The London Clearing House (LCH) is to reduce its EquityClear tariff in line with rising volumes and the planned expansion of its central counterpary (CCP) service to cover pan-European cross-border exchange virt-x in Spring next year.
LCH will operate as the principal CCP for virt-x with SIS x-clear, providing central counterparty services to the exchange's domestic Swiss participants.
The clearing house says the tariff reduction has been made possible by the current level of Sets volume at the London Stock Exchange and the further increase expected to go through EquityClear from the introduction of the virt-x market.
Arun Aggarwal, managing director, business management, LCH, says: "We have already brought, together with Euroclear Crest, considerable value to the UK equity market through reducing overall costs, risks and capital requirements whilst also helping improve the quality of Sets."