LCH.Clearnet is extending its tariff restructuring programme to encompass energy markets.
With effect from 1 July 2007, clearing fees in respect of trades executed on ICE Futures will be reduced by an average of 25%, and clearing fees in respect of trades executed on the ICE OTC platform will be reduced by an average of 30%. Precise details of the revised tariff are still being finalised; LCH.Clearnet is keen to work with ICE to apply revisions that will deliver the maximum benefit for members generally.
Roger Liddell, LCH.Clearnet Group Chief Executive, said: "Following our series of clearing fee reductions over the last few months, I am very pleased to be able to announce an extension of the programme to include our members trading on ICE energy markets. We are determined to drive fees downwards whilst maintaining high quality clearing services, and it is very gratifying to be able to broaden the reach of those reductions to include an asset class which has not to date benefited from the programme.
"We believe that the clearing services provided by LCH.Clearnet have been a significant and beneficial factor in the spectacular market growth experienced by ICE, both Futures and OTC. We look forward continuing to contribute to that growth by offering clearing fees at a very competitive level."