LCH.Clearnet is very pleased to announce a further reduction in clearing fees for contracts executed on ICE Futures and on the ICE OTC trading platform.
With effect from 1 January 2008, clearing fees in respect of trades executed on ICE Futures will be reduced by an average of 40%, and clearing fees in respect of trades executed on the ICE OTC trading platform will be reduced by an average of 30%.
This clearing fee reduction, which forms part of LCH.Clearnet's rigorous programme of reductions across all business segments, is the second in respect of trades executed on ICE platforms. The first, which came into effect in July 2007, reduced clearing fees by 25% and 30% on ICE Futures and ICE OTC respectively. The precise details of the revised tariff are being finalised, and will be published as soon as possible.
Roger Liddell, Group Chief Executive at LCH.Clearnet, said: "A further reduction in clearing fees on ICE markets is in line with our continuing fee reduction programme generally, and entirely appropriate in the light of the continued growth in activity on ICE markets in particular. LCH.Clearnet is committed to offering the lowest possible clearing fees to our members whilst maintaining high quality clearing services: given their continuing increase in activity, we intend to announce further significant clearing fee cuts on ICE markets by the end of this year."