Euroclear Bank will deliver significant fee reductions in January 2008 - saving clients EUR 70 million per annum.
Euroclear Bank will reduce fees for the following services:
- safekeeping for Eurobonds, and all Euro-denominated and Nordic- market domestic bonds;
- settlement and safekeeping for transactions involving Belgian, Dutch and French equities, i.e. the Euronext-zone securities within the Euroclear group;
- safekeeping for international warrants; and
- triparty collateral management.
Commensurate with the levels of business that each client conducts with Euroclear Bank, the savings will be meaningful. For example, clients will save an average of 28% in safekeeping fees for Euro-denominated domestic bonds, and an average of 15% in triparty collateral-management servicing fees.
Frédéric Hannequart, Chairman of the Board of Euroclear Bank, said: "We aim to reinforce our role as the leading low-cost, high-value settlement infrastructure service provider through our programme of ongoing tariff reductions from which all clients can benefit. Keeping post-trade costs low is an important factor in enabling our clients to remain competitive and leaders in their respective businesses."