LCH. Clearnet offers free equity clearing 31 August 2010London Reporter: Ben Wilkie
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LCH.Clearnet is to introduce free equity clearing for average daily member volumes of over 150,000 trades a day. The new tariff will be implemented from 1 October.
Kevin Milne, director of post trade, London Stock Exchange said: "We are very supportive of these tariff amendments. In combination with our own ongoing tariff cuts, this move will further reduce the overall cost of trading for our major clients and make the service more compelling. We will continue to work collaboratively with LCH.Clearnet and others to ensure that the users of our markets receive the most competitive offerings possible."
Wayne Eagle, director of equities, LCH.Clearnet said: "This supports our exchange clients, rewards customer loyalty and incentivises growth. Customers get economies of scale, without having to choose between cost and the quality of clearing."
Reduced fees will also be introduced for members with average daily volumes above 50,000.
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