EUROCCP CUTS PRICES WITH NEW FEE STRUCTURE

Posted September 15, 2009

LONDON – European Central Counterparty Limited (EuroCCP) has restructured its fees and set a new low clearing price standard for European equity trades, which will take effect October 1.

The new, transparent fee structure starts at 3 euro cents (€ 0.030) per side and decreases to one-fifth of a euro cent (€0.002), and comes with volume discounts at a participant level and no other hidden fees, intended to provide value to high-frequency trading firms now operating across multiple markets.

“The market is looking for pricing to be simpler and more transparent, enabling traders to build predictable clearing costs into their models,” says Diana Chan, CEO of EuroCCP. “With the launch of our enhanced tiered fee structure, we’re bringing US high volume pricing to Europe, and offering a safe and low-cost service to help our customers and partners achieve further economies of scale.”

EuroCCP clears equity trades in 15 countries and seven different currencies. The latest fee structure is part of its innovation program that will include new products and expansion into more market sectors, positioning itself to be prepared for the European market’s move to interoperability.

“At EuroCCP, we’re particularly responsive to changing market needs, and our new fee structure is just one in a series of developments aimed at ensuring EuroCCP and its customers are best placed to take advantage of the drive towards interoperability,” says Chan. “Offering the most competitive prices will clearly prove attractive as traders seek the clearing model that best matches their business.”