Prne
April 6th, 2009
AMSTERDAM - European Multilateral Clearing Facility, the European Central Counterparty (CCP), introduces a 40% fee reduction for the UK securities market effective April 14th as part of its strategy of price leadership in Europe
EMCF cuts fees by 40% for trades cleared in UK securities as per April 14th, 2009, bringing clearing fees to EUR 0.03 per trade. The move ensures EMCF will maintain price leadership in the European cash equities market. The clearing fee for other European equities, cleared by EMCF will be maintained at EUR 0.05.
EMCF has been the driving force in reducing fees in the post trading landscape within Europe. This strategy has established EMCF as the 2nd largest European cash equities CCP.
“The strategic price reduction is introduced at a crucial moment for the European cash equities markets and will aid in consolidating the successes of the MTFs serviced by EMCF. We firmly believe the strategic move ensures we deliver BATS, Chi-X and Nasdaq OMX Europe the most competitive offering available in the market,” says Jan Booij, CEO of EMCF. “Increasing competition, most notably in the UK segment, has triggered a competitive response from EMCF. We send a strong message to the trading and clearing community: We will continue our price reductions based upon volume growth and competitor pricing.”
About European Multilateral Clearing Facility
EMCF was established in March 2007 to provide competitive central counterparty clearing services for the rapidly growing MTF market. EMCF currently provides CCP services for BATS, Chi-X, Nasdaq OMX Europe and Nasdaq OMX Nordic. Current clearing volumes exceed 1 million transactions per day, representing between 10%-15% of total European volumes, ranking it Europe’s second cash equities CCP.
EMCF is the most competitive European CCP, providing tangible savings for the industry. EMCF offers clearing participants a transparent fee schedule, charging only a low fixed fee across markets.
EMCF is a subsidiary of Fortis Bank Nederland N.V. (maj.) and Nasdaq OMX Nordic Group Inc. The activities of EMCF are regulated by the Dutch central bank, De Nederlandsche Bank (DNB), the Dutch Authority for the Financial Markets (AFM) and the UK Financial Services Authority (FSA).
www.euromcf.com
Source: EMCF - European Multilateral Clearing Facility N.V
Further Information: European Multilateral Clearing Facility, Corporate Communications, Contact Erik Westerling, Tel +31-20-5272832, Email: erik.westerling at euromcf.com;
Filed under Banking and Financial Services, Economic / trends / analysis, Government and Policy | Tags: Amsterdam, EMCF - European Multilateral Clearing Facility N.V, Europe | Comment Below
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