Euroclear Bank To Implement Substantial Fee Reductions In 2008

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.”