The London Stock Exchange today welcomes Euroclear UK & Ireland's (EUI) decision to remove the gross charge for the netting of London Stock Exchange trades.
The Exchange estimates this will save its customers in the region of £10m in the next year in lower post trade costs for their SETS business.
Kevin Milne, Director of Post Trade Services said:
"We are very pleased that EUI has removed the gross charge for netting SETS trades. In addition to our own ongoing tariff cuts, this move will further reduce the overall cost of trading for our major clients and level the playing field with our competitors.
"We would like to thank EUI for their constructive approach in working with us and our customers on this issue. We remain committed to working with all parties to continue to bring down the cost of post trade services."
