The London Stock Exchange (LSE) has extended the duration of a price promotion introduced to attract high-volume traders by four months. It will now finish at the end of November 2010.
In April the LSE launched the tariff, which charges a fixed maximum fee of 0.29 basis points for members that trade over £3.5 billion in continuous trading in UK equity and international order book securities during any calendar month in 2010.
Another promotion to be continued to 30 November is that of free passive trading for members that use 75% of their total monthly value traded to supply liquidity in FTSE 350 stocks. Both promotions were originally due to end on 30 July.
In 2008, the LSE attempted to boost liquidity on its platform by introducing rebates for passive liquidity providers. However, the scheme was scrapped by the exchange's CEO Xavier Rolet after he took the helm in May 2009.