EuroCCP, the European central counterparty service operated by US clearing house DTCC, has reduced its clearing and risk management fees to attract more business to the trading platforms it supports.
The new pricing structure, effective from 1 April, will charge €0.05 for each side (buy or sell order) up to 800,000 sides, worked out as a monthly average for the combined volume of all trading venues EuroCCP clears for.
EuroCCP currently charges €0.06 for up to 400,000 sides and €0.525 for between 400,000 and 800,000 sides. The charge for over 800,000 sides is €0.025. Settlement fees on the platform will remain unchanged.
EuroCCP current provides clearing services for broker-backed multilateral trading facility (MTF) Turquoise, as well as SmartPool and NYSE Arca Europe, the two MTFs launched this year by exchange group NYSE Euronext.