The London Stock Exchange (LSE) has announced a price promotion for the month of December, which the bourse says is in recognition of anticipated low volumes at the end of the year.
The discount applies to the LSE’s liquidity-taking packages for trading in UK equities and international order book securities.
The first package charges a subscription fee of £50,000 per month – reduced to £40,000 under the promotion – in return for an aggressive execution fee of 0.15 basis points.
The second package levies a £5,000 a month fee, reduced to £4,000 for the December discount programme, for an aggressive execution fee of 0.28 bps.
At the start of the 2012, fees will revert to the standard levels. The LSE’s liquidity-taking schemes are scheduled to run until the end of
March 2012.
Equity trading volumes are typically subdued in the last month of the year. In 2010, December volumes were €648 billion in Europe, far below the year’s high of €1.1 trillion recorded in May. Trading activity this year has been equally depressed, with €773.6 billion traded in November, with a low of €703.1 billion traded in April 2011.