Euroclear UK & Ireland plans to implement record-breaking fee reductions of £11.8m in 2008. The settlement and clearing house said its clients – which include most UK pension schemes or their delegates – were expected to benefit from overall savings of around 10pc on average.
The tariff reductions – which are planned for April 2008 – would deliver a 50pc reduction in clearing-related service fees; and a 10pc reduction in settlement fees for both retail and wholesale clients. Euroclear also plans to separate transaction-reporting fees as clients comply with their MiFID reporting requirements and to reduce message-input fees by 20pc.
By Jonathan Stapleton
© Professional Pensions
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