Members say true value of merger still not seen
Initial response to LCH Clearnet (LCH-C)'s first wave of fee
reductions has been in general positive with participants
calling the move a step in the right direction but emphasising
the need to see more value from the clearinghouse.
LCH-C recently told FO Week that it was revising
its fee structure for financial and equity derivatives (see
FO Week Vol 11 No 40) as part of an ongoing process of
simplifying and standardising clearing fees, a process which
members have been lobbying for and which market participants
agreed had been a step in the right direction.
"This is the start of the integration of LCH and Clearnet,
at least in terms of fee harmonisation. It will make for easier
access for brokers and clients because there will be greater
standardisation. This is something we have been pushing hard
for," Patrick Cirier, chief operating officer for Fimat Europe
told FO Week.
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