Six x-Clear to Cut Prices 15 Percent on Sliding Scale
September 9, 2010
SIX x-clear said it will "significantly reduce prices" when it introduces a volume-based tariff structure on January 1.
the Central Counterparty and licensed Swiss bank said its new pricing model will feature a sliding scale based on monthly transaction volumes. Prices also are being reduced by an average of 15 percent. Large clients cut save 30 percent, it said.
All clients with ratings that are investment grade (AAA to BBB+) will be charged according to the same tariff scale. SIX x-clear said the move "introduces further efficiencies into the clearing market,'' as it tries to gain market share.
The sliding scale price bands
Under this new tariff structure, a client’s monthly volume across all SIX x-clear markets will contribute to its total transaction volume.
Marco Strimer, CEO of SIX x-clear, said the pricing "is sustainable, given our low-cost operating model and our long-term commitment to clearing."
SIX x-clear acts as the central counterparty for the SIX Swiss Exchange and the London Stock Exchange.
