Eurex Clearing is to lower the fixed clearing fees for equity transactions on Xetra and the floor of the Frankfurt Stock Exchange by 25 percent to €0.30 per order with effect from 1 April. The volume-dependent clearing fee remains unchanged at 0.0015 percent of the order value. The maximum fee per order is to be reduced accordingly by €0.10 to €6.00.
The lower fixed fees per order make clearing small transactions from algorithmic trading on Xetra even more attractive. This form of trading already makes up 60 percent of all orders executed. The clients who stand to benefit in particular are those who currently still have limited algorithmic trading activity on Xetra. Moreover, lowering the fees addresses the continuing decline in average order size in algorithmic trading. Eurex Clearing is thereby offering an incentive for the continued growth of particularly price-sensitive clearing activities.
Further information
In algorithmic trading, computers evaluate trading signals and place buy and sell orders in the trading system on the basis of these results. Algorithmic trading ensures higher liquidity and consequently tighter spreads, benefiting all market participants. Deutsche Börse Group has supported algorithmic trading activities since the beginning of 2005 as part of the Automated Trading Program by granting discounts of up to 49 percent on trading and clearing fees.
In clearing, receivables and liabilities from securities transactions are aggregated or offset against each other. After the end of a trading day, the clearer informs its members of their transactions as well as the remaining receivables and liabilities. -- www.deutsche-boerse.com
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