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Gross charge for London Stock Exchange trade netting dropped

Euroclear UK and Ireland has announced that it will remove the gross charge for the netting of trades on a major UK bourse.

Euroclear UK and Ireland has announced that it will remove the gross charge for the netting of trades on a major UK bourse.

The London Stock Exchange has welcomed the decision and highlighted the positive effect that this will have for hedge funds and other investors.

It is believed that the decision will save customers approximately £10 million during the next 12 months due to the lower post-trade costs for their SETS business.

Kevin Milne, director of Post Trade Services, has thanked Euroclear for its willingness to work with customers on this issue.

He stated: “In addition to our own ongoing tariff cuts, this move will further reduce the overall cost of trading for our major clients and level the playing field with our competitors.”

Earlier this month, the CFA Institute and the UK Investment Performance Committee announced a new scheme designed to standardise hedge fund performance reporting, which will lead to this information being presented more clearly.

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