Euroclear UK & Ireland reduces fund fees 09 July 2012London Reporter: Georgina Lavers
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Euroclear UK & Ireland (EUI) has cut its investment fund order-routing fees for both high- and low-volume clients with immediate effect.
The tariff for 10,000 or more orders per year has been cut by 9 percent, rising to a reduction of 33 percent for clients routing over 25,000 orders per year through the EMX Message System.
EUI’s fund order-routing fees are structured on a sliding-scale basis where higher message volumes are rewarded with lower fees.
“The new tariff reflects economies of scale and provides greater savings for customers that route more orders through EUI using the EMX Message System,” said a statement from the firm.
“Clients can also make meaningful savings through a new ‘family concept’ where fund orders generated by all clients of the same group will be aggregated to benefit from lower tariffs higher up the sliding scale of fees.”
John Trundle, chief executive officer of Euroclear UK & Ireland, said: "Our fund services have grown and we are sharing the benefits of scale economies with our clients and will continue to do so in the future. We welcome the 30 new clients that signed up to our fund services over the past few months.”
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