ASX to lower OTC clearing fees 31 July 2014Sydney Reporter: Catherine Van de Stouwe
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From 1 October 2014, the Australian Securities Exchange (ASX) will be lowering frees for clearing participants in its interest rate futures and over-the-counter (OTC) clearing business.
To enable lower fees, the ASX will implement a new fee schedule for interest rate futures that will provide volume discounts for OTC clearing.
The new fees will improve the sustainability of the derivatives business, encourage volume growth and give ASX a position to compete for liquidity in a global market structure.
Derivatives are the largest contributor to ASX revenue, accounting for 32 percent of total ASX group revenue in Financial Year 2013.
This phase of fee scheduling shows the development of ASX’s derivatives business involves continued investment in ASX’s trading, clearing and risk management platform, the launch of new products that integrate the exchange-traded futures and OTC markets, and improve alignment between ASX and its clients.
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