The reduced fees kick in from 1 October 2014, and will apply to clearing participants in interest rates futures and over-the-counter (OTC) transactions.
“The new fee schedule recognises that volumes have grown strongly and that fees have not changed for more than 10 years,” said a statement by the ASX.
“[It will] improve the sustainability of the derivatives business, encourage volume growth and position ASX to compete for liquidity in an evolving global market structure,” it said.
The new fee structure reflects the fact that customers use exchange-traded and OTC interest rate products together, the ASX said.
“The implementation of a new fee schedule for interest rate futures signals the next phase in the development of ASX’s derivatives business,” said the statement.
This phase will involve continued investment in the ASX’s trading, clearing and risk management platforms; the launch of new products that more directly integrate exchange-traded futures and OTC markets; and “improved alignment” between the ASX and its clients through lower fees and higher “growth incentives”, said the statement.
