Service
Announcement
001/23102015
Introduction and updates to a number of
London Stock Exchange trading-related
tariffs
London Stock Exchange announces a number of new and updated trading-related tariffs effective
from 2 November 2015 and 1 December 2015.
Tariff updates effective from 2 November 2015:
1. Introduction of reduced monthly fee for Liquidity Taker Scheme Package 1 for Equities for
Member Firms qualifying as Proprietary Trading Firms and exceeding a minimum
proportion of total passive value executed in Equities on SETS in the period.
a. Monthly fee reduced from £40,000 to £30,000, if the Proprietary Trading Firm has
a share of total passive equity value traded in Equities on SETS in the period of
at least equal to 1.25%.
b. Monthly fee reduced from £40,000 to £20,000, if the Proprietary Trading Firm has
a share of total passive equity value traded in Equities on SETS in the period of
at least equal to 2.25%.
2. Extension of London Stock Exchange International Order Book trading pricing promotion
to 31 January 2016.
a. Further to Service Announcements ‘Live - 001-09122014’ and ‘Live 001/14072015’, London Stock Exchange is pleased to announce the extension of
its current International Order Book (“IOB”) trading pricing promotion for a further
three months until 31 January 2016.
b. As a reminder, these tariff enhancements are designed to incentivise participants
who operate liquidity provision models in the most liquid IOB securities, defined
as those on the FESE Table 1 tick size table (securities with a Trading Parameter
of TP_99).
3. Extension of the waiver of the exchange charge for the execution of Cross Order and
Block Trade Facility order types for Exchange Traded Funds (ETFs) and Exchange
Traded Products (ETPs).
a. Further to Service Announcement ‘Live - 002 - 13042015’, London Stock
Exchange is pleased to announce the extension of its promotional waiver of the
exchange charge for the execution of these two new order types for a further six
months until 30 April 2016.
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Service
Announcement
001/23102015
Introduction and updates to a number of
London Stock Exchange trading-related
tariffs
Tariff updates to become effective from 1 December 2015:
4. Amendments to the high usage order management surcharge for Exchange Traded
Funds (ETFs) or Exchange Traded Products (ETPs).
a. Registered Market Makers in ETFs and ETPs are to be excluded from the Order
Management Surcharge in their registered securities
b. Threshold for the application of the surcharge for qualifying order events will
increase from 500 order events per trade to 2,000 order events per trade.
c.
The surcharge will not be applied if the number of order events considered for the
calculation is below 20,000.
d. In a change to the current methodology, to qualify for the reduced high usage
surcharge in ETFs, member firms must rank in the top 5 by monthly order book
value traded in ETFs. Similarly, to qualify for the reduced high usage surcharge in
other ETPs (ETCs and ETNs), member firms must rank in the top 5 by monthly
order book value traded in other ETPs.
5. Introduction of a monthly Capacity fee based on the registered and associated activity of
a member firm’s trading, Post Trade and Drop Copy connections to the Millennium
Exchange.
a. Each member firm will be assessed based on the connections that were
observed to have been logged in during any point each month.
b. Member firms will not be charged for a base package consisting of:
i. Trading connections amounting to an allocation of 1,000 transactions per
second1
ii. One Post Trade Gateway connection
‘transactions per second’ is the maximum number of messages that can be submitted on a
trading connection in a single second. This is configurable per trading connection.
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Service
Announcement
001/23102015
Introduction and updates to a number of
London Stock Exchange trading-related
tariffs
iii. One Drop Copy connection
c.
In excess of the base package, member firms will be charged as follows:
i. £150 for each additional 250 transactions per second on Trading
connections
ii. £250 for each additional Post Trade Gateway connection
iii. £500 for each addition Drop Copy connection
d. For illustration, if a member firm was observed to have been logged in at some
point during a month to different Trading connections aggregating to a total
allocation of 3,400 transactions per second, one Post Trade Gateway connection
and 2 different Drop Copy connections, the monthly charge would be £2,000.
In relation to point 5 above, customers are advised that London Stock Exchange has moved, with
immediate effect, to an unrestricted model for allocating trading connections to the trading
gateways. This new model allows customers to connect to any available gateway for a particular
service. Customer facing IP addressing for each available gateway can be found in the MIT 1001
– Connectivity Guide . For more information on the new gateway allocation policy, please contact
your Technical Account Manager or the Technical Account Management team at
[email protected].
Two new full revised and the existing Trading Services Price Lists and Member Firm declarations
can be found at:
www.lseg.com/prices
The revised Trading Services Price lists will be effective from 2 November 2015 and 1 December
2015 respectively.
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Service
Announcement
001/23102015
Introduction and updates to a number of
London Stock Exchange trading-related
tariffs
Relates to
Additional Information
Exchange(s)
If you have any queries about this announcement please
contact the Sales Team on: 020 7382 7650 or e-mail:
[email protected].
—
London Stock Exchange
Environment
—
Production
Type
—
Service Update
Product(s)
—
If you have any technical queries please contact your
Technical Account Manager on 020 7797 3939 or
[email protected].
Millennium Exchange
An archive of previously issued service announcements is
available in the technical library section of London Stock
Exchange's Internet site
http://www.londonstockexchange.com/techlib
Customers are reminded that London Stock
Exchange may broadcast test data from its
Production environment at the weekends which
should be discarded and not processed.
Customers are reminded that London Stock
Exchange may extend or re-enter the Post Close
session for instruments or segments in order to
perform necessary end of day activities.
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