CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. SWX And Virt-X Slash Trading Costs

SWX And Virt-X Slash Trading Costs

by Phillip Morton, Investors Offshore.com

18 October 2007


The SWX Swiss Exchange and virt-x, its London-based securities exchange, have announced that a substantial reduction of their fees and a revised pricing model will bring benefits to both individual investors and intermediaries alike.

The new fee structure, due to take effect on April 1, 2008, is estimated to bring CHF40 million (EUR24 million) in annual savings for users based on first half revenues. According to the SWX, this represents a further 15% reduction in the cost of trading, following a headline price cut of 15% on virt-x at the start of 2007.

The fee reduction is the latest step in SWX and virt-x’s re-pricing program, which saw a 100% trading-fee waiver of CHF33 million on virt-x in the last quarter of 2006, and a subsequent 15% headline price cut in virt-x fees in January 2007.

The Swiss Exchange also said that the new pricing model will bring other benefits to investors, such as a simple tariff structure and volume discounts.

The new tariff structure is part of the SWX Group’s “Trading for the Future” programme, which will facilitate increased levels of algorithmic trading and Direct Market Access (DMA) opportunities for market participants through a programme to provide greater capacity and reduced latency.

Jurg Spillmann, Head of the SWX Group Executive Committee, noted: “We have long recognised the importance of providing cost-effective trading services and our new tariff structure will deliver further important savings for intermediaries and investors alike.”

Jim Gollan, Chairman of virt-x, added: “We are committed to driving growth in Swiss blue-chip trading and today’s announcement represents the latest step in our strategy to significantly enhance our overall service offering and deliver greater economic value to customers and investors.”

A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, trusts and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »