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LME average fees for 2015 increase by a third

The London Metal Exchange’s (LME) average trading fees will go up by 34% in 2015, the group has said.

Additional changes to the tariff structure are also coming in on 1 January next year, including a new ‘all-in’ fee incorporating both trading and clearing charges. Fees will be charged solely in US dollars.

The changes signify the first fee increase since the bourse was taken over by Hong Kong Exchanges & Clearing (HKEx) in 2012.

According to Bloomberg, LME chief executive Garry Jones said the new tariff strikes “a balance between a fair return for the investors and fair transaction costs for the participants”.

LME Clear [clearinghouse] fees will remain the same while charges on the trading floor are set to go down.

“The new LME tariff is competitive and ensures we can continue focusing on innovation and offering users the highest levels of service,” Jones said.

During its takeover, HKEx pledged to keep fee rates stable until 2015. The group’s chief executive said the new fee was “a necessary step towards realising our vision of building a leading global, vertically integrated multi-asset class exchange group.”

It is reported that HKEx anticipates LME’s clearinghouse to generate more than $90m a year.

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