EuroCCP has introduced a billing feature that provides a new level of cost transparency to its customers. The new feature should enable customers to aggregate trading and clearing costs into a single unit to arrive at an all-inclusive cost of trading, clearing and settlement.

The CCP now provides a monthly billing supplement to customers that shows clearing costs on the value of trades cleared. Settlement costs are likewise shown on the value of trades cleared.

Robert Barnes, managing director of equities at UBS Investment Bank commented: "EuroCCP should be commended for enhancing tariff transparency. Cost-per-ticket trends are subject to bias, for example as electronic trade sizes shrink. By adding value processed on its invoices, EuroCCP enables basis-point comparability, a more meaningful metric for competitive landscape cost analysis."

EuroCCP launched the basis-point initiative after a month-long pilot phase, during which customers provided their input and recommendations.