Exchange cost cutting at SWX and Virt-x

The SWX Swiss Exchange and its London-based securities exchange virt-x have announced a fee reduction and revised pricing model that will begin on 1 April 2008. The lower fees will deliver CHF40 million in annual savings for users, a 15% reduction in the overall cost of trading. It follows a similar 15% headline price cut in virt-x fees in January 2007. The new pricing model will introduce volume discounts to reward a customer's scale of contribution.