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SWX to Cut Virt-x Transaction Fees

EXCHANGE TECHNOLOGIES

LONDON-Next year, Swiss exchange operator SWX will cut the trading tariffs for Swiss Market Index (SMI) equities, pan-European shares and exchange-traded funds (ETFs) transacted via its U.K. trading portal, Virt-x, adding to speculation that European bourses are preparing for a price war.

Officials from SWX say that the price cuts will come into effect on Jan. 1, 2007, and that they expect the reductions to provide an average annual savings of 15 percent for users of Virt-x. From Oct. 1, 2006

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