Europe's largest clearing house is to slash fees for clearing trades executed on one of its main European stock exchange shareholders for the third time in a year, the latest cut by the clearer before new rules designed to make European clearing and settlement more effective take force next year.

LCH.Clearnet, the Anglo-French clearing house, has said it will cut the fee for clearing stocks traded on NYSE Euronext, the trans-Atlantic exchange group, by a further 25% from April 1 next year.