Euroclear, Europe’s largest settlement house, plans to cut the fees it charges for some post-trade services in the UK, in the latest fillip for the country's equity traders, who have seen their costs fall dramatically since the launch of several new trading venues.

Brussels-based Euroclear said it will reduce the fees it charges investors to offset share trades executed on rival stock markets from November. The company will cut its average trade-netting fee by 58%, from 4.3p to 1.8p per transaction, with some users paying less than 1p.