LCH.Clearnet, Europe’s largest clearing house, has cut the fees it charges banks trading on the London Metal Exchange and plans further reductions in other assets classes as competition between the region's main clearers heats up.

The clearing house, which has introduced a range of tariff reductions across its main markets over the last year, has said it will slash the fees for clearing trades on the London Metal Exchange by 15% from January 1 next year.