LCH.Clearnet, Europe’s largest independent clearer, on Thursday said it planned to cut its fees further by “at least 50 per cent” as it revealed an initial 30 per cent discount on clearing of four continental European cash equities markets.

The move came a day after the fate of the clearer for the London Stock Exchange took a fresh twist when the Depository Trust & Clearing Corporation, the US clearing and settlement system, abandoned a proposed takeover. The deal would have created the world’s largest post-trade group.