LSE acts in response to low-cost dealing threat
The reports say that LSE's chief executive, Clara Furse, had intended to introduce the cuts in the new year, but may now announce details early this week.
The LSE, which last week rejected a 2.7 billion "final" takeover offer from America's Nasdaq, has been criticised by its big users for benefiting from soaring volumes but failing to pass on benefits to customers.
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Hide AdMeanwhile, Samuel Heyman, the American hedge-fund billionaire who has built up an 8.8 per cent stake in the LSE, is said to be urging Furse to open talks with Bob Greifeld, her opposite number at Nasdaq.
Nasdaq is expected to publish its offer document for the 12.43 share takeover proposal this week, possibly as early as today, with a plan to refinance through a huge rights issue if its debt-funded offer were successful. Greifeld has said that he would retain the London Stock Exchange name.
London's mayor, Ken Livingstone, has called for Nasdaq's bid to be investigated by the Office of Fair Trading.