ClearPar Cuts Loan-Settlement Fee After Traders Resist Move

ClearPar, the automated loan-processing business that settles most trades in the $500 billion U.S. market, reduced a newly imposed fee by 37 percent after some customers complained and stopped using the service.

ClearPar, owned by London-based Markit Group Ltd., will lower its settlement fee to $19 per trade starting today, according to its website. The transactions had been free to investors since the company’s founding more than 10 years ago until Oct. 3, when it began charging $30 to clear a trade.