Deutsche Bank is said to halve MiFid Fixed-Income research price

Deutsche Bank AG has halved the price of its fixed-income and macro research as competition mounts in the run-up to Europe’s MiFID II regulations, three people with knowledge of its plans said.

The German lender proposes to charge asset managers 30,000 euros ($35,000) a year for up to 10 users, said the people, who asked not to be identified because the information is private. This was cut from the 60,000 euros it had initially planned after other banks revised their prices lower, according to a memo sent to clients. A spokesman for Deutsche Bank declined to comment. The revised Markets in Financial Instruments Directive will force firms to charge for research separately from other services such as trading. With less than five months to go before the Jan. 3 start date, investment banks are locked in negotiations with their money-manager clients over how best to comply with the rules.

Deutsche Bank’s 30,000-euro package includes web access to written research and contact with analysts, the people said. Deliberations are ongoing and the bank hasn’t made a final decision on the pricing. The Frankfurt-based lender’s prices are linked to the number of users. Web- only access for up to five people is quoted at 15,000 euros per year, while a package including web access and contact with analysts is 50,000 euros for up to 25 users, one of the people with knowledge of the matter said.

Source: Bloomberg Pro Terminal

Jr Trader Alexander Kumanov

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