VeriSign announced yesterday that it will increase the fees it charges for the two domain name extension it controls: .com and .net. The new feeds structure is to take effect from October 15 2007. VeriSign will now charge ICANN accredited registrar such as Tucows and Directi $6.42 for .com domains and $3.85 for .net domains. The new prices, which is the domain name registration wholesale price rise for 8 years increased the cost VeriSign charges for .com domain from $6. to $6.42, a 7 percent rise whilst .net domain names will go up in price from $3.50 to $3.85 a 10 percent rise. VeriSign argued that price increase is necessary to cope with the rise in the volume of Internet traffic and domain name system queries, which had rising significantly since the original price was set in 1999. The need to have a more robust infrastructure to withstand sophisticated cyberattacks was also cited as one of the reasons for the price increase. It is now clear how domain registry will react to the price rise. Tucows for example charges its customers $10 for .com and .net domain names, which suggested that it makes less profit on .com and more profit on .net domain name.