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Tariffs on the Russian securities market and the Russian futures market applicable to the clientswho entered into the Brokerage Agreement with Finam Limited Expenses paid by clients who entered into a Brokerage Agreement with Finam Limited when executing transactions on the Russian securities and futures markets as of 200 Regulations of CJSC Investment Company Finam as of 30.08.08 Forward Contracts for Currency Pairs Trading Regulations Expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Daily turnover on the Client’s account with the Company, RUR | Commission fees paid by the Company |
|---|---|
| Up to 1,000,000 | 0.033% |
| Over 1,000,000 to 5,000,000 | 0.030% |
| Over 5,000,000 to 10,000,000 | 0.026% |
| Over 10,000,000 to 20,000,000 | 0.020% |
| Over 20,000,000 to 50,000,000 | 0.013% |
| Over 50,000,000 to 100,000,000 | 0.008% |
| Over 100,000,000 | 0.007% |
2. Commission fees paid by the Company to a Russian broker when executing transactions in the futures section of RTS Stock Exchange (FORTS)
| Service | Commission fees paid by the Company |
|---|---|
| To conclude a futures and options contract when the Company executes an Order for a futures contract, placed using the software product QUIK-Broker | RUR 0.450 per each contract |
| To conclude a futures and options contract when the Company executes an Order for a futures contract, placed otherwise, | 0.0354% of contract value |
| and also | |
| mandatory closure of positions opened due to the absence on the Client’s account with the Company of relevant assets for execution of a delivery futures contract | |
| To arrange execution of a futures contract | 100% charges for execution arrangement, as approved by RTS |
| To maintain a register to keep records of the Client’s positions in the futures section of RTS Stock Exchange, if any transactions are executed within this register | RUR 120.00 |
3.2. OTC options
| Service | Commission fees paid by the Company |
|---|---|
| Purchase of an OTC options contract | 0.118% of the option premium amount |
3.3. To withdraw the Client’s cash derived from one-time sale of securities owned by the Client
A one-time sale shall be understood as the sale of securities held by the Client when:
the aggregate turnover of purchase/sale transactions executed at the Client’s account with the Company for the period from the date of initial placement of the securities on the Account until the date of cash withdrawal does not exceed 200% of the value of the securities recorded on the Account not as a result of a transaction(s) executed by the Broker based on the Client’s order placed by the Company, and also excluding sales of the above securities.
or
net position changes
as a result of a transaction(s) registered by any market maker and executed by the Broker at the Client’s order placed by the Company,
in any securities (in terms of value), except for those recorded on the Client’s account not as a result of a transaction(s) executed by the Broker at the Client’s order,
at the end of any day for the period from the date of initial placement of securities on the Client’s account with the Company until cash is withdrawn,
amounts to less than 25% of value of the securities recorded on the Client’s account with the Company not as a result of a transaction(s) executed by the Broker at the Client’s order placed with the Company.
| Amount derived from one-time sale excl. sales-related expenses | 2% |
4. Exchange and other fees paid by the Company
| Operation | Fee amount paid by the Company |
|---|---|
| To execute transactions in the stock section of MICEX Stock Exchange: - stocks - bonds | 0.01% of transaction price 0.01% of transaction price |
| To execute transactions in the stock section of RTS Stock Exchange: - stocks - bonds | Exchange fee: 0.003% of transaction price clearing fees: 0.0020% of transaction price 0.0075% of transaction price |
| To open a register to keep records of the Client’s positions in the futures section of RTS Stock Exchange | RUR 120.00 |
| PocketQUIK: - presentation of the software product - subscription | RUR 3,450.00 RUR 685.00 per month |
5. Depositary fees (services provided by a Russian depositary) paid by the Company
| # | Service | Fee |
|---|---|---|
| 1. Maintenance of custody accounts | ||
| 1.1. | Custody account maintenance fee[1] | RUR 354.00 per month |
| If there is no operation recorded on a custody account | free of charge | |
| 2. Fee for keeping records of securities | ||
| that do not require storage of documentary securities | ||
| 2.1. | To accept securities for records | free of charge |
| If there are more than 5 orders per one issue of an issuer within a calendar month | RUR 35.40 per each additional order, except initial deposit of securities with the depositary | |
| If an order is placed later than 25 calendar days from the re-registration of securities in a shareholder register | RUR 177.00 per each order | |
| 2.2. | To remove securities from records (except redemption) [2] | RUR 708.00* |
| 2.3. | To transfer securities to a new place of storage | RUR 70.80* |
| 2.4. | To perform an inter-depositary transfer of securities within custody accounts[3] | RUR 177.00 (equally from each depositor, unless otherwise is provided for by the agreement signed among depositors, in accordance with which securities are transferred) |
| 2.5. | To pledge/mortgage securities | RUR 531 per each order |
| 3. Fee for keeping records of securities | ||
| that require storage of documentary securities in a depositary** | ||
| 3.1. | To accept securities for record-keeping and storage | RUR 35.40* |
| 3.2. | To remove securities from record-keeping and storage | RUR 708.00* |
| 3.3. | To perform an inter-depositary transfer of securities within custody accounts | RUR 177.00 (equally from each depositor, unless otherwise is provided for by the agreement signed among depositors, in accordance with which securities are transferred) |
| 3.4. | Pledge/mortgage of securities | RUR 531.00 per each order (chargeable from the pledgee) * |
| 3.5. | Fee for securities storage | |
| open storage | 0.059% of par value* | |
| closed storage | 0.236% of par value* | |
| 4. Servicing of securities, | ||
| whose trading organizer is RTS (settlement depositary of Depositary Clearing Company) | ||
| 4.1. | To place/remove securities from/to inter-depositary accounts held with external depositaries under operations related to the execution of Sale/Purchase agreements concluded under the terms of the Trading Agreement of non-commercial partnership Russian Trading System Stock Exchange | RUR 88.50* |
| 6. Other operations | ||
| 6.1. | To cancel an order | Rub 35.40 per each order |
| 6.2. | To issue an account statement at the request of a client when a meeting is held outside of Moscow | RUR 35.40 RUR 8,850 plus overheads |
| 6.4. | To obtain information about an issuer at the Company’s request made in order to execute the Client’s order | RUR 885.00* |
| 6.5. | To re-register securities[1] | RUR 708.00* |
| 6.6. | To receive, calculate and transfer income | |
| paid on shares | 1.18% of transfer amount plus overheads | |
| paid on bonds (except redemption) | 0.236% of amount paid plus overheads | |
| 6.7. | To send out corporate information (with regard to the issuers of securities which make up the Client’s portfolio)[2] | |
| By email | RUR 177.00/month (no more than 10 issuers) RUR 354.00/month (10+ issuers) | |
| By facsimile | RUR 885.00/month (no more than 10 issuers) RUR 1,062.00/month (10+ issuers) | |
The custody account maintenance fee is calculated by the depositary in full for the entire reporting period regardless of the number of operations carried out on a custody account and also the number of days in the reporting period, during which a custody account was in use.
The cost of services provided in accordance with Clause 2.2. and Clause 2.3 is calculated by the depositary in accordance with the tariffs offered by external registrars and depositaries. When receiving bills invoiced by external registrars and depositaries, and by the latter, in turn, invoiced to the Company, if need be, the Company will send the Client an additional bill for payment by the latter of services or transfer to the Client the amount of overpaid fees.
In the event that securities are transferred on an inter-depositary basis within the Company’s custody accounts as part of arbitrage transactions, with relevant notices thereof, such fees of the depositary are not charged.
* - an additional depositary fee related to the compensation of external expenses which include services provided by the registrar (transfer agent) and an external depositary.
** excluding cash collection fees (means one trip to deliver/return securities to/from the place of redemption, income payment, expert appraisal, etc.)
When storing securities with a depositary or a registrar chosen by the Client under the direct order of the Client, the Company’s expenses are compensated in accordance with the tariffs of such depositary.
This service implies advance payment of a certain amount of cash, which makes it possible to cover the Company’s expenses related to this service.
The service provided for in Clause 6.8. of these Tariffs shall be provided on the basis of an application additionally submitted by the Company’s Clients and by the Company to the relevant depositary.
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License Number: 073/06 dated: 18/09/2006 issued by Cyprus Securities and Exchange Commission Registration Number: HE 162676 |
Tel: +357 25 736 320 Fax: +357 25 736 340
E-mail: cyprus@finam.ru | |
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© 2007 Finamrus.com |
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