Schedule of Fees of CCP Austria Abwicklungsstelle für Börsengeschäfte GmbH

Transcription

1 Schedule of Fees of CCP Austria Abwicklungsstelle für Börsengeschäfte GmbH Schedule of Fees of CCP.A Page 1 of 8

2 Table of Contents A. Administrative Fees Fees for the participation in clearing and settlement via CCP.A Fee for the Management of Clearing Accounts in the CCP.A system Fees for the Registration of Clearing System Users Training and Exam Fees Fees for Test Support Due Dates and Value Added Tax on Administrative Fees... 5 B. Transaction-linked Clearing Fees for Trades on the Vienna Stock Exchange Cash Market Transaction Fees for the Clearing of Cash Market Trades Adjustment Fees Cash Market Due Dates and Payment of Transaction-linked Fees on the Cash Market... 6 C. Other Transaction-linked Clearing Fees for Trades on the Vienna Stock Exchange Collateral Management Fee Settlement Fees for the Settlement of Trades on ICS-Accounts Due Dates and Payment of Other Transaction-linked Fees on the Cash Market... 7 D. Communication Fees Fees for Reporting from the Clearing Systems and Giving Instructions to the Clearing Systems GUI Reports via FTP... 8 Schedule of Fees of CCP.A Page 2 of 8

3 A. Administrative Fees 1 Fees for the participation in clearing and settlement via CCP.A Participation in the role of General Clearing Member (GCM) Cash Market EUR p.a. Direct Clearing Member (DCM) EUR p.a. Non-Clearing Member (NCM) EUR p.a. Registered Client (RC) EUR p.a. Clearing Agent (CA) EUR p.a. 1. Annual participation fees are collected in advance for the current calendar year from clearing members (GCM or DCM), clearing clients (NCM or RC) or clearing agents (together participants ) of CCP.A in the amounts stated above. 2. For institutions that participate in several roles in clearing and settlement through CCP.A, the following discounts shall apply: Participant discounts in the case of multiple roles Role (ranked by weighting) Level Discount for Role A A 0 % for Role B B 50% for Role C and further ones C 70% 3. All annual fees due pursuant to para. 1 are considered by the amount of the annual fees due and ranked in descending order (role A, role B,...). The annual fee per role is calculated by applying the discounts in the table above for the participant discounts. 4. New members pay the participation fees for the first calendar year on a pro rata basis on the 1st of the month effective as of the signing of the relevant member contract for the subsequent calendar year. 5. When the role(s) of a member change (additional ones or discontinued), the participation fee is recalculated by ranking the roles of participants gain pursuant to para. 3. The new ranking is effective as of the 1st of the month following the change and the fee due at the beginning of the month. Participation fees already paid are credited to the amounts. 6. In the case of termination/withdrawal of participation in clearing and settlement for individual roles, fees already collected are refunded for every full month of the current calendar year in which the termination/withdrawal takes effect. Schedule of Fees of CCP.A Page 3 of 8

4 7. Monthly pro rata amounts are rounded off to the next full figure according to commercial practice. 2 Fee for the Management of Clearing Accounts in the CCP.A system 1. For every clearing member on the cash market, CCP.A sets up one position account (nonparticipating and participating members) at no charge for the purpose of booking agent positions and one position account for booking market maker and principal positions in the clearing system. For general clearing members (GCM), one position account per assigned non-clearing member (NCM) for booking agent positions and one position account for booking market maker and principal positions of the indirect clearing member is set up in the clearing system at no charge. 2. For the setup of further position accounts for cash market clearing upon the written instructions of a clearing participant, CCP.A shall charge EUR 100 per position account and month to the clearing participant. 3. The costs for setting up additional accounts for the positions of non- clearing members (NCM) are billed via the general clearing member (GCM). 4. Upon special request of clearing clients (NCM or RC), CCP.A sets up segregated ICS-accounts (Individual Client Segregation) for a fee, through which they are able to clear their trades separately from the Participating Clearing Member. 5. For creating an ICS account set (one position account, one settlement account and one cash collateral account), CCP.A charges a one-time fee of EUR 1,000 per ICS account set and monthly EUR 250 for account management. 6. The costs for setting up and managing ICS account sets for clearing clients are invoiced through their Participating Clearing Members and collected by CCP.A in accordance with the Clearing Rules. 3 Fees for the Registration of Clearing System Users For the registration and administration of authorized back office staff of a clearing member (Named Clearing User), CCP.A shall charge a monthly fee of EUR 40 as of the 4th Named Clearing User. For the administration of clearing system users, one Admin User per market may be set up upon request of the clearing member at no charge. 4 Training and Exam Fees 1. CCP.A shall charge fees for the training courses and exams held by CCP.A. Participation in the clearing training courses is optional. Schedule of Fees of CCP.A Page 4 of 8

5 Training fees for CCP.A clearing courses Training Course Cash market Vienna Clearing training, with discount Exam fee, cash market Vienna Training Fee EUR 600 per person EUR 450 per person EUR 200 per exam 2. When more than two persons of one firm register for one training course, CCP.A shall grant the firm a discount on the training fee, reducing it to EUR 450 per person. 3. CCP.A checks the qualifications and knowledge of the persons to be granted access to the clearing system pursuant to 3 as Named Clearing Users. It conducts market-based clearing exams and charges an exam fee per person and exam taken. 4. The successful completion of the clearing exam gives the person the right to receive a CCP.A Clearing Diploma and is a requirement for registration as a Named Clearing User pursuant to 3. Every clearing member must name at least one Named Clearing User per market (admission requirement). 5 Fees for Test Support 1. Tests and simulations of business processes or technical systems that are carried out by CCP.A on the written request of the clearing member or its clearing agent shall be invoiced to the clearing member on the basis of expenses incurred. CCP.A shall invoice EUR 100 per hour worked or per commenced hour of work to the clearing member. 6 Due Dates and Value Added Tax on Administrative Fees 1. The administrative fees plus applicable statutory value added tax shall generally be due within one week of being invoiced. 2. The administrative fees pursuant to 1 to 5 are understood plus value added tax in the applicable statutory amount. 3. In the event of delay in payment of administrative fees ( 1-5) plus applicable statutory value added tax, default interest will be invoiced in the statutory amounts pursuant to 456 Austrian Commercial Code (UGB) running as of the due date. B. Transaction-linked Clearing Fees for Trades on the Vienna Stock Exchange Cash Market 7 Transaction Fees for the Clearing of Cash Market Trades 1. The fees for the clearing and settlement of trades concluded on the Vienna Stock Exchange in CCP-eligible securities with the exception of trades booked to ICS accounts pursuant to 2 para. 4 are defined by the exchange operating company together with the transaction fees for trading as "all-in"-fees pursuant to the Schedule of Fees of Wiener Börse AG, Part 1, B, 9 et seq (accessible under Schedule of Fees of CCP.A Page 5 of 8

6 2. CCP.A charges this "all-in"-fee on behalf of the exchange operating company to the participating clearing members and collects this fee in accordance with the Clearing Rules. 8 Adjustment Fees Cash Market Adjustment fees cash market Adjustment fees Fee Basis of calculation Cancellation of cash market trade in clearing system EUR 150 per trade Cover purchase EUR 500 per trade Cash settlement EUR 500 per trade 1. The adjustment fees in clearing on the cash market are charged for the cancellation of trades, cover purchases and cash settlements according to the table above. They are paid by the clearing member that directly triggers the adjustment. 2. For the cancellation of a cash market trade in the clearing system, CCP.A charges a cancellation fee of EUR 150 to the ordering direct clearing participant. 3. CCP.A invoices a handling fee of EUR 500 to the responsible clearing member for the execution of a cover purchase. 4. CCP.A invoices a handling fee of EUR 500 to the responsible clearing member for the execution of a cash settlement 9 Due Dates and Payment of Transaction-linked Fees on the Cash Market 1. Transaction and adjustment fees for transactions pursuant to 7 to 8 shall be due on the fulfillment day of the trade. The fees are understood plus any applicable statutory value added tax (currently not entitled to deduct input VAT). 2. CCP.A shall be authorized to automatically withdraw the amounts due from a current account held by the clearing member. The corresponding general clearing members shall be responsible for the payment of the transactions fees by non-clearing members. C. Other Transaction-linked Clearing Fees for Trades on the Vienna Stock Exchange 10 Collateral Management Fee 1. For the administration of clearing collateral and the contribution to the Default Fund, CCP.A charges clearing members a monthly fee of 0.50 basis points of the amount administrated (calculation base), but at least EUR 100 per month per clearing member but as a maximum EUR 1,000 per month. The fee is understood plus any applicable statutory value added tax (currently not entitled to deduct input VAT). 2. The calculation base is the monthly daily average (clearing days) of the clearing collateral that must be deposited at the end of a trading day by a clearing member (including the clearing Schedule of Fees of CCP.A Page 6 of 8

7 collateral of the non-clearing members assigned to it) to which is added the required amounts for the Default Fund due on said day by the clearing member. 3. For booking or deleting the required or deposited clearing collateral, CCP.A charges the clearing members a fee of EUR 15 per booking. 11 Settlement Fees for the Settlement of Trades on ICS-Accounts 1 For free-of-payment-instructions (credit transfers or debits on ICS-securities accounts) in the case of transactions of clearing clients recorded in ICS accounts pursuant to 2 para. 4, CCP.A charges a settlement fee of EUR 2.50 between CCP.A securities accounts and ICS accounts per instruction for securities transfers. 2. The settlement fees for the trades of clearing clients pursuant to para. 1 are invoiced through the Participating Clearing Member of the clearing client and collected by CCP.A. 12 Due Dates and Payment of Other Transaction-linked Fees on the Cash Market 1. Other Transaction-linked fees pursuant to 10 to 11 shall be calculated and prescribed to the clearing member at the beginning of every calendar month on the basis of last month's data and shall be due within one week of being invoiced. 2 The fees pursuant to 10 to 11 are understood plus any applicable statutory value added tax (currently not entitled to deduct input VAT). 3. CCP.A shall be authorized to automatically withdraw the amounts due from a current account held by the clearing member. The corresponding general clearing members shall be responsible for the payment of the transactions fees by clearing clients. D. Communication Fees 13 Fees for Reporting from the Clearing Systems and Giving Instructions to the Clearing Systems 1. CCP.A does not charge any communications fees for standardized queries to the system (GUI reports) which are not older than 3 month and for instructions made via GUI (e.g. hold/release instructions) from the cash market clearing system. 2. CCP.A does charge a fee of EUR 150 for the subsequent delivery of standardized transaction and fee reports which are older than 3 month (historic reports) from the cash market clearing system per each data file (report) and day. 3. CCP.A does charge an expenditure-dependent fee for not standardized system queries to the cash market system, but at least EUR 100 per created report. 4. For reporting and giving instructions pursuant to ISO15022 via the SWIFT network, communication fees are billed directly between SWIFT and the clearing members or their clearing agents based on the terms they have accorded (Closed User Group). 5. Communication fees are charged pursuant to the price list of OeKB for reporting and giving instructions pursuant to ISO via a leased line or a VPN connection with Oesterreichische Kontrollbank AG ("OeKB"). Schedule of Fees of CCP.A Page 7 of 8

8 6. The fees according to para 2 to 3 are understood plus any applicable statutory value added tax and shall generally be due within one week of being invoiced. 14 GUI Reports via FTP 1. A clearing member may commission CCP.A with the automatic provision of GUI-Reports via FTP ("FTP-Reporting"). 2. For the initial setup of the FTP-Reporting CCP.A charges a fee of EUR 500 once, whereby this initial setup includes up to 5 reports. For the setup of an additional report or for the change of an existing report CCP.A charges a fee of EUR For the running costs of the FTP-Reporting CCP.A charges a monthly fee of EUR 150, whereby this fee of EUR 150 includes up to 5 reports. The monthly fee for the running costs increase by EUR 50 for each additional set of 5 repots. 4. A clearing member commissions the FTP-Reporting for an unlimited period and may terminate this commission with three months' notice on the last day of a calendar month. The clearing member waives its right of termination of the FTP-Reporting within the first 12 months after commissioning. 5. The fees pursuant to para 2 to 3 are understood plus value added tax in the applicable statutory amount and shall generally be due within one week of being invoiced. Schedule of Fees of CCP.A Page 8 of 8