DTC Schedule Last updated July 15, 2004 Introduction...2 Overview...2 Preparing to Use the Products...2 Usage s...2 Maintenance of Long Position...3 Intra-account Movement...3 Settlement Progress Payment (SPP)...4 Settlement...4 Payment Order Service...4 Receiver-Authorized Delivery (RAD) Transactions...4 Deliveries via Book-Entry (Non-MMI)...4 Money Market Instruments (MMI)...5 Continuous Net Settlement (CNS) System Deliveries via Book Entry...5 Override Delivery Instructions to Continuous Net Settlement (CNS) System...6 Failure to Settle...7 Flat Chart...7 Registered Certificate Deposits...8 Legal Deposits...9 Restricted Deposits...9 Withdrawals-by-Transfer (WT)...9 Urgent Withdrawals: Certificates on Demand (COD)...10 Collateral Loans...11 Reject Charges...11 Depository Facilities...11 Subaccounting...11 Investment Identification (Billed Under Subaccounting)...12 Dividend Credits...12 Reorganization...13 Underwriting/Eligibility...14 Special Agent s...17 Reconciliation Special Charges...17 Participant Output Service...17 Form Charges...22 Municipal Bearer Bond Service...22 Branch Deposit Service...24 Custody Service...25 New York Window Service...27 Transfer Agent Drop (TAD) Service...28 Participant Terminal System (PTS)...29 Mainframe Dual Host and Computer-to-Computer Facility Dedicated Lines...30 International/Tax Services...31 Web s...32 Customer Training s...32 1
Introduction Overview The Depository Trust Company (DTC) charges fees for each service that it provides. This service guide contains a list of each service and its corresponding fee for the Depository Trust Company. Preparing to Use the Products In order to use the products associated with this service, you must have access to one of the following: Participant Terminal System (PTS) CCF or CCF-II or Mainframe Dual Host (MDH) Contact your Relationship Manager for more information. Note DTC also provides various hard-copy reports. The fees that DTC charges for its various services are listed here. Each participant receives a monthly Billing Statement approximately ten days after the last business day of the month. The amount billed is charged through your DTC Settlement account if you are a DTC participant. Monthly invoices are sent to users of DTC services that are not participants. Usage s Description For each account up to five accounts For each account over five requested by a participant Pledgee (for each participant account) Pledgee (for each nonparticipant account) DRS accounts DRS application fee IPA accounts Interface department services for each account per month: Sorting Shipping Withdrawals-By-Transfer (WT) Urgent Withdrawals Withholding material from a participant's daily shipment from the Interface Department for pickup at DTC's window DRS Profile Surety Program (PSP) Purchase of surety coverage provided by St. Paul Fire and Marine Insurance Company. Participants, Transfer Agents, and limited participants may elect to use a different company. However, the surety bond must be in a form consistent with the bond issued by the St. Paul Fire and Marine Insurance Company. $760.00 per month $330.00 per month $330.00 per month in addition to the monthly usage charge $570.00 per month $275.00 per month $250.00 per application $330.00 per month $53.50 per month $87.59 per month $0.35 per WT $7.44 per COD $20.00 per occurrence or $40.00 per occurrence if the participant does not pick up the material on a same day basis. At cost 2
DTC Administrative $250.00 per year Maintenance of Long Position Description For each active issue monthly (for registered corporate issues when a daily average of more than 15 participants have position; for registered municipal issues when a daily average of more than two participants have position) For each less active registered corporate issue monthly (when a daily average of 15 or fewer participants have position) For each less active registered municipal issue monthly (when a daily average of two or fewer participants have position) For each 100 shares or $4,000 bonds (monthly) based on the average daily number of shares or bonds For each book-entry only (BEO) issue (monthly) For each Medium-Term Note (MTN) and Money Market Instrument (MMI) issue (monthly) Non-transferable Issue (up to 6 years) Non-transferable Issue (more than 6 years) State of Israel Cent-denominated and fractional shares For each security that is swung from one participant account to another as a result of a merger activity Fed-eligible issue $0.54 per issue $0.79 per issue $1.29 per issue $.0052: 0-25 million shares $.0013: excess over 25 million - 200 million shares $.000652: excess over 200 million - 300 million shares $.00005: excess over 300 million shares $0.35 per issue per month; no per bond/per share charge $0.60 per issue per month; no per bond/per share charge $0.17 surcharge per issue per month $1.00 surcharge per issue per month $0.40 surcharge per issue per month $0.61 surcharge per issue per month $0.20 per CUSIP instruction payable by each participant account $1.00 per issue per month Intra-account Movement Description Transfer position from the minimum account (MA) to the net additions account (NA) or vice versa via PTS $0.13 for each intra-account movement Note Use the DYMA and NTMA functions to transfer from the minimum account (MA) to the net additions account (NA). Use the DYNA and NTNA functions to transfer from the NA to the MA. 3
Settlement Progress Payment (SPP) Description Payment or withdrawal of payment $0.70 each Settlement Description Institutional Delivery Reclaim Receive or Delivery Inventory Management System (IMS) Delivery $0.16 per delivery $0.50 per receive or delivery $0.006 per delivery Payment Order Service Description For Premium Payment Orders (PPO) or Securities Payment Orders (SPO) $0.11 for each item delivered or received Receiver-Authorized Delivery (RAD) Transactions Description Receiver Authorization Receiver Cancellation Receiver does not authorize or cancel $0.10 to the receiver and deliverer $0.65 to the deliverer $4.00 to the receiver Deliveries via Book-Entry (Non-MMI) Description Registered Issues for each DO item presented via PTS, Mainframe Dual Host (MDH) or Computer-to-Computer Facility (CCF): Prior p.m. Opening in a.m. to cutoff Regardless of time ACATS Deliver Order DOs between participant accounts within a collateral group Cancel pending DO Dropped DOs For each DO not completed due to insufficient position in a participant's account, unless DTC's system shows the submitting participant's drop was caused by notice of a potential receive of a delivery One of the following fees: $0.17 to the deliverer $0.45 to the deliverer $0.27 per item received $0.17 per item $0.40 per transaction (billed to the deliverer only) $0.45 per item canceled One of the following fees: $0.44 for each item dropped 4
from another participant that subsequently dropped Deliverer Insufficient Collateral Receiver Insufficient Collateral or Net Debit Cap DTC/Deutsch Börse Clearing (DBC) link facility surcharge Hold or Release pending DO recycling for insufficient position Fed deliver order $0.44 to the deliverer $0.44 to the receiver $3.65 for each item delivered or received $0.45 per transaction $2.25 for each item delivered or received Money Market Instruments (MMI) Description DOs Money Market Instruments Assessments for the Bond Market Trade Associates (BMA). The BMA must send a letter to DTC authorizing the assessment before DTC charges the participant. Maturity or Reorganization Presentments Issuance Instruction (both dealer placed and directly placed) Pre-issuance Messaging (PIM): Communication messages between issuing/paying agents (IPA) and dealers that detail terms and conditions of MMIs prior to market issuance Turnaround: A turnaround DO is an MMI DO transmitted to DTC prior to the processing of an original issuance that would create the CUSIP. Issuance Deposit (book entry) MMI Issuance Receiver $0.70 to the deliverer $0.70 to the receiver One of the following: $0.20 for each item delivered or received, including each maturity presentment and Commercial Paper with a cap of $6,000 $0.20 for all other MMI trades with an annual cap of $6,000 $0.70 for each item delivered or received $0.70 to the issuer's agent $0.18 for each message charged to the deliverer $0.70 for each turnaround $0.70 for each item $0.70 for each item Continuous Net Settlement (CNS) System Deliveries via Book Entry Description CNS delivery: Deliveries related to CNS are made into or out of National Securities Clearing Corporation's (NSCC) account at DTC from or to another account at DTC. $0.16 for each item delivered or received (both sides) 5
Override Delivery Instructions to Continuous Net Settlement (CNS) System Description One regular DO fee is charged only to the submitting participant for each override processed specifying NSCC's CNS system as the receiver. $0.45 to the deliverer 6
Failure to Settle The following charts contain information about failure-to-settle charges. The Interest Rate Matrix contains information about the interest rates DTC would charge you if it borrowed money to cover the failure to settle. The Flat chart contains penalty information. Description Participant Net Debit: First 5 million 6 25 million 25 75 million Above 75 million One of the following interest rates: 2.0% 1.5% 1.0% 0.5% Example: Interest is calculated overnight on a 360 day/year basis. For a net debit of $100 million dollars, the fee interest calculation is: [($5MM X 2%) + ($20MM X 1.5%) + ($50MM X 1%) + ($25MM X 0.5%] 360 = $2,847 Flat Chart Participant Net Debit First Occasion Second Occasion Third Occasion Fourth Occasion $0 100,000 $100 $200 $500 $1,000 $100,001 900,000 $300 $600 $1,500 $3,000 $900,001 1,700,000 $1,700,001 2,500,000 $600 $1,200 $3,000 $6,000 $900 $1,800 $4,500 $9,000 $2,500,001 Up $1,000 $2,000 $5,000 $10,000 Example (continued): For a first occasion $100 million net debit, total fees equal $2,847 (fee interest) + $1,000 (flat fee) = $3,847. Notes 1. interest is charged to the participant that failed to settle, in addition to the interest charged for the cost of borrowing to complete settlement. 2. The number of occasions will be determined over a moving three-month period. A participant that exceeds four failure-to-settle occasions in a three-month period will be subject to further fees and/or other actions at DTC's discretion after consultation between the participant and DTC. 3. If DTC determines that it had greatly affected a participant's ability to settle (because of a DTC system delay, for example), DTC will waive failure-to-settle fees for that occurrence. 7
Registered Certificate Deposits Description For each registered certificate deposit $2.15 per deposit A certificate charge per deposit A record date deposit surcharge for deposits of securities made on the record or cutoff date, for the distribution of any entitlement A mail issue surcharge for the deposit of any security issue that DTC must mail or otherwise send out of the metropolitan New York area for transfer Deposit at FAST Transfer Agent (TA) custodians and other custodians using the DWAC function Nontransferable issues Previous Reverse Split (PRS) DAM Deposit Surcharge Research fee for research conducted outside of the usual processing and at the special request of the customer There is no charge for the first 10 certificates. After that, the fee is $0.30 cents per group of 10 certificates plus the original deposit fee. $5.00 per record date deposit $1.50 per deposit $1.50 per deposit $6.25 per deposit $6.25 per deposit $1.00 surcharge per deposit for deposits submitted without a DAM deposit ticket $55.00 per hour 8
Legal Deposits Description Full-Service deposit fee (includes examination by DTC) Basic Deposit (no examination by DTC) Tracking Service available for Full-Service and Basic- Service deposits A mail issue surcharge for the deposit of any security issue that DTC must mail or otherwise send out of the metropolitan New York area for transfer Telephone Notification (optional addition available for Full Service only) $6.25 per deposit $2.71 per deposit $0.20 per deposit $1.50 per deposit $3.58 per deposit Restricted Deposits Description Restricted deposit service (RDS): enables participants to deposit restricted securities in DTC-eligible issues that were sold (fully or partially) and whose restriction is being lifted. This also accommodates other types of restricted security transfers such as gifting and denomination changes. Processing trailing documents RDSmail forwarding fee: for completed transfers returned by the agent, DTC (with participant instructions) will mail securities to the participant s customer $45.48 per deposit plus any pass-through fees imposed by the Transfer Agent $3.48 per item $18.52 per DMD item Withdrawals-by-Transfer (WT) Description For each assignment concluding in direct mail by DTC For each assignment concluding in delivery to a participant For each assignment concluding in direct mail by the transfer agent or Direct Registration Statement (DRS) $9.50 per assignment concluding in direct mail by DTC. A charge of $3.00 also applies for each assignment resulting in direct mail by DTC plus postage and insurance. $9.50 per assignment concluding in delivery to a participant $5.00 per assignment concluding in either direct mail by the transfer agent or a Direct Registration Statement (DRS). s are not inclusive of transfer agent charges for each assignment resulting in direct mail. 9
Description Hold and Bust: For each assignment initially withheld at request of the participant and thereafter directly mailed For each assignment canceled at the request of the participant where assignment was not withheld prior to direct mail For each assignment canceled at the request of the participant after being withheld at the request of the participant For each Direct Registration Service (DRS) deliver order transaction (receives and deliveries) To establish a DRS account with a subsequent mailing transaction A mail issue surcharge for the withdrawal of any security issue that DTC must mail or otherwise send out of the metropolitan New York area for transfer For each rush transfer requested Withdrawal at FAST TA custodians and other custodians (DWAC) Direct Registration System (DRS) Certificate Direct Mail by Depository (DMD) Returns Participant charge for initiating a DRS Profile Transaction Participant charge for canceling a previously entered DRS Profile Change prior to Limited Participant Account (LPA) action LPA charge for initiating a DRS Profile Change via the DRST PTS function LPA charge for canceling a DRS Profile Change via the DRST PTS function $1.00 per item withheld $1.54 per item canceled $1.28 per item canceled plus the withholding fee $0.45 per transaction $0.55 per transaction advice for mailing and handling $1.50 per assignment $65.00 per assignment plus a pass-through of any rush transfer fees charged by the agent $1.50 per withdrawal $5.00 per certificate $25.00 per return $0.31 per transaction $0.31 per transaction $0.40 per transaction $0.40 per transaction Urgent Withdrawals: Certificates on Demand (COD) Description For each withdrawal (COD) submitted via PTS For each critical withdrawal request A mail issue surcharge for the withdrawal of any security issue that DTC must mail or otherwise send out of the metropolitan New York area for transfer Unclaimed securities that were not picked up the business day they were ordered COD drop $41.70 per withdrawal $75.00 plus any special costs and TA fees $1.50 per withdrawal $15.00 per unclaimed withdrawal $2.00 per dropped item 10
Collateral Loans Description For each security (line item) pledged, released, or substituted via PTS, CCF, or MDH For each security demanded by a pledgee bank via the DCL PTS function For each valued pledge or release Collateral Loan Report A detailed daily report of a bank or broker participant's DTC collateral loans valued to the market Individual daily copies of this report available upon request For each option security (line item) pledged, released or substituted via PTS $0.14 per line item payable by both the pledgee and pledgor for each transaction $0.14 per line item payable by both the pledgee and pledgor for each transaction $0.83 per line item payable by both the pledgee and pledgor in each transaction One of the following fees: $0.03 per line item with no minimum charge for each participant subscribing to the report service $25.00 per copy $0.14 per line item payable by both the Options Clearing Corporation (OCC) and pledgor for each transaction Reject Charges Description For each deposit, WT, and COD corrected or returned to a participant because of a participant's error $50.00 per reject Depository Facilities Description Facility Usage Facility Deposit $0.73 per deposit, plus telephone costs to dial back the facility, with a $100.00 minimum per month $0.40 per deposit chargeable to the depository participant, plus the regular deposit fee and certificate charge. A depository participant is usually one that accepts deposits from a DTC participant. Subaccounting Description To segregate a portion of a participant's security position via PTS, MDH, or CCF Memo Segregation (MSEG ) PDA Release $0.13 for each movement into or out of the subaccount $0.09 per request $0.11 per request 11
Investment Identification (Billed Under Subaccounting) Description To segregate and identify a portion of a participant's security position for tax identification purposes via the INID and RNID PTS functions $0.13 for each movement into or out of the Investment Identification account Dividend Credits Description For each stock dividend payment For each cash dividend or interest payment Corporate Issues Floating Payable Date Securities (ARPs, ARNs) ABS/CMOs MMIs Stock Loan Income Tracking and REPO tracking adjustments Stock Fail Adjustments For each municipal interest payment Registered municipal issues VRDOs Invalid dividend/interest claim Photocopying Cash Adjustment Notices, Share Adjustment Notices, Dividend Cash Settlement Lists, and Cash Dividend Record Date Notices previously provided to participants For each adjustment of trade proceeds for certain CMO or Asset-Backed transactions resettled with the correct factor (CTAS ) $8.87 per credit One of the following fees: $1.31 per credit $2.40 per credit $2.60 per credit $0.98 per credit $0.31 per credit and debit $1.32 per adjustment One of the following fees: $1.53 per credit $2.90 per credit $70.00 research charge per claim $8.00 per copy upon request $0.31 per credit and debit For each Dividend Reinvestment Program (DRP) instruction to receive stock in lieu of a cash dividend $14.00 per allocation For each automatic dividend reinvestment CRS (Cash-in-Lieu/Roundup) Service Election: Allows participants to liquidate full shares for cash-in-lieu of fractional shares and to round up the fractional entitlements on behalf of its beneficial owners $8.87 per allocation $35.00 per election 12
Reorganization Description Conversions, Warrant Subscriptions, and Rights: For each share of common stock resulting from the conversion of bonds or preferred stocks and warrant subscriptions/rights for each instruction submitted From one to 400 common shares 401 to 2,000 common shares 2,001 and over common shares Unit Swingovers Mandatory Exchanges/Redemptions Corporate Issues Registered Municipal Issues Fully Pre-funded Securities Pass-through of Shipping Charges for early CD Redemption Processing security swings resulting from a name change Reorganization Deposits Mandatories (regular and legal) Redemptions/Calls (regular and legal) Two DO fees plus one of the following: $15.24 per transaction minimum $0.038 per share $76.00 per transaction maximum $9.06 per swingover instruction plus three DO fees One of the following fees: $19.40 per participant position $17.50 per participant position. An additional fee of $0.17 per $1,000 with an $80.00 maximum transaction fee is charged for certificated issues only. The portion of this fee associated with face value will not be applied to Registered Municipal Book-Entry-Only (BEO) issues. $7.00 per participant position on the day that an issue is updated to reflect a future fully refunded event At Cost $6.60 per participant position One of the following fees: $53.00 per deposit $31.50 per deposit Sale of Rights Voluntary Exchange/Tender Offers Protect Submissions Rights Protect Low-Volume Offer processing. A low-volume tender offer is one in which the offeror is seeking to purchase for cash up to 5% of the outstanding shares of an equity issue or any amount of a debt issue. Low-volume tender offers do not include exchange offers or offers by the issuer of the target security. Payment must be made in advance by the offeror with a certified check or by a wire payment. If DTC receives more than $2,900.00 from the tender offer acceptance fees paid by participants in a low-volume tender offer, the entire lowvolume tender offer processing fee of $2,900.00 will be refunded to the offeror after the conclusion of the offer. $35.00 per LT transaction $35.00 per letter of transmittal, $20.00 Offer Service fee per position holder, $20.00 Voluntary Offering Instruction fee for the first 50 instructions, and $0.70 for each new instruction over 50. $4.15 per transaction $4.15 per transaction $2,900.00 per security involved in the low-volume offer 13
Photocopying Important Notices previously provided to participants Change Mode of Payment (CMOP) Service Investors Voluntary Redemptions and Sales (IVORS) Remarketing Agent Proxy Record Date Meetings for all holders identified on the record date capture for Proxy meetings Dissent letters/shareholder demands $8.00 per copy per request $6.42 per CMOP plus two DO fees $1.71 per redemption or sale $17.50 per transaction in the agent s account $0.50 per participant record date position $400.00 per Dissent Letter or Shareholder Demand processed Underwriting/Eligibility Description Certificated Issues Issues with one CUSIP number Issues with more than one CUSIP number Insured Custodial Receipts Book Entry Only (BEO) Issues Basic Eligibility Complex Eligibility Certificate of Deposit (CDs) Insured Custodial Receipts Unit Investment Trust (UIT) Deposits SBA Loan Pools Limited Underwritings Service for Municipal Issues with a principal value of $1 million or less at maturity Issues with one CUSIP number Issues with more than one CUSIP number IPO Tracked Issues $750.00 for one CUSIP plus $3.00 per million with a total maximum fee of $2,000.00 and any unusual expenses. $1,000.00 for more than one CUSIP number plus $3.00 per million with a total maximum fee of $2,000.00 and any unusual expenses. $180.00 per CUSIP $275.00 and any unusual expenses for a basic BEO issue regardless of the number of CUSIPs. This fee applies to most security types unless listed under another fee category. $400.00 and any unusual expenses for a complex BEO issue regardless of the number of CUSIPs. This fee applies to the following security types: Derivatives (municipal, equity, or debt) Closed End Funds Limited Partnership Common Stock Unit Equity or Debt Collateralized Mortgage Obligations (CMO) plus surcharge Asset Backed Securities $125.00 per CUSIP and any unusual expenses $90.00 per CUSIP and any unusual expenses $35.00 per CUSIP $90.00 per issue $61.00 per issue and any unusual expenses $131.00 per issue and any unusual expenses $4,975.00 for each 30-day period, or portion thereof, that a new issue is tracked (maximum of $14,925.00). This fee is not prorated on a daily basis. 14
Money Market Instruments (MMI) MMI Eligibility MMI Modifications MMI Late Filing Surcharge MMI IPA Program Changes $250.00 per program eligibility submission $300.00 per CUSIP $300.00 per program. The eligibility form was received the same day of the first issuance. $250.00 one-time charge per IPA program change charged to a new IPA Eligibility Surcharges Non-receipt of final documents Put Options Jumbo Certificates Letter of Possession Submission of a Letter of Representation (LOR) versus a Blanket Letter of Representation (BLOR) $300.00 surcharge applies when final documents are not received by 10 business days after the closing date $350.00 surcharge applies to issues with a put option feature to cover the costs associated with reviewing the official statement and establishing a database through which put periods are monitored. $300.00 surcharge per issue $1,000.00 per issue. This fee is charged to the lead manager for distribution of a new issue security without delivery of the physical securities to DTC prior to the issue s closing. $300.00 per letter CMO Surcharge $50.00 per CUSIP after the fifth CUSIP plus the $400.00 BEO complex eligibility fee. S&P CUSIP Assignment $14.00 or at cost Unnecessary Research $50.00 per duplicate requests for S&P CUSIP assignment Late Surcharges New Issue when Closing Documents are Received: Two Days Prior One Day Prior Same Day Late Submission of a Letter of Representation/Blanket Letter of Representation received on the closing day Late submissions: Insured, CDs, UITs, and SBA received on the closing day Late Closings received after 2:00 p.m. eastern time $500.00 $2,500.00 $5,000.00 $300.00 per issue $300.00 per issue $300.00 per issue PUND/WUN Reduction A reduction in fees is provided to those who use the Direct Participant Entry of Underwritings (PUND) PTS function. This function allows users to input issue information into DTC s Underwriting database. Small Business Administration (SBA) $18.00 discount per issue Certificate of Deposits (CDs) $25.00 discount per CUSIP Insured Municipal/Corporate $25.00 discount per CUSIP Municipal/Corporate Issues $52.00 for issues with one CUSIP $107.00 for issues with more than one CUSIP 15
Web Underwriting (WUN) function reduction in fees is provided to those who use WUN to input new issuance information into DTC s Underwriting database. This fee includes the discount for CDs. $52.00 for single CUSIP issues $107.00 for multiple CUSIP issues 16
Special Agent s Description s charged by transfer agents for the cancellation and issuance of certificates of certain non-nyse listed issues. These fees are charged for deposits, Withdrawals-By-Transfer, and reorganization activities Transfer agent fee for Urgent Withdrawals (CODs) A direct charge back of the fees charged by the transfer agent, plus a $1.00 transaction fee. $22.00 or $33.00 per fee-bearing issue Reconciliation Special Charges Description Photocopies of statements or certificates Record of certificate numbers Researching aged and other special items $8.00 per copy upon request $1.00 per certificate number upon request According to nature of research, upon request Participant Output Service Description Books Closing Report, Due Bill Report Position Statement By CUSIP: Lists the total quantity of securities in which the participant has a position (this is a daily report) Daily Activity Statement: A detailed statement of your activity (deposit, WT, COD, DO, etc.) on a given business day Settlement Statement: A detailed statement of your settlement activity on a given business day Data Delivery Service Description Master Dividend Update Description Update Hard copy: Daily, $165.00 per month Hard-copy: upon request, $20.00 per copy Hard-copy reprint: upon request; $20.00 per copy Hard-copy reprint: upon request, $20.00 per copy Hard-copy: Daily basis; $165.00 per month $150.00 per file $150.00 per file per month $75.00 per file per month 17
Description Dropped Deliveries, Dropped CODs, and Cash Dividend reports CCF Output Transmissions: Eligible Securities List with security descriptions (separate charge for corporate and municipal securities) Eligible Securities List, CUSIPs only (separate charge for corporate and municipal securities) Daily Changes in Eligible Securities List Eligible Participants List Daily Participant Account Activity Daily Participant Account Activity $30.00 per month per report series plus $0.10 per line item $140.00 per request $50.00 per request $32.00 per month $15.00 per request $120.00 per month $120.00 per month Daily Participant Closing Balances Daily Cash Settlement Reorganization, Dividend, and Proxy Record Date Position Information WT Detail Balances Completed WT Items Participant Account Return Payment Order Transactions Municipal Bond System Announcements Dividend and Proxy Announcements Domestic Tax Reporting Master File (DTAX) Domestic Tax Reporting Update File (DTAX) Reorganization Data Collateral Loan Report for Pledgee Banks Automated Call Lottery Results Legal Deposit Tracking Data MTN Issuance Data CUSIP (compressed format) CUSIP Description (compressed format) Participant Closing Balances (compressed format) CMO Rate and Factor Report CMO Trade Adjustments $93.00 per month $7.00 per transmission per slice with a minimum fee of per slice $93.00 per month $200.00 per request $150.00 per month $48.00 per month $138.00 per month $90.00 per month $7.00 per transmission per slice with a minimum fee of per slice ACATS CCF Files: - ACATS Settling Origination Receive and Deliver Instructions - ACATS Settling Organization Reject Report - ACATS EOD Member Report - $7.00 per transmission with a minimum fee of $120.00 per month 18
- ACATS EOD Deliver Instruction Report - ACATS EOD Receive Instruction Report - ACATS EOD Settlement/Option Report - ACATS Multi-Cycle Participant Activity - ACATS Fund/SERV Deliver Instruction Midday - ACATS Fund/SERV Receive Instruction Midday - ACATS Fund/SERV Member Firm Report DTAX (CCF) Reclassification of income for U.S. securities primarily REITs and mutual funds (used for 1099 reporting) MMI Cash Settlement Dividend Allocation File MMI Cash Settlement Dividend Projection File MMI Cash Settlement Dividend Unallocated File MMI Cash Settlement Reorganization Allocation File MMI Cash Settlement Reorganization Projection File MMI Cash Settlement Reorganization Unallocated File Cash Settlement End of Day Unallocated Funds File Cash Settlement Production File Dividend/Reorganization Cash Settlement Information Cash Settlement Unallocated Funds File Expanded Dividend and Proxy System Announcements Reorganization/Record Date Position Participant Receive/Deliver Activity 06:30 Cut Elective Dividend System Information via DTF/DF2 Legal Deposits Participant Account Activity 06:30 Cut Dividend and Proxy System Reports EOD DWAC Accepts and Rejects via DTF EDS Paying Agent Report via DTF Eligible Corporate Security File Adjustments Eligible Haircut Security File Adjustments - $7.00 per transmission per slice with a minimum fee of $120.00 per month per slice $7,500.00 annually $56.00 per month $120.00 per month $120.00 per month $7.00 per transmission per slice with a minimum fee of per slice $55.00 per month $32.00 per month $32.00 per month 19
Eligible Municipal Security File Adjustments MBS P&I Announcements MBS P&I Announcements (User Specific version) MMI Preliminary Dividend Cash Settlement MMI Final Dividend Cash Settlement MMI Preliminary Reorganization Cash Settlement MMI Final Reorganization Cash Settlement Reorganization/Record Date Position for MMI Issues Eligible Money Market Instrument Security File Updates MTN Issuance, Cancellation, and Withdrawal Activity MTN Issuance, Cancellation, and Withdrawal Activity via DF2 Federal Reserve MTN Issuance, Cancellation, and Withdrawal Activity MTN Issuance, Cancellation, and Withdrawal Activity History Municipal Bond System Announcement (compressed version) Dividend/Reorganization Cash Settlement Information Withdrawal-by-Transfer Detail Balances Participant Account Return Payment Orders Dividend & Proxy System Reports Dividend & Proxy Reports (new) Participant Specific Lottery Information Reorganization Envelope Data (expanded version) Reorganization/Record Date Position Reorganization Envelope Data Same Day Cash Settlement $32.00 per month $120.00 per month $32.00 per month 20
Next Day Allocation of Stock Loan Cash Settlement Activity Next Day Projected Stock Loan Cash Settlement Information Stock Loan Cash Settlement Activity Creates Unallocated Stock Loan Cash Settlement Files via DTF Withdrawal-by-Transfer Items Completed DTF File of Restricted Transfer Agents Withdrawal-by-Transfer Detail Balances WT Detail Items: A magnetic tape of the outstanding WT transactions that updated the participant's account balance A magnetic tape of the previous day's completed WT items that DTC received from the TA Legal Notices via the LENP PTS function Note Legal Notices may also be viewed on the Web. $7.00 per transmission per slice with a minimum fee of per slice $93.00 per month $40.00 per request $40.00 per request $0.48 per page 21
Form Charges Description For forms (including blank magnetic tapes) provided by DTC Pass-through of costs plus handling charges Municipal Bearer Bond Service Description Long Position: For each active issue per month (held by more than two participants) For each less active issue per month (held by one or two participants) Monthly charge on face value For each book-entry only (BEO) issue monthly A monthly surcharge on all positions in Book Bond issues (the certificates are bound in a book) A monthly surcharge on all positions requiring coupon collection from Paying Agents located outside the metropolitan New York area A monthly surcharge on all positions in multiple purpose issues A monthly surcharge on all positions in issues denominated in units of $1,000 Fractional shares Deposits (by issue) A surcharge per deposit of certificates without CUSIP numbers One of the following fees: $0.85 per issue $1.70 per issue $0.000006790: $0 $0.5 billion $0.0000016988: excess over $0.5 billion up to $1 billion $0.0000008402: excess over $1 billion up to $8 billion 0.0000004201 excess over $8 billion $0.35 per issue per month; no per bond/per share charge $1.05 for each position in addition to the per issue charge $0.25 per issue in addition to the per issue charge $0.50 per issue in addition to the per issue charge $0.50 per issue per month $0.61 per issue per month $6.25 plus a $2.00 charge per group of 10 certificates after the first 10, with a maximum total deposit charge of $14.25. A DAM deposit surcharge of $1.00 per deposit is assessed for submission outside the DAM system. In a deposit of more than 150 certificates, each group of 150 certificates is charged as a separate deposit. A bulk deposit discount is available under certain conditions. $0.65 per deposit in addition to the deposit fee for such issues 22
Description CODs For each COD in a bearer issue requested on an overnight basis via the NCOB PTS function Unclaimed (when the COD was not picked up during the day that the withdrawal was ordered) $35.75 plus a charge after the first 10 certificates of $4.00 per group of 10 certificates with a maximum total of $51.75. If more than 150 certificates are withdrawn, each group of 150 certificates is charged as a separate withdrawal. $28.00 per unclaimed withdrawal Interest Payments $6.50 per credit plus $0.07 per $1,000.00 DOs Via PTS, MDH, or CCF CNS Deliveries $0.45 for each item delivered and $0.27 for each item received $0.16 for each item delivered or received Redemptions/Maturities (full or partial) $17.50 plus $0.17 per $1,000.00 with an $80.00 maximum Coupon Collection Service Shells where the applicable CUSIP number is contained on the shell Shells where a customer-assigned identifier is contained on the shell instead of the CUSIP number Rejected shells $21.00 per shell $23.00 per shell $15.00 per shell ACATS Deliver Order $0.17 per item Dropped DO $0.66 for each dropped item DOs between participants within a collateral group $0.40 per transaction (billed to the deliverer only) Hold or release pending DO recycling for insufficient $0.45 per item canceled position Transfer position from the minimum account (MA)to the $0.13 for each intra-account movement net additions account or vice versa via PTS 23
Branch Deposit Service Description Core Services: For each regular deposit received from a branch For each legal deposit received from a branch (legal documents are needed to make the deposit negotiable) Non-Core Services: For receipt of each internal package containing information sent to DTC by a participant For recycling of each non-core internal package For consolidation of multiple deposits For research of CUSIP name change For change/correction of deposit type For discarding unused bar-coded tickets For telephone notification of errors For return of PEND or PELD items For verifying package receipts For registration correction Exception Processing: Adding branch items Processing multi-deposit exceptions Performing SIC (Securities Information Center) processing Making calls to the Transfer Agent (TA) for SIC items Processing responses to error conditions Processing same-day rejects Processing trailing documents or PEND items For please codes (an item that needs to be placed into DTC s Master file as soon as possible) One of the following fees: $2.49 per deposit $7.80 per deposit One of the following fees: $0.30 per envelope $0.03 per envelope $0.44 per consolidation $15.00 per change $0.14 per change $0.01 per ticket $3.58 per call $3.43 per item $2.03 per package $0.70 per registration correction One of the following fees: $2.75 per item $4.45 per exception $1.75 per deposit $8.14 per call $0.60 per deposit $4.50 per reject $3.43 per item $1.08 per item 24
Custody Service Note Custody Service is subject to a minimum charge of $500.00 per month. Description Core Services: For each withdrawal and pickup (COD) For each withdrawal and subsequent deposit that occurs after the withdrawal For each withdrawal and shipment out For each partial withdrawal For each custody transfer For each rush transfer For certified mail cost of certificated mail and return receipt For each withdrawal concluding in direct mail For each restricted transfer For each custody issue when coupon clipping and collection are done Photocopying and forwarding copies of certificates or documents Imaging, fax or E-mail For each full service Reorg deposit with existing envelope For each receive and delivery to the custodian (foreign securities) For each settlement deliver For each settlement receive For each custody deposit For each trailing document For long position One of the following fees: $30.00per withdrawal and pickup $24.00 per withdrawal and deposit, plus the branch deposit fee $24.00 per withdrawal and shipment $24.00 per partial withdrawal, plus the custody COD fee $30.00 per transfer $65.00 per rush transfer At cost $3.62 per withdrawal, plus the custody transfer fee $45.48 per restricted transfer $9.00 per coupon $15.00 per copy $5.50 per deposit for the first recipient and $2.00 for additional destinations (maximum of six) $65.00 per reorg deposit (includes custody deposit fee) $7.48 per custodian receive and deliver, plus the custody deposit fee and the custody withdrawal and shipment fee $17.13 per deliver $24.79 per receive $4.86 per deposit $4.50 per item $0.56 per certificate per month 25
Description Non-Core Services: For special mail or customized letters For custody hold and pending release For box-to-box activity For cancel processing For account number change For certificate or document re-imaging via the DIP system For non-securitized receive sort For government security deposit Verifying package receipts For registration correction Exception Processing: For each withdrawal that was not picked up For transfer reject For restricted transfer reject For a reorg reject For reject from the custodian (foreign securities) For custody deposit reject For government security reject For restricted transfer exception For a reorg deposit with no envelope For a deliver reclaim For a receive reclaim For post-settlement reclaim For a same-day Master File addition For please codes For message facility surcharge For box-to-box audit count For customer audit count Front end reorg reject One of the following fees: $5.50 per item $14.03 per reject placed in the research box $9.06 per move $16.00 per item canceled and returned to the sending box $5.00 per change $3.28 per image $4.50 per receive $6.52 per deposit to DTC/MBS or DTC/New York Window (NYW), plus the custody deposit fee and the custody withdrawal and shipment fee $2.03 per package $0.70 per registration corrected $28.42 per withdrawal not picked up $37.93 per reject $37.93 per reject $50.00 per reject $37.93 per reject $37.93 per reject $37.93 per reject $48.06 per item $85.00 per item $24.71 per reclaim $17.96 per reclaim $16.75 per reclaim plus the custody settlement deliver fee $30.75 per CUSIP $1.08 per item $0.30 per instruction $0.51 per certificate $0.10 per certificate $37.93 per reject 26
New York Window Service Description Receives: Envelope Settlement (ESS)/Funds Only Settlement Service (FOSS) receives Over the Window (OTW) Receives (including government receives) Branch receives without Securities Info Center (SIC) ESS/FOSS reclaim receipts Internal cross receive OTW reclaim receive Deliveries: Envelope Settlement (ESS)/Funds Only Settlement Service (FOSS) deliveries ESS/FOSS reclaim delivery Internal cross delivery Over the Window (OTW) deliveries (including government deliveries) OTW reclaim delivery Transfers: Restricted Transfers Regular and Government Transfers Direct Clearing Transfers Physical Processing: DTC Deposits COD Pickup $10.15 per receive $14.95 per receive $6.50 per receive $10.15 per item $9.70 per receive $15.80 per item $10.15 per delivery $10.15 per item $9.70 per delivery $15.80 per delivery $14.95 per item $45.48 per transfer $25.69 per transfer $14.50 per transfer $4.20 per deposit $4.00 per item Other: Return to Customer Messenger service (accommodation) Daily Balancing DTC Legal Deposits (examination only) DTC rejects Long position Research Pass-through fees $.30 per security $12.00 per trip $7.50 per hour $15.00 per day $5.50 per deposit $4.00 per reject $0.05 per CUSIP per day $55.00 per hour At cost 27
Transfer Agent Drop (TAD) Service Description Monthly service fee Window tickets Microfilm: Roll Labor Daily valuation: Up to 25 window tickets 26 to 75 tickets 76 to 100 tickets More than 100 tickets Late closings: Midnight Up to 3:00 a.m. Same day notification Same day cancellation DTC holiday up to midnight DTC holiday up to 3:00 a.m. Items returned to DTC in error Aging untransferred items older than 15 business days $2,000.00 per month $1.00 per ticket $16.00 per roll $15.00 per hour $25.00 per day $75.00 per day $150.00 per day $250.00 per day The following fees apply : $2,000.00 per occurrence $3,000.00 per occurrence $5,000.00 per occurrence $1,000.00 per occurrence $5,000.00 per occurrence $7,500.00 per occurrence $50.00 per item $50.00 per item 28
Participant Terminal System (PTS) Description PTS Terminal: A basic configuration consisting of one CRT and one printer, with controller and router at a participant's site Dial backup (ISDN/Switchway): ISDN equipment and associated telephone lines for use when a participant's dedicated frame relay circuit is inoperable Switchway equipment and associated telephone lines for use when a participant's dedicated 56K analog circuit is inoperable Contingency Site: For CCF, PTS, and MDH installations, connections to the DTC contingency site PTS Jr. terminal to be secured by the participant: All input/output fees that apply to PTS are the same for PTS Jr. Additional CRT: Each additional CRT added to the basic configuration of one CRT and one printer Additional printer: Each additional printer added to the basic configuration of one CRT and one printer Circuit modem/router: For equipment owned by the participant Installation Charges: One-time vendor charges to install telephone lines, ship equipment and provide DTC training Dedicated and dial backup lines in New York City Dedicated and dial backup lines outside the New York City area Basic PTS configuration (one CRT and one printer) Additional CRT Additional printer Modem/router Shipping the equipment Training by DTC on site $300.00 per month, plus line charges and applicable sales tax One of the following fees: $125.00 per month up to 56KBps $180.00 per month, plus pass-through charges from the telephone company, plus usage 56KBps One of the following fees: $85.00 per month up to 14.4 KBps $100.00 per month for 56KBps $55.00 per month access fee, plus a line charge and applicable sales tax $50.00 per month up to 14.4 KBps, plus applicable sales tax $100.00 per month, plus applicable sales tax $100.00 per month up to 14.4 KBps, plus applicable sales tax Out-of-pocket expenses Out-of-pocket expenses Out-of-pocket expenses Out-of-pocket expenses Out-of-pocket expenses Out-of-pocket expenses Out-of-pocket expenses Out-of-pocket travel expenses 29
Description Inquiries, Unsolicited Messages, and Messages: participant inquiries about security positions, security eligibility, aged WT instructions, and money settlement figures; messages about activities affecting a participant's securities, etc. Pre-update Edits: allows a participant to edit a deliver order or withdrawal instructions prior to updating in DTC's system Broadcast: to send messages to other participants in the DTC terminal network Participant Exchange Service (PEX): to transmit forms for buy-in notices IVOR message GWIZ original issuance GWIZ DTC processing $0.10 per inquiry or message $0.10 per edit $0.18 per 300-character message per addressee $0.34 per form delivered or received $0.18 per message $0.25 per item $0.20 per item Mainframe Dual Host and Computer-to-Computer Facility Dedicated Lines Description Equipment and associated telephone lines Spare modem/router One of the following fees: 14.4 KBps: $575.00 per month for modem and related equipment, plus applicable line charges 56 KBps: $1,800.00 per month for modem and related equipment, plus applicable line charges $50.00 per month 30
International/Tax Services Note All fees for DTCC Global Tax Services listed below are for delivery over DTC's Participant Terminal System (PTS). DTC TaxInfo SM on the Web is offered on DTC's closed Web site, at www.dtc.org and on PTS. Description DTC TaxInfo SM on the Web DTC TaxInfo SM (via the EDS PTS function) Online tax information database DTC TaxRelief SM (via the EDS PTS function): Relief from foreign country withholding taxes utilizing DTC s Elective Dividend Service DTC TaxRelief SM (via the EDS PTS function): Postpayable relief from foreign country withholding processed through the EDS PTS function DTC Tax Reclaim SM (via the EDS PTS function): Online reclaim form preparation service to be used when Tax Relief does not apply Foreign Currency Payment Option (via the EDS PTS function): Facilitate payments in currency other than U.S. dollars Direct Payment Service DTC TaxRelief SM (via the EDS PTS function): Postpayable date manual tax service-related adjustments DTAX (CCF): Reclassification of income for U.S. securities, primarily REITs and mutual funds (used for 1099 reporting). DTAX (PTS): Online PTS inquiry to review reclassification of income payments. Corporate actions database containing information on the taxable consequences of corporate actions. DTAX (Web): Information on distributions received for domestic securities; reclassification of income for U.S. securities, primarily REITs and mutual funds (used for 1099 reporting). Corporate actions database containing information on the taxable consequences of corporate actions. U.S. Tax Withholding Service: Withholding of U.S. taxes on domestic securities paid to a foreign entity $2,400.00 yearly subscription $1.00 per inquiry 0.5% of Tax Relief secured with a minimum fee of $30.00 and a maximum fee of $500.00 per final election 0.5 % of Tax Relief secured with a minimum fee of $30.00 and a maximum fee of $500.00 per final election plus a $25 surcharge $5.00 per completed transaction $2.00 for the proforma calculation transaction (threshold test) $27.00 per instruction $27.00 per adjustment $100.00 per adjustment $7,500.00 per year $15.00 per CUSIP/payable date inquiry $5,000.00 per year for unlimited interactive inquiries and unlimited number of users $5,000.00 minimum annual fee $150.00 per month for each account using the service $1.80 charge for each instruction to withhold at a specific rate $38.00 per post-payable adjustment $200.00 per form for preparation of Form 31
1042-s in cases where DTC prepares the form for other withholding agents for U.S. branches of foreign banks Web s Description LENS (Legal Notices system): A repository of notices published by third party public or private agents and agencies which report nonsettlement information about DTC-eligible securities. You can access the following types of notices: Corporate Status: The fate/status of corporations whose equities may be nontransferable or are no longer traded Legal Notices: Notices to security holders, bankruptcy filings, defaults, litigation, class action, and Letters of Credit substitution Tax Information: Notices pertaining to the taxable status of domestic equities Transfer Agent: Notices informing the industry about a corporation's decision to change its transfer agent. One of the following fees that apply to all the notice types: Accessing a notice: Unlimited viewing and/or downloading a notice during a single user s online session: $5.00 per notice Subscription: Unlimited viewing and/or downloading of notice(s) by one or more users: $1,100.00 per month per participant number E-mail a notice to one or more recipients: $5.00 per e-mail form Customer Training s Description Instructor-led training At customer site $750.00 per student, 2-student minimum, plus travel expenses Internet-based training $250.00 per student, 2-student minimum E-learning E-learning course $75.00 per course E-learning certification exam $400.00 per exam 32