|Fee Type*||Fee Detail||Fee excluding VAT||VAT**|
|Custody Account Fee||Custody Account House/Client||30 EUR/Month/Custody Accoun||X|
|Custody Account Segregated Client||30 EUR/Month/Custody Account||X|
|CSD/ICSD Segregation Fee||CSD/ICSD Segregation||150 EUR/Month/Account||X|
|CSD/ICSD Segregation in beneficial owner account||150 EUR/Month/Account||X|
|Safekeeping Fee||Securities||For Initial Margin, 10 bp annualized on market value||X|
|For any amount exceeding the requirement of Initial Margin, 0 bp 1-2|
|Corporate Action||Voluntary Corporate Action||TBD||X|
|Securities Transaction Fee||Deposit||Free|
|Call Back||25 EUR/Transaction|
|Cash Transaction Fee||Deposit||Free|
|Call Back||25 EUR/Transaction|
|Premium Subscription Fee||Daily statements:||50 EUR/Month/Custody Account||X|
|MT535 Statement of Holdings|
|MT536 Statement of Transactions|
|MT940 Customer Statement|
|CMS Web License Fee||50 EUR/Month/User||X|
|MQ Connection||Contact Nasdaq||X|
*Fee types, levels and VAT herein may be subject to change.
**Fees subject to VAT according to COUNCIL DIRECTIVE 2006/112/EC of 28 November 2006.
Custody Account Fee
All collateral posted by the Participant is registered/reflected on Custody Accounts in Nasdaq system. A Participant will typically hold one Custody Account for house business and one Custody Account for client business. In addition separate Custody Accounts per segregated clients are supported.
A fixed fee in EUR per month and per Custody Account is charged.
CSD/ICSD Segregation Fee
A Participant can request its securities collateral to be segregated at the CSD/ISCD. In this case Nasdaq will hold the securities on an individual securities account on behalf of client in the CSD/ICSD. Segregation on beneficial owner accounts is supported where regulations requires.
Securities Safekeeping Fee
Nasdaq applies a safekeeping fee for securities calculated in basis points annualized on market value. The fee is charged on a monthly basis based on the pledged securities monthly average market value per Custody Account. The fee is calculated using Actual/360–day convention.
On a daily basis, the securities market value is calculated per holding on the Custody Account in the securities denominated currency. The amounts are then converted to EUR using the exchange rates for that day. At the end of the month the amounts are aggregated to obtain the average value per Custody Account.
Based on the average market value and the Actual/360–day convention the safekeeping fee is calculated.
1 0 bp for Securities held by clients active in IRS OTC Clearing
2 0 bp for Securities held in Intraday Funding Collateral Account
Voluntary Corporate Actions
An administrative fee for voluntary corporate action will be charged.
Securities Transaction Fee (Instrument Call Back)
Deposit of securities is free of charge. Instrument call back of securities is associated with an administration fee.
Cash Call Back Transaction Fee
Deposit of cash is free of charge. In case excess cash is called back an administration fee is charged.
A subscription service is offered where the Participant can subscribe to Statement of Holdings, Statement of Transactions, Customer Statement Message, Fee instruction. The service is offered free of charge for monthly statements. The subscription is requested through completing the Member preferences – Fees and Subscriptions form (see Appendix 4) and returning this to Nasdaq.
The subscription includes monthly statements (distributed on the last business day of the month)
- MT535 Statement of Holdings (SWIFTNet or email/PDF) - holdings last day of month
- MT536 Statement of Transactions (SWIFTNet) – transactions during the month
- MT940 Customer Statement Message (SWIFTNet or email/PDF) - transactions during the month including opening balance and closing balance.
- Fee instruction (Email/PDF)
Participants that prefer daily statement can sign up to the premium subscription service through completing the Member preferences – Fees and Subscriptions form and returning this to Nasdaq. The premium subscription service is associated with a monthly fee per Custody Account and includes statements of the following:
- MT535 Statement of Holdings (SWIFTNet or email/PDF)
- MT536 Statement of Transactions (SWIFTNet)
- MT940 Customer Statement Message (SWIFTNet or email/PDF)
In addition to ISO statements the above information can be viewed on a daily basis in the CMS web application.
CMS Web License Fee
The CMS Web application is used for administration of collateral to cover margin requirements and contributions to the default fund. A fee is charged per each user (admin and regular user). A participant needs at least one admin user.
Participants are offered the possibility to connect to the Custody System through MQ. For more information, please contact Nasdaq.