|Fee Type*||Fee Detail||Fee excluding VAT||VAT**|
|Safekeeping Fee||Safekeeping Fee||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|
|Security Collateral Fee Nasdaq Derivatives Markets||Securities||Tiered model, see separate section below|
|For any amount exceeding the total margin requirement, 0 bp1,2|
|Security Collateral Fee Nasdaq Commodities Market||Securities||Up to the total margin requirement, 10 bp annualized on market value|
|For any amount exceeding the total margin requirement, 0 bp|
|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.
All collateral posted by the Account Holder is registered/reflected on Custody Accounts in Nasdaq’s system. An Account Holder 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 safekeeping fee in EUR per month and per Custody Account is charged.
CSD/ICSD Segregation Fee
An Account Holder 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.
Security collateral fee
Nasdaq Derivatives Markets
Nasdaq applies a security collateral fee for securities calculated in basis points annualized on market value. The fee level depends on the proportion of cash and securities on the Custody Account, and the total market value of the securities collateral that is used to cover the total margin requirement. Actual fee levels can be found in the table below. The fee is charged on a monthly basis by aggregation of the daily fee calculation based on end of day security market value on the Custody Account, excluding any excess collateral. The fee is calculated using Actual/360–day convention.
|End of day market value of the securities collateral in the custody account. Fee will be charged for all applicable tiers.||Security collateral fee for custody accounts where cash collateral constitutes 35% or more of the total collateral value used to cover total margin requirement||Security collateral fee for custody accounts where cash collateral constitutes less than 35% of the total collateral value used to cover total margin requirement|
|> EUR 350 million||9 bps||11 bps|
|EUR 150 – 350 million||10 bps||12 bps|
|< EUR 150 million||11 bps||13 bps|
On a daily basis, the total collateral market value is calculated per holding on the Custody Account in the collateral denominated currency. The amounts are then converted to EUR using the exchange rates for that day.
1 0 bp for Securities held by Clients active in IRS OTC Clearing
2 0 bp for Securities held in Intraday Funding Collateral Account
Nasdaq applies a security collateral fee for securities calculated in basis points annualized on market value. The fee is charged per Custody Account on a monthly basis based on the pledged securities daily market value that is used to cover the total margin requirement. 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 fee amount are then converted to EUR using the exchange rates for that day. At the end of the month the fees are aggregated to obtain the monthly fee per Custody Account.
No tiers or other rebates are applicable for the securities collateral fee on Nasdaq Commodities.
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 Account Holder 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)
Account Holders 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). An Account Holder needs at least one admin user.
Account Holders are offered the possibility to connect to the Custody System through MQ. For more information, please contact Nasdaq.