Costs related to Equity Trading

Transcription

1 Costs related to Equity Trading 1. Overview of costs When you buy or sell shares you pay a fee to DNB. The fee is a transaction cost paid when the trade is settled. 1.1 Brokerage fee for Norwegian Shares (all shares trading on Oslo Stock Exchange and unlisted Norwegian equities) Standard Online Active customer* Via broker Exchange traded equity-instruments 0,05% min NOK 95 0,05% min k NOK 65 0,50% min NOK 500 Exchange traded subscription rights 0,05% min NOK 50 0,05% min NOK 50 0,50% min NOK 50 Unlisted shares 0,30% min NOK 300 0,30% min NOK 300 0,50% min NOK *More than 20 trades 1 per calendar month gives this lower minimum fee the following calendar month. 1 All online trades, including international equities and unlisted equities. 1.2 Brokerage fee for international equities Standard Online Active customer* Via broker Sweden 2 0,10% min SEK 135 0,10% min SEK 95 0,50% min SEK Denmark 0,10% min DKK 110 0,10% min DKK 75 0,50% min DKK 900 Finland 0,10% min EUR 15 0,10% min EUR 10 0,50% min EUR 120 USA (NYSE, AMEX, NASDAQ) 0,20% min USD 30 0,10% min USD 20 0,50% min USD 160 Canada 0,20% min CAD 30 0,10% min CAD 25 0,50% min CAD 160 Belgium, France 3, Germany, Italy 4, Netherlands 0,20% min EUR 30 0,10% min EUR 20 0,50% min EUR 120 UK 5 0,20% min GBP 20 0,10% min GBP 18 0,50% min GBP 100 Spain 0,30% min EUR 30 0,20% min EUR 20 0,50% min EUR 120 Switzerland 0,30% min CHF 50 0,20% min CHF 30 0,50% min CHF 180 * More than 20 trades 1 per calendar month gives this lower minimum fee the following calendar month. 1 All online trades, including international equities and unlisted equities. 2 Shares on First North, AktieTorget & NGM cannot be traded online. Orders on these market places must med made via broker. 3 When buying (not selling) any equity securities issued by any of the companies listed here the customer will have to pay, in addition to the fee, an extra transaction tax («French Financial Transaction Tax») of 0,2 % of the transaction amount. This tax is due upon acquisition of equities securities in certain French-listed companies with a market capitalization in excess of EUR 1 bn per Link:

2 4 When buying (not selling) any equity securities issued by Italian companies with a market capitalization in excess of EUR 500 million the customer will have pay, in addition to the fee, an extra transaction tax («Italian Financial Transaction Tax») of 0,12 % of the transaction amount. 5 When buying (not selling) shares listed on the London Stock Exchange the customer will have to pay, in addition to the fee, an extra Stamp Duty of 0,5 % of the transaction amount. For Irish registered shares the Stamp Duty is 1,0 %. 1.3 Brokerage fee for monthly Shares Saving In this arrangement you may save minimum NOK and maximum NOK per month per agreement. If you wish to save more you may set up several agreements under the same arrangement. The monthly fees (including ) are 20 NOK per agreement. The fees cover administration costs for your agreement and is additional to the saving amount In addition there is an extra margin of 10 % of the selected saving amount. This margin guarantees delivery of securities even with price fluctuations in volatile markets The maximum amount that may be debited your account per month is the chosen saving amount plus the extra margin and monthly fees. However, the actually saved amount is often lower since it only is possible to save in a whole number of shares.

3 2. Examples of total costs for a trade In the examples below the total costs for a trade in Equities is calculated as the sum of the fee paid initially when buying the shares and finally when selling the shares. This cost is even calculated as a percentage of the amount purchased/sold (for simplicity it is assumed that the amounts purchased and sold are the same). The examples are based on standard fees and given examples for amounts. 2.1 Norwegian shares Exchange listed shares and equity certificates Online trading Assumed trade amount Brokerage fee 0.05 % NOK 95 NOK % NOK 100, % NOK 95 NOK % 0.05 % NOK 95 NOK % 0.05 % NOK 95 NOK 2, % *The sum of the fee for both purchase and sale of the instruments Trading via broker 0.50 % NOK 500 NOK 1, % 0.50 % NOK 500 NOK 1, % 0.50 % NOK 500 NOK 5, % NOK 500 NOK 20,000 * The sum of the fee for both purchase and sale of the instruments

4 2.1.2 Exchange listed subscription rights Online trading 0.05 % NOK 50 NOK % NOK 50 NOK % NOK 50 NOK % 0.05 % NOK 50 NOK 2, % * The sum of the fee for both purchase and sale of the instruments Trading via broker 0.50 % NOK 50 NOK % NOK 50 NOK % NOK 50 NOK 5, % NOK 50 NOK 20,000 * The sum of the fee for both purchase and sale of the instruments

5 2.1.3 Unlisted Norwegian equities Online trading 0.30 % NOK 300 NOK % 0.30 % NOK 300 NOK % 0.30 % NOK 300 NOK 3, % 0.30 % NOK 300 NOK 12, % * The sum of the fee for both purchase and sale of the instruments Trading via broker 0.50 % NOK 1,000 NOK 2, % 0.50 % NOK 1,000 NOK 2, % 0.50 % NOK 1,000 NOK 5, % NOK 1,000 NOK 20,000 * The sum of the fee for both purchase and sale of the instruments

6 2.2 International Equities Online Equity Trading Sweden Denmark Finland Country USA (NYSE, AMEX, NASDAQ) Canada Belgium, Germany, Netherlands France (1) Italy (2) UK (3) Spain Switzerland Assumed trade amount Brokerage fee Minimum (purchase) Local tax as % Local tax as of trade amount amount Total cost as amount* Total cost as % of trade amount SEK 10, % SEK 135 % N/A N/A SEK % SEK 250, % SEK 135 N/A N/A SEK 500 DKK 10, % DKK 110 N/A N/A DKK % DKK 250, % DKK 110 N/A N/A DKK % 15 N/A N/A % 25, % 15 N/A N/A 50 USD 1,000 USD 30 N/A N/A USD % USD 25,000 USD 30 N/A N/A USD % CAD 1,000 CAD 30 N/A N/A CAD % CAD 25,000 CAD 30 N/A N/A CAD % 30 N/A N/A % 25, N/A N/A % 25, % % % 25, % % GBP 1,000 GBP % GBP 5 GBP % GBP 25,000 GBP % GBP 125 GBP % 0.30 % 30 N/A N/A % 25, % 30 N/A N/A % fr. 1, % fr. 50 N/A N/A fr % fr. 25, % fr. 50 N/A N/A fr % *The sum of the fee for both purchase and sale 1 When buying (not selling) any equity securities issued by any of the companies listed here the customer will have to pay, in addition to the fee, an extra transaction tax («French Financial Transaction Tax») of 0,2 % of the transaction amount. This tax is due upon acquisition of equities securities in certain French-listed companies with a market capitalization in excess of EUR 1 bn per Link: 2 When buying (not selling) any equity securities issued by Italian companies with a market capitalization in excess of EUR 500 million the customer will have pay, in addition to the fee, an extra transaction tax («Italian Financial Transactio n Tax») of 0,12 % of the transaction amount. 3 When buying (not selling) shares listed on the London Stock Exchange the customer will have to pay, in addition to the fee, an extra Stamp Duty of 0,5 % of the transaction amount. For Irish registered shares the Stamp Duty is 1,0 %.

7 Equity trading via broker Sweden Denmark Finland USA Country (NYSE, AMEX, NASDAQ) Canada Belgium, Germany, Nederland France (1) Italy (2) UK (3) Spain Switzerland Assumed trade amount Brokerage fee Minimum (purchase) Local tax as % Local tax as of trade amount amount Total cost as amount* Total cost as % of trade amount SEK 100, % SEK 1,100 % N/A N/A SEK 2, % SEK 500, % SEK 1,100 N/A N/A SEK 5,000 DKK 100, % DKK 900 N/A N/A DKK 1, % DKK 500, % DKK 900 N/A N/A DKK 5,000 N/A N/A % N/A N/A 500 USD 10, % USD 160 N/A N/A USD % USD 50, % USD 160 N/A N/A USD 500 CAD 10, % CAD 160 N/A N/A CAD % CAD 50, % CAD 160 N/A N/A CAD 500 N/A N/A % N/A N/A % % 0.12 % % 0.12 % % GBP 10, % GBP % GBP 50 GBP % GBP 50, % GBP % GBP 250 GBP % N/A N/A % N/A N/A 500 fr. 10, % fr. 180 N/A N/A fr % fr. 50, % fr. 180 N/A N/A fr. 500 * The sum of the fee for both purchase and sale 1 When buying (not selling) any equity securities issued by any of the companies listed here the customer will have to pay, in addition to the fee, an extra transaction tax («French Financial Transaction Tax») of 0,2 % of the transaction amount. This tax is due upon acquisition of equities securities in certain French-listed companies with a market capitalization in excess of EUR 1 bn per Link: 2 When buying (not selling) any equity securities issued by Italian companies with a market capitalization in excess of EUR 500 million the customer will have pay, in addition to the fee, an extra transaction tax («Italian Financial Transactio n Tax») of 0,12 % of the transaction amount. 3 When buying (not selling) shares listed on the London Stock Exchange the customer will have to pay, in addition to the fee, an extra Stamp Duty of 0,5 % of the transaction amount. For Irish registered shares the Stamp Duty is 1,0 %.

8 3. Examples of the effect costs have on the return on the investment The examples below illustrate how the cost affects the return on the investment. We have based our calculations on standard fees, given amounts and an annual return of 8 % (about the average historical return on Oslo Stock Exchange main index the last 20 years, ). Examples based on historical return may not be correct for your investment, for which the return may be either lower or higher than the given example. Returns may even be negative and you might lose your investment. Online trading Scenario if you sell after X years: Investment of NOK Total costs NOK 190 NOK 190 NOK 203 Average return per year 8 % 8 % 8 % Percentage effect on return -0,18 % -0,13 % -0,09 % Return after costs NOK NOK NOK Trading via broker Scenario if you sell after X years: Investment of NOK Total costs NOK NOK NOK Average return per year 8 % 8 % 8 % Percentage effect on return -0,96 % -0,84 % -0,73 % Return after costs NOK NOK NOK Monthly shares saving Monthly fees (including ) of 20 NOK per agreement. Scenario if you sell after X years: NOK per month, total: NOK NOK NOK Total costs NOK 240 NOK NOK Average return per year 8 % 8 % 8 % Percentage effect on return -0,40 % -0,40 % -0,40 % Return after costs NOK NOK NOK