FEES TUNISIE CLEARING

Transcription

1 FEES TUNISIE CLEARING UPDATED JANUARY 2, 2018

2 I - FEES BY SECURITIES TYPE COMMISSION S TYPE PRICE IN TND (TAX FREE) PAYER INVOICE DATE 1-Admission Entitlements 1-1 Equities 1-2 Debt Instruments other than Treasury Bonds 0,02% of the total nominal issue amount admitted By Tunisie Clearing with a maximum of 5000TND 0,01 % of the issue total amount admitted by Tunisie Clearing with a maximum of 2000TND 1 At admission 2 - Annual Fees 2-1 Equities For the total issue admitted to the operations of TUNISIE Clearing: 500 TND per tranche of one million dinars with a minimum of 5000 TND and a maximum of TND per, with the exception of issuers whose market capitalization is: - between 300MD and 500MD: TND per - more than 500MD: TND per, A complement on capital increase is charged in the same conditions -At admission 1 (during the first ) -Every January ( In case of a capital increase: starting from the settlement date 5000 TND per Commission non combined with treasury bonds annual fees Depending on securities number percentage held by book -keepers (500 TND by tranche of 1 million dinar With a minimum of 5000 TND/ and a maximum of TND per ), Bank book-keeper which securities are not admitted to TUNISIE Clearing and which do not hold treasury bonds whose securities are not listed on the electronic system of the BVMT - At participation agreement notification - Every January ( 2-2 Treasury Bonds For securities held: 500 TND per ten million dinars with a minimum of TND and a maximum of TND per 5000 TND per Banks owning treasury bonds Primary Dealer Every January - At participation agreement notification - Every January ( second ¹Other than Treasury 1 Except companies of alternative market where the prorata rule applies (on monthly basis).

3 2-3 Other Debt Instruments 0.01 % of the outstanding amount (*) of each tranche, identified by an ISIN code, and of each tradable debt instruments category including debt mutual funds with a minimum of 1000 TND/ and a maximum of 2000 TND/ * The outstanding is fixed on January 2 nd second 3 Annual Securities Accounts Entitlements (3) -At admission (during the first ) -Every January ( 3-1 Equities and Treasury Bonds 10 TND per account per At admission (during the first ) -Every January ( In April and December of each 3-2 Other Debt Instruments 100 TND per ISIN code per At admission (during the first ) -Every January ( 10 TND for each code and each In April and December of each 3 Except frozen / confiscated securities accounts.

4 4 - Commissions on Corporate Actions Corporate actions with cash and/or securities flows : 4-1 Equities 1. Cash flows : - 0.1% of the settled amount of corporate actions (dividend, capital redemption...) TND free of tax per tranche of 2 million dinars, with a minimum of TND and a maximum of TND for the settlement of capital increases through subscription via TUNISIE Clearing, 2. Securities flows : %of the nominal amount of the corporate action: (capital increase / decrease, split(4), exchange, merger, bonds conversion...) At each corporate action 4-2 Debt Instruments other than Treasury Bonds % of the amount settled with a maximum of 5000 DT for each tranche identified by an ISIN code; - For non public fixed income securities : 0,1 % of the interest amount settled per tranche and identified by an ISIN; 5 - Commissions on nominative files 5-1 File for the constitution of shareholders registers: equities (5) (mainlines) and debt instruments TND per investor line (identified by the account type and asset category besides the name) On the date of the register constitution 5-2 : File for the update of shareholders registers : equities (5) (mainlines) and debt instruments - For the First 1500 movements, TND - Starting from the 1,1501 st movement: TND with a minimum of 100 TND and a maximum of 3000 TND at the end of each 4 The basis of fee calculation is the total amount of capital admitted to Tunisie Clearing operations. 5 secondary lines are exempt except when the secondary line is a principal line. 5 the request to reset the shareholders' register for a value already admitted to the operations of TUNISIE CLEARING: the fee is set by Tunisie Clearing and with the prior agreement of the beneficiary

5 II - COMMON FEES 6 - Account Entries Adjustements orders : ajdustements orders: 1 TND(*) by group of adjustment orders: -Settlement date, -Broker, -Counterparty, -ISIN code, -Assets category, -Sense (delivered, deliverer) * Paid by the broker as well as the bank 6-2 Matching Instructions: 6-3 Intra FoP: 8 TND per entry and per 8 TND per entry + Primary Dealer Bank + Primary Dealer At the end of each quarter 6-4 Repo : 8 TND per entry and per 6-5 Operation with the Central Bank of TUNISIA : 8 TND per entry and per Bank 6-Other Entries 2,500 TND per entry and per 7 - Corrective Entries 7-1 Corrective entries during 3 days after the settlement date 5 TND per entry 7-2 Corrective entries beyond 3 days after the settlement date 50 TND per entry At the end of each quarter 6 Free Entries : on-exchange transactions, initial deposits, rights transfers, the CSD entries, entries and adjusting entries created following corporate actions & intraday repos and any movement related to frozen/confiscated account regardless of the operation type

6 8 - Fees for supply of documents/files, upon request, on paper or electronically 8-1 Fees for documents/ files supply, upon request, including invoices details Fees for documents supply, upon request, for auditors or in case of the failure of a participant s internet system for 10 working days at maximum 9-1 Adjustements orders issued after deadlines 9-2 File for the constitution of shareholders registers and File for the update of shareholders registers issued after deadlines 9-3 File for the constitution of shareholders registers and File for the update of shareholders registers rejected and regularized after deadlines 9-4 Other movements transmitted after deadlines Paper document : 25 TND minimum If more than 25 pages = 1 TND per page Electronic file or support : 25 TND minimum, If more than 1000Ko : 5 TND for each additional Tranche of 500Ko On the Members area: the current month and the last day of the previous one : free Free 9 - Operations files issued after deadlines 8 25 TND : by ajdustements orders grouping* regularized on the same day 25 TND : per day of delay and per adjustements orders grouping Adjustements orders grouping*: - Settlement date, -Broker, -Counterparty, -ISIN code, -Assets category, -Sense (delivered, deliverer) The commission involves the administrator approved intermediary, whether the bank or the broker. 25 TND per security (ISIN code), and per day of delay 10 TND per day and per security 25 TND per entry and per day of delay intermediary Per request At each operation At the end of each quarter At the end of each quarter At each operation 7 The fee is fixed by Tunisie Clearing and with a prior agreement of the beneficiary for the requests for development 8 Deadlines are set by notice of Tunisie Clearing

7 10 - Default in Securities Provision: 10-1 Provision default on intraday-repos 50 TND per entry Bank 50 TND : by adjustements orders grouping* regularized the same day Provision default on adjustements orders 50 TND per pending day and per adjustements orders grouping*. Adjustements orders grouping*: - Settlement date, -Broker, -Counterparty, -ISIN code, -Assets category, -Sense (delivered, deliverer) At each operation 10-3 Other provision defaults 50 TND - By regularized or rejected movement by the settlement system in the same day - Per fail day and per movement. COMMISSION S TYPE PRICE IN TND (TAX FREE) PAYER INVOICE DATE 11-1 Members Area Access 11 - Members Area Access Free for the first four accounts 100 DT per account from the fifth account COMMISSION S TYPE PRICE IN TND (TAX FREE) BENEFICIARY 12-1 File for the constitution of shareholders registers & File for the update of shareholders registers 12-2 File for the constitution of shareholders registers and File for the update of shareholders registers issued after deadlines 12 - Retrocession 80% of the amount of the sending commission of File for the constitution of shareholders registers & File for the update of shareholders registers 80% of the commission amount mandated Approved / issuer - On the January 2 nd of each - Residual at the end of each DATE OF RETROCESSION After collection of invoice from issuers After collection of invoice from Administrator Approved Broker