Rate Rate type Brokerage calculation methodology < 2.5 years to maturity

Transcription

1 Commissions & charges for On-Venue Clients (Executing through GFI Securities Ltd and GFI Brokers Ltd) Effective st November 8 MiFID II Costs Disclosure This section provides information about all costs and associated charges for trades executed within the GFI MiFID regulated Organised Trading Facility venue. ORGANISED TRADING FACILITY Rate Schedule - BONDS Structure Tenor <. years to maturity 0 Outrights >. years < years to maturity > years to maturity GBP Real Yield Spreads <. years to maturity on client buys GBP Real Yield Spreads >. years to maturity UKTI vs UKTI. Rate charged on client buys GBP per million GBP GBP Breakevens <. years to maturity on index linked leg traded GBP Real Yield Fly UKTI vs UKTI vs UKTI. Rate charged on the body GBP Box Breakeven UKTI vs UKT vs UKTI vs UKT. Rate charged on UKTI (index linked) client buy of the box Rate charged on the on the UKTI (index linked) leg of GBP Breakevens Fly the body Discount Structure Above 90,000 per month combined brokerage between and GBP Inflation Swaps a 0% discount will be applied to all EUR Inflation Linked Bonds < year EUR per million EUR and Charged on the buy leg > year traded UK Gilts Basis 0 Aggressor Only CLOB <yr >-<yr >-<yr yr+ Basis GBP per million traded Aggressor Rates. Passive participant pays 0% on spreads and switches. Spreads charged on the buy leg <yr. (including Open Market) >-<yr 0. Spreads charged on the buy leg yr+ Discount Structure Above 6,000 GBP per month passive rates will apply. High Yield. USD Supra, Sovereigns and Agency odd lots < year odd lots > year < million bonds odd lots > year > million bonds < million bonds odd lots > year > million bonds 0. Spread Session: Minimum size million Front End Session: <8maturity Emerging Market Eurobonds Execution Type Market Russian Sovereigns & Corporates or CLOB Emerging Market Eurobonds excluding Russia Russian Sovereigns & Corporates Emerging Market Eurobonds excluding Russia

2 Senior Financials <6 months to maturity > 6 months <8 months to maturity >8 months to maturity 0. Subordinated Debt. Investment Grade Euro Corporate Cash 0- months months - 0yr 0yr + Any bonds that trade cash 0- months months - 0yr 0yr +. Any bonds that trade cash. Hybrid Perps < years > years < years > years. Euro Supra, Sovereigns and Agency <6 months 0., and >6 months < years 0. >years 0. Sterling Supra, Sovereigns and Agency < year > years < years Aggressor Only >years < year 0. Pence on the notional > years < years >years.

3 European Government Bonds Germany, France, Holland, Belgium, Finland, Austria Execution Type Instrument Tenor Bonds < years 0. > years < 0 years 0. > 0 years < 0 years 0. Bills 0. in yield Strips Bonds 0. Bills 0. in yield Italy and Spain Execution Type Instrument Tenor Bonds < years 0. > years < 0 years 0. > 0 years < 0 years 0. Bills 0. in yield Strips Bonds 0. Bills 0. in yield Portugal and Ireland Execution Type Instrument Tenor Bonds < years 0. > - 0 years Bills 0. in yield Bonds 0. Bills 0. in yield Poland < years 0. > years 0. Hungary < years > years < years > years. Czech Republic < years > years. Romania < year > year < years > years. < years > years. Turkish Government Bonds < years 0 & Both sides pay. > years

4 Money Markets Execution Type Basis Points per annum Asset Backed Securities Execution Type Prime UK/Netherlands Autos/Credit Cards Italy France Australia Spain/Portugal Non-conforming/BTL mezzanine Bonds below cash price. Prime UK/Netherlands 0. Autos/Credit Cards 0. Italy. France Australia. Spain/Portugal. Non-conforming/BTL. mezzanine Bonds below cash price. 6. CLOs Execution Type Rating AAA AA A-B Equity. FRN Execution Type 0. New Issues (until secondary trading (T+) Structure Tenor Investment Grade Hybrid Perps Senior Financials Subordinated Debt other New Issues High Yield - Until first settlement date of the bond High Yield -. Both sides pay Sub Saharan Bonds Product Bonds

5 Change Tracker Outrights - change to tenors and rates. GBP Real Yield Spreads - tenor added Effective st Feb 8 Asset Backed Securities rates corrected for the following: mezzanine Bonds below cash price Effective st Feb 8 Turkish Government Bonds New Rates added Effective st Jun 8 UK Gilts Discount Structure added Above 6,000 GBP per month passive rates will apply. Effective st July 8 New Issues (until secondary trading (T+) High Yield & rates updated Effective st October 8 Discount structure added Above 90,000 per month combined brokerage between and GBP Inflation Swaps a 0% discount will be applied to all Outright, RY Spreads & Breakevens rate updated Effective st November 8 Illustrative Example Example based on trading a EUR Inflation bond under year with a total volume of Eur 00,000, Table shows how the total cost for this trade is calculated based on this volume. Volume Rate Cost EUR 00,000, EUR per million EUR transacted EUR,00.00 Total cost EUR,00.00 Summary of costs & charges based on a notional amount of EUR 00,000, Cost Category Cost Item Cost expressed Percentage Investment and/or ancillary Service costs ( costs and associated charges charged for the investment service(s) and/or ancillary services provided to the client) Third Party Payment received (Any payment we receive from a third party in relation to the provision of the investment service we provide our clients) Financial Instrument Costs ( costs and associated charges related to the manufacturing and managing of the financial instrument.) Total Cost Itemised breakdown by Charge Type for cost and charges incurred: Financial Instrument Investment Service Cost Costs Charge Type One-off charges ( costs and charges paid at the beginning or at the end of the provided investment service(s). Ongoing Charges ( on-going costs and charges paid for services provided.) Transaction Costs costs and charges that are related to transactions performed by the investment firm or other parties.) Cost expressed as Cash Amount Trade 0.00% EUR,00.00 Execution Fee n/a 0.00% EUR 0.00 n/a 0.00% EUR % EUR,00.00 Cost expressed as Percentage 0% EUR % EUR 0.00 Cost expressed as Cash Amount EUR, % EUR,00.00 Ancillary Service Cost (Any costs and charges that are related to ancillary services that are not included in the costs mentioned above) Incidental Costs (The incidental costs include performance fees) 0% 0% EUR 0.00 EUR 0.00 Total Cost EUR 0.00 EUR, % EUR,00.00 We may add VAT, sales taxes, duties, levies or similar charges to the rates set out above as required by law. payments should be made by wire transfer. Any payments made by cheque will be subject to an administrative charge. Save where agreed to by BGC in writing these rates do not apply to any division, business unit or entity which is acquired by the BGC Group after the date hereof.