FUNCTIONING RULE N 1/2014 FEES

Transcription

1 FUNCTIONING RULE N 1/2014 FEES Supersedes the Functioning Rule N 1/2013 Of 02/01/2013

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 nominal issue amount admitted by Tunisie Clearing with a maximum of TND 0,01 % of the issue total amount admitted by Tunisie Clearing with a maximum of TND (1) At admission 2-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 - At admission (2) - Every January 2-1: Equities : A complement on capital increase is charged in the same conditions In case of a capital increase : starting from the settlement date 2-2 : Treasury Bonds TND per Commission non combined with treasury bonds annual fees TND per Bank book-keeper which securities are not admitted to Tunisie Clearing and which do not hold treasury bonds. Banks holding treasury bonds TND per Primary Dealer (1) Other than Treasury (2) Except the alternative market companies which invoicing complies with the proportional rule (monthly basis) - At participation agreement notification - Every January Every January -At participation agreement notification - Every January Functioning Rule n 1/2014 related to fees 2

3 2-3 : Other Debt Instruments 0.01 % of the outstanding amount (*) of each tranche, identified by an ISIN code, and of the debt instruments category including debt mutual funds with a minimum of 1000 TND/ and a maximum of TND/ (*) The outstanding is fixed to January 2 nd since the second - At admission -Every January 3 - Annual Securities Accounts Entitlements (3) - At admission and in December 3-1 : Equities and Treasury Bonds : 10 TND per account per -Every January and December (since the second In April and December of each 3-2 : Other Debt Instruments : 100 TND per ISIN code per - At admission Every January 10 TND for each code and each In April and December of each (3) Except frozen / confiscated securities accounts. Functioning Rule n 1/2014 related to fees 3

4 4-1 : Equities : 4 - Commissions on Corporate Actions Corporate actions with cash and/or securities : 1. Cash flows : - 0.1% of the settled amount of corporate actions (dividend, capital redemption ) TND 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, except the settlement of subscription public offers 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 : 0,1 % of the interest amount settled by Tunisie Clearing 5 - Commissions on nominative files (5) 5-1 : File for the constitution of shareholders registers : equities (6) (mainlines) and debt instruments TND per investor line (identified by the account type and asset category further the name) On the date of the register constitution 5-2 : File for the update of shareholders registers equities (6) (mainlines) and debt instruments - First 1500 movements TND - Since the 1,501 th 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) The invoicing of this service takes effect on April, 1 st (6) secondary lines are exempt except when the secondary line is a principal line. Functioning Rule n 1/2014 related to fees 4

5 II - COMMON FEES 6 Accounts Entries (7) 6-1 : Contract notes : Contract note : 1 TND (*) by contract notes grouping by : - Countable date, - Broker, - Counterparty, - ISIN code, - Assets category, - Sense (delivered, deliverer). (*) Paid by the broker as well as the bank Approved Broker 6-2 : Matching Instructions : 8 TND per entry and per Book-keeper 6-3 : Intra transfers 8 TND per entry Approved Broker + Primary Dealer Bank Book-keeper + Primary Dealer At the end of each 6-4 : Operation with the Central Bank of Tunisia 4 TND per entry and per book keeper Bank Book-keeper 6-5 : Other Entries: 2,5 TND per entry and per book keeper Book-keeper 7- Adjusting Entries 7-1 : Adjusting entries during 3 days after the settlement date : 7-2 : Adjusting entries beyond 3 days after the settlment date: 5 TND per entry Book-keeper 50 TND per entry Book-keeper At the end of each (7) 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. Functioning Rule n 1/2014 related to fees 5

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 : Paper document : 25 TND minimum If more than 25 pages = 1 TND per page Electronic file : 25 TND minimum, If more than 1000Ko : 5 TND for each additional tranche of 500Ko On the Members area : the outstanding month and the last day of the previous one : free Book-keeper At each request 8-2 : 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 : Free 9 - Operations files issued after deadlines (8) : 25 TND : per contract notes grouping* adjusted the same day 25 TND : per delay day and per contract notes grouping* Contract notes grouping* 9-1 : Contract notes issued after deadlines : - Countable date, - Broker, - Counterparty, - ISIN code, - Assets category, - Sense (delivered, deliverer). At each operation 9-2 : File for the constitution of shareholders registers and File for the update of shareholders registers issued after deadlines (9) : 9-3 : File for the constitution of shareholders registers and File for the update of shareholders registers rejected and regularized after deadlines (9) : 9-4 : Other movements transmitted after deadlines The commission involves the administrator approved broker, whether the bank or the broker 25 TND per security (ISIN code), and per day of delay 10 TND per day and per security at the end of each at the end of each 25 TND per entry and per delay day Book-keeper At each operation (8) Deadlines are set by notice of Tunisie Clearing (9) The invoicing of these commissions takes effect on April, 1 st 2013 Functioning Rule n 1/2014 related to fees 6

7 10 - Default in Securities Provision : 10-1 : Provision default on intraday-repos : 5 TND per entry Bank 50 TND per contract notes grouping adjusted the same day. 50 TND per pending day per contract notes grouping* : Provision default on contract notes : (*) Contract notes grouping by: - - Countable date, - Broker, - Counterparty, - ISIN code, - Asset category, - Sense (delivered, deliverer). At each operation 10-3 : Other provision defaults : 50 TND - Per movement adjusted or rejected by the settlement system suring the same day Book-keeper - Per fail day and per movement. COMMISSION S TYPE PRICE IN TND (TAX FREE) BENEFICIARY 11-1 : File for the constitution of shareholders registers and File for the update of shareholders registers 11-2 : File for the constitution of shareholders registers and File for the update of shareholders registers issued after deadlines or rejected and regularized after deadlines 11- Retrocession 80% of the commissions amount on sending of files for shareholders registers constitution and updating 80% of the commission amount Mandate approved intermediary / DATE OF RETROCESSION After recovery of bills from issuers After recovery of bills from Functioning Rule n 1/2014 related to fees 7