Fees & Commissions
Russian Market
Current Tariffs
| Day WT Tariff Plan | Consulting WT Tariff Plan |
Archive Tariffs
| Tariff “Standard WT” | Remote WT Tariff Plan |
Regulations of CJSC Investment Company Finam ENG RUS
Forward Contracts Trading Regulations ENG RUS
Acquiring for MetaTrader accounts ENG RUS
Financial market analysis fees ENG RUS
Asset management US market fees ENG RUS
Expenses
paid by clients (hereinafter referred to as the "Clients")
who entered into a Brokerage Agreement with Finam Limited (hereinafter
referred to as the "Company") when executing transactions on the Russian
securities and futures markets
1. Commission fees paid by the Company to a Russian broker when executing transactions in the stock section of MICEX Stock Exchange and the stock section of RTS Stock Exchange
| Daily turnover on the Client’s account with the Company, RUR | Commission fees paid by the Company |
| below 1,000,000 | 0.033% |
| from 1,000,000 to 5,000,000 | 0.030% |
| from 5,000,000 to 10,000,000 | 0.026% |
| from 10,000,000 to 20,000,000 | 0.020% |
| from 20,000,000 to 50,000,000 | 0.013% |
| from 50,000,000 to 100,000,000 | 0.008% |
| over 100,000,000 | 0.007% |
Broker’s commission fee for execution (partial execution) of one Client’s order on the Russian securities market shall be no less than 41.30 RUR (including VAT 18%) (will be applied as from 15/04/2009).
2. Commission fees paid by the Company to a Russian broker when executing transactions in the futures section of RTS Stock Exchange (FORTS)
| Service | Commission fees paid by the Company |
|---|---|
| To conclude a futures and options contract when the Company executes an Order for a futures contract, placed using the software product QUIK-Broker | RUR 0.450 per each contract |
| To conclude a futures and options contract when the Company executes an Order for a futures contract, placed otherwise, | 0.0354% of contract value |
| mandatory closure of positions opened due to the absence on the Client’s account with the Company of relevant assets for execution of a delivery futures contract | |
| To arrange execution of a futures contract | 100% charges for execution arrangement, as approved by RTS |
| To maintain a register to keep records of the Client’s positions in the futures section of RTS Stock Exchange, if any transactions are executed within this register | RUR 120.00 |
3. Other types of deals and transactions
For transactions executed Broker on behalf of a client in OTC market, provided that Joint-Stock Company Finam is the Registrar of securities in these transactions, the Client pays his expenses in the amount of 0,118% of transaction amount, minimum - 1180 rubles.
In some cases, the amount of Broker’s commission can be determined by further agreement between the Broker and Client.
Unless otherwise provided by the addendums of the Parties, the Client agrees to compensate the Broker for the amount of exchange, depositary charges, as well as the amounts of other fees and necessary expenses, in addition to the above mentioned, related to the execution of Client’s orders under the Regulations, except the expenses of banking Broker’s accounts services. Under the necessary expenses, recovered by the Client mean taxes and tariffs charged from the Company by third parties in connection with transactions by and for the benefit of the Client under the Regulations.
Client's obligation to Broker for payment of fees unfulfilled in time due to lack of funds, as well as other required fees specified in this Addendum, other applications and / or in the text of the Regulations, will be automatically stopped by the replacement (innovation) into the obligation under the loan agreement provided by the Broker.
3.1. Execution of Client’s Order (request) for the purchase of securities during their public primary distribution and transactions committed under terms of Trade Agreement of non-commercial partnership "Stock exchange" Russian Trading System”
| Operation | Fee amount paid by the Company |
| Purchase of securities during their public primary distribution directly, with underwriter or co-underwriter | 0,236% of transaction amount |
| Making a transaction under terms of Trade Agreement of non-commercial partnership "Stock Exchange Russian Trading System" | 0,118% of transaction amount but not less than 1 180 RUR. |
| Making a deal, under which payment for the securities, or re-registration of ownership for securities is made not later than the day following the day of transaction, under terms of Trade Agreement of non-commercial partnership "Stock Exchange Russian Trading System" | 0,145% of transaction amount but not less than 1 450 RUR. |
3.2. OTC options
| Service | Commission fees paid by the Company |
|---|---|
| Purchase of an OTC options contract | 0.118% of the option premium amount |
3.3. The use of funds provided in the loan and execution of Client’s Orders for alienation of securities, contained the reference to the margin / unsecured transaction
3.3.1. Provision for loan funds in the absence of the client account cash to be paid as a reward a broker or other required payments
| Basis for calculation | rate |
| Client’s debt amount for the moment of completion of calculation according to the results of the day | 14% per annum |
Client’s debt amount can be increased by the amount of obligations under the second transaction (part) of the repo. The amount of the abovementioned interests for the holidays and days-off is deducted by the Broker in the aforegoing working day.
The size of interest for each day of use is equal to the product of 1 / 365 by difference between the interest rate specified above, and the refinancing rate of Central Bank of Russia, in case the CBR refinancing rate is less than the interest rate specified in the table. The rate is specified including VAT.
3.3.2. Execution of Client’s Orders for alienation of securities, contained the reference to the margin / unsecured transaction
| Basis for calculation | rate |
| Cost of securities provided to the client to commit margin / unsecured transaction is defined each calendar day | 10% per annum |
* When calculating the value of the securities provided to the Customer to commit margin / unsecured transaction, is used the price of the best application for the moment of trades closing of OJSC "RTS" or CJSC "MICEX". In case of absence of bids for the sale, securities are not revalued. If there are prices of the security in both trading systems, Broker for the purposes of assessment can select the trading system at its own discretion.
3.4. To withdraw the Client’s cash derived from one-time sale of securities owned by the Client
A one-time sale shall be understood as the sale of securities held by the Client when:
the aggregate turnover of purchase/sale transactions executed at the Client’s account with the Company for the period from the date of initial placement of the securities on the Account until the date of cash withdrawal does not exceed 200% of the value of the securities recorded on the Account not as a result of a transaction(s) executed by the Broker based on the Client’s order placed by the Company, and also excluding sales of the above securities.
net position changes as a result of a transactions executed by the Broker at the Client’s order with any securities at the end of a day (from the moment of initial placement of securities on the Client’s account with the Company until cash is withdrawn) amount to less than 25% (in terms of value) of all securities, recorded on the Client’s account.
| Amount derived from one-time sale excl. sales-related expenses | 2% |
4. Exchange and other fees paid by the Company
| Operation | Fee amount paid by the Company |
|---|---|
| To execute transactions in the stock section of MICEX Stock Exchange: - stocks - bonds |
0.01% of transaction price 0.01% of transaction price |
| To execute transactions in the stock section of RTS Stock Exchange: - stocks - bonds |
Exchange fee: 0.003% of transaction price clearing fees: 0.0020% of transaction price 0.0075% of transaction price |
| To open a register to keep records of the Client’s positions in the futures section of RTS Stock Exchange | RUR 120.00 |
| PocketQUIK: - presentation of the software product - subscription |
RUR 3,450.00 RUR 685.00 per month |
| WebQUIK: - presentation of the software product - subscription | free RUR 350.00 per month |
5. Depositary fees (services provided by a Russian depositary) paid by the Company
| # | Service | Fee |
| 1. Maintenance of custody accounts | ||
| 1.1. | Custody account maintenance fee[1] | RUR 354.00 per month |
| 1.2. | If there is no operation recorded on a custody account | free of charge |
| 2. Fee for keeping records of securities that do not require storage of documentary securities* | ||
| 2.1. | To accept securities for records | free of charge |
| 2.2. | If there are more than 5 orders per one issue of an issuer within a calendar month | RUR 35.40 per each additional order, except initial deposit of securities with the depositary |
| 2.3. | If an order is placed later than 25 calendar days from the re-registration of securities in a shareholder register | RUR 177.00 per each order |
| 2.4. | To remove securities from records (except redemption) [2] | RUR 708.00* |
| 2.5. | To transfer securities to a new place of storage | RUR 70.80* |
| 2.6. | To perform an inter-depositary transfer of securities within custody accounts[3] | RUR 177.00 (equally from each depositor, unless otherwise is provided for by the agreement signed among depositors, in accordance with which securities are transferred) |
| 2.7. | To pledge/mortgage securities | RUR 531 per each order |
| 3. Fee for keeping records of securities that require storage of documentary securities in a depositary** | ||
| 3.1. | To accept securities for record-keeping and storage | RUR 35.40* |
| 3.2. | To remove securities from record-keeping and storage | RUR 708.00* |
| 3.3. | To perform an inter-depositary transfer of securities within custody accounts | RUR 177.00 (equally from each depositor, unless otherwise is provided for by the agreement signed among depositors, in accordance with which securities are transferred) |
| 3.4. | Pledge/mortgage of securities | RUR 531.00 per each order (chargeable from the pledgee) * |
| 3.5. | Fee for securities storage | |
| open storage | 0.059% of par value* | |
| closed storage | 0.236% of par value* | |
| 4. Servicing of securities, whose trading organizer is RTS (settlement depositary of Depositary Clearing Company) | ||
| 4.1. | To place/remove securities from/to inter-depositary accounts held with external depositaries under operations related to the execution of Sale/Purchase agreements concluded under the terms of the Trading Agreement of non-commercial partnership Russian Trading System Stock Exchange | RUR 88.50* |
| 5. Other operations | ||
| 5.1. | To cancel an order | Rub 35.40 per each order |
| 5.2. | To issue an account statement at the request of a client | RUR 35.40 |
| 5.3. | Representative of the Depositor at the general shareholder meeting | RUR 8,850 plus overheads |
| when a meeting is held outside of Moscow | ||
| 5.4. | To obtain information from an issuer at the Company’s request made in order to execute the Client’s order | RUR 885.00* |
| 5.5. | To re-register securities[4] | RUR 708.00* |
| 5.6. | To receive, calculate and transfer income: paid on shares | 1.18% of transfer amount plus overheads |
| paid on bonds (except redemption) | 0.236% of amount paid plus overheads | |
| 5.7. | To send out corporate information (with regard to the issuers of securities which make up the Client’s portfolio)[5] | |
| By email | RUR 177.00/month (no more than 10 issuers) RUR 354.00/month (10+ issuers) |
|
| By facsimile | RUR 885.00/month (no more than 10 issuers) RUR 1,062.00/month (10+ issuers) |
|
When storing securities with a depositary or a registrar chosen by the Client under the direct order of the Client, the Company’s expenses are compensated in accordance with the tariffs of such depositary.
[1] The custody account maintenance fee is calculated by the depositary in full for the entire reporting period regardless of the number of operations carried out on a custody account and also the number of days in the reporting period, during which a custody account was in use.
[2] The cost of services provided in accordance with Clause 2.4. and Clause 2.5 is calculated by the depositary in accordance with the tariffs offered by external registrars and depositaries. When receiving bills invoiced by external registrars and depositaries, and by the latter, in turn, invoiced to the Company, if need be, the Company will send the Client an additional bill for payment by the latter of services or transfer to the Client the amount of overpaid fees.
[3] In the event that securities are transferred on an inter-depositary basis within the Company’s custody accounts as part of arbitrage transactions, with relevant notices thereof, such fees of the depositary are not charged.
[4] This service implies advance payment of a certain amount of cash, which makes it possible to cover the Company’s expenses related to this service.
[5] The service provided for in Clause 5.7. of these Tariffs shall be provided on the basis of an application additionally submitted by the Company’s Clients and by the Company to the relevant depositary.
* an additional depositary fee related to the compensation of external expenses which include services provided by the registrar (transfer agent) and an external depositary.
** excluding cash collection fees (means one trip to deliver/return securities to/from the place of redemption, income payment, expert appraisal, etc.)
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