New tariffs at the Central Depository

UniCredit Bank S.A.
Fri, 03/07/2015

The Central Depository published modifications and updates regarding the structure of a number of tariffs and fees, among them the penalty payments.                                                       

The most relevant amendments to the Central Depository fee schedule as of 27 May 2015 are the penalty fees, which will be RON 50 and RON 100 and may rise up to RON 500 and RON 700 (this provision was never removed from the fee schedule) if the number of settlement instructions with a settlement cycle longer than T+0, sent on settlement date, reach the level of 5% of the total of settlement instructions processed by the CSD during a month.

The increase of the effective level of the fee requires a Board decision. Consequently, the fees will be:

  • Maximum RON 500 per instruction for settlement instructions with settlement cycle longer than T+0 sent on settlement date, before the first net settlement session;

Or

  • Maximum RON 700 per instruction for settlement instructions with settlement cycle longer than T+0 sent on settlement date, during the first net settlement session and the second net settlement session.

The fee of RON 50 applied to the distribution of dividends per participant (i.e. broker or custodian) has been removed and RON 2 per shareholder plus any costs incurred through banking transfers will remain in place.

In addition the following fees were introduced:

  • RON 50 for order transfer correction;

And

  • RON 5 per account on a monthly basis for opening and maintaining individual accounts per participant for their clients.

 

Contact:
Irina Savastre
Head of Global Securities Services Romania
irina.savastre@unicredit.ro