FSA Reinstates Turnaround Trading Fees

UniCredit Bank S.A.
Summary: 
FSA to levy fees on OTC turnaround trades as of January 2014.
Mon, 27/01/2014

Starting from January 2014 the FSA fees for monitoring OTC turnaround trades will be reinstated.

These fees will be charged in the amount of 15bps from the settled amount to the buyer in the transaction.

The fees will be collected monthly by the CSD trough the invoices issued to the settlement participants. The fees will be due to be paid to the FSA until the 25th day of the month following the month, in which the trades were concluded.

Impact on investors: FSA fees for OTC turnaround trades in the amount of 15bps from the settlement amount will be due by the buyer from January 2014.