Kauppojen selvityskustannukset

Fees to settle trades
The following descriptions describe the costs to settle a Market Place trade, Transaction instructed by Clearing Party trade or other settlement transaction in the HEXClear system and standard fees to settle instructions in Ramses system.

Equity and retail bond market
The following table displays standard fees for settling trades in the Euroclear Finland's HEXClear system for the equities. The fees can however vary e.g. depending on the point in time the action is done.

Market Place trades are transferred automatically into Euroclear Finland's HEXClear system. Trades transferred into the HEXClear system are irrevocable and the relevant broker's default Clearing Party has the responsibility to settle trades on the given settlement day (typically on T + 3). Transaction instructed by CLP trade halves and other settlement transaction halves are entered by the Clearing Parties into the HEXClear system and the system automatically matches the halves.

For a Market Place trade and other transactions both parties in the transaction needs to enter enrichments (preliminary information) using the HEXCler ref number as reference. The seller side CLP enters enrichment for a securities withdrawal from selling side end customer's book-entry account. This information is entered into HEXClear and it is sent to Account Operators via APK's Central Register. The buyer side CLP respectively enters into HEXClear a receive enrichment related to a buyer side end customer's book-entry account.

The trades do not need to register a 'one-to-one' condition between the withdrawal/delivery enrichment and deposit/receive enrichment. For example on the withdrawal side there may be several delivering customers and enrichments as well as on the deposit side there may be several receiving customers and accounts.

Example 1. Securities withdrawal from one customer's book-entry account to several deposit side customers' book-entry accounts.

Example 2. Several withdrawal from customers' book-entry accounts to one deposit side's customer's book-entry account.

What it comes to Transaction instructed by CLP-transaction whom is registered by Clearing Parties into the HEXClear system each party has to enter the enrichment(s) in the same way.

Trades have normally a 'one-to-one' enrichment condition in the case where there is only one withdrawal enrichment and one deposit side enrichment. However, it is possible to use 'one-to-many', 'many-to-one' or many-to-many enrichment conditions.

Pricing example for debt instrument settlement
The table below displays standard fees to settle instructions in the Euroclear Finland-system for the RM market, in Ramses system.

Explanation to the picture:

In RM market every participant registers a trade half. Seller registers a sell half of the trade and the buyer registers a buy half of the trade. In addition to that Euroclear Finland has the option to charge for payment transfers regarding trade settlement. Separate register fee is not charged.

"The price examples are provided in order to match the principles set forth in the EU Code of Conduct. They should be considered as mere examples of the application of the price lists in certain cases and circumstances, and they shall not be considered to be an offer by Euroclear Sweden or Euroclear Finland. They do not represent all-inclusive prices or contract prices. The cost for the service provided in the examples are estimations based on the price lists valid as of the date of the examples, and the price lists may be changed from time to time. Furthermore, the examples are based on assumptions that Euroclear Sweden and Euroclear Finland have made for illustrative purposes in respect of the activities of the customers. These activities may differ on a case-by-case basis depending on the procedures and preferences relating to the operations of the respective customer. The actual sum of fees invoiced from the customers may vary on account of various factors, including but not limited to the application of VAT. The examples should be read in their context and they are qualified by the more detailed information provided in the valid price lists. The decision to use the services should be based, among other things, on consideration of the relevant and valid price list as a whole."

"For historical, technical, legal and other reasons, the pricing structures of the NCSD Group companies, Euroclear Sweden and Euroclear Finland differ. The services provided by Euroclear Sweden and Euroclear Finland are not comparable in detail, and therfore the price lists and fees charged may differ. Furthermore, the examples provided are divergent."