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INTERBOLSA Fee Books update – January 1, 2019


Interbolsa amended its price list for Financial Intermediaries following the European Central Bank’s decision to increase prices charged for the settlement and account movement through the TARGET2-Securities platform, effective January 1, 2019.

In the strategy defined by Interbolsa, for the prices to be charged in 2019, it was decided to pass on its prices the cost increase with the T2S platform, updating the prices related to settlement and account movement.

Following the project of links between Interbolsa and other European CSDs, which allow cross-border transfers of debt securities between the participants of these CSDs and Interbolsa participants, the link between INTERBOLSA and Clearstream Banking AG (CBF) is in the test phase. Therefore, the prices to be charged for the maintenance of the securities registered in the CBF in the Interbolsa participants’ accounts have already been defined. The following changes were made to Financial Intermediaries’ Fee Books:

Addition of a new paragraph to point 5.1, defining the rules for the application of maintenance fees for debt securities registered in CBF;

Inclusion of Table 6 to point 5.1, establishing the annual percentages to be applied for the purpose of calculating the monthly maintenance fee.

With regard to the prices charged to Issuer Entities, Interbolsa’s Board of Directors decided to reduce the prices charged for the registration and cancellation of issues of warrants and certificates with the purpose of increasing the registration of this type of financial instrument in Interbolsa’s systems.

The fees applied to the manual corrections to the exercise of rights in process or already processed have been changed in order to reflect the risk assumed by Interbolsa.

Interbolsa decided to charge the costs of disclosure information to the market, requested by several entities (issuers entities, paying agents, law firms …). The points 8.7 and 6.10 was added in the price lists of Financial Intermediaries and of the Issuers Entities, respectively.

These amendements shall take effect on 1st of january 2019.