Boerse Stuttgart, Europe’s leading market place for private investors, is adjusting its transaction fees for securitised derivatives (warrants and certificates) and also for investment fund units, Exchange Traded Funds (ETFs) and Exchange Traded Commodities (ETCs) with effect from 1 October 2009.
Christoph Lammersdorf, Managing Director and CEO of Boerse Stuttgart Holding GmbH, explained, “Our aim in introducing this new pricing structure is to ensure sustained growth in securitised derivatives, investment fund units, ETFs and ETCs. The new price structure would make trading more attractive, especially where smaller orders were concerned. Small order sizes are very popular in the current market environment. New trading participants, and also investors who had recently been reluctant to buy and sell in view of the difficult overall market situation, were increasingly placing orders for relatively small volumes.
Even today, Boerse Stuttgart already offers advantages over its competitors with regard to the implicit costs, i.e. the spread between bid and ask prices. The restructuring of the transaction fees means that there is now also a substantial improvement with regard to the explicit costs. The new fee structure fulfils the MiFID requirements: it is clear before an order is placed what charges will be due for its execution.
As from 1 October 2009, the fee per order will be made up of the following components (all amounts including 19 percent VAT):
|
Fee
as from 1 October 2009 |
Fee
previously |
Basic
fee |
EUR
0.00 |
EUR
2.38 |
Variable
fee (percentage of the countervalue) |
0.119% |
0.08% |
Floor
(minimum variable transaction fee due) |
EUR
0.00 |
EUR
0.75 |
Cap
(Upper limit of fee) |
EUR
14.50 |
EUR
14.38 |