COMMISSON, CHARGES & SCHEDULE

For further details on equity commissions please get in touch with us on +27 (0)10 201 6300 or privatesupport@dma.co.za.

* Fees are VAT exclusive on commission charges.

* All NASDAQ, NYSE and Toronto shares priced lower than 10USD/CAD, will be charged at 3 cents per share

* Algo Orders USD 0.005 per share, CAD 0.005 per Share and 0.03% for all other exchanges.

All funds are UCITS based and will be available to Investment managers and Retail clients. The funds are spread across 68 different Morningstar categories and have exposure to areas such as Global Equity, Japanese Equity, European Fixed Income, High Yield Fixed Income as well as more specific sectors such as Natural Resources and Precious Metals. The instrument universe will expand as we build relationships with further fund houses.

Offshore only (excl. domestic ZA): Execution 10bps (Zero minimums) and custody 15bps per annum.

No Minimum Ticket Fees
When trading Stock options at DMA, there are no minimum ticket fees. Each trade is subject to a flat-rate fee based on the applicable volume bracket.

Carrying Cost
Overnight positions in short Stock Options are subject to a carrying cost. The carrying cost is calculated on the basis of the daily margin requirement and applied when a position is held overnight. The funding rate used for calculating the carrying cost is based on the relevant Interbank-rate + markup (150 bps).

Carrying Cost = Margin requirement * Holding time * (Relevant Interbank rate + markup) / (365 or 360 days).

Holding Fee on long dated bought options
A Holding Fee on bought long dated Stock Options applies.
The Holding Fee will only apply to bought Stock Options with maturity beyond 120 days and be calculated based the Nominal Value and charged end-of-month.

Bought Options daily holding fees per million (Nominal Value)
< 120 days maturity n.a.
>120 days maturity 1.10

Holding Fee per day = Nominal Value / 1,000,000 * Holding Fee

CFD Financing details:

Offshore:
Long – Market Ask Rate +3% Short – Market Bid Rate – 2.5%

Local (domestic ZA):
Long – Market Ask Rate + 3.5% Short – Market Bid Rate – 3.5%

STOP OUT Due to Margin

Please note that if your Margin Utilisation exceeds 100%, DMA, in accordance with its General Business Terms, has the right to close out all open margined orders and positions. Please ensure that you maintain your margin utilisation below 100% to avoid any compulsory close-out by depositing additional funds or reducing the margin exposure on your account.

DMA has a strict stop out procedure should clients be in breach of margin.

If margin exceeds 100% for a period of 47 hours without dropping below 100% to reset the clock, your margined products will be closed out. To prevent this, you should fund the account or reduce your positions to bring down the margin (alternatively contact the trading desk to discuss appropriate resolutions).
Clients will be automatically closed out should margin utilisation breach 150%.

Benefits of trading CFDs with DMA:

• 9000+ CFDs on indices, stocks, commodities and more
• Tight spreads and low commissions.
• Trade with up to 40x leverage with intraday margin.
• Actionable trade signals directly in your platform.
• Stocks and bonds as margin collateral for CFD trading.

* All NASDAQ, NYSE and Toronto shares priced lower than 10USD/CAD, will be charged at 3 cents per share

* Algo Orders USD 0.005 per share, CAD 0.005 per Share and 0.03% for all other exchanges.

* Mininum Spreads Apply

The pricing model DMA’s uses for FX Vanilla Options is the Black-Scholes model. Spreads are variable depending on maturity and currency pair. Prices are shown as dynamic bid/ask spreads. A full list of current FX Vanilla Options spreads are available below:

FX Option Volume-based Pricing

FX Option Volume-based Pricing serves low-volume traders equally as well as it does high-volume traders. We charge a standard ‘Classic’ spread, with the benefit of improved spreads for larger cumulative trading volume.

For example:
If you trade over 50 million USD, you will be charged a Premium spread on volume traded up to 100 million USD
If you trade over 100 million USD, you will be charged a Platinum spread on volume traded in excess of 100 million USD
The spread is defined as the distance between the bid/ask price. Spreads may vary depending on the life of the option and the currency pairs.

Online Contract Options are traded on these monthly volume-based commissions:

Subject to the minimum ticket fee, these commissions are for each contract and for each trade (buy, sell or at expiry) through DMATrader and exclude exchange fees which are listed under the contract specifications.

Online Trading

Offline Trading

Local account custody (Domestic ZA)

Clients are charged a custody fee of ZAR100 per month.

Offshore account custody

Clients are charged a custody fee of 0.10% per annum on the total value of their portfolio.
These fees will be charged on a monthly basis.

ADMIN Charges:
*VAT inclusive

Stock Transfer OUT
Onshore (domestic ZA): ZAR100 per line with a max of ZAR1000. Offshore: USD10 per line with a max of USD100.

This fee covers the cost of transfer as well as account closure, if applicable.

Account closure (account sitting in cash only)
Onshore (domestic ZA): ZAR100 Offshore: USD10

Currency conversion within DMA: 50bps (0.50%). Funds paid to and converted at our Counterpart banks (Crown Agents Bank, HSBC) are subject to conversion costs much higher than the 0.50% executed through DMA. Please consult a DMA representative for further information.

Change opening/purchase prices: USD10 per line Splitting ISINs: 50 EUR

Dematerialization of stock
USD 1,000 per share certificate

Interest on Cash Balances with DMA.

You might be entitled to receive interest on your funds deposited with DMA depending on the market bid rate. The following interest rates apply to funds deposited with DMA:

Net Free Equity:
Local: Fixed rate of 4.5% on ZAR cash balances
Offshore: Fixed rate of 0.5% on USD cash balances

Interest paid on all other offshore currencies on the account is the higher of market bid rates minus the spread indicated in the trading conditions on the platforms.

Negative Net Free Equity:
Interest will be charged on negative cash balances including negative net free equity balances at market ask rates plus the spread indicated in the trading conditions on the platforms. Interest is calculated daily and settled monthly – within seven business days after the end of each calendar month.

DMA invests client monies, segregated and protected, in order to achieve the interest rates received for clients and, in lieu of such, charges an administrative fee. The interest rate received in your account is net of DMA’s administrative charge.

For further details on equity commissions please get in touch with us on +27(0)10 201 6300 or privatesupport@dma.co.za.