DMA

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      COMMISSON, CHARGES & SCHEDULE

      Applicable to SCM DMA (Pty) Ltd and SCM DMA (Mauritius) Ltd, both part of the DMA Group (hereafter “DMA”).
      To be read with the Genral Business Terms.

      EQUITY

      Active Pricing. If you execute 100 trades or more per calendar month on Stocks, ETFs and Single Stock CFDs, you qualify for an Active Pricing Plan with very competitive rates.

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

      Exchange

      Commision rate

      Minimum commission

      Commision currency

      NASDAQ & NYSE

      0.25%

      15

      USD

      Amsterdam

      0.25%

      10

      EUR

      Australian

      0.25%

      15

      AUD

      Brussels

      0.25%

      15

      EUR

      Copenhagen

      0.25%

      40

      DKK

      Frankfurt

      0.25%

      50

      EUR

      Deutsche Borse (XETRA)

      0.25%

      15

      EUR

      Hong Kong

      0.25%

      125

      HKD

      Helsinki

      0.25%

      15

      EUR

      Irish

      0.25%

      15

      EUR

      Johannesburg

      0.30%

      100

      ZAR

      Lisbon

      0.25%

      15

      EUR

      London

      0.25%

      8

      GBP

      Milan

      0.25%

      15

      EUR

      Oslo

      0.25%

      80

      NOK

      Paris

      0.25%

      15

      EUR

      Singapore

      0.25%

      25

      SGD

      Spanish

      0.25%

      15

      EUR

      Stockholm

      0.25%

      50

      SEK

      Swiss

      0.25%

      15

      CHF

      Toronto

      0.25%

      15

      CAD

      Tokyo

      0.25%

      1500

      JPY

      Vienna

      0.25%

      15

      EUR

      * 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.

      MUTUAL FUNDS (OFFSHORE)

      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.

      EQUITY OPTIONS

      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

      Equity Options - Volume-based commissions

      Currency

      0 - 1,000

      1,001 - 5,000*

      EUR

      3

      2

      GBP

      2.5

      1.5

      USD

      3

      2

      CHF

      4


      3

      HKD

      30

      20

      cfds

      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.

      North America & Canada

      Exchange name

      Symbol

      Commission

      Minimums

      NASDAQ

      NASDAQ & NSC

      0.25%

      (min 15 USD)

      New York Stock Exchange

      NYSE & ARCA

      0.25%

      (min 15 USD)

      NYSE MKT

      AMEX

      0.25%

      (min 15 USD)

      Toronto Stock Exchange

      TSE

      0.25%

      (min 15 CAD)

      Europe / Middle east / africa

      Exchange name

      Symbol

      Commission

      Minimums

      Athens Exchange

      AT

      0.50%

      (min 10 EUR)

      BME Spanish Exchanges

      SIBE

      0.25%

      (min 10 EUR)

      Budapest Stock Exchange

      BUX

      0.50%

      (min 6,000 HUF)

      Deutsche Börse (XETRA)

      FSE

      0.25%

      (min 10 EUR)

      Irish Stock Exchange

      ISE

      0.10%

      (min 10 EUR)

      Johannesburg Stock Exchange

      JSE

      0.25%

      (min 100 ZAR)

      London Stock Exchange

      LSE_SETS

      0.25%

      (min 10 GBP)

      London Stock Exchange (IOB)

      LSE_INTL

      0.25%

      min 20 USD)

      Milan Stock Exchange

      MIL

      0.25%

      (min 15 EUR)

      NASDAQ OMX Copenhagen

      CSE

      0.25%

      (min 65 DKK)

      NASDAQ OMX Helsinki

      HSE

      0.25%

      (min 10 EUR)

      NASDAQ OMX Stockholm

      SSE

      0.25%

      (min 65 SEK)

      NYSE Euronext Amsterdam (AEX)

      AMS

      0.25%

      (min 12 EUR)

      NYSE Euronext Brussels

      BRU

      0.25%

      (min 12 EUR)

      NYSE Euronext Lisbon

      LISB

      0.25%

      (min 12 EUR)

      NYSE Euronext Paris

      PAR

      0.25%

      (min 12 EUR)

      Oslo Stock Exchange

      OSE

      0.25%

      (min 65 NOK)

      Prague Stock Exchange

      PRA

      0.25%

      (min 500 CZK)

      SIX Swiss Exchange

      SWX & VX

      0.25%

      (min 18 CHF)

      Vienna Stock Exchange

      VIE

      0.25%

      (min 12 EUR)

      Warsaw Stock Exchange

      WSE

      0.35%

      (min 65 PLN)

      Asia / Pacific / Australia

      Exchange name

      Symbol

      Commission

      Minimums

      Australian Securities Exchange

      ASX

      0.25%

      (min 8 AUD)

      Hong Kong Exchanges

      HKEX

      0.25%

      (min 125 HKD

      Singapore Exchange

      SGX-ST

      0.25%

      (min 17 SGD)

      Tokyo Stock Exchange

      TYO

      0.25%

      (min 500 JPY)

      * 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.

      FX

      Currency

      Symbol

      Commission 

      Minimums

      ALL

      ALL

      0.005% ($50/Million)

      USD3

      * Mininum Spreads Apply

      Forex Options

      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

      LEVEL 1

      LEVEL 2

      LEVEL 3

      Volume USDm (average monthly)

      0 - 50

      50 - 100

      > 100

      Spread

      Classic

      Premium

      Platinum

      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.

      Contract Options

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

      Trade Volume: Contracts / Month

      Contract Currency

      1 - 250

      251 - 1,000

      1,000 - 5,000

      AUD

      10

      5

      2.5

      EUR

      6

      3

      1.5

      GBP

      5

      2.5

      1.25

      SGD

      15

      7.5

      3.75

      USD

      6

      3

      1.5

      CHF

      8

      4

      2

      JPY

      1,000.00

      800

      750

      NOK

      65

      35

      20

      SEK

      75

      40

      20

      CAD

      6

      3

      1.5

      HKD

      45

      30

      20

      Futures

      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.

      Contract Currency / Commission

      AUD

      AUD 10.00

      EUR

      EUR 6.00

      GBP

      GBP 5.00

      SGD

      SGD 15.00

      USD

      USD 6.00

      CHF

      CHF 8.00

      JPY

      JPY 1,000.00

      SEK

      SEK 75.00

      CAD

      CAD 6.00

      HKD (Full-sized contracts)

      HKD 45.00

      HKD (Mini contracts)

      HKD 30.00

      NZD

      NZD 15.00

      Bonds

      Online Trading

      Market

      Standard

      European government bonds

      0.1%(min. 80 EUR)*

      US government bonds**

      0.1%(min. 80 EUR)*

      European and US corporate bonds

      0.1%(min. 80 EUR)*

      Emerging Markets bonds

      0.1%(min. 80 EUR)*

      Offline Trading

      Market

      Standard

      US government bonds**

      0.1%(min. 80 EUR)*

      European and US corporate bonds

      0.1%(min. 80 EUR)*

      Custody

      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

      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

      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 (domestic ZA) ZAR deposits are fixed at 3.00%
      Offshore USD, EUR and GBP deposits are fixed at 0%

      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 info@dma.co.za.