Details of the changes made to the Fee Books

Warrants and Certificates

After several discussions with the issuers of warrants and certificates, and in order to encourage the offering of warrants and certificates in Portugal, Euronext Securities Porto decided to reduce the price of registering and cancelling warrants and certificates from a sliding scale price, with a discount to be applied depending on the number of warrants and certificates issued, to a fixed fee for the registration and cancellation of warrants and certificates. On the other hand, it was also decided to increase the fees charged for the settlement operations of warrants and certificates.

As a result, items 6.5 and 6.7 have been created in the Fee Book of Financial Intermediaries and items 3.2 and 5.9 of the Fee Book of the Issuer Entities have been amended.

Funds

In order to encourage the integration of fund units into the centralised securities system, Euronext Securities Porto has decided to reduce the processing fee for corporate events (namely, capital reduction, income payment and split and reverse split) to meet the specific needs of these products.  On the other hand, it was decided to increase the fee charged on subscription/redemption operations of open-ended funds that do not use order routing functionality, in order to encourage the use of this functionality, thus reducing manual procedures and the inherent risk.

To give form to these changes, the table in point 6.10 of the Fee Book of the Issuer Entities has been changed, points 5.3, 5.6 and 6.5 of the same Fee Book have been added and the text of point 5.2 has been changed, excluding funds and ETFs from the application of the fees established therein.

Settlement Transactions carried out by CSD Investor

In order to encourage the settlement of cross-border operations performed by investor CSDs, Euronext Securities Porto decided to apply only T2S pricing to these operations. As a result, point 6.10 was added to the Financial Intermediaries’ Fee Book.

Family Fee

In order to encourage direct participation of Financial Intermediaries in several Euronext Group CSDs, it was decided to create a Family fee across Euronext Securities Milan, Euronext Securities Copenhagen and Euronext Securities Porto , which will allow Financial Intermediaries to obtain discounts on the settlement operations processed in the T2S platform that they execute in each CSD, i.e. the discount will be based on the sum of the settlement operations executed in T2S by (common) participants of Euronext Group CSDs. To give shape to this change, items 2.8 and 2.9 have been added to the Financial Intermediaries Fee Book.

Connection to Euronext Securities Porto private network

Euronext Securities Porto has decided to reduce the fee it charges for connection via VPN to its private communications network. For this purpose, the fee set out in table 7.1 “Primary connection to systems via VPN” of the Financial Intermediaries’ Fee Book has been amended.

Notification and/or confirmation of events and general meetings

Euronext Securities Porto has decided to discontinue the fee charged to Financial Intermediaries for subscribing to the service of notification/confirmation of events and general meetings. As a result of this change, the first paragraph of point 8.2 of the Fee Book for Financial Intermediaries has been removed.

Registration and Cancellation of Issues

With the purpose of responding to the request of clients, it has been decided to charge the minimum amount established in the registrations and cancellations table of the Issuers’ Fee Book to operations resulting from the transfer of values between different security codes, belonging to the same bond issue. Therefore, a paragraph has been added to the text of point 3.1 and point 5.8 of the Issuers’ Fee Book.

Other changes have also been made to the Fee Books, with no impact on the fees charged, and some items in the Fee Books have been renumbered, following the addition of new items.

Current Fee Books can be found here.