Broker Application Fees
The application fee is paid at the time the initial application is made. This is a once off fee.
Broker Application Fees 2010
| $ | GST | Total | |
|---|---|---|---|
| Application Fee – Joining | 5,000 | 500 | 5,500 |
| Application Fee - Fidelity Fund | 5,000 | - | 5,000 |
| Total Application Fees | 10,000 | 500 | 10,500 |
Notes
- Whilst the above fees and charges are correct at the date hereof, SIM VSE reserves the right to alter the above fees and charges from time to time.
- Waived fees are reviewed each financial year. The SIM VSE reserves the right to activate these fees as the SIM VSE deems appropriate.
- For fees to list securities please see the Listing Fees Practice Note.
- All application and annual fees are payable in advance.
- Annual fees are calculated on a pro-rata basis. Annual fees are renewable in July of each year.
- Fees are not refundable.
- In order to maintain orderly settlement on a T+3 basis, settlement fail fees are applicable to trading. The fee is levied if there is a shortfall in the quantity of securities in a broker's settlement account. The current formula for calculation of fail fees is as follows:
- The minimum fail fee is $50 per broker participant's settlement account per trade; and
- A fail fee is levied on each business day that a shortfall persists.
- GST is applicable to fail fees.
- Money contributed to the SIM VSE Fidelity Fund is not refundable.
- SIM VSE Brokers can appoint SIM VSE as a settlement agent. An agreement must be signed and relevant fees paid for this service.
Annual Broker Fees
Annual fees are payable each year. In a full year they are calculated on a 1st July to 30 June basis. In the first year of membership they are calculated on a pro-rata basis.
Annual Broker Fees 2010
| $ | GST | Total | |
|---|---|---|---|
| Annual Fee - Participant | 2,000 | 200 | 2,200 |
| Annual Fee - Fidelity Fund | 1,000 | - | 1,000 |
| NETS Trader Workstation (waived) | - | - | - |
| Total Annual Fees | 3,000 | 200 | 3,200 |
Notes
- Whilst the above fees and charges are correct at the date hereof, SIM VSE reserves the right to alter the above fees and charges from time to time.
- Waived fees are reviewed each financial year. The SIM VSE reserves the right to activate these fees as the SIM VSE deems appropriate.
- For fees to list securities please see the Listing Fees Practice Note.
- All application and annual fees are payable in advance.
- Annual fees are calculated on a pro-rata basis. Annual fees are renewable in July of each year.
- Fees are not refundable.
- In order to maintain orderly settlement on a T+3 basis, settlement fail fees are applicable to trading. The fee is levied if there is a shortfall in the quantity of securities in a broker's settlement account. The current formula for calculation of fail fees is as follows:
- The minimum fail fee is $50 per broker participant's settlement account per trade; and
- A fail fee is levied on each business day that a shortfall persists.
- GST is applicable to fail fees.
- Money contributed to the SIM VSE Fidelity Fund is not refundable.
- SIM VSE Brokers can appoint SIM VSE as a settlement agent. An agreement must be signed and relevant fees paid for this service.
Trading Fees
SIM VSE charges AUD $5.50 per buy or sell irrespective of the value of the trade. If trades fail to settle on a T+3 basis a fail fee of $50 per trade per day may be levied. For those using SIM VSE's settlement service (optional) there is an additional fee of AUD $1.10 per buy or sell.
Trading Fees 2010
| $ | GST | Total | |
|---|---|---|---|
| Trade fee per buy or sell | 5.00 | 0.50 | 5.50 |
| Settlement Fee (applicable to agents only) | 1.00 | 0.10 | 1.10 |
Notes
- Whilst the above fees and charges are correct at the date hereof, SIM VSE reserves the right to alter the above fees and charges from time to time.
- Waived fees are reviewed each financial year. The SIM VSE reserves the right to activate these fees as the SIM VSE deems appropriate.
- For fees to list securities please see the Listing Fees Practice Note.
- All application and annual fees are payable in advance.
- Annual fees are calculated on a pro-rata basis. Annual fees are renewable in July of each year.
- Fees are not refundable.
- In order to maintain orderly settlement on a T+3 basis, settlement fail fees are applicable to trading. The fee is levied if there is a shortfall in the quantity of securities in a broker's settlement account. The current formula for calculation of fail fees is as follows:
- The minimum fail fee is $50 per broker participant's settlement account per trade; and
- A fail fee is levied on each business day that a shortfall persists.
- GST is applicable to fail fees.
- Money contributed to the SIM VSE Fidelity Fund is not refundable.
- SIM VSE Brokers can appoint SIM VSE as a settlement agent. An agreement must be signed and relevant fees paid for this service.
