ECONOMIC CONDITIONS

Access to the service is free.

NATIONAL MARKET

The commission on securities sale-purchase during the first year of subscribing the service is:

• For orders under € 5,000: it is € 0.
• For orders equal to or above € 5,000: fixed of € 7.

As of the second year, the commission is:

• For orders under € 5,000: fixed of € 6.
• For orders equal to or above € 5,000:  0.35 % of cash sum.

In purchase-sale orders of subscription rights, the commission is 0.60 % of cash sum, with a minimum of € 3 per operation.

This fee is to be increased by adding the following charges at the official rate: 

1. Transactions charge 

1.1 Securities belonging to the IBEX 35® index whose free float capitalisation exceeds €8,000 million:

Rate applied to the total cash traded: 0.30 basis points (0.30/10,000). 

The rate shall apply to purchase and sale transactions carried out in the order book and a minimum of €1 shall apply to the cash traded on the same day by a common end customer, value, type of transaction and effect. 

1.2 Other securities and transactions: 

For cash traded on the same day by a common end customer, value, price, type of transaction and effect, the amount resulting from applying the following scale: 

• Contract charge. As per the following table:
  

If the sum of this rate for a common end customer, value and effect is greater than €110, the lesser of the following amounts will be taken: 

• 0.33 basis points (0.33/10,000)  on negotiated cash with a minimum of €110.

• The already calculated rate. 

2. Charge for order characteristics

The charge for characteristics of the order applies to all securities in addition to the charges described in point 1. 

2.1 Order carried out in a competitive bidding process: 

Orders negotiated during the bidding period will have a charge of €1. The rate will apply to each competitive bidding process in which you negotiate the order of a common end customer, without taking into account the number of executions of the order for each negotiation date. 

2.2 Order restrictions: 

Execution restrictions (minimum volume, execute or cancel and all or nothing) will carry an associated cost of 2 basis points (2/10,000) on the total cash traded on that order per each end customer and effective date, with a minimum of €0.50 and a maximum of €1 per order.


In addition, and in order to facilitate transactions related to the trading of subscription rights, the rate referred to in point 2.1, relating to orders executed in a competitive bidding process, shall not apply to orders negotiated in a competitive bidding process which refer to the aforementioned subscription rights. 

INTERNATIONAL MARKET

For buying and selling of securities, the fee is 0.60% on cash with a mínimum of €15 per transaction.

For buying and selling of subscription rights, the fee is 0.60% on cash, with a mínimum of €18 per transaction.

Prospectus on Maximum Rates in Securities Market Transactions and Services