The Bratislava Stock Exchange (BSSE) intends to increase its fees. In particular, the Flat Trading Fee for direct trades instructed by local custodians on behalf of their foreign clients will go up from 1 March.
“Despite heavy lobbying by HVB Bank and other sub-custodians, the BSSE plans to adopt the Trading Committee’s proposal to redefine the fee,” explains Matej Letko, head of custody at HVB Slovakia Bank in Bratislava. “We interpret this decision as a result of a non-systematic approach by some BSSE shareholders – namely, non-custodian banks – to follow their own economic interests. With the CSD privatisation project, this is not the time to take extraordinary steps that could further upset the equilibrium of the Slovak capital market. We will continue to monitor market developments closely in order to oppose similar moves in the future.”