Poland's NDS Reduces Fee Schedule

The National Depository for Securities (NDS) distributed amendments to its regulations which were approved by The Polish SEC has approved the National Depository for Securities' new fee schedule. According to the new fee schedule, the Central Depository will charge 0.3%

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The National Depository for Securities (NDS) distributed amendments to its regulations which were approved by The Polish SEC has approved the National Depository for Securities’ new fee schedule.

According to the new fee schedule, the Central Depository will charge 0.3% of the transaction value per day for suspended trades (currently 0.5%), minimum PLN 500.00 per day.

Furthermore, the cost of automatic securities lending has been set at 0.1% of the transaction value for each day of the loan, minimum PLN 500.00 per day. As of June 1st, 2005 also intra-day securities lending will be introduced. Consequently, the fee for securities returned to the lender on the same day will be reduced to PLN 50.00 per loan – in case of the involvement of several lenders, the borrower will have to pay the multiplied amount.

“As of June 1st, 2005 both, fees for suspended trades and for automatic securities lending, will be significantly reduced. Moreover, the quite new product of intra-day securities lending will be implemented,” Krzysztof Pekrul, head of custody at Bank BPH, said.

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