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TERMS OF TRADE AND OPERATION
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Licence to operate as KEPEY
Number of license: KEPEY 009/03
Name: Laiki Brokerage (Financial Services) Ltd
Main Shareholders: Laiki Investments (Financial Services) Ltd
Members of the Board of Directors
Athos Chandriotis
Neophytos Karamanos
Management
Athos Chandriotis
Michael Xiouros
Contents of License
1. Core Services
· Receipt and transmission on behalf of investors of orders in relation to the following:
o Transferable securities and shares in collective investment undertakings
o Money Market instruments
o Financial futures contracts, including equivalent cash settled instruments
o Forward Interest Rate Agreements (FRAs)
o Interest Rate, currency and equity swaps
o Options to acquire or dispose of any of the above instruments including equivalent cash settled instruments and in particular currency and interest rate swaps.
· Execution of clients´ orders for
o Transferable securities and shares in collective investment undertakings
o Money Market instruments
2. Non-core Services
· Investment advice in respect of:
o Transferable securities and shares in collective investment undertakings
o Money Market instruments
· Custody services in respect of
o Transferable securities and shares in collective investment undertakings
o Money Market instruments
· Foreign exchange services where these are connected with the provision of investment services
Terms of operation
| Laiki Brokerage offers a wide range of financial and brokerage services: |
· Processing brokerage transaction on the CSE
· Placing orders for transaction on the CSE can be done through Laiki Brokerage offices or Branches of Laiki Bank, via telephone or fax and through alternative delivery channels, (Laiki eTrading), WAP and Laiki Telebank
· Order execution feedback by fax or email if customer wishes.
· Shares are held under custody. All titles / statements of shares owned or purchased through Laiki Brokerage are held at Laiki Brokerage, thus simplifying the processing of transactions
· Information regarding the breakdown and market value of the clients´ portfolio can be obtained through various channels
· Settlement of buy/sell orders through the operation of specialised accounts held with Laiki Bank in the name of the customer. |
A: Fees and Commissions for services offered by Laiki Brokerage Financial Services Ltd
| Laiki Brokerage Expenses | Commission |
| Commission for brokerage transactions | Maximum 1% |
| Commission for brokerage transactions via electronic channels | 0,5% max.
First three transactions are free |
| Commission for brokerage transactions on bonds | Maximum 0,3% |
| Commission for off the floor trades | 0,1% with a maximum of 50 CYP |
| Custody Services | Free |
| Stamps for Power of Attorney | CYP4 |
| Certifications for Power of Attorney | CYP1 |
2. Cyprus Stock Exchange Expenses
Transaction tax for individuals* 0,6%
Transaction Tax for legal entities* 1,0%
CSE rights for implementation of transactions 0,01%
*Sale trades for non-convertible bonds are not taxed
B: Debit/Credit of Laiki Bank for Trading Accounts
Debit Balance Basic interest + 2,5%+
2,50% (overdraft interest)
Credit Balance Basic Interest – 2,75%
Transaction fees for active accounts only CYP1,00 each term
For the issuance of bank statements CYP1,00 for one item
CYP2,00 for more pages
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Brokerage Services
LAIKI ASSET MANAGEMENT
