General rules
Transaction fees are payable by the seller as well as the buyer on the basis
of the total value of the transaction they engage in. For fee payment purposes,
cross orders shall be deemed to constitute two transactions, a purchase and a
sale.
Transaction fees shall become due and payable whenever the amount of transaction
fees payable by a section member surpass the minimum annual fee for section membership
paid by the section member.
Section members shall effect payment of the transaction fee by the 10th of the month following the month that said fee is payable against. The transaction
value expressed in forints of the listed products traded in currencies other than
the Hungarian forint is determined taking account of the official NBH Exchange
Rate effective for the day of the transaction.
Transaction fees in each section
The transaction fee payable against each deal in the equities section shall be
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0.015 percent (1,5 basis point) of the transaction value expressed in forints,
with a minimum of HUF 50 and a maximum of HUF 35,000, where those transactions
that were realized on both the buyer-side and the seller-side from one offer in
a given month are considered as a single transaction when calculating the transaction
fee.
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Generally, the Budapest Stock Exchange does not apply special discount and rebate
schemes connected to the trading related fees in the equities section. The only
exception is the market maker rebate for certain products, of which the details
are set in the market maker contract.
The transaction fee payable against each deal in the debt securities section shall be
0.01 percent of the transaction value expressed in forints, with a minimum of
HUF 50 and a maximum of HUF 2,000, where those transactions that were realized
on both the buyer-side and the seller-side from one offer in a given month are
considered as a single transaction when calculating the transaction fee.
The transaction fee payable against each deal in the derivatives section
In the derivatives section transaction fees paid for day trade transactions (opening,
and closing on a single given exchange day) are calculated on the basis of the
contracts made.
In respect of the contracts in the derivatives section, from fees paid for daytrade
transactions – where opening and closing took place on a single given exchange
day on the same position management account and it implied no cross agency deal
– the Budapest Stock Exchange provides 50% allowance.
The transaction fees payable against a deal in futures products are listed in
Feeschedule.
The fee charged for equity and index-based futures contracts is determined on
the basis of the following principles:
Primary counterparty is the one whose order enters the Order Book before the
order results a trade. Taker is the one whose order makes a deal by matching a
given order in the Order Book. On the derivatives market the counterparty whose
order falls on the earlier calendar day shall be the primary counterparty. If
the orders of the two counterparties fall on the same calendar day, the one with
the lower number of order shall be the primary counterparty.
Transaction fees payable against equity and index-based futures contracts shall
be reviewed on the first exchange day after June 15 and December 15.
During the review, transaction fees payable against equity and index-based futures
Contracts shall be calculated in a manner whereby the transaction fee payable
against a single Contract corresponds to .003 percent of the Market Value of the given Contract for both, the primary
counterparty and the taker in the opening and closing sub-period.
During the review, transaction fees payable against equity and index-based futures
Contracts shall be calculated in a manner whereby the transaction fee payable
against a single Contract corresponds to .003 percent of the Market Value of the given Contract for the primary counterparty and to
.0045 percent for the taker in the free period.
During the review, the mathematical average of daily cash market closing prices
of the underlying product in the month preceding the date of the review shall
be taken into account for the purposes of determining the market value of the
contract.
The transaction fees valid from the first calendar day of the month following
the month of review until the last calendar day of the next review month (from
January 1 to June 30, and from July 1 to December 31) shall be set by rounding
the values received from the previous calculation to the nearest HUF 1.
Whenever a new equity or index-based futures product is listed, the CEO sets
the fees payable for transactions in the given product in line with the provisions
in Feeschedule.
The transaction fees payable against a deal in options products are listed in. Feeschedule.
Transaction fee payable against each deal in the commodities section
In the commodities section transaction fees paid for day trade transactions (opening
and closing on a single given exchange day) are calculated on the basis of the
contracts made.
In respect of the contracts in the commodities section, from fees paid for daytrade
transactions – where opening and closing took place on a single given exchange
day on the same position management account and it implied no cross agency deal
– the Budapest Stock Exchange provides 50% allowance.
Transaction fees for certain products of the commodities section are included
in Feeschedule.
