|Type of issuer per security||Analysis fee||Annual fee|
|Equities or other securities that grant the owner the right to acquire equities as a consequence
of their conversion or the exercise of rights, except for convertible debentures
|BRL 67,179.48||AN = BRL 42,339.63 + [CS x 0.005%]|
|Sponsored Level I BDRs||BRL 7,903.52||BRL 7,903.52|
|Sponsored Level II or III BDRs||BRL 67,179.48||BRL 42,339.63|
|Unsponsored Level I BDR (per Program)||BRL 7,257.77||Maximum of BRL 7,257.77, according to the table below|
|Real Estate Fund (FII) Shares, ETF Shares, Equity Fund (FIA) Shares||BRL 10,143.10||BRL 10,143.10|
|Listing without designation of security for admission for trading1||BRL 67,179.48||AN = BRL 42,339.63 + [CS x 0.005%]|
|Other securities, per type of security accepted for trading2||BRL 13,041.76||BRL 13,041.76|
1 Issuers that request their listing but do not designate the category of issuer per security for admission for trading.
2 This category encompasses companies entitled to tax breaks pursuant to the provisions of CVM Instruction 265 of July 18, 1997 and subsequent amendments.
AN = Value of the annual fee;
CS = Value of the issuer’s capital stock (in BRL) in reference to December 31, 2019, as informed by the issuer. If the issuer’s capital stock changes after December 31, 2019, the value of the annual fee for 2020 will not be updated.
Depository Institutions as defined in CVM Instruction 332 of April 04, 2000 will be subject to differentiated annual fee charge that may be calculated every quarter, thus enabling the quarterly application of a discount on the value due, based on the number of Level I Unsponsored BDR programs accepted for trading:
|Number of programs||% discount||Annual fee per program|
|0 to 30||0%||BRL 7,257.77 (annual)
BRL 1,814.44 (quarterly)
|31 to 50||50%||BRL 3,628.88 (annual)
BRL 907.22 (quarterly)
|51 to 70||67%||BRL 2,394.05 (annual)
BRL 598.51 (quarterly)
|More than 70||83%||BRL 1,233.71 (annual)
BRL 308.43 (quarterly)
To obtain the discount the issuer must opt for payment of the annual fee resulting from the quarterly calculation;
Should the change to the quantity of Level I Unsponsored BDR programs accepted for trading result in a change to the issuer’s tier status, reducing or increasing the annual fee in proportion to that already paid in the previous quarters, there will be no charge or rebate;
For issuers that opt for a single full payment on an annual rather than quarterly basis, there will be consideration, for purposes of discount calculation, of the quantity of Level I Unsponsored BDR programs accepted for trading on January 01, 2020.
|Discount in the first 12 months||Discount from the 13th to 24th month||Discount from the 13th to 24th month||Discount from the 37th to 48th month|
|100% of the annual fee||75% of the anual fee||50% of the annual Fee||25% of the annual fee|