|Type of investor||Trading1||Settlement1||Registration1||Total1|
|Investors in general||0.003660%2,3||0.0275%||-||0.031160%|
|Local investment funds and clubs||0.003660%||0.0200%||-||0.023660%|
1 On the financial value of the operation, for each investor (buyer and seller).
2 For transactions executed during opening auctions, closing auctions and in Public Tender Offers (PTO), the value of the trading fee will go back to 0.0070% as long as:
• they are not executed by investment clubs (which continue to be covered by the prevailing rule);
• they are not characterized as day trading.
3 Fixed Income ETF Shares are not subject to the ‘progressive method for all costumers’. The trading fee for will remain 0.0050%.
Obs: Exercise of box structured operations, if carried out until maturity will be exempt of the fees described above.
|Daytrade volume (BRL millions)||Trading1||Settlement1||Total1|
|Up to 4 (including)||Up to 20 (including)||0.003660%2||0.0200%||0.023660%|
|From 4 to 12.5 (including)||From 20 to 50 (including)||0.0030%||0.0200%||0.0230%|
|From 12.5 to 25 (including)||From 50 to 250 (including)||0.0005%||0.0195%||0.0200%|
|From 25 to 50 (including)||From 250 to 500 (including)||0.0005%||0.0175%||0.0180%|
|Over 50||Over 500||0.0005%||0.0155%||0.0160%|
1 Applied on a regressive form, on the financial value of the operation, for each investor (buyer and seller).
2 This fee is subject to the ‘progressive method for all costumers’, except the Fixed Income ETF Shares, for which the trading fee remains 0.0050%.
Obs: Fixed Income ETF Shares volumes are not added to the daytrade values, being considered separately.
The value of the trading fee owed by the costumer will be determined, progressively, for each calendar month in accordance with the average daily trading volume (ADTV), calculated in the previous calendar month, as shown below:
|ADTV Tiers||Reference Trading Fee|
|Up to BRL 9 billion (including)||0.0050%|
|From BRL 9 billion to BRL 11 billion (including)||0.0040%|
|From BRL 11 billion to BRL 13 billion (including)||0.0030%|
|Over BRL 13 billion||0.0020%|
Obs: Fixed Income ETF Shares volume are not considered for this calculation.