Securities Lending Fees

The lending trading and post trading fees are calculated as follows:

Where:

LF = settlement fee in BRL;

Q = number of contracts;

C = registered contract quotation;

n = number of business days between the registration date(excluded) and the settlement by multilateral net balance date (included).In case of renewal the period is between the registration date (excluded) and the renewal date (included). The portion (n/252) is truncated in eight decimal places;

i = settlement fee value, in bps/year, calculated as follows:;

Where:

= cost percentage, as table below;

Lending Fee = fee negotiated between lender and borrower;

Floor = minimum fee in bps/year;

Cap = maximum fee in bps/year.

 

Equity Security		Trade			CCP			TTA			Total
Market	Trade		Floor (bps/ano)	Cap (bps/ano)		Floor (bps/ano)	Cap (bps/ano)		Floor (bps/ano)	Cap (bps/ano)		Floor (bps/ano)	Cap (bps/ano)
Electronic Trade	Regular	2.0%	0.25	7	15.5%	1.94	54.26	2.5%	0.31	8.74	20.0%	2.5	70
	Direct	2.5%	0.60	10	15.5%	3.79	73.21	2.5%	0.61	11.79	20.5%	5	95
OTC	Register	N/A	N/A	N/A	25.84%	4.31	103.36	4.16%	0.69	16.64	30.0%	5	120
Compulsory		4.0%	2	25	31.0%	15.50	193.79	5.0%	2.50	31.21	40.0%	20	250

 

 

 

Equity Security		Trade			CCP			TTA			Total
Market	Trade		Floor (bps/ano)	Cap (bps/ano)		Floor (bps/ano)	Cap (bps/ano)		Floor (bps/ano)	Cap (bps/ano)		Floor (bps/ano)	Cap (bps/ano)
OTC	Register	N/A	N/A	N/A	26.0%	4.31	129.20	4.0%	0.69	20.8	30.0%	5	150
Compulsory		4.0%	2	25	31.0%	15.50	193.79	5.0%	2.50	31.21	40.0%	20	250