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Stock Exchanges of the World; Their Commission and Fee Structure  

Saturday, April 11, 2009

American Stock Exchange

86 Trinity Place

New York, New York 10006-1872

Phone: (212) 306-1000

Fax: (212) 306-1644

Commission and Fees

Commission: 2-10% based on volume; negotiable

Amsterdam Exchanges

Postbox 19163

1000 GD Amsterdam

The Netherlands

Phone: (31 20) 550-4444

Fax: (31 20) 550-4803

Commission and Fees

Commission: Negotiable; no minimum

The Athens Stock Exchange

10, Sofokleus Street

Athens 105 59

Greece

Phone: (30 1) 32-10424

Fax: (30 1) 32-13938

Commission and Fees

Commission: 0.5-1% based on value;

minimum of 100 drachma

Clearing Fees: 0.005% of transaction value

Transfer Charge: 0.09%, registered shares only

Rights on Bearer Shares: 0.011% of transaction value

Australian Stock Exchange

Exchange Centre, 20 Bond Street

Sydney, NSW 2000

Australia

Phone: (612) 9227-0000

Fax: (612) 9235-0056

Commission and Fees

Commission: 0.5-2.5%; negotiable; Minimum A$30-120

Stamp Duty: A$0.3 per A$100; buyer & seller

Barcelona Stock Exchange

Bolsa de Barcelona

Llotja de Mar Building, Passeig Isabel II, 1

08003 Barcelona

Spain

Phone: (34 93) 401-3555

Fax: (34 93) 401-3625

Commission and Fees

Commission: Negotiable

Settlement Fee: 15-250 pesetas based on volume

Exchange Fee: 0-2,250 pesetas based on volume

Note: No Commission/Exchange fee on trades under 5,000 ptas.

Bogotá Stock Exchange

Bolsa de Bogotá S.A.

Carrera 8 No. 13-82 pisos 7-8-9

Santa Fé de Bogotá

Colombia

Phone: (57 1) 243-6501

Fax: (57 1) 281-3170

Commission and Fees

Commission: 0 - 1%; fully negotiable

Brussels Stock Exchange

Bourse de Valeurs Mobilieres de Bruxelles

Palais de la Bourse, Brussel 1000 Bruxelles

Belgium

Phone: (32 2) 509-1211

Fax: (32 2) 511-9500

Commission and Fees

Commission: 200 francs & 0.4-1% based on volume;

negotiable above 20 million francs

Transaction Tax: 0.17%; buyer & seller

Supplementary Fee: 0.03%; 6,000 francs maximum

Budapest Stock Exchange

Budapesti Értéktozsde

H-1052 Budapest

Deák Ferenc u. 5.

Hungary

Phone: (36 1) 429-6700

Fax: (36 1) 429-6800

Commission and Fees

Commission: 0.5 - 1.5%; variable

Buenos Aires Stock Exchange

Bolsa de Comercio de Buenos Aires

Sarmiento 299, 2 piso

1353 Buenos Aires

Argentina

Phone: (54 1) 316-7180

Fax: (54 1) 316-7181

Commission and Fees

Commission: Negotiated

Stock Exchange Fee: 0.10%

Stock Market (MVBA) Fee: 0.08%

Caracas Stock Exchange

Bolsa de Valores de Caracas

Edificio Atrium, Calle Sorocaima entre Avenidas Tamanaco y Venezuala

Nivel PB, Urb. El Rosal, Apartado Postal 62724-A Chacao 1060-A

Caracas

Venezuela

Phone: (58 2) 905-5511

Fax: (58 2) 952-2640

Commission and Fees

Commission: Variable; determined by brokers

Copenhagen Stock Exchange

Københavns Fondbørs

Nikolaj Plads 6, P.O. Box 1040

DK-1007 Copenhagen K

Denmark

Phone: (45) 393-3366

Fax: (45) 3312-8613

Commission and Fees

Commission: 0.025 - 0.15%; negotiable

Stamp Duty: 0.5% by seller

German Stock Exchange

Deutsche Börsenplatz 7-11

60284 Frankfurt/Main

Germany

Phone: (49 69) 2101-5167

Fax: (49 69) 2101-3601

Commission and Fees

Commission: 0.06%; lower on large orders

Bank Commission: 1%; negotiable

Helsinki Stock Exchange

Helsingin Arvopaperipörssi Oy

PL 361

00131 Helsinki

Finland

Phone: (358 9) 173-301

Fax: (358 9) 1733-0399

Commission and Fees

Commission: 1% average; negotiable

Hong Kong Stock Exchange

The Stock Exchange of Hong Kong Ltd.

1st Floor, 1 and 2 Exchange Square

Central

Hong Kong

Phone: (852) 2522-1122

Fax: (852) 2810-4475

Commission and Fees

Commission: At least 0.25%; HK$50 minimum

Transaction Levy: 0.011%; buyer & seller

Trading Tariff: HK$0.50 per transaction

Stamp Duty (Registered Securities): HK$1.25 per HK$1,000; buyer/seller

Stamp Duty (Bearer Securities): HK$3 per HK$100, upon issue by receiver

Transfer Deed Stamp Duty: HK$5. Payable by seller on each new transfer deed

Transfer Fee: HK$2.5 per new share certification issued

Istanbul Stock Exchange

Istanbul Menkul Kiymetler Borsasi

Rihtim Caddesi No. 245, Karaköy 80030

Istanbul

Turkey

Phone: (90 212) 298-2100; (90 212) 252-4800

Fax: (90 212) 298-2500; (90 212) 252-4915

Commission and Fees

Commission: Negotiable; 1% maximum.

Italian Stock Exchange

Borsa Valori Italiana

Piazza Degli Affari 6

20123 Milan

Italy

Phone: (39 02) 72426-1

Fax: (39 02) 72004-333

Commission and Fees

Commission: 0.7% maximum

Stamp Duty: 50 lire per 100,000 lire or fraction. Minimum 3,000 lire per transaction

Special Note: No stamp duty for non residents. No duty on transactions below 400,000 lire.

Jakarta Stock Exchange

Gedung Bursa Efek Jakarta

Jalan Jendral Sudirman Kav. 52-53

Jakarta 12190

Indonesia

Phone: (62 21) 515-0515

Fax: (62 21) 515-0550

Commission and Fees

Commission: 1%. Buyer and seller.

Stock Exchange Levy: 0.1%

Stamp Duty: Rp. 1,000/transaction

Value Added Tax: 10% on commission

Johannesburg Stock Exchange

The Johannesburg Stock Exchange

17 Diagonal Street, P.O. Box 1174

Johanesburg 2001

South Africa

Phone: (27 11) 377-2200; (27 11) 833-6580

Fax: (27-11) 836-6454; (27 11) 834-3937

Commission and Fees

Commission: 0.21%-1.4%. Basic charge of 15 rand.

Negotiable on trades of 200 rand or less. Negotiable commissions on portions of trades over 3 million rand.

Value Added Tax: At standard rate on commission

Marketable Securities Tax: 0.5%

Stamp Duty: 1% (on registration)

Korea Stock Exchange

33 Yoido-dong, Youngdeungpo-Ku

Seoul 150-010

Korea

Phone: (82 2) 780-2271

Fax: (82 2) 786-0263

Commission and Fees

Commission: 0.6% maximum; negotiable

Securities Transaction Tax: 0.45% (seller)

Kuala Lumpur Stock Exchange

Exchange Square, 4th Floor

Off Jalan Semantan, Damansara Heights

50490 Kuala Lumpur

Malaysia

Phone: (60 3) 254-6433

Fax: (60 3) 255-7463

Commission and Fees

Commission: 1%; 5 ringgit minimum; buyer & seller

Clearing Fee: 0.05%

Deposit Fee: 10 ringgit per scrip (applies to investors using Central Depository System)

Withdrawal Fee: 15 ringgit per 1,000 shares (applies to investors using Central Depository System)

Transfer Fee: 10 ringgit (applies to investors using Central Depository System)

Account Opening Fee: 10 ringgit (applies to investors using Central Depository System)

Statement Fee: 1 ringgit (applies to investors using Central Depository System)

Lisbon Stock Exchange

Bolsa de Valores de Lisboa (BVL)

Edificio da Bolsa, Soeiro Pereira Gomes

1600 Lisboa

Portugal

Phone: (351 1) 790-9904; (351 1) 795-2031

Fax: (351 1) 795-2021; (351 1) 795-2024

Commission and Fees

Commission: 0.25 - 0.5% based on volume; trades over 50 million escudos exempt

Stock Market fee: 0.04%

Stamp Duty: 6% of commission (buyer & seller)

London Stock Exchange

Old Broad Street

London EC2N 1HP

United Kingdom

Phone: (44 171) 797-1000

Fax: (44 171) 374-0504

Commission and Fees

Commission: Negotiable

Stamp duty: 0.5% on share transfer

Luxembourg Stock Exchange

Bourse de Luxembourg

11, avenue de la Porte-Neuve

L-2227 Luxembourg

Phone: (352) 47-7936-1

Fax: (352) 47-3298

Commission and Fees

Commission: Fully negotiable; around 0.8%. Minimum 1-4 Francs per share; 250 Francs per contract

Madrid Stock Exchange

Bolsa de Madrid

Plaza de la Lealtad, 1

28014 Madrid

Spain

Phone: (34 91) 589-2600

Fax: (34 91) 531-2290

Commission and Fees

Commission: 25-450 pesetas based on volume; negotiable

Settlement Fee: 15-250 pesetas based on volume

Exchange Fee: 0-2, 250 pesetas based on volume

Note: No commission & Exchange fee on trades under 5,000 pesetas.

Mexican Stock Exchange

Bolsa Mexicana de Valores

Paseo de la Reforma 225, 4° Piso Cuauhtémoc

06500 México, D.F.

Mexico

Phone: (52 5) 726-6796

Fax: (52 5) 726-6793

Commission and Fees

Commission: 1-1.7% based on value; banks and institutions pay flat 0.85%; negotiable

Montréal Stock Exchange

Bourse de Montrél

Tour de la Bourse, C.P. 61, 800 Square Victoria

Montréal, Quebec H4Z 1A9

Canada

Phone: (514) 871-2424

Fax: (514) 871-3565

Commission and Fees

Commission: Negotiable; Minimum C $50-C $75

Quebec Securities Commission Tax: C $0.50

The Stock Exchange, Mumbai

Phiroze Jeejeebhoy Towers, Dalal Street

Mumbai 400 001

India

Phone: (91 22) 265-5860

Fax: (91 22) 265-8121

Commission and Fees

Commission: 2-2.5%. Maximum of Rs. 25 per contract

Stamp Duty: 0.5%

The NASDAQ Stock Market, Inc.

1735 K Street, NW

Washington, District of Columbia 20006-1500

United States of America

Phone: (202) 728-8000

Fax: (202) 293-6260

Commission and Fees

Commission: 2-10% based on volume; negotiable

New York Stock Exchange, Inc.

11 Wall Street

New York, New York 10005

United States of America

Phone: (212) 656-3000

Fax: (212) 656-5557

Commission and Fees

Commission: 2-10% based on volume; negotiable

New Zealand Stock Exchange

Level 9, ASB Bank Tower

2 Hunter Street, P.O. Box 2959 DX SP23501

Wellington

New Zealand

Phone: (64 4) 472-7599

Fax: (64 4) 473-1470

Commission and Fees

Commission: Negotiable

Transaction Fee: NZ $40 per trade

The Oslo Stock Exchange

Tollbugaten 2

N-0152 Oslo

Norway

Phone: (47 22) 341-700

Fax: (47 22) 416-590

Commission and Fees

Commission: 0.3-0.5% or less; negotiable

Paris Stock Exchange

SBF - Bourse de Paris

39 rue Cambon

F-75001 Paris

France

Phone: (33 1) 49-27-1000

Fax: (33 1) 49-27-1171

Commission and Fees

Commission: Negotiable

Philippine Stock Exchange, Inc.

Exchange Road, Ortigas Center

Pasig City

Philippines

Phone: (63 2) 636-0122

Fax: (63 2) 634-5920

Commission and Fees

Commission: 1.5% (maximum); buyer & seller

Transfer Fee: 45 Pesos per certificate

Documentary Stamp Tax: 1.5 peso per 200 Pesos per value

Value Added Tax: 10% on Transfer Fee

Stock Transaction Tax: Tax: 1/2 of 1% (in lieu of capital gains tax)

Transaction Fee: 1/200 of amount; buyer & seller

Prague Stock Exchange

Burza cennych papíru Praha

Rybná 14

110 00, Praha 1

Czech Republic

Phone: (420 2) 2449-3363; (420 2) 2449-3414

Fax: (420 2) 264-897

Commission and Fees

Commission: 0.9-4% for volumes up to Koruny 10,000. 1-2% for higher volumes; 0.4% - 0.5% for volumes around Koruny 1 million.

Rio de Janeiro Stock Exchange

Bolsa de Valores do Rio de Janeiro

Praça XV de Novembro, 20

Rio de Janeiro - RJ - CEP 20010-010

Brazil

Phone: (55 21) 271-1001

Fax: (55 21) 221-2151

Commission and Fees

Commission: 0.5-2% maximum based on volume; fully negotiable

Transaction Fee: 0.025%

Clearing Fee: 0.025%

Santiago Stock Exchange

Bolsa de Comercio de Santiago

La Bolsa 64

Santiago

Chile

Phone: (56 2) 698-2001; (56 2) 695-8077

Fax: (56 2) 672-8046

Commission and Fees

Commission: 0.35% - 1%; negotiable.

Exchange Fees: Up to 0.5% based on volume

Value Added Tax: 18% on commission & Exchange fees

Note: Investors may also sign semi-annual or annual agreements with the Exchange to operate without fees by paying a tariff of U.F. 582 per half year or U.F. 1,107 per year. U.F. is an inflation indexed unit.

São Paulo Stock Exchange

Bolsa de Valores de São Paulo (Bovespa)

Rua XV de Novembro, 275

01013-001 São Paulo SP

Brazil

Phone: (55 11) 233-2000

Fax: (55 11) 233-2430

Commission and Fees

Commission: 0.5-2% max. based on volume; fully negotiable

Transaction Fee: 0.025%

Clearing Fee: 0.025%

Stock Exchange of Singapore

20 Cecil Street # 26-01/08, The Exhange

Singapore 049705

Phone: (65) 535-3788

Fax: (65) 535-3544

Commissions and Fees

Commission: 0.5-1% based on volume; negotiable above Singapore $1.5 million with 0.3% min.; S $2 per contract minimum

Clearing Fee: 0.05%; Singapore $100 maximum

Contract Stamp Duty: Singapore $1 per S $1,000 or part

Transfer Stamp Duty: 0.2% when registered

Goods & Services Tax (GST): 3% of commission and clearing fees

Stockholm Stock Exchange

Källargränd 2, P.O. Box 1256

S-111 82 Stockholm

Sweden

Phone: (46 8) 613-8800

Fax: (46 8) 108-110

Commissions and Fees

Commission: 0.45% up to 500,000 Krona; 0.3% for higher amounts; 200 - 300 Krona minimum for domestic transactions, negotiable

Swiss Stock Exchange

Selnaustrasse 32

CH-8021 Zürich

Switzerland

Phone: (41 1) 229-2111

Fax: (41 1) 229-2233

Commissions and Fees

Commission: Negotiable

Federal Tax: 0.075%

Exchange Fees: 0.015%

Taiwan Stock Exchange

85 Yen Ping S. Road

Taipei

Taiwan, R.O.C.

Phone: (886 22) 3114020; (886 22) 3969270

Fax: (886 22) 3114004; (886 22) 3753669

Commissions and Fees

Commission: 0.1425%; buyer & seller NT $20 minimum

Transaction Tax: 0.3%; seller

The Tel-Aviv Stock Exchange Ltd.

54 Ahad Ha' am Street

Tel-Aviv 65202

Israel

Phone: (972 3) 567-7411

Fax: (972 3) 510-5379

Commissions and Fees

Commission: 0.25-1% based on volume; negotiable

The Stock Exchange of Thailand

The Stock Exchange of Thailand Building

62 Rachadapisek Road, Klongtoey

Bangkok 10110

Thailand

Phone: (66 2) 229-2000; (66 2) 654-5656

Fax: (66 2) 654-5649

Commissions and Fees

Commission: 0.5%; buyer & seller; 50 Baht minimum. No commission on odd-lot trading.

Stamp Duty: 1 Baht for every 1,000 Baht; transferors of share certificates

Tokyo Stock Exchange

2-1, Nihombashi-Kabuto-cho

Chuo-Ko, Tokyo 103

Japan

Phone: (81 3) 3666-0141

Fax: (81 3) 3663-0625

Commissions and Fees

Commission: 0.1 - 1.15%; negotiable on trades over 1 billion Yen. Minimum 2,500 Yen.

Securities Transfer Tax: 0.21% (0.21% for securities companies.). Payable by seller.

The Toronto Stock Exchange

The Exchange Tower, 2 First Canadian Place

Toronto, ON M5X 1J2

Canada

Phone: (416) 947-4487

Fax: (416) 947-4272

Commissions and Fees

Commission: Negotiable; min. C $50 - C $75

Vienna Stock Exchange

Wiener Börse

WipplingerstraBe 34

1013 Wien

Austria

Phone: (43 1) 534-99-0

Fax: (43 1) 535-68-57

Commissions and Fees

Total Bank Fees: 1.25%; negotiable. Minimum 300 - 700 Schillings (ATS).

Note: Fees include brokerage and stock transfer tax

Warsaw Stock Exchange

Gielda Papierów Wartosciowych w Warszawie S.A. ul Nowy Swiat 6/12

00-400 Warszawa

Poland

Phone: (48 22) 661-7317; (48 22) 628-3232

Fax: (48 22) 628-1754; (48 22) 628-8191

Commissions and Fees

Commission: 0.75-2%; negotiable on trades over 500 million Zlotys.

Stamp Duty: 0.2% by seller.

by Farooq