Miscellaneous Fees
| ACH Recall/Reversal/Return | $30.00 |
| ADR Holding Fee (This fee is charged annually by DTCC) | $0.03 per share |
| Bond Redemption | No Fee |
| Cancel and Rebill | $5.00 |
| Cash Account Late Payment Same as margin debit charges, plus: | $10.00 |
| Check Reorder | $10.00 |
| Conversion of Bonds/Preferreds | $13.95 |
| Copy of Past Confirmation | $5.00 |
| Copy of Past Statement | $5.00 |
| Estate Valuation | $45.00 |
| Full Transfer Out | $50.00 |
| Partial Transfer Out (per security) | $25.00 |
| IRA Maintenance | No Fee |
| IRA Setup | No Fee |
| IRA Termination | $50.00 |
| Legal Transfer Out (per security) after 28 days | $25.00 |
| Option Exercise/Assignment | $14.95 |
| Options Regulatory Fee (ORF)
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Options Regulatory Fee (ORF) This fee went into effect January 11, 2010. This regulatory fee will be added to every option trade, both buys and sells. The new rate for the ORF is the combined amount of fees as follows: International Securities Exchange (ISE) - $0.0035 per contract; $0.01 per trade minimum, Boston Stock Exchange (BOX) - $0.0030 per contract; $0.01 per trade minimum, NASDAQ OMX PHLX (PHLX) - $0.0035 per contract Chicago Board Options Exchange (CBOE) - $.004; $.01 minimum per trade. The effective rate of the ORF fee will be $0.014 per contract. Fee charges will be rounded to the nearest penny. More information regarding the fees are available from the Exchanges and can be accessed below: International Securities Exchange (ISE) Updates to fees are made on a best efforts basis, however all fees are subject to change without notice. For current information and updates, please refer to the appropriate website. |
$0.014 per option |
| Overnight Check Fee | $20.00 |
| Overnight Check Fee (Saturday) | $25.00 |
| Overnight Fee (International) | $25.00 |
| Mandatory Reorganization | No Fee |
| Reorganization - Less than 48 Hours (per security) | $50.00 |
| Returned Check | $30.00 |
| SEC Transaction Fee
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SEC Transaction Fee On April 1, 2010, the Section 31 Fee increased the rate applicable to specified securities transactions on the exchanges and in the over-the-counter markets from $12.70 per million dollars to $16.90 per million dollars. This fee rate will remain in place until further notice. How to Calculate: For more information visit the FINRA web site http://www.sec.gov/news/press/2010/2010-29.htm Updates to fees are made on a best efforts basis, however all fees are subject to change without notice. For current information and updates, please refer to the appropriate web site. |
Varies |
| Short Stock Hard to Borrow Fee
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Short Stock Fee Based on the recent changes to the short stock rules and increased difficulties to borrow stock, our clearing firm, Penson Financial Services will be passing on charges for shorting stock that they must locate outside of their firm. These stocks are typically called hard to borrow securities. The fees can be charged daily and posted to the customer’s account the following business day for settled positions. The formula for the Hard to Borrow fee (HTB) is the rate times the principal value divided by 360 to come up with the daily charge. The principal value of the security is calculated by taking the securities price at the end of the previous trading day then multiplied by 1.02%, the figure is then rounded up to the nearest dollar amount. Updates to fees are made on a best efforts basis, however all fees are subject to change without notice. For current information and updates, please refer to the appropriate web site. |
Varies |
| Split Units | $14.00 |
| Stock Certificates (each certificate) | $100.00 |
| Tenders | |
| Voluntary Per Position | $25.00 |
| Voluntary Per Position - Less Than 48 Hours | $50.00 |
| Mandatory | No Fee |
| Trading Activity Fee (TAF)
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Trading Activity Fees (TAF) Effective July 1, 2010, Trading Activity Fees (TAF) will be passed through to customers as part of normal transaction processing. As an industry transaction standard, FINRA levies a Trading Activity Fee (TAF) on the sale of covered securities pursuant to Section 1 of Schedule A to the FINRA By-Laws. Covered securities include: 1) all exchange registered securities wherever executed (other than bonds, debentures, and other evidence of indebtedness), 2) all other equity securities traded otherwise than on an exchange, 3) all security futures wherever executed, 4) all “TRACE-eligible securities” wherever executed, provided that the transaction also is a “reportable TRACE transaction,” as these terms are defined in Rule 6210; and (5) All municipal securities subject to MSRB reporting requirements. Current FINRA TAF Fees for covered equity securities (including Bulletin Boards, Pink Sheets and ETF) are $.000075 per share with a minimum charge of $0.01 and a max charge of $3.75 per sale transaction. The FINRA (TAF) for option sales is currently $0.002 per contract and fees for covered debt securities are $0.00075 per bond, with a maximum assessment of $0.75 per trade (based on 1,000 bonds). Updates to fees are made on a best efforts basis, however all fees are subject to change without notice. For current information and updates, please refer to the appropriate web site. |
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| Stocks & ETF's | $0.000075 per share (max. $3.75 per trade) |
| Options | $0.002 per contract |
| Covered Debt Securities | $0.00075 per bond (max. $0.75 per tade) |
| Wire Transfers | |
| Wire Transfer | $20.00 |
| International Wire Transfer | $50.00 |
| Recalled Wire | $30.00 |
| Returned Wire | $30.00 |
| Wire Amendment | $15.00 |
| Wire Investigation | $50.00 |
| Wire Repair | $15.00 |
| Worthless Security Held | $7.50 per cusip, per month |
| Worthless Security Reinstated | $15.00 per cusip, if security has not bee destroyed by DTC |
| Certificate Processing Fee | $75.00 per cusip, per deposit |
| DRS Statement Withdrawal | $30.00 |
| A DRS statement is sent only when a security is returned to the transfer agent to hold in book entry form. | |
| DWAC and DRS Process Fee | $30.00 plus transfer agent fees |
| Foreign Securities Delivery | $15-200.00 |
| Foreign Securities Transfer | $15-200.00 |
| Request for Certificate of DRS Eligible Issue | $350.00 per certificate withdrawal, plus applicable fees† |
| Rush Transfer Request | $575.00 per certificate withdrawal† |
| Transfer and Ship Request | $235.00 plus applicable fees† |
| Warrant Exercise | $125.00 plus applicable fees† |
†Applicable fees include wire fees, rejection fees, and shipping fees, redeposit fees, DWAC fees, and agent fees.
Fees effective June 25, 2010. All fees subject to change without notice.