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Exchange traded funds

A simple way to start investing

ETFs are investment funds whose shares (units) are traded in stock exchanges.

Why choose ETFs:

  • Transactions with ETFs are as simple as trading stock
  • A possibility to create a diversified portfolio of securities on your own quickly and simply
  • Lower fees as compared to buying each stock individually

What’s ETFs (exchange-traded funds)?

ETFs are investment funds (mutual funds) that are listed on stock exchange and may consist of several asset classes, such as equities, bonds, currency (forex) instruments, commodities etc.

  • By just one investment you can get a basket of products: from stocks, bonds to commodities and currencies.
  • ETF assets are distributed across a range of investment instruments resulting in increased diversification and potentially reduced investment risk.
  • A major part of investors lack time or knowledge to keep track of each stock of companies representing the field they’re interested in.
  • Investing in ETFs saves time and gives an opportunity to invest in industries or indexes that you find interesting and feel confident about.
  • During stock exchange trading session, ETFs are traded just like company stocks.
  • ETF units can be purchased and sold quickly in the preferred quantity at a price acceptable to you.
  • ETFs, just like any other investment instrument, are also subject to various risks, such as legislative risk, currency risk, tax risk, interest rate risk and others.
  • It is important to be aware of those risks and to assess them on a continuous basis*.

*See here for more on the potential risks.

  1. Open securities account or investment account via Internet Banking.
    • You can deposit your own funds in the investment account and make investments in various financial instruments, such as ETFs, equities, bonds etc.
    • No worries about declaring the earned income or paying the income tax after each sales transaction. Further details available here.
    • A possibility to make transfers to your investment account with another bank.
    • To make filling out the annual tax return convenient and simple, the investment account statement can be prepared on the Internet Banking site.

    What are the limitations of an investment account?

    • Cannot make securities transfers or receive securities from third parties or family members.

    See further information about the investment account here.

    • You can make investments in various financial instruments, such as ETFs, equities, bonds etc.
    • It is possible to make securities transfers or receive securities from third parties or family members.

    What are the limitations of a securities account?

    • After each securities sales transaction that results in profit, you need to perform income declaration and tax calculation. Further details available here.
    • Need to prepare information for declaration on income from capital gain on your own using the securities account statement.

    See further information about the securities account here.

  2. Review information on transactions in financial instruments and the associated risks.
  3. Choose your preferred exchange-traded fund (ETF).
  4. Place an order for buying exchange-traded funds (ETF).

When in investing in ETFs, taxes are payable by investors on their own in Latvia in accordance with the Law on Personal Income Tax. The tax payment procedure depends on selected account type.

  • No worries about declaring the earned income or paying the income tax after each sales transaction. Further details available here.
  • To make filling out the annual tax return convenient and simple, the investment account statement can be prepared on the Internet Banking site.
  • After each securities sales transaction that results in profit, you need to perform income declaration and tax calculation. Further details available here.
  • Need to prepare information for declaration on income from capital gain on your own using the securities account statement.
  • Fees charged from both parties of the transaction
  • Bank internal transactions are transactions between the securities accounts of the Bank’s clients.
  • Privatization and compensation certificate transfers may be subject to stamp duties.
  • Information on eligible foreign securities is available from the Bank.
  • Bank internal transactions are transactions between the securities accounts of the Bank’s clients.
  • Transaction fee includes standard settlement fees charged by the Bank’s Custodians.
  • Same fee applies to both free of payment and against payment transactions
  • Fees charged from both parties of the transaction
  • Percentage based trading fees calculated from trade amount.
  • Trading fee is charged in trading currency based on the Bank’s exchange rates.
  • Trading orders transmitted to the Bank can cancelled until executed.
  • In case the order is not executed in full during a single trading day, the trading fee (including minimum trading fee) for partial order execution is charged in full for each trading day when the order is partially executed.
  • On certain markets, minimum transaction amounts may apply.
  • Exchange traded funds (ETFs) in context of this pricelist are treated as shares.
  • Futures and options traded with the Bank are not registered on clients’ securities accounts.
  • The Bank shall disclose the specific mark-up in debt securities trading price upon Client’s request before entering into transaction.
  • A stamp duty of 0,5% of transaction amount on buying UK securities and 1% on buying Irish securities is added to the transaction charges. In certain events, a higher rate (1,5%), a bonus rate or tax exemption may apply for UK securities.
  • If purchase transactions are subject to FTT according to local market regulations (e.g. France 0,3%, Italy 0,1% etc.), such tax is added to the transaction charges.

Effective from 01.03.2020

Service Price, EUR
Other transactions with Latvian securities options
  • Fees charged from both parties of the transaction
  • Bank internal transactions are transactions between the securities accounts of the Bank’s clients.
  • Privatization and compensation certificate transfers may be subject to stamp duties.
Transfer from Initial Register (Deregistration) 4.50
Securities transfer to the insolvent companies register 4.50
Free of payment transaction 4.50
Bank internal free of payment transaction 3.00
Against payment transaction in EUR 6.00
Against payment transaction in USD for USD nominated securities 40.00
Transaction with privatization / compensation certificates Subject to agreement Privatization and compensation certificate transfers may be subject to stamp duties, as well as extra fees associated with the peculiarities of holding them at the “Publisko aktīvu pārvaldītājs Possessor” AS.
Subscription to securities of new issue/ participation in offering Transaction fee Transaction fee depends on the transaction type (without payment or versus payment)
Other transactions with foreign securities options
  • Information on eligible foreign securities is available from the Bank.
  • Bank internal transactions are transactions between the securities accounts of the Bank’s clients.
  • Transaction fee includes standard settlement fees charged by the Bank’s Custodians.
  • Same fee applies to both free of payment and against payment transactions
  • Fees charged from both parties of the transaction
Bank internal free of payment transaction 3.00
Bank internal against payment transaction 6.00
Estonia, Lithuania 10.00
Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Norway, Netherlands, Poland, Portugal, Spain, Sweden, Switzerland, UK, USA, Eurobonds 25.00
Russia 45.00
Foreign funds 45.00
Subscription to securities of new issue/participation in offering Transaction fee Transaction fee depends on the transaction type (without payment or versus payment) and the country where the securities are registered
Service Price, EUR
Channel of submitting the order
Via Internet Banking At branches/By phone 67444141
Broker services
Equities and exchange-traded funds (ETFs) on stock exchanges options
  • Percentage based trading fees calculated from trade amount.
  • Trading fee is charged in trading currency based on the Bank’s exchange rates.
  • Trading orders transmitted to the Bank can cancelled until executed.
  • In case the order is not executed in full during a single trading day, the trading fee (including minimum trading fee) for partial order execution is charged in full for each trading day when the order is partially executed.
  • On certain markets, minimum transaction amounts may apply.
  • Exchange traded funds (ETFs) in context of this pricelist are treated as shares.
  • Futures and options traded with the Bank are not registered on clients’ securities accounts.
  • The Bank shall disclose the specific mark-up in debt securities trading price upon Client’s request before entering into transaction.
  • A stamp duty of 0,5% of transaction amount on buying UK securities and 1% on buying Irish securities is added to the transaction charges. In certain events, a higher rate (1,5%), a bonus rate or tax exemption may apply for UK securities.
  • If purchase transactions are subject to FTT according to local market regulations (e.g. France, Italy), such tax is added to the transaction charges.
Estonia, Latvia, Lithuania Free of charge 0.4%, (min. 5.60 EUR)
in Germany (Xetra), Sweden, USA 0.25%, (min. 10.00 EUR) 0.4%, (min. 28.00 EUR)
in Belgium, Canada, Denmark, Finland, France, Ireland, Netherlands, Norway, United Kingdom (London Stock Exchange, Russian GDR) 0.25%, (min. 15.00 EUR) 0.4%, (min. 28.00 EUR)
in Austria, Czech Republic, Hungary, Italy, Poland, Portugal, Spain, Switzerland 0.25%, (min. 15.00 EUR) 0.4%, (min. 42.00 EUR)
in Russia (MOEX in USD) - 0.55%, (min. 85.00 EUR)
In other countries Subject to agreement
Direct transactions on Nasdaq Riga Subject to agreement
Participation in auctions organized by Nasdaq Riga Subject to agreement
Debt securities
Transactions in debt securities Subject to agreement on price or yield In separate cases or upon client’s request the Bank may reflect transaction margin as a commission.
Nominal value up to 50,000 EUR or the equivalent in other currency Transaction margin up to 3% of the nominal value of the transaction (min. 30 EUR or the equivalent in other currency)
Nominal value from 50,000 to 250,000 EUR or the equivalent in other currency Transaction margin up to 1% of the nominal value of the transaction (min. 30 EUR or the equivalent in other currency)
Nominal value above 250,000 EUR or the equivalent in other currency Transaction margin up to 0.5% of the nominal value of the transaction (min. 30 EUR or the equivalent in other currency)
Purchase of debt securities of the Republic of Latvia or Republic of Lithuania in domestic auctions Transaction margin at the rate of 0.1% of the nominal value bought (min. 30 EUR or the equivalent in other currency) In separate cases or upon client’s request the Bank may reflect transaction margin as a commission.
Fee for transactions with exchange-traded futures Agreed on case-to-case basis
Fee for transactions with exchange-traded options Agreed on case-to-case basis
On account opening and maintenance with a Clearing house* for transactions with futures and options:

*Any Clearing house that is an authorised central counter party (CCP) for the purposes of the European Market Infrastructure Regulation (Regulation (EU) No.648/2012).

Net Omnibus Segregated Account (NOSA) Free of charge
Gross Omnibus Segregated Account (GOSA) Agreed on a case-to-case
Other securities services
Transaction cancellation Transaction fee - Cancellation of instructions is allowed only if instruction is not yet processed by the Bank.
- Transaction fee depends on the transaction type (without payment or versus payment) and the country where the securities are registered
Pledge transaction 15.00
Blocking of securities on bailiff's instructions Transaction fee Transaction fee depends on the transaction type (without payment or versus payment) and the country where the securities are registered
Darījumi ar ieguldījumu fondu daļām See Investment Funds

Effective from 01.03.2020.

  • Tax relief at source / tax reclaim and general meeting services are subject to availability on each specific market.
  • Maintenance fee of an owner account is charged in addition to monthly securities safekeeping fee. Owner account is an account in the name of the Client opened at Nasdaq CSD SE and used only on behalf of the specific Client.
  • Owner account at Nasdaq CSD SE may be opened only at the branch office.
  • Safekeeping fee is calculated based on the value of the portfolio on the last date of the calendar month. Securities are priced according to the month end prices of the Bank’s local agents, market price or nominal value. Bonds are priced at nominal value. Fees are debited on the 20th or later date of the following month from the Client’s cash account linked to the securities account.
  • If Client only holds securities of Estonian, Latvian or Lithuanian companies under liquidation or bankruptcy proceedings according to the Nasdaq CSD SE data, no safekeeping fee is charged.
  • ETF safekeeping fee equals to the safekeeping fee of its trading country.
  • Safekeeping of Depositary Receipts (ADR, GDR) is subject to the respective DR Agent’s fees in addition to safekeeping fees.

Effective from 01.03.2020

Service Price, EUR
Receiving
Account opening 0,00-4,50 Via Internet Banking - Free of charge
At branches - 4.50
Account statements
Statement of holdings 0,00-7,00 Via Internet Banking - Free of charge
At branches – 7.00
Statement of transaction 0,00-7,00 Via Internet Banking - Free of charge
At branches – 7.00
Monthly Securities Safekeeping Fees options
  • Safekeeping fee is calculated based on the value of the portfolio on the last date of the calendar month. Securities are priced according to the month end prices of the Bank’s local agents, market price or nominal value. Bonds are priced at nominal value. Fees are debited on the 20th or later date of the following month from the Client’s cash account linked to the securities account.
  • If Client only holds securities of Estonian, Latvian or Lithuanian companies under liquidation or bankruptcy proceedings according to the Nasdaq CSD SE data, no safekeeping fee is charged.
  • ETF safekeeping fee equals to the safekeeping fee of its trading country.
  • Safekeeping of Depositary Receipts (ADR, GDR) is subject to the respective DR Agent’s fees in addition to safekeeping fees.
Swedbank Group funds Free of charge
Other investment funds, equities and bonds*
- Up to 30 000 EUR** Free of charge
- From the value above 30 000 EUR** 0.008%
* Securities registered in Austria, Belgium, Canada, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, Italy, Latvia, Lithuania, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, UK, USA and Depositary Receipts (ADR, GDR), Eurobonds.
** Swedbank Group Funds are excluded from the calculation of the portfolio value for safekeeping fee calculation.
Other countries Subject to agreement
Other services options
  • Tax relief at source / tax reclaim and general meeting services are subject to availability on each specific market.
  • Maintenance fee of an owner account is charged in addition to monthly securities safekeeping fee. Owner account is an account in the name of the Client opened at Nasdaq CSD SE and used only on behalf of the specific Client.
  • Owner account at Nasdaq CSD SE may be opened only at the branch office.
Owner securities account opening at Nasdaq CSD SE 50.00
Owner securities account monthly account maintenance 50.00
Tax relief at source / tax reclaim Subject to agreement
Participation in general shareholder’s meeting Subject to agreement
Closing
All securities account types Free of charge
Transactions with securities See Securities and Other Exchange-traded financial instruments
Transactions with investment fund units See Investment Funds

Effective from 01.03.2020.

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