Shares and ETF-s

Shares

A share is a security that gives the opportunity to invest in a company by acquiring an equity share, in return receiving a share of the company’s growth in value and distributed profits (dividends). Historically, equities markets have offered the highest rates of return, while equity investments generally also come with a higher risk than investment funds, and the risk to lose money is generally higher. Via SEB you can acquire traded shares from more than 20 equities markets. You can conclude share transactions in the Internet Bank, branch, or with a broker service (for the latter, a financial markets client agreement is required). Additionally, it is also possible to transfer securities over-the-counter.

ETF-s

An exchange-traded fund (ETF) is similar to an investment fund because it is a pool of securities or other underlying assets, but unlike a regular investment fund ETFs are traded on the stock exchange similarly to equities. ETF-s are a cost-effective way to invest in the shares of a specific region, sector, or commodity (e.g. gold, oil). Unlike regular funds, ETF-s have no entry or exit fees and equities transactions service charges apply when trading. It is possible to trade with ETF-s only when the relevant stock exchange is open.

The following transaction orders are used for trading or concluding securities transactions.

Trading order with requested price
You have to determine the quantity of securities and the requested transaction price.
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“Fill or kill” or orders with additional “fill and kill” condition
You can use “fill or kill” or orders with an additional “fill or kill” condition only for equities traded on Estonian, Latvian, and Lithuanian markets. The order is valid only on the order date. To give an order, insert the quantity of securities that you wish to sell or buy and the appropriate price. Then choose the desired additional condition.
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Securities transfer for payment
A securities transfer for payment is made by an agreement between the parties. As a result of such a transaction, the bank transfers the securities from the seller’s securities account to the buyer’s securities account and the money to be paid for the securities from the buyer’s current account to the seller’s current account.
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Securities transfer without payment
A securities transfer without payment is similar to a securities transfer for payment, but only securities are transferred through the bank.
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Markets
We enable our clients to trade in securities on various world markets.

SEB enables its clients to trade in securities on various markets in the world.

Baltic States
Estonia, Latvia, Lithuania

Europe
SFinland, Sweden, Denmark, Norway, Poland, Hungary, Czech Republic, Holland (Euronext), Portugal (Euronext), Belgium (Euronext), France (Euronext), Switzerland (VIRT-X), United Kingdom (SETS), Ireland (SETS), Germany (XETRA), Austria, Italy, Spain, Russia (MOEX)

North America
USA (NASDAQ, Amex, NYSE), Canada

Detailed list of trading venues used by SEB

Attention!

We approve securities transactions orders for purchasing shares on the Moscow Exchange (MOEX) from a transaction volume of USD 25,000.
We do not execute securities transaction orders to purchase, or to otherwise transfer to a securities account opened with SEB, US shares valued less than 1 USD and which are not listed on NYSE or NASDAQ NMS. Clients who already hold such shares or whose shares in the future cannot be held through SEB due to decrease of share value or change of trading venue, may be contacted by us to request to sell the shares or transfer to another service provider.

The restriction is set by AS SEB Pank according to the securities account and transactions terms and conditions clause 1.4.1.

Trading
We automatically forward transaction orders given via the Internet Bank and traded in the following countries’ stock exchanges to stock exchanges or brokers:

Austria
Belgium
Canada (Toronto, TSX Ventures)
Denmark
Estonia
Finland
France
Germany (Xetra)
Ireland
Italy
Latvia
Lithuania
Netherland
Norway
Portugal
Spain
Sweden
Switzerland
USA (NASDAQ, NYSE, AMEX, NYSE Arca)

SEB’s equity markets department accepts transaction orders on working days from 9:00 a.m.-5:30 p.m. Based on the financial markets client agreement , transaction orders can be given only during this time period. After 5:30 p.m, transaction orders can only be submitted via the Internet Bank.

Securities account	Private individual	Legal entity
Opening and closing
1. Intra-bank securities account	free of charge	free of charge
2. Baltic securities account	EUR 1.60	EUR 25
3. Changing the Baltic securities account administrator (21)	EUR 15	EUR 15
4. Pledge account	-	EUR 35
5. Account closing	free of charge	free of charge
6. Child’s special type of account (4)	EUR 50
Statements issued by SEB Estonia (11)
1. Over the counter	EUR 4	EUR 4
2. Regular monthly statement of the intra-bank securities account by e-mail	free of charge	free of charge
3. Transaction confirmation (for stock exchange transactions), from a bank office	free of charge	free of charge
Statements issued by Baltic Central Securities Depository (11)
1. Notice of opening the securities account (by regular mail)	EUR 1	EUR 1
2. Ordering regular statements from Baltic Central Securities Depository (7)	EUR 1.60	EUR 1.60
3. Daily-, 10-day, quarterly, monthly statement
- domestic by regular mail	EUR 4	EUR 4
- cross-border by regular mail	EUR 6	EUR 6
- by e-mail	EUR 0.30	EUR 0.30
Monthly maintenance fee of empty securities account (3, 11)
1 Monthly maintenance fee of empty Baltic securities account	EUR 0.64	EUR 4.80
2. Monthly maintenance fee of empty intra-bank securities account	free of charge	free of charge

Baltic securities
Transaction fee (1)	Private individual and legal entity
1. Estonia, Nasdaq Tallinn	0,2%, min EUR 3.20
2. Latvia, Nasdaq Riga	0,2%, min EUR 3.20
3. Lithuania, Nasdaq Vilnius	0,2%, min EUR 3.20
4. Share purchase and sale offers and issues conducted through the auction environment of the exchange	0.3%, min. EUR 3.20
Monthly securities account maintenance fee (3, 11, 14)	Private individual
1. Estonian securities EUR 0 - 6,500	EUR 0.64
2. Estonian securities EUR 6500 – EUR 65,000	EUR 2
3. Estonian securities over EUR 65,000	EUR 4
4. Latvian securities	0,008%, min EUR 1
5. Lithuanian securities	0,005%, min EUR 1
Monthly securities account maintenance fee (3, 11, 14)	Legal entity
1. Estonian securities up to EUR 320,000	EUR 8
2. Estonian securities EUR 320,000 up to 3,000,000	0.0025%
3. Estonian securities over EUR 3,000,000	EUR 80 + 0.001% of portfolio value exceeding EUR 3,000,000
4. Only non-marketable Estonian securities(except fund units), (10)	EUR 4.80
5. Latvian securities	0.008%, min. EUR 8
6. Lithuanian securities	0.005%, min. EUR 8

Exchange-traded funds are treated as shares.
Foreign shares (17)	Brokerage fee (2, 15, 16)	Settlement fee (2, 16)	Monthly maintenance fee (3, 6, 11)
				Minimum monthly fee
Nordic equities				Private individual	Legal entity
1. Norway, Oslo SE	0,2%	EUR 14	0,008%	EUR 1 per group of countries	EUR 4 per group of countries
2. Sweden, Nasdaq Stockholm	0,2%	EUR 14	0,008%
3.Sweden, AktieTorget	0,4%	EUR 14	0,008%
4. Finland, Nasdaq Helsinki	0,2%	EUR 14	0,008%
5. Denmark, Nasdaq Copenhagen	0,2%	EUR 14	0,008%
Western European equities
1. Austria, Vienna SE	0,2%	EUR 45	0,03%	EUR 1 per group of countries	EUR 4 per group of countries
2. Belgium, Euronext Brussels	0,2%	EUR 28	0,03%
3. Ireland,Dublin SE (8)	0,2%	EUR 28	0,03%
4. Italy, Milan SE	0,2%	EUR 28	0,03%
5. Spain, Madrid SE	0,2%	EUR 28	0,03%
6. Netherlands, Euronext Amsterdam	0,2%	EUR 28	0,03%
7. Portugal, Euronext Lisbon	0,2%	EUR 28	0,03%
8. France, Euronext Paris	0,2%	EUR 28	0,03%
9. Germany, Xetra	0,2%	EUR 14	0,025%
10. Great Britain, London SE (8)	0,2%, min. EUR 20	EUR 20	0,03%
11. Switzerland, SIX Swiss SE	0,2%	EUR 28	0,03%
Eastern European equities
1. Poland, Warsaw SE (9)	0,2%	EUR 28	0,03%	EUR 1 per group of countries	EUR 4 per group of countries
2. Czech Republic, Prague SE	0,2%	EUR 28	0,03%
3. Hungary, Budapest SE	0,2%	EUR 45	0,03%
Russia
Russia, Moscow SE	0,25%	EUR 45	0,07%	EUR 15	EUR 25
North- American equities
1. Canada / value of share less than CAD 20	CAD 0.04 per share	EUR 28	0,015%	EUR 1 per group of countries	EUR 4 per group of countries
2. Canada / value of share more than CAD 20	0.2%	EUR 28	0,015%
3. USA / value of share less than USD 7.5	USD 0.015 per share	EUR 14	0,015%
4. USA / value of share more than USD 7.5	0,2%	EUR 14	0,015%
Other
Other countries (e.g. Japan, Hong Kong, Australia)	0.75% or according to agreement	EUR 75 or according to agreement	0,05% or according to agreement	EUR 1	EUR 4
Trading account	Brokerage fee of the respective country	Brokerage fee of the respective country	0,025%	EUR 3.20	EUR 3.20

Bonds (17)	Settlement fee (2)	Monthly maintenance fee (3, 6, 11)
			Minimum monthly fee on foreign bonds
Nordic bonds			Private individual	Legal entity
1. Norway	EUR 20	0,008%	EUR 1 per group of countries	EUR 4 per group of countries
2. Sweden	EUR 20	0,008%
3. Finland	EUR 20	0,008%
4. Denmark	EUR 20	0,008%
Western European bonds
1. Austria	EUR 28	0,008%	EUR 1 per group of countries	EUR 4 per group of countries
2. Belgium	EUR 28	0,008%
3. Ireland	EUR 28	0,008%
4. Italy (20)	EUR 28	0,008%
5. Spain	EUR 28	0,008%
6. Netherlands	EUR 28	0,008%
7. Portugal	EUR 28	0,008%
8. France	EUR 28	0,008%
9. Germany	EUR 20	0,008%
10. Great Britain	EUR 28	0,008%
11. Switzerland	EUR 28	0,008%
12. Eurobonds (ISIN starts with XS)	EUR 20	0,008%
Eastern European bonds
1. Poland (9)	EUR 28	0,025%	EUR 1 per group of countries	EUR 4 per group of countries
2. Czech Republic	EUR 28	0,025%
3. Hungary	EUR 28	0,025%
Russian bonds
Russia	EUR 75	0,05%	1 euro	4 euro
North-American bonds
1. Canada	EUR 28	0,008%	EUR 1 per group of countries	EUR 4 per group of countries
2. USA (20)	EUR 20	0,008%	EUR 1 per group of countries	EUR 4 per group of countries
Other bonds
1. Other countries	EUR 75	0,05%	EUR 1 per group of countries	EUR 4 per group of countries
2. Structured foreign bonds, distributed by AS SEB Pank (13)	EUR 20	0,008%
3. Structured foreign bonds, mediated by AS SEB Pank	Brokerage fee of the respective country	Brokerage fee of the respective country

Fund transactions (19)	Settlement fee	Monthly maintenance fee (3, 11)
Fund managed by AS SEB Varahaldus (1,17)
1. Purchase	free of charge	according to the Estonian securities price-list
2. Sale	EUR 3.20
3. Change of fund units	EUR 3.20
4. Purchase of fund units with standing payment order of fundsaving	free of charge
SEB Investment Management AB funds registred in Luxembourg (17)
1. Purchase	EUR 3.20	free of charge
2. Sale	EUR 3.20
3. Change of fund units	EUR 3.20
4. Purchase of fund units with standing payment order of fundsaving	free of charge
Other funds registered in Estonia (1 , 17)
1. Purchase	EUR 3.20	according to the Estonian securities price-list
2. Sale	EUR 3.20	according to the Estonian securities price-list
Transactions with third pillar fund units
1. Sale of inherited units	EUR 6.39	according to the Estonian securities price-list
2. Transfer of inherited units to inheritor’s security account	EUR 6.39
3. Sale of inherited units with insurance agreement	EUR 6.39
4. Sale of voluntary pension fund units on the initiative of a bailiff	EUR 3.00

Other transaction fees
Baltic Central Securities Depository and other Estonian securities
1. Securities transfer against payment with defined counterparty	EUR 3.20
2. Transfer without payment	EUR 4.80
3. Transaction between the Baltic Central Depository and foreign depository	EUR 20
4. Subscription to securities (19)	EUR 3.20
5. Confirmation of stock exchange transaction	EUR 3.20
6. Pledge registration	EUR 15
7. Transfer of pledged securities	EUR 15
Foreign securities
1. SEB Estonia internal transaction	EUR 4.80
2. Transaction with a determined counterparty	settlement fee of the respective country
3. Subscription to foreign securities (19)	settlement fee of the respective country
4. Subscription to structured bonds (19)	EUR 3.20
5. Optional corporate events (12)	settlement fee of respective country
6. Change of transaction terms/ cancellation of order (only upon agreement with the bank)	actual expenses or min. settlement fee

Other services (11, 18)
1. Participation in the general meetings of shareholders	as agreed with the bank
2. Tax Relief at source– Baltic securities	EUR 10
3. Tax Relief at source– foreign securities(18)	EUR 20 + actual fees
4. Tax reclaim - Baltic securities	EUR 20 + actual fees
5. Tax reclaimd – foreign securities (18)	EUR 100 + actual fees
6. Processing fee of the child’s special type of account	EUR 25

(1) Securities are held in the Baltic securities account
(2) Foreign bank fees exceeding the SEB Estonia transaction fee to be added.
(3) Maintenance fee is calculated once a month on the last banking day on the basis of the aggregated value of securities, kept on the securities accounts tied to one cash account. However a minimum maintenance fee as per price list is applied to an empty Baltic securities account.
When calculating the value of securities, the bank proceeds from the net asset value (NAV) of the fund unit, for bonds - from the nominal value, for traded shares - from the market value or the most recent price, known to the bank. For the rest of the securities, the bank proceeds from the par value of the security or the accounting par value of the security. If information about the par value cannot be obtained from the financial data vendor, the par value shall be deemed to be 1. The maintenance fee of the securities account and the fee for the statement shall be debited from the client’s cash account tied to the securities account once a month, the latest by the 15th day of the following calendar month.
(4) A securities account opened on behalf of a minor or an adult with restricted active legal capacity, for whom guardianship has been established, for executing securities transactions on the account of the assets of a parent or guardian, arising from the Family Law Act. A service fee as per price list shall apply when opening a Baltic securities account.
(5) Processing of securities transactions related to the child’s special type of account, which requests further analysis in order to ascertain the eligibility of transactions on the child’s special type of account (securities, obtained previously on the account of assets of the parent or guardian, securities transactions between customers, etc.) Maximum time of processing is 5 working days.
(6) For ADR (American Depositary Receipt) and GDR (Global Depositary Receipt) bonds, direct costs related to safekeeping the securities may be added, which the bank debits from the client depending on the conditions of the specific ADR or GDR either once a month, quarter, half-year or year.
(7) Baltic Central Securities Depository gives issues a securities account statement upon request of the securities account owner once a year - free of charge.
(8) For purchase transactions, generally the Stamp Duty is added, which in Great Britain is 0.5% and in Ireland 1%.
(9) For transactions with certain Polish securities (such as OTC transaction without broker), the Stamp Duty of 1% on the transaction amount may be added. The buyer of the securities shall pay the Stamp Duty and submit the required documentation directly to the tax authority in Poland.
(10) If the securities account contains both, marketable as well as non-marketable Estonian securities (excl. fund units), which are registered with Baltic Central Securities Depository, then the non-marketable securities (excl. fund units) are not included in the portfolio value and maintenance fee is charged only for the marketable securities.
(11) VAT shall be added to the service charge as per Value Added Tax Act. VAT is not added to monthly maintenance fee, if the securities account holds only the units or shares of a mutual fund stipulated in the Investment Funds Act or a mutual fund of a Member State of the European Economic Area.
(12) As regards the transaction fees for participants in optional corporate events, potential "out of pocket fees" (e.g. notary fees, transport costs) will be added, which will be divided between the participants in the corporate event pro rata to the quantity of their securities.
(13) Structured bonds, the issuers of which are credit institutions and the primary distribution of which has been introduced to the client by the Bank.
(14) Only those accounts, which contain only the securities of Estonian companies, which are either bankrupt or under liquidation, are exempt from a monthly maintenance fee, based on the information received from the Baltic Central Securities Depository. Monthly maintenance fee is not calculated, if the only securities held in the securities account throughout the entire calendar month are those, belonging to Estonian companies, which are in bankrupt or under liquidation.
(15) The commission fee rate of deals with a broker shall be calculated from the transaction amount
(16) A financial transaction tax of the respective country may be added to the transaction (e.g. 0.3% of the transaction amount in case of purchasing securities of an issuer in France).
(17) Securities are held in an intra-bank securities account.
(18) In case of specific countries, foreign securities bank may not offer prevention and refund of income tax.
(19) A additional fee may be added to the transaction pursuant to the offering documents of the respective instruments.
(20) The precondition to executing transactions with these bonds is the submission of the required tax documentation. For this, please contact the bank before making the transaction.
(21) Applies, if the account includes securities with up to five different ISIN-codes. Starting from the transfer of sixth and subsequent securities positions with a different ISIN-code, a fee for securities transaction without payment shall be added.

Shares and ETF-s

Securities transactions

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