Euro Pacific Bank

Fixed Income

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Fixed Income uses a Tiered commission structure. Commissions are calculated based on volume and any external fees are added on.

North America

USA United States – Corporate & CDs

Commissions Minimum Maximum
First USD 10,000 in Face Value 0.2%* Face Value (20 bps) 1, 2 USD 2.00 per Order N/A
Additional Face Value > USD 10,000 0.05%* Face Value (5 bps) 1, 2 None N/A

Example

USD 5,000 Face Value Order:
USD 5,000 Face Value = USD 10.00

USD 20,000 Face Value Order:
USD 20,000 Face Value = (0.2% x 10,000) + (0.05% x 10,000)
= USD 20.00 + USD 5.00
= USD 25.00

 

USA United States – Municipal Bonds

Commissions Minimum per Order Maximum per Order
First USD 10,000 in Face Value 0.1% * Face Value (10 bps) 1, 2 USD 2.00 N/A
Additional Face Value > USD 10,000 0.025% * Face Value (2.50 bps) 1, 2 None N/A

Example

USD 5,000 Face Value Order:
USD 5,000 Face Value = USD 5.00

USD 20,000 Face Value Order:
USD 20,000 Face Value = (0.1% x 10,000) + (0.025% x 10,000)
= USD 10.00 + USD 2.50
= USD 12.50

 

USA United States – Treasuries (Bills, Notes, Bonds)

Commissions Minimum per Order Maximum per Order
First USD 1,000,000 in Face Value 0.004%* Face Value (0.4 bps) 1 USD 10.00 None
Additional Face Value > USD 1,000,000 0.0002%* Face Value (0.02 bps) 1 USD 10.00 None

Example

USD 1,000,000 Face Value Order:
USD 1,000,000 Face Value = (0.004% x 1,000,000)
= USD 40.00

USD 2,000,000 Face Value Order:
USD 2,000,000 Face Value = (0.004% x 1,000,000) + (0.0002% x 1,000,000)
= USD 40.00 + USD 2.00
= USD 42.00

 

USA United States – External Fees

External fees are passed through at cost.

BondDesk IBKRATS MuniCenter NYSE Bonds

 

USA United States – Transaction Fees

Fees
FINRA Trading Activity Fee USD 0.00075 * Quantity Sold 3

 

Notes:

  1. 1 basis point=$0.0001
  2. Commissions are tiered. For example, for US corporate and muni bonds, the first 10K in face value is charged @ 0.2% and any remaining principal over 10K is charged at 0.05%.
  3. Maximum USD 0.75 per trade.

  • Value tiers are applied based on monthly cumulative trade volume summed across all stock, warrants and ETF shares. This is calculated once daily, not at the time of the trade. As such, execution reductions will start the next trading day after the threshold has been exceeded. Only shares that are traded while under the Cost Plus pricing structure will count towards the monthly volume. Share volumes for advisor, institution, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Euro Pacific’s Tiered commission models are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in Euro Pacific’s Tiered commission schedule may be greater than the costs paid by Euro Pacific to the relevant exchange, regulator, clearinghouse or third party. For example, Euro Pacific may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by Euro Pacific may be less than the rebates Euro Pacific receives from the relevant market. For example, Euro Pacific may receive enhanced rebate payments for exceeding volume thresholds on particular markets, but typically will not pass these enhancements directly to clients.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for bonds with USD 20,000 Face Value is submitted and 10,000 face value executes, then you modify the order and another 10,000 face value executes, a commission minimum where applicable would be applied to both 10,000 face value executions. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.

Europe

Commissions Minimum per Order Maximum per Order
Trade Value =< 50,000 1 0.2%* Trade Value (20 bps) EUR 4.00 N/A
Trade Value > 50,000 and 0.07%* Trade Value (7 bps) EUR 4.00 N/A
Trade Value > 5,000,000 1 0.03% * Trade Value (3 bps) EUR 4.00 N/A

 

European_Union Europe – External Fees

External fees are passed through at cost 2

Euronext Bonds

 

Notes:

  1. Trade Value = Nominal*PriceInPercent/100.

    For example:
    Nominal = EUR 8000.
    Price = 106.62 %
    Total Value = 8000*106.62/100 = 8529.60
    Commission 0.2 % = 8529.60 * 0.002 = EUR 17.06
  2. The exchange levies a charge of EUR 2.00 per order for each order over the exchange-allowed 5:1 order to execution ratio. New orders and order modifications count in the ratio, cancels do not.
    For example:
    Four orders are submitted, and each is modified one time. One execution results and the charge is EUR 6.00. The calculation is shown below:
    4 orders + 4 modifications = 8 orders compared to 1 execution, giving an order to execution ratio of 8:1.
    The difference between our order ratio of 8:1 and the exchange-allowed ratio of 5:1 is 3 (8:1 – 5:1 = 3)
    3 x EUR 2.00 = EUR 6.00

  • Value tiers are applied based on monthly cumulative trade volume summed across all stock, warrants and ETF shares. This is calculated once daily, not at the time of the trade. As such, execution reductions will start the next trading day after the threshold has been exceeded. Only shares that are traded while under the Cost Plus pricing structure will count towards the monthly volume. Share volumes for advisor, institution, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Euro Pacific’s Tiered commission models are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in Euro Pacific’s Tiered commission schedule may be greater than the costs paid by Euro Pacific to the relevant exchange, regulator, clearinghouse or third party. For example, Euro Pacific may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by Euro Pacific may be less than the rebates Euro Pacific receives from the relevant market. For example, Euro Pacific may receive enhanced rebate payments for exceeding volume thresholds on particular markets, but typically will not pass these enhancements directly to clients.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for bonds with USD 20,000 Face Value is submitted and 10,000 face value executes, then you modify the order and another 10,000 face value executes, a commission minimum where applicable would be applied to both 10,000 face value executions. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.

Asia-Pacific

Hong_Kong Hong Kong – Flat Rate 1,2

Flat Rate Minimum per Order Maximum per Order
Government Bonds 0.16%of trade value HKD 36 N/A

 

Hong_Kong Hong Kong – Cost Plus Fees

Monthly Trade Value (HKD) 3 Fee per Trade Value Minimum per Order Maximum per Order
<= 15,000,000 0.16% HKD 36.00 None
15,000,001 – 300,000,000 0.1% HKD 24.00 N/A
300,000,001 – 900,000,000 0.06% HKD 16.00 N/A
900,000,001 – 2,000,000,000 0.04% HKD 12.00 N/A
> 2,000,000,000 0.03% HKD 8.00 N/A

 

Hong_Kong Hong Kong – Exchange, Clearing and Pass-through Fees (per exchange)

Hong Kong Stock Exchange (SEHK)

 

Notes:

  1. Exchange and regulatory fees are not included.
  2. Exchange trading fees, exchange trading tariff, CCASS settlement fees, and CCASS custody fees are included. SFC transaction levy (0.003%, applies to stocks and warrants) is directly passed through to the customer.

  • Value tiers are applied based on monthly cumulative trade volume summed across all stock, warrants and ETF shares. This is calculated once daily, not at the time of the trade. As such, execution reductions will start the next trading day after the threshold has been exceeded. Only shares that are traded while under the Cost Plus pricing structure will count towards the monthly volume. Share volumes for advisor, institution, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month.
  • VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
  • Euro Pacific’s Tiered commission models are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in Euro Pacific’s Tiered commission schedule may be greater than the costs paid by Euro Pacific to the relevant exchange, regulator, clearinghouse or third party. For example, Euro Pacific may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by Euro Pacific may be less than the rebates Euro Pacific receives from the relevant market. For example, Euro Pacific may receive enhanced rebate payments for exceeding volume thresholds on particular markets, but typically will not pass these enhancements directly to clients.
  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for bonds with USD 20,000 Face Value is submitted and 10,000 face value executes, then you modify the order and another 10,000 face value executes, a commission minimum where applicable would be applied to both 10,000 face value executions. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.

Euro Pacific Trader is offered by Euro Pacific Securities Inc. (“Euro Pacific Securities”), as an Introducing Broker to Interactive Brokers LLC. Interactive Brokers LLC is the custodian, technology provider, and clearing broker to all transactions executed through Euro Pacific Trader and thus the rates, conditions, and examples shown on this site may be subject to change and differ from what is displayed on Euro Pacific Trader. The rates, conditions, and examples on this site are provided on a best-efforts basis and should not be taken as final.

Euro Pacific Securities will not be held responsible for pricing and conditional discrepancies that may arise in the normal course of offering Euro Pacific Trader. Customers should always review and rely on the conditions that are shown directly on Euro Pacific Trader, and it is the responsibility of all customers to carefully review the conditions of every action before approving execution on Euro Pacific Trader.

Interactive Brokers LLC is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations. Interactive Brokers LLC does not endorse or recommend any introducing brokers, third-party financial advisors or hedge funds, including Euro Pacific Securities. Interactive Brokers LLC provides execution and clearing services to customers. None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers LLC to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers LLC makes no representation, and assumes no liability to the accuracy or completeness of the information provided on this website.
For more information regarding Interactive Brokers, please visit www.interactivebrokers.com.