1 Management fees and other expenses may be associated with
ETF investments. Please read the prospectus before investing. ETFs are
not guaranteed, their values change frequently and past performance
may not be repeated.
2 The minimum amount to carry out an investment fund
purchase transaction, through National Bank Direct Brokerage, is set
at $1,000.00 or corresponds to any other amount required by the
investment fund company, whichever is greater. Subsequent trades are
at least $500.00, or any other amount required by the investment fund
company, whichever is greater.
3 Options commission is $0 + $1.25/contract. A minimum fee
of $6.25/trade applies. The maximum fee is $19.95 when the transaction
value is less than $2,000. An option contract gives the holder the
right, but not the obligation, to buy or sell a given position in an
underlying security at a given exercise price. Contracts are for 100
shares. For transactions with an agent, a $60 fee + $1.25/contract applies.
4A fixed commission of $60 per position is applicable for
liquidating transactions to be carried out by National Bank Direct
Brokerage. The executor may carry out liquidating transactions
according to the regular commission schedule.
Commissions are billed in the same currency as the transaction.
Each partial execution of a transaction is subject to the full
commission, unless the transaction is executed in its entirety on the
same trading session. Full commission is charged on all separate
transaction performed on the same security. Additional fees may be
charged by the local securities exchange commission and/or by the
stock market and are billed in the same currency as the transaction.
When an order is placed through one of our services (e.g., a
representative) and then modified via another service (e.g., the
website), the commission is based on the higher of the two commissions
applicable. The commission charged to exercise an option is the same
as the one applicable when trading the underlying securities through a
representative. A currency conversion is required for any trade
involving a security in a currency other than that of the account in
which the trade is settled. When carrying out this conversion,
National Bank Direct Brokerage acts as principal and can earn, in
addition to the commission applicable to the transaction, revenue
based on the spread between the bid and ask rates. Borrowing fees,
which vary according to the market and without prior notice, may be
incurred when selling securities short or when carrying out any other
transaction resulting in a short position in an account. These fees
are charged directly to your account the following month in the
currency of the account, regardless of whether the position is covered
or not. Contact one of our representatives for more information
regarding these fees.
There may be situations in which National Bank Direct Brokerage
(NBDB) will receive fees or payments from third parties on
transactions it executes. Such fees and payments will not accrue to
the clients’ account and may be considered as part of NBDB’s routing
decision-making process, though this is not a sole determinant. If
such situations create a material conflict of interest, NBDB
undertakes to take the
necessary steps to identify and address
such situations fairly and reasonably, in keeping with the regulatory
obligations to which it is subject in its relationships with its
clients, and considering the best interest of its clients.
