FEE

PARTICULARS & RATES

1

Transaction Levy

Transaction levy shall be charged at the rate of 0.08% of the value of all equity transactions executed at an exchange for which CDSC is a central depository, as captured in the Central Depository System (CDS).

The transaction levy is payable within 14 days of the invoice, after which interest is chargeable at 5% per month above the Central Bank rate ruling at the time.

3

Depository Levy

This fee is paid by Issuers as prescribed by the Capital Markets Authority in the Central Depositories (Regulation of Central Depositories) Rules, as amended from time to time.

Currently at a rate of KShs. 150 per transaction, subject to a maximum of KShs. 5,000,000 per annum and a minimum of KShs. 50,000 per annum, invoiced quarterly.

4

Pledges & Releases

This is a fee charged to investors/account holders who pledge their shares as security for loan acquisition, and on the release of the pledge.

These two transactions (pledging and releasing) are charged KShs. 1,000 per transaction.

5

Appointment Fees

This is a fee charged to Central Depository Agents (CDAs) upon appointment as prescribed in the CDSC Operational Procedures. The fee is a one–time payment.

1. For CDAs who are members of a Securities Exchange – KShs. 20,000.

2. For CDAs who are not members of a Securities Exchange – KShs. 75,000.

Annual Subscription Fees

This is an annual fee charged to all central depository agents.

• KShs. 2,500 per calendar year per CDA.

7

Interim Statement Fees

This is a fee charged to investors/account holders upon request for an interim statement.

• KShs. 50 per page.

8

Register Correction Fee

This is a fee charged to Share registrars upon their request to correct any details of investors' accounts on any file update details earlier provided by the share registrar and updated in the Central Depository System.

• KShs. 500 per correction/certificate.

9

Security Transfer Fees

This is a fee charged to an investor/account holder upon their request to transfer their securities from one account to another, without a change in the beneficial owner.

1. KShs. 200 per transfer for own account transfers.
2. KShs. 1,000 per for own transfer between Nominee Accounts.

10

Private Transfer Fees

This is a fee charged to investors/account holders upon their request to transfer their securities from one account to another.

1. Settlement of the estate of the Deceased:

• Less than KShs. 10,000: No charge.
• Greater than KShs. 10,000: 45% of KShs. 1,500.
  2. Private Transfer by Gift:
• Less than KShs. 10,000: No charge.
• Less than KShs. 100,000: 45% of 2.1% of the value of the transaction.
• Greater than KShs. 100,000: 45% negotiable rate,  subject to a maximum of 1.5% of the value of the transaction. The transfer fee to be submitted to CDSC for private transfer, where the rate has been negotiated by the CDA, shall not go below 0.16% of the value of the transaction.

iii. Transfer, arising out of the re-organization of the share capital of a listed company, that does not result in a change of beneficial interest in such share capital. Or any other transfer that results in a change of beneficial interest in the share capital of a listed company, including any transfer under a takeover scheme, merger, or acquisition, approved by the Authority.

• 0.16% of the market value of the transaction Kshs 500 per account

11

Guarantee Fund Levy

A CDSC Guarantee Fund levy of 0.01% of the value of a transaction shall be collected by the CDA and remitted to the Guarantee Fund Trust at the same time as the transaction levy.

The Trustee of the Guarantee Fund Trust prescribes a management fee from time to time for managing the Guarantee Fund.

• 2.5% p.a. of the Fund value, invoiced quarterly.

This is a fee charged to investors/account holders upon their request to lend or borrow securities from one account to another.

i) Lending Commission & Levies 16.00% (8% to the Lending Agent, 7% to CDSC Ltd, and 1% to the Guarantee Fund) of Lending Fees and

ii) Borrowing Commission & Levies 0.55% (0.3% to the Borrowing Agent, 0.2% to CDSC Ltd, and 0.05% to the Guarantee Fund) of Borrowed Value.

iii) Cash Collateral Management Fee at 1% pa of the cash collateral.

This is a fee charged to purchasers of CDSC data.

The fee is charged as per the respective data vending contracts.  

15

Registrar Services

This is a fee charged to issuers to whom CDSC offers registrar services.

The fee is charged as per the respective registry services contracts.