Exchange Agreements

Important changes to Equities and Futures Products

Starting 1 August 2008, Saxo Capital Markets will make a number of changes to its equities and futures products to reflect changes in the underlying market. As of this date, new and existing clients will have to use the new Online Subscription Tool to subscribe to real-time market data. If you subscribe to real-time market data before 1 August, you will be required to re-subscribe via the new Online Subscription Tool from 1 August. Detailed descriptions to these changes can be found here. If you have any questions to these changes please contact your account manager.

Data subscriptions and fees applicable for real-time data

By default, clients have access to delayed market data on the equities and futures exchanges on which they are enabled to trade. To receive real-time market data for stock, CFD, CFD DMA or futures trading, clients will have to subscribe to the individual exchanges. Clients will incur monthly subscription fees for the data they elect to receive in real time. An Online Subscription Tool is available on the trading platform. In the tool you will find a list of available exchanges, the applicable exchange fees and you will be able to subscribe and unsubscribe to services of your choice. The exchange subscription agreements can only be submitted via the Subscription Tool. A Subscription Tool guide is available on the trading platform and here. For a list of exchange subscription fees click here

Data fee rebates for active equity trading clients – As of 1 August 2008

For equities clients that subscribe to real-time market data, Saxo Capital Markets will introduce a data fee rebate scheme where fees are rebated per exchange should clients trade the minimum number of times across both stocks and CFDs during each calendar month. Rebates are only applicable for non-professional equities clients subscribing to level-1 data. The definition of Non-Professional and Professional subscribers may vary by exchange.

NOTE: No subscription fee applies to Non-Professional and Professional subscribers of Level 1 real-time market for the Singapore Exchange (SGX-ST). Clients are still required to subscribe to SGX-ST real-time market data via the Subscription Tool.

Data fee rebate schedule

Exchange Code	Exchange	Non-professional Level 1 Data Fee	Minimum Trades for Rebate
PSE	Frankfurt Stock Exchange (Xetra)	EUR 16.00	4
EURONEXT	Euronext *	EUR 1.00	2
LSE	London Stock Exchange	GBP 4.00	2
NASDAQ	Nasdaq *	USD 1.00	2
NYSE	New York Stock Exchange	USD 1.00	2
OMX	OMX *	EUR 1.00	2
OSE	Oslo Stock Exchange	NOK 10.00	2
SGX-ST	Singapore Exchange	FREE	0
SIBE	Spanish Stock Exchange	EUR 3.00	2
SWX+VX	SWX Europe	CHF 6.00	2
VIE	Wiener Börse (Vienna Stock Exchange)	EUR 2.00	2
AMEX	American Stock Exchange	USD 1.00	2
ASX	Australian Stock Exchange	AUD 37.50	6
MIL	Milano Stock Exchange	EUR 0.50	2
WSE	Warsaw Stock Exchange	EUR 1.90	2
AT	Athens Stock Exchange	EUR 10.68	3
TYO	Tokyo Stock Exchange	JPY 111.00	2
HKEX	Hong Kong Stock Exchange	HKD 120.00	3

* Denotes multiple exchanges covered by a single agreement.
Eg. OMX = OMX Group exchanges

Professional subscribers to AMEX and NYSE Real-time market data

If you qualify as a professional subscriber according to the AMEX or NYSE you will need to manually subscribe to real-time market data by submitting the relevant exchange agreements. To subscribe to real-time market data for NYSE you will need to complete both the subscriber agreement and the Third Party Billing Addendum.

Print and complete the relevant Subscriber Agreement Forms and fax it to +65 – 6303 7808 or scan it and send it by email to exchanges@saxomarkets.com.sg.

Agreement	Exchange Name	Monthly Subscription Fee
pdf	American Stock Exchange (AMEX) - Level 1	USD 30
pdf	New York Stock Exchange (NYSE) - Level 1	USD 127,25 - 1 User ID
pdf	NYSE Third Party Billing Addendum – For Professional Subscribers Only!	USD 79,50 - 2 User IDs
		USD 58,25 - 3 User IDs
		USD 53,00 - 4 User IDs
		USD 47,75 - 5 User IDs
		USD 39,75 - 6 to 9 User IDs