General rules

Transaction fees are payable by the seller as well as the buyer on the basis of the total value of the transaction they engage in. For fee payment purposes, cross orders shall be deemed to constitute two transactions, a purchase and a sale.

Transaction fees are deductible from the annual trading licence fee. Transaction fees shall become due and payable whenever the amount of transaction fees payable by an Exchange Member surpass the annual trading licence fee for the given section paid by the Exchange Member.

Exchange members shall effect payment of the transaction fee by the 10th of the month following the month that said fee is payable against. The transaction value expressed in forints of the listed products traded in currencies other than the Hungarian forint is determined taking account of the official NBH Exchange Rate effective for the day of the transaction.

Transaction fees in each section

The transaction fee payable against each deal in the equities section:

  • In general, the transaction fee shall be 0.015 percent of the transaction value expressed in forints, with a minimum of HUF 70 and a maximum of HUF 45,000, where those transactions that were realized on both the buyer-side and the seller-side from one offer in a given month are considered as a single transaction when calculating the transaction fee.
  • For transactions made in the Closing Auction phase, the transaction fee shall be 0.020 percent of the transaction value expressed in forints, with a minimum of HUF 70 and a maximum of HUF 45,000, where those transactions that were realised on both the buyer-side and the seller-side from one offer in a given month are considered as a single transaction when calculating the transaction fee.
  • For transactions in Structured Products (certificates, warrants) conducted by Market Makers, the transaction fee shall be 0.015 percent of the transaction value expressed in forints, with a minimum of HUF 70 and a maximum of HUF 45,000, where those transactions that were realised on both the buyer-side and the seller-side from one offer in a given month are considered as a single transaction when calculating the transaction fee. For transactions in Structured Products (certificates, warrants) not conducted by Market Makers, the fee shall be a fixed HUF 200, where those transactions that were realised on both the buyer-side and the seller-side from one offer in a given month are considered as a single transaction when calculating the transaction fee.

The transaction fee payable against each deal in the debt securities section shall be:

  • 0.01 percent of the transaction value expressed in forints, with a minimum of HUF 50 and a maximum of HUF 2,000, where those transactions that were realized on both the buyer-side and the seller-side from one offer in a given month are considered as a single transaction when calculating the transaction fee.

The transaction fee payable against each deal in the derivatives section:

  • In the derivatives section transaction fees paid for all transactions are calculated on the basis of the contracts made. In respect of the contracts in the derivatives section, from fees paid for daytrade transactions the Budapest Stock Exchange provides 50% allowance.

Futures products

The transaction fees payable against a deal in futures products are listed in Annex 1 of Fee schedule.

The fee charged for equity and index-based futures contracts is determined on the basis of the following principles:

  • Transaction fees payable against equity and index-based futures contracts shall be reviewed on the first exchange day after June 15 and December 15. During the review, transaction fees payable against equity and index-based futures Contracts shall be calculated according to the following: the transaction fee payable against equity-based futures Contracts corresponds to 0.006 percent of the Market Value of the given Contract, while the transaction fee payable against index-based futures Contracts corresponds to 0.00375 percent of the Market Value of the given Contract.
  • During the review, the mathematical average of daily cash market closing prices of the underlying product in the month preceding the date of the review shall be taken into account for the purposes of determining the market value of the contract.
  • The transaction fees valid from the first calendar day of the month following the month of review until the last calendar day of the next review month (from January 1 to June 30, and from July 1 to December 31) shall be set by rounding the values received from the previous calculation to the nearest HUF 1.

Whenever a new equity or index-based futures product is listed and at transaction fee reviews the CEO sets the fees payable for transactions in the given product in line with the provisions in Sections 12.3.3.2 of Fee schedule.

Options Products

The transaction fees payable against a deal in options products are listed in Annex 2 of Fee schedule.

Transaction fee payable against each deal in the commodities section:

  • In the commodities section transaction fees paid for day trade transactions (opening and closing on a single given exchange day) are calculated on the basis of the contracts made.
  • In respect of the contracts in the commodities section, from fees paid for daytrade transactions – where opening and closing took place on a single given exchange day on the same position management account and it implied no cross agency deal – the Budapest Stock Exchange provides 50% allowance.
  • Transaction fees for certain products of the commodities section are included in Annex 3 of Fee schedule.