August 2013 - Monte Titoli
August 2013 - Monte Titoli
August 2013 - Monte Titoli
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<strong>August</strong> <strong>2013</strong><br />
- cost recovery fee:<br />
Fee<br />
Invoicing code<br />
SWIFT message generated by <strong>Monte</strong> <strong>Titoli</strong> in TARGET2<br />
Non-repudiation liability of 20% is included.<br />
SWIFT message generated by <strong>Monte</strong> <strong>Titoli</strong> in TARGET2 in the gross<br />
settlement system, coming from the application of mini-netting.<br />
Non-repudiation liability of 20% is included.<br />
0.2655 RE0001<br />
0.531 RE0002<br />
5.3.3 Express II penalties<br />
Penalties are applied in case one of the following events occurs: 6 :<br />
1) delay in cash settlement during the net intraday settlement cycle. The fee is composed of:<br />
- a fixed part:<br />
Frequency of delay during the year<br />
Delay (in minutes)<br />
Fee<br />
up to 15 minutes<br />
up to 30 minutes<br />
more than 30<br />
minutes<br />
Invoicing code<br />
1 500.00 2,000.00 4,000.00<br />
2 1,000.00 4,000.00 8,000.00<br />
EX0030<br />
3 and more 2,000.00 8,000.00 16,000.00<br />
- a variable part:<br />
Cash settled after the service cut-off (variable part)<br />
Fee<br />
10 bps per day, calculated on<br />
the amount of the debit cash<br />
balance settled after the cut-off<br />
Invoicing code<br />
EX0030<br />
6 For any further detail refer to the document "Settlement Discipline Operational Guidelines" available on<br />
www.montetitoli.it.<br />
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