August 2013 - Monte Titoli

August 2013
8.0 Service of Collateral Management –
X-COM
The service provides the application of fees calculated on the amount of securities transferred
as collateral charged to the collateral giver.
In addition for any transfer of security (ISIN) connected with the settlement of collateral
transactions managed by the service (collateral allocation, collateral return, collateral
substitution, etc.) a fee for unmatched free of payment delivery is applied as indicated at the
section Domestic Settlement. If a participant makes use of a security settlement agent, this fee
is applied to the securities settlement agent.
8.1 Collateralized securities
The fees on collateralized securities are applied to the collateral giver and include the
matching function, the settlement and exposure information and the MT-X web based
functionalities.
The fees are calculated by applying rates expressed in basis points on annual basis, to the
monthly average balance of the securities transferred as collateral in relation to collateral
operations.
Average monthly balance is calculated as an average of the daily balances during the month
of reference.
Collateralized securities (bonds and similar securities) are evaluated at the nominal value.
For financial instruments issued in a currency different from Euro, the average balance
expressed in Euro is calculated by applying the official daily exchange rate.
Collateralized securities transferred to Bank of Italy as collateral receiver (phase 1 of the
service)
Range of average monthly balance (bn
Euro)
(from-to)
0 - 2
>2 - 5
>5 - 10
>10 - 20
>20
Basis point rates on annual basis 11
0.35
0.30
0.25
0.20
0.15
Invoicing code
XC0001
11 A discount of 50% is applied starting from phase 1 of the service till the start of phase 2
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