Schedule of Trading Conditions and Fees for Warsaw Stock Exchange Accounts as of November 2, 2015 Trading Account Fees

Fees Initial Amount of Deposit in the Trading Account*
Less than
PLN 50 000
PLN 50 000 to
PLN 500 000
PLN 500 000
Opening and Maintenance of Trading Account Free**
Depositing of Funds into Trading Account Free**
Market Data Access, monthly 5 Best Quotes PLN 80.10 for Polish accounts, PLN 100 for the rest
1 Best Quote PLN 12.4 for
Polish accounts,
PLN 20 for the rest
Free Free
Transaction in Shares & ETFs, per transaction, as % of the transaction volume 0.39%, but no less
than PLN 5
0.30%, but no less
than PLN 5
0.25%, but no
less than PLN 5
Transfer of Securities to Accounts outside Teletrade, % of the Market Value of Securities 0.5%, but no less than PLN 50
Withdrawal of Funds from Trading Account, per transfer request PLN 15**
Interest on negative cash balances / limit excesses, p.a. 10%
Issuance of paper statements, certificates, extracts etc, per 1 document PLN 30

* based on the amount of the initial deposit put into the WSE trading account after opening, without any adjustment or allowance for any subsequent additional transfers.

** doesn’t include bank fees for funds transfer and currency conversion (if applicable) that are charged from Client’s account.

TeleTrade-DJ International Consulting Ltd reserves the right to change the Fees by giving to the Client a prior five (5) Business Days written notice, which shall state the date that the amendments will start having effect and the continuation of the Client’s acceptance of the Services provided by the Company shall be deemed to be on acceptance of such amended terms by the Client.

Currency of Accounts

Client should be fully aware that trading on Warsaw Stock Exchange is conducted in Polish Złoty (PLN). All quotations and market data available via the Client’s Trading Terminal are also denominated in PLN. Therefore, the currency of the Client’s WSE trading account is also PLN. Any Client funds deposited into the WSE trading account will be converted into PLN at the current exchange rate of the servicing bank through which the depositing of Client funds take place. Such conversion is done at the Client’s expense. Applicable currency conversion rates of Bank of Cyprus can be found at: Clients are advised to check the above exchange rates before proceeding with transfer of their funds.

Applicable Rules of the Marketplace

Client is strongly encouraged to familiarize with the general Rules of Warsaw Stock Exchange and the Detailed Exchange Trading Rules in UTP System prior to commencing their trading operations. The above documents contain important and consequential details of the Exchange’s functioning that are not a subject of Operative Agreement, yet that may have substantial impact on the Client’s trading operations. The Client also has to be aware that important market communiqués may be made via the Exchange’s Alert List. Clients must maintain access to and acquaint themselves with relevant provisions of all applicable rules and regulations of the Exchange, and with any updates thereof.

Trading Days and Market Hours

Trading takes place on all days Monday to Friday - except Public holidays in Poland, which for 2015 are January 1, January 6, April 3, April 6, May 1, June 4, November 11, December 24, December 25, and December 31 – during the following hours (CEST):

Trading Session Main Market - Shares Main Market – ETFs Index, Stock and Currency Futures Interest and T-Bond Futures
Pre-opening 08:30 – 09:00 08:30 – 09:05 08:30 – 08:45 08:30 – 09:00
Opening auction 09:00 09:00 08:45 09:00
Continuous trading 09:00 – 16:50 09:00 – 16:50 08:45 – 16:50 09:00 – 17:00
Pre-closing 16:50 – 17:00 16:50 – 17:00 16:50 – 17:00 16:50 – 17:00
Closing auction 17:00 17:00 17:00 -
Post-auction trading 17:00 – 17:05 17:00 – 17:05 17:00 – 17:05 -

Market hours are subject to changes by the Exchange. Client is encouraged to periodically check the Exchange’s current time schedule available at:

TeleTrade Agreements and Policies Governing Trading at WSE

Terms and Conditions of Securities Accounts

Best Execution Policy

Client Agreement

Deposit & Withdrawals Policy for Trading on a Regulated Market

Risk Disclosure and Acknowledgement