Type
|
Rate
|
Effect on holder
|
Detail
|
Market makers spread / Brokerage
|
0,35%
|
Pays
|
Calculated percentage based on the underlying value at the time of the trade
|
Minimum Brokerage per transaction
|
R40 + 0.08% = Maximum R49.
|
Pays
|
Flat fee per trade plus percentage, not per day
|
Rebate on total Brokerage paid in a quarter
|
10% to 25% - See below
|
Receives
|
Rebate per account if brokerage exceeds threshold for a calendar quarter
|
Position Interest – long
|
Prime Rate less 1%
|
Pays
|
Based on the market value of aggregate long positions at the end of every business day
|
Position Interest – short
|
Repo Rate less 1.5%
|
Receives
|
Based on the market value of aggregate short positions at the end of every business day
|
Script lending cost - short
|
0% - Included in interest on short
|
None
|
The cost of borrowing script for short positions is included in the position interest.
|
Interest – Initial Margin deposit
|
Repo Rate less 1.5%
|
Receives
|
Based on the amount of Initial Margin held at the beginning of each business day
|
Cash corporate events – Long position
|
Actual
|
Receives
|
Based on actual corporate event amount
|
DWT on dividend corporate events – long positions
|
15% Dividend Withholding Tax
|
Pays
|
Payment of 15% Dividend Withholding Tax to SARS
|
Cash corporate events – short positions
|
Actual
|
Pays
|
Based on actual corporate event amount
|