Commission Tariffs and Rates

Brokerage Services

Market of RA securities [1]
(except for the purchase of government bonds from the primary placement auction)

Up to AMD 50 mln

0.        min AMD 5,000

AMD 50-100 mln


More than AMD 100 mln


Signing of repo/reverse repo transactions in Armenian Stock Exchange/ extension of signed transactions

0.003%*T of the transaction amount, where T is the number of calendar days between repo and reverse repo transactions

Acquisition of government bonds from the primary placement auction

Up to AMD 50 mln

0.1% min AMD 5,000

More than AMD 50 mln


Market of RF securities[2]

0.1% min AMD 3,000

Provision and service of the electronic commercial system (Quik)    

AMD 5,000 monthly

2. The following permissible minimum levels of the security volume and margin values are set for margin transactions implementation:


Limiting margin

Margin call level

Close-out level

High risk level customers

33 %

25 %

20 %

Other customers

50 %

35 %

25 %

2.1. Loan terms within the scope of the margin lending services

a).Borrowed funds usage fee (annual) %

RUB  16%
USD 12% , with securities 16%

b). Fine that is applied in case of  insufficient security of the borrowing , when there is close-out

3% of the total amount of the transaction (is charged in addition to brokerage commission fee)

3. Markets regulating derivatives [3]

Stock Exchange 

Tariff (Futures, Options) 

 < =20 agreement

> 20 agreement


 500 AMD

 400 AMD

[1] The fee includes the commissions charged by the Bank’s partner organizations
[2] Transaction’s minimum amount cannot be less than RUB 10,000.
[3] Tariffs are defined for one agreement in one direction, i.e. sale or purchase. The tariffs do not include stock exchange commissions.
In case of forced close out penalty fee is applied – 3% of the total transaction amount.