Hong Kong Stock Fixed vs. Tiered Pricing Comparison Examples

		Tiered Cost	Fixed Cost
SEHK
1,000 shares * HKD 50.00 per share	IB Tiered Fee	HKD 25.00
	Exchange Fees	HKD 3.00
	Clearing Fees	HKD 2.00
	Total	HKD 30.00	HKD 40.00
SEHKNTL
1,000 shares * CNH 50 per share	IB Tiered Cost	CNH 25	CNH 40
	Exchange Handling Fee	CNH 2.44	CNH 2.44
	Exchange Security Management Fee	CNH 1.00	CNH 1.00
	Clearing Fee	CNH 2.00	CNH 2.00
	Total	CNH 30.44	CNH 45.44

Notes:

Value tiers are applied based on monthly cumulative trade volume summed across all stock, warrants and ETF shares. This is calculated once daily, not at the time of the trade. As such, execution reductions will start the next trading day after the threshold has been exceeded. Only shares that are traded while under the Tiered pricing structure will count towards the monthly volume. Share volumes for advisor, institution, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month.