European Stock Fixed vs. Tiered Pricing Comparison Examples

		Tiered Cost
		Tier 1	Tier 2	Fixed Cost
SWB
1,000 shares * 20.00 EUR per share of a DAX-listed company = 20,000 EUR	IB Tiered Commission	EUR 10.00	EUR 6.00
	Exchange Fees (fixed and variable)	EUR 10.92	EUR 10.92
	Regulatory Fee	EUR 0.01	EUR 0.01
	Total	EUR 20.93	EUR 16.93	EUR 24.00
IBIS
1,000 shares * 20.00 EUR per share = 20,000 EUR	IB Tiered Commission	EUR 10.00	EUR 6.00
	Exchange Fee	EUR 0.96	EUR 0.96
	Clearing Fees (fixed and variable)	EUR 0.18	EUR 0.18
	Regulatory Fee	EUR 0.01	EUR 0.01
	Total	EUR 11.15	EUR 7.15	EUR 20.00

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.