HL reply re fee changes once TUI delisted from FTSE10 Jan 2024 10:42
Hope this is useful showing difference, example currency conversion fees once listed on German exchange:
Thank you for your message.
TUI have announced that shareholders will decide on its future stock exchange listings at their annual general meeting planned for 13 February 2024.
We wouldn't be able to speculate on the impact to shareholders but would update clients with any impacts once the announcement had been made. In general terms overseas shares would be subject to additional charges when dealing.
When dealing in overseas shares denominated in foreign currency, your deals will be placed at the overseas market price and converted into sterling by a UK based market maker in line with our sterling settlement requirements. The foreign exchange rate used will be based on the prevailing interbank exchange rate.
Our standard telephone dealing commission of 1% (subject to a £20 minimum and £50 maximum) per deal will apply to telephone deals, and normal online dealing charges will apply to trades made online.
In addition to our dealing commission, an explicit tiered foreign exchange (FX) charge will be applied to the deal as follows:
Deal value FX Charge
First £5,000 1.00%
Next £5,000 0.75%
Next £10,000 0.50%
Value Over £20,000 0.25%
The charge applies to the different tiers within each deal, rather than the total value. For example, on consideration of £10,000 you’ll pay a separate FX charge of 1% on the first £5,000 and 0.75% on the next £5,000, totalling £50 + £37.50 = £87.50.
The explicit FX charge will be displayed pre-trade along with the quote for your deal.
Post trade the FX charge will be separately shown in the trade confirmation and in your contract note.
You can see the full details of the dealing charges on our website.
When receiving client deposits, transfers of foreign currency balances, dividends or monies which relate to a corporate action denominated in foreign currency, we will convert the currency to pounds sterling at the prevailing exchange rate and will apply a flat charge of 1% to the conversion.
When dividends of overseas stocks are reinvested, no FX charge is applied to the reinvestment (other than the 1% charge applied when the dividend received was converted into pounds when the dividend monies were credited to your account).
If you have any further questions, please reply by secure message from your HL account or send us an email. Please note that attachments we send will only be available to view on our website and not on the HL App.
Kind Regards,
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