Custody & Service Fees

As of August 1, 2012

Description Fee Notes
Account Service Fees
ACAT - Incoming FREE
ACAT - Outgoing $95.00
ACH Recalls / Reversals $30.00
ACH Returns $30.00
Certificate Safe Keeping Fee $30.00 Per quarter
E-mail Statement and Confirm Delivery Fee FREE
Foreign Securities $25.00 + Pass-through charges
Foreign Receive and Deliver Securities
        Euroclear $50.00
        All Others $75.00
HTB Fees Pass-through
Inactivity Fee (Under 15 trades per calendar Quarter) $40.00
IRA Set-Up Fee and First Year Fee $20.00
IRA Annual Fee $30.00
IRA Closing Fee $20.00
Legal Security Transfers $50.00 Per item
Limited Partnerships Annual Fee $25.00
Letter of Authorization $25.00
NSF Checks $25.00 Per check
Ordering Out via DRS (Direct Registration) $31.00
Paper Statement and Confirm Delivery Fee $1.00 Per mailing
Physical certificate processing fee for certificates over 50,000 shares $100.00
Reorganization Items
(Subscriptions, Redemptions, Tenders, Exchanges and Conversions)
$20.00 Per issue
Request DTC Transfer - Outgoing $25.00
Request For Physical Certificate (Include DTC charges) $550 + Pass-through charges
Wired Funds
        Domestic $25.00
        International $50.00
        Returned $30.00
Worthless Securities Processing TBD
Securities Processing Fees
ADR Hold Fee $0.03 Per share annually
ADR Conversion Fees (changing ADR to ODR) $25.00
Certificate Processing Fee $75.00
DRS Statement Withdrawal $30.00
DWAC and DRS Process Fee $30.00 + Transfer agent fees
ESOP Trades $125.00
Non-DTC Eligible Securities $75.00 Note 3
Non DTCC-eligible security execution fee $7.50
Non DTCC-eligible security DTC fee $80.00
Non DTCC-eligible security Deposit fee $75.00
Non DTCC-eligible security New York Window fee $34.00
Non DTCC-eligible security Transfer Agent fees Varies Ranges from $25.00 – $500.00
Options Exercise Fee $15.00
Request of Certificate for DRS eligible issue $350.00
Research Fee $25.00 Note 5
Restricted Stock Processing $125.00 Note 1
RUSH Transfer Request $575.00 Note 4
Transfership request to mail to customer $235.00 Note 2
Warrant Exercise $125.00 Note 2
Worthless Security Held $7.50 Per month per cusip
Worthless Security Reinstated $15.00 Per cusip


1 Represents the fee per cusip per deposit at the time of deposit plus all fees associated with clearing stock from client name to street name. This includes all transfer agent fees and UPS mailing fees to and from the transfer agent and DTCC. If the certificate is rejected for paperwork from the transfer agent or DTCC, the rejection fee will be charged to the client account along with any redeposit fees.

2 Additionally any wire transfer, stock processing, DWAC, UPS, or any other additional fees apply

3 Represents the fee per certificate required to satisfy a trade or to re-register from the other B/D to Penson name plus all costs from the transfer agent, DTCC NY window processing fee, and UPS to and from the transfer agent for each breakdown. The typical cost for a breakdown of shares can range from $25-$450 + depending on the number of certificates needed to satisfy the trade or number of certificates received from the other B/D.

4 Represents the fee per certificate withdrawal plus DTCC fees, UPS fees to customer, and transfer agent fees charged to Penson by DTCC.

5 Charged when a request is made to status a certificate within 10 days from receipt of completed physical stock certificate. The 10 days starts from the date sent to DTCC or transfer agent.

DayTrading Stock Broker