Fee charged by brokers for executing securities transactions.

Investors pay banks and financial service companies a fee for each order placed. This fee covers order routing, processing, and settlement, as well as costs associated with operating trading desks on the exchange floor.

In Germany, commissions on stock and warrant trades, in general, amount to 1 per cent of the total price of the order; for bonds, the commission is around 0.5 per cent of the par value or the market value, whichever is higher. Investors can negotiate with their bank to receive a better deal. In some cases, the bank will stipulate a certain minimum fee.

Commissions on securities transactions on the Regulated Market are indicated explicitly on the trade confirmation. In Freiverkehr, they appear either as a mark-up (when the security is purchased) or a mark-down (when the security is sold).

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