During the phase that precedes the licence application to the Financial Markets Authority, TCS Depositary charges for the hours worked according to the prevailing hourly rate. The hourly rate varies according to the staff member involved and varies from € 65 to € 190 excluding VAT. The analysis phase will be carried out strictly by the most experienced and the most highly qualified staff member.
Once the licence has been obtained and TCS Depositary is in a position to actually carry out its supervisory tasks an agreement will normally be reached based on a fixed annual remuneration rate.
Other custodian and depositary functions
Here too, a fixed remuneration rate can often be agreed on. When problems arise and more work than usual has to be done, the hours worked will be charged separately.