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Commission Schedule
The following commission schedule
covers all orders. No additional fees are charged for specialized
orders such as market, limit, day or good until canceled (GTC).
Common Stocks
and Warrants
| Dollar Amount of Trade |
Commission Schedule |
| Under $1,500 |
$ |
29 |
+ |
2.50% |
of dollar amount |
| $1,500 - $6,000 |
$ |
57 |
+ |
0.60% |
of dollar amount |
| $6,000 - $22,000 |
$ |
75 |
+ |
0.30% |
of dollar amount |
| $22,000 - $50,000 |
$ |
97 |
+ |
0.20% |
of dollar amount |
| $50,000 - $500,000 |
$ |
147 |
+ |
0.10% |
of dollar amount |
| $500,00 and above |
$ |
247 |
+ |
0.08% |
of dollar amount |
|
| Minimum Commission: $38.00
per trade, but not less than $0.09 per share for the first
1,000 shares, plus $0.04 per share thereafter. |
|
| Maximum Commission:
$50.00 per trade for the first 100
shares plus $0.50 per share thereafter. |
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Listed Options
| Dollar Amount of Trade |
Commission Schedule |
| Under $2,000 |
$ |
28 |
+ |
1.80% |
of dollar amount |
| $2,000 - $10,000 |
$ |
48 |
+ |
0.80% |
of dollar amount |
| $10,000 - $25,000 |
$ |
72 |
+ |
0.56% |
of dollar amount |
| $25,000 and above |
$ |
125 |
+ |
0.35% |
of dollar amount |
|
| Minimum Commission: $34.00
+ $4.00 per contract |
|
| Maximum Commission:
$25.00 per contract (but not less
than $38.00) |
| **Funds must be deposited
in your brokerage account before we can accept any order to
purchase options.** |
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Corporate and Municipal Bonds
| $38.00 + $3.50 per bond
($1,000 principal amount) |
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United
States Treasury Obligations
| $60.00 or one tenth of one percent of the
face value of the security, whichever is greater. |
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Margin Loans
| Dollar Amount of Debit
Balance |
Lending Rate* |
| Under $49,999 |
Rate |
+ |
1 3/4 |
| $2,000 - $10,000 |
Rate |
+ |
1 1/4 |
| $10,000 - $25,000 |
Rate |
+ |
1 |
|
| *Clearing Firm Lending Rate
is the Brokers' Call Rate. |
Margin Requirements
| Type of Security |
Initial Margin |
Maintenance Requirement |
| Stocks Purchased In
A Margin Account |
| Listed Stocks and OTC Margin
Stocks |
| Share Price Below $3.00 |
Not Allowed |
100% |
| Share Price $3.00-$5.00 |
50% |
50% |
| Share Price $5.00 and above |
50% |
30% |
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| Bonds Purchased In
a Margin Account |
|
| Municipal Bonds: |
| G.O.'s, Minimum 7% principal |
25% |
20% |
| Revenue's, Minimum 7% principal |
35% |
30% |
|
| Corporate Bonds: |
Non-Convertible Bonds,
Minimum 7% of principal |
30% |
25% |
| Convertible Bonds |
50% |
30% |
| OTC Non-convertible bonds |
30% |
25% |
|
| U.S. Government: |
| <1 year Maturity |
2% of CMV |
1% of CMV |
| 1 year, but < 3 years Maturity |
4% |
2% |
| 3 years, but < 5 years Maturity |
6% |
3% |
| 5 years, but < 20 years to Maturity |
8% |
4% |
| 10 years, but < 20 years to Maturity |
10% |
5% |
| 20 years or > Maturity |
12% |
6% |
| ZEROs with 5 years or > |
3% of principal |
|
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$5 minimum bond |
|
| Short Sales In Margin Accounts |
| Share Price of Stock |
Initial Margin |
Maintenance Requirment |
| Below $5 |
Not Allowed |
> of $2.50/Share, or 100% |
| $5 and > |
50% |
> of $5.00/share, or 35% |
| |
|
|
| *Non-diversified accounts
may have higher requirements |
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Special Rules
| Margin accounts must maintain
a $2,000 equity balance. |
|
| No loans given
on stock priced at less than $3.00 per share. |
|
| No margin transactions in stocks valued
below $3.00 per share. |
|
| Minimum margin requirements are set by
the regulations of Federal Reserve Board of Governors, the
National Association of Security Dealers, Inc. and the New
York Stock Exchange. |
|
| For margin requirements on option trades,
contact Clarendon Securities. |
|
| Clarendon Securities reserves the right,
at its discretion, to impose higher margin requirements on
particular accounts or all accounts at any time. The foregoing
table may b subject to change without notice and actual margin
requirements may equal or exceed the applicable Federal Reserve
Regulations T, New York Stock Exchange, or National Associaton
of Securities Dealers Requirements. |
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Miscellaneous
Charges
| Confirmation; Shipping and Handling Fee |
$ |
3 |
per trade |
|
| Federal Funds Wire |
$ |
20 |
per trade |
|
| Legal Transfers |
$ |
20 |
per item |
|
| Accommodation Transfer |
$ |
15 |
per item |
|
| ACATs Transfers |
$ |
25 |
per transfer |
|
| Bond Redemption |
$ |
25 |
per item |
|
| Returned Checks |
$ |
25 |
per item |
|
| Reorganized Items, not previously held in the customer account |
$ |
25 |
per item |
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Insured Money Market Account
