sector_000 wrote: » I got a response to my query from ca@degiro.ie. They say "I can confirm if you request before the 15th there will be no charge of stamp duty or any other fee". I have just now emailed in a request to proceed with a transfer.
sk8board wrote: » Has anyone used the free transfer option and sent an email to degiro? Still waiting for a response here, but it’s holidays in fairness.
bcklschaps wrote: » There was a bigger list posted by Degiro a while back.... which included all dual listed shares ..ie. Shares listed in all European exchanges. IAG is on that list. Looks like you will need to switch your IAG from LSE to IBEX
sector_000 wrote: » Anyone got a copy of that list?? I can only see the list with the LSE / Irish dual-listed companies
jams100 wrote: » Are these just the Irish stocks effected? I'm thinking IAG and others might also be in there...IAG is on Spanish and London stock exchange I've never received any of these notifications from Degiro, strange
sector_000 wrote: » The document linked to by the DeGiro notification only listed those Irish stocks. Maybe you should call your broker & ask. Post if you learn something useful.
MrMusician18 wrote: » The notice I received from degiro said they'd do the transfer free of charge up to 15th Jan 2020. Much good that is now.
sector_000 wrote: » Regarding "Do Nothing", all DeGiro say about this option is "You are able to hold onto your shares. Due to the uncertainty around this matter, it is hard to say what could happen in the future. However, you do have the option to wait and see." However, according to the notice I received from DeGiro, they can process a transfer of the shares free of charge as long as you request that by 15-Jan-2021. After that, it's a ~€25 charge! They also say that "Depending on the product, a stamp duty of 1.5% could be applicable." Yikes! Products affected are: GLANBIA IE0000669501 EUR KINGSPAN GRP. IE0004927939 EUR KERRY GRP.'A' IE0004906560 EUR TOTAL ORD FR0000120271 EUR PERM TSB GRP IE00BWB8X525 EUR CAIRN IE00BWY4ZF18 EUR RYANAIR HLDG. IE00BYTBXV33 EUR BK. CYPRUS HLDG IE00BD5B1Y92 EUR IRISH CONTINENTAL GROUP PLC IE00BLP58571 EUR BANK OF IRELAND GROUP PLC IE00BD1RP616 EUR GLENVEAGH PROPERTIES PLC-WI IE00BD6JX574 EUR AIB GROUP IE00BF0L3536 EUR YEW GROVE REIT. IE00BDT5KP12 EUR UNIPHAR PLC IE00BJ5FQX74 EUR
Blowheads wrote: » Hefty? Any idea?
MrMusician18 wrote: » I doubt you can lose them but I wouldn't be surprised if there are hefty fees to regularize your position after Brexit
Blowheads wrote: » I got same but for a very small position. Would I be as well to sell all and move on to etoro poor something? Do nothing, I assume we cannot lose those shares?
sector_000 wrote: » Bugger.... this hasn't gone away :mad: Just got a big long notification from DeGiro. I love the 3rd option... "do nothing.... hard to say what could happen.... wait and see"!!! :eek: Looks like I better get off the LSE We are contacting you as you currently have a position on the London Stock Exchange (LSE) with a European Union (EU) ISIN that is dual-listed on another European exchange, which will be impacted when the EU trading obligation for shares (STO) takes effect as of 1 January 2021 as a result of Brexit. We have previously informed you of this trading obligation, but with this e-mail, we wish to remind you of the details of the STO and your options in regards to your position(s). Share Trading obligation for dual-listed shares Due to EU regulations, specifically the Markets in Financial Instruments Regulation (MiFIR), some products that are listed on an EU/EEA trading venue cannot be traded on a non-European (“third-country”) trading venue. As it stands, the European Commission has not yet granted the LSE an equivalence status. The STO will therefore take effect as of 1 January 2021. The European Securities and Markets Authority (ESMA) has published a statement, which goes into more detail about the STO and the products that are impacted. The list of affected products that our clients, including you, have one or more positions can be found here. Please be aware that we have closed all products within the scope of the obligation, so you can close your position until 1 January 2021 but you cannot increase it. Options for your dual-listed shares in the scope of the STO As mentioned, the trading obligation will take effect as of 1 January 2021. Below are your options for your investment(s) that are in the scope of the obligation: -Sell before 1 January 2021:Sell your shares prior to the trading obligation taking effect. The regular transaction fee as per our Fee Schedule for selling on the LSE would be incurred. -Transfer:Transfer your shares to the European equivalent exchange. If you choose this option and send an e-mail to ca@degiro.ie before 15 January 2020 requesting to transfer your shares to an EU listing, we will process the transfer free of charge. Please keep in mind that we cannot guarantee that the transfer will be successful. Additionally, a transfer can take a few days to a few weeks to complete. After 15 January 2020, it will still be possible for you to request a transfer of your shares to a European Exchange. In this case, the fees would be around €25. Depending on the product, a stamp duty of 1.5% could be applicable. -Do nothing:You are able to hold onto your shares. Due to the uncertainty around this matter, it is hard to say what could happen in the future. However, you do have the option to wait and see. If you are unsure which position(s) you have that are in the scope of the STO, you can check your portfolio within the platform while referencing the list of impacted products. If you would like to find out the European equivalent exchange that the product trades on, the best way to find out is by entering the product’s ISIN code in the search bar in the platform. As an investor, what you choose to do with your investments is entirely up to your discretion. We are an execution-only broker and therefore we are not allowed to provide advisory services of any kind. However, if you have any general questions pertaining to this matter, please feel free to contact our Service Desk. We are always happy to assist you.
MrMusician18 wrote: » I didn't do anything. I would prefer to continue to trade on the LSE as it is more liquid so am going to continue to hold. Hopefully this will be ok.
sector_000 wrote: » What did you decide to do? I'm concerned about various LSE dual-listed holdings. For now, I have left most of my dual-listed holdings intact. Speaking to DeGiro this evening they said they still have a contract with LSE... but the cust ser rep would chat to his expert colleague(s) and email me back tomorrow.
