The daily penalty will be applied for each day a position is failed. This penalty will be a percentage applied daily on the market value of the fail.
The cash will be calculated with the closing price of the security applied to the number of securities of the fail or the Loan, during the number of days between the ISD and the effective settlement date of the fail.
BME CLEARING will apply a daily administrative cost to the failed seller for each day that a position is failed.
Both, the applicable percentage and the administrative cost are published by BME CLEARING through the Circular Administrative Costs and Penalties of the Equity Segment available in Normative section of this webpage.
It applies to the buyer with cash delivery obligations, when there is a Failed Settlement due to lack of cash, for each day the Buyer Position is failed.
Daily penalty stablished is Eonia+ 200 bps. + a daily administrative cost.
It applies to the seller with securities delivery obligations, when there is a Failed Settlement due to insufficient securities, for each day the Seller Position is failed.
Daily penalty is stablished in 0.90 bps. + a daily administrative cost.
It applies to the failed seller a penalty of 10 bps plus a fixed administrative cost of 1,000 euros for each Failed Settlement Instruction to which Buy-in / Cash Settlement process is executed.