Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697752737237.pdf (Georgia)
Fees for Georgian Stock Exchange (GSE)* Fee Frequency Service Initial fees for admission to GSE for Resident companies Non-resident companies Monthly fees Membership fees for GSE Fee for using a single terminal at the trading floor Fee for remote access to the trading system using a single terminal Trading fees** Stock exchange trade fee for: Fixed income securities Financial instruments issued by the government and the municipalities Financial instruments issued by IFIs Equities Direct placement of securities 5 000 GEL 14 500 GEL 40 GEL 60 GEL 100 GEL 0.01% of value of the trade, but not less than 0.5 GEL 25 GEL 25 GEL 0.05% of value of the trade, but not less than 0.5 GEL 0.01% of value of the trade, but not less than 0.5 GEL Trading system fee for OTC trades (Non-cash collaterised or collaterised with securities trades) for: Fixed income securities Financial instruments issued by the government and the municipalities Financial instruments issued by IFIs Equities Direct placement of securities 0.015% of value of the trade, but not less than 0.5 GEL 25 GEL 25 GEL 0.06% of value of the trade, but not less than 0.5 GEL 0.015% of value of the trade, but not less than 0.5 GEL One-off One-off Monthly Monthly Monthly Per trade Per trade Per trade Per trade Per trade Per trade Per trade Per trade Per trade Per trade Fee for printing OTC trades on the exchange for: Equities Corporate Bonds Fixed income securities admitted on recognized stock exchanges Tender offer of securities Financial instruments issued by the government and the municipalities Financial instruments issued by IFIs REPO operations with financial instruments admitted to the trading system Admission and service fees for securities listing First listing of securities by an issuer Listing category A Listing category B Listing of new securities issued by the same issuer within a calendar year Listing category A Listing category B 3rd or more listing of securities by the same issuer within a calendar year Listing category A Listing category B Quarterly fees
 for securities listing*** First listing of securities by an issuer Listing category A 0.05% of value of trade, but not less than 0.5 GEL and not more than 25 000 GEL 0.03% of value of trade, but not less than 0.5 GEL and not more than 25 000 GEL 0.01% of value of trade, but not less than 0.5 GEL and not more than 25 000 GEL 0.1% of value of the trade, but not less than 1 GEL and not more than 50 000 GEL 25 GEL 25 GEL 100 GEL 2 500 GEL 1 500 GEL 2 000 GEL 1 000 GEL 1 000 GEL 500 GEL Per trade Per trade Per trade Per trade Per trade Per trade Per trade One-off One-off One-off One-off One-off One-off 2 500 GEL Quarterly Listing category B Listing of new securities issued by the same issuer within a calendar year Listing category A Listing category B 3rd or more listing of securities by the same issuer within a calendar year Listing category A Listing category B 1 500 GEL Quarterly 2 000 GEL 1 000 GEL 1 000 GEL 500 GEL Quarterly Quarterly Quarterly Quarterly * - Fees are VAT exclusive Payments shall be made in GEL in accordance with the exchange rate set by the National Bank of Georgia (NBG).
Payment of the invoice will be executed in accordance with the invoice issued by GSE.

If the payment is not executed by the account holder within stated period, Georgian Stock Exchange has the right to impose a fine.

** - Fees are calculated for each party to the trade.

% is calculated based on the value of the trade.

For tender offers fees are paid by the purchasing counterparty.
Maximum fee for transferring of public securities to GCSD’s beneficial ownership for the purpose of issuing GDRs locally or internationally is 25 000 GEL, maximum fee for equity contribution in-kind is 5 000 GEL.

***- Fees must be settled within 10 business days from invoice value date.

Invoice value date is the first day of the quarter.