RBCCM Europe
Costs & Charges
Disclosures
Ex-ante aggregated range ofcosts and charges

NOVEMBER 2023

Disclaimer
This document outlines the range of costs for the investment and/or ancillary services provided to you by RBC
Europe Limited, RBC Capital Markets (Europe) GmbH, and the London branch of Royal Bank of Canada,
together referred to as “RBCCM”.
The range of costs outlined in this document is highly dependent on a number of factors, including but not limited
to, the type of financial instrument, the cost, time, and potential risk to RBCCM, the degree of standardizationof the product or instrument, credit risk, and capital impact. While such ex-ante aggregated costs and charges
are based on actual incurred costs, you acknowledge that such estimates are not always accurate and may
therefore be subject to evaluation by RBCCM at any time. Please note that the costs set out in this document
are independent of any fees charged by third parties in relation to distribution services.
In relation to the regulatory requirement to provide annual ex-post information to clients, RBCCM applies all
relevant costs and charges at the time of execution, and no additional costs or charges are added or taken
following the transaction. RBCCM does not believe that it has, for the purposes of the relevant regulations, anongoing relationship with clients in respect of each transaction undertaken, as RBCCM only provides aninvestment service to its clients. As such, RBCCM will not provide its clients with any annual ex-post information
detailing costs and charges on the basis that such annual statement would only show a cost or charge of “zero”.
Should this situation change to the extent that the “zero” amount would no longer apply, RBCCM will review its
position to ensure it is in compliance with all relevant requirements.

i | RBCCM EUROPE COSTS & CHARGES DISCLOSURESTable of Contents
The following asset classes are covered in this document:

Commodities
Base Metals LME MM and Sieving, OTC Forwards/Swaps/Options and Financing

CreditCorporate Bonds, ABS, and RMBS

223
3

Debt Capital Markets (“DCM”)

4Equities

5Low and high touch execution

5Risk Pricing

5Foreign Exchange (“FX”)
Forwards, Swaps, and Options

66Futures

7

Global Index Linked Products (“GELP”)

8

Structured Products (Notes, Warrants, and Certificates)

8

Listed Derivatives

8

Convertible Securities (Bonds and Preferred)

8

OTC Derivatives

9High Yield

10Rates11

Government bonds and SSA

11Interest Rate Swaps, Cross Currency Swaps, and Inflation Swaps

11

Structured Rates

11

1 | RBCCM EUROPE COSTS & CHARGES DISCLOSURESCommodities
Base Metals LME MM and Sieving, OTC Forwards/Swaps/Options and Financing

Type of cost
Investment services and/or ancillary services

Percentage range (estimated lowest / highest)
0% to 2.5%

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

2 | RBCCM EUROPE COSTS & CHARGES DISCLOSURES

0% to 2.5%

CreditCorporate Bonds, ABS, Derivatives and RMBS

Type of cost

Percentage range (estimated lowest / highest)

Investment services and/or ancillary services

0%

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

0%

3 | RBCCM EUROPE COSTS & CHARGES DISCLOSURESDebt Capital Markets (“DCM”)
Type of cost
Investment services and/or ancillary services

Percentage range (estimated lowest / highest)
0% to 0.5%

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

4 | RBCCM EUROPE COSTS & CHARGES DISCLOSURES

0% to 0.5%

Equities
Low and high touch execution

Type of cost
Investment services and/or ancillary services

Percentage range (estimated lowest / highest)
0bps to 30bps

Third party payments received by RBC

0bps

Financial instruments

0bps

Total costs and charges

0bps to 30bpsRisk Pricing

Type of cost
Investment services and/or ancillary services

Percentage range (estimated lowest / highest)
4bps to 30bps

Third party payments received by RBC

0bps

Financial instruments

0bps

Total costs and charges

5 | RBCCM EUROPE COSTS & CHARGES DISCLOSURES

4bps to 30bps

Foreign Exchange (“FX”)
Forwards, Swaps, and Options

Type of cost
Investment services and/or ancillary services

Percentage range (estimated lowest / highest)
0% to 2.5%

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

6 | RBCCM EUROPE COSTS & CHARGES DISCLOSURES

0% to 2.5%

Futures
Type of cost
Investment services and/or ancillary services

Estimated Highest
Up to €5 per lot, excluding exchange fees

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

7 | RBCCM EUROPE COSTS & CHARGES DISCLOSURESUp to €5 per lot, excluding exchange feesGlobal Index Linked Products
Structured Products (Notes, Warrants, and Certificates)

Type of cost
Investment services and/or ancillary services

Percentage range (estimated lowest / highest)
0% to 3.5%

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

0% to 3.5%

Listed Derivatives

Type of cost
Investment services and/or ancillary services

Range (estimated lowest / highest)$0 to $2.5 per contract

Third party payments received by RBC

0Financial instruments

0Total costs and charges$0 to $2.5 per contract

Convertible Securities (Bonds and Preferred)Type of cost
Investment services and/or ancillary services

Percentage range (estimated lowest / highest)
0% to 3.0%

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

8 | RBCCM EUROPE COSTS & CHARGES DISCLOSURES

0% to 3.0%

OTC Derivatives

Type of cost
Investment services and/or ancillary services

Percentage range (estimated lowest / highest)
0% to 2.0%

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

9 | RBCCM EUROPE COSTS & CHARGES DISCLOSURES

0% to 2.0%

High Yield
Type of cost

Percentage range (estimated lowest / highest)

Bond Arrangement Fees

0% to 3%

Total costs and charges

0% to 3%

10 | RBCCM EUROPE COSTS & CHARGES DISCLOSURES

RatesGovernment bonds and SSA

Type of cost

Percentage range (estimated lowest / highest)

Investment services and/or ancillary services

0%

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

0%Interest Rate Swaps, Cross Currency Swaps, and Inflation Swaps

Type of cost
Investment services and/or ancillary services

Percentage range (estimated lowest / highest)
0% to 2.5%

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

0% to 2.5%

Structured Rates

Type of cost
Investment services and/or ancillary services

Percentage range (estimated lowest / highest)
0% to 5.0%

Third party payments received by RBC

0%Financial instruments

0%

Total costs and charges

11 | R B C C M E U R O P E C O S T S & C H A R G E S D I S C L O S U R E S

0% to 5.0%