MiFID2 Costs and Charges

Pre-trade cost and charges information


This webpage provides you with information about the expected costs and charges associated with the services NatWest Markets provide to you and the financial instrument(s) traded with you. It is not marketing material or investment advice and is for information purposes only. The information is required by law pursuant to the provisions of MiFID 2 [1] and the regulator's* rules and is limited to the provision of investment services or financial instruments to you by NatWest Markets from the European Economic Area (EEA) or United Kingdom.

The range of costs and charges set out herein are based on actual costs previously incurred, unless this information is not available. Where this information is not available, we make reasonable estimations of these costs. As the expected costs and charges are only an estimate, the amount you have to pay might be different to the amounts set out herein. For clients of NatWest Markets N.V., this information is provided on the basis that where you are a Professional Client or Eligible Counterparty (as defined under MIFID 2), and that you have agreed to limited disclosure of information on costs and charges pursuant to MiFID 2 and the regulator's* rules in accordance with our Terms of Business/contractual terms.  For clients of NatWest Markets Plc, the provision of costs and charges information does not apply to Professional Clients or Eligible Counterparties.

For Retail Clients, costs and charges information will be provided by means of individual disclosure including by means of a Key Information Document pursuant to the PRIIPS regulation (which are provided either individually or by means of website priips.natwestmarkets.com) depending on product.

* Regulator's - refers to FCA when dealing with Natwest Markets Plc or AFM when dealing with Natwest Markets N.V.

[1] Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61