Well-in advance disclosure of costs and charges
ING Bank N.V. (hereafter: ING) is obliged to disclose cost and charges related to the financial instrument and the investment or ancillary services provided where (a) ING recommends or markets a specific financial instrument, or (b) ING is obliged to provide a Key Information Document (hereafter: KID) to the clients. Where ING does not recommend or market a particular financial instrument or is not obliged to provide a KID to its clients ING will only disclose the cost and charges related to the investment or ancillary services provided.
In principle, ING does not separately charges its clients for the execution of their transactions in financial instruments, unless ING specifically agreed otherwise with its clients. Consequently, ING is charging its clients with so called ‘one-off charges’ or 'all-in' prices. Please note, that the ‘one-off charges’ in the matrices below are based upon a client profile (i.e. corporate retail clients, corporate professional clients and financial institutions) with a certain volume in a particular product. The ‘one-off charges’ are determined by a number of factors, including but not limited to (a) size of transaction, (b) liquidity, (c) market conditions, (d) funding costs, (e) clearing and settlement fees, (f) market risk, (g) credit and counterparty risks and (h) operational risks. For OTC transactions the cost and charges are also influenced by the existence of a Credit Support Annex (hereafter: CSA).
ING has published the Cost & Charges disclosure which describes the ‘one-off charges’ or ‘all-in’ prices displayed in matrices covering the following cost components (a) entry cost, (b) ongoing cost and (c) exit cost. Please find a brief description of these three cost categories in the document as well.