Primary Market Fee Schedule

Fee type	Commentary	Fee
Issuing/redemption fee	BRD (Baird Rhodium Digital) Other Product issuing/redemption fees vary Physical redemption fees can incur other charges including transportation costs and minting fees if other than like for like redemption.	1.65%/.25%
Otc costs	OTC Trade Services	2.45%
Send/transfer	Wallet to Wallet Transfers	25%
Custody	BRD (Baird Rhodium Digital) All investors pay the administration fee (the fee includes administration, insurance and vault’s storage costs). Other Product issuing/redemption fees vary. The fee is the specific percent of all digital metals amounts held in the investor wallet.. The fee is calculated on a daily basis based on the number of digital metals the investor holds.	50
Listing fee	Fees (per product) related to new issuers	£65,000
Secondary market fees	Secondary Market will go live in January 2020 and offer futures, options and swaps in addition to a number more derivatives	TBA
Membership fee (Annual)	Individual Investor Member Corporate Investor Member Broker Member (Broker/Dealer) Prime Broker (+List and sponsor issuers) Issuer Member (with traded products) Custody Member	£0 £1000 £5500 £9500 £14,500 £0
Other product fees	Bespoke Coin & Bar Redemption Service Specialised Orders – Products/Collectibles