York Securities
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YORK Commissions, Requirements, Fees
  • Stocks: Commissions for online trading of stock: $.02 per share (subject to $40 minimum).
    Call for telephone commission rates: 800-221-3154
    Most orders for exchange-listed stocks are routed directly to the primary exchange (the NYSE), not the third market.

  • Options: Our rates for online handling of options are among the most competitive in the industry: $25 + 2 per contract. Complex option orders (including naked options, spreads, and straddles) must be placed via telephone. You can feel confident that your option orders will be handled by experienced professionals. Call for telephone commission rates: 800-221-3154

  • Bonds (and Other Debt Securities): Our rates for the handling of debt security (Municipal Bonds, Corporate Bonds, Treasury Bonds, Bills and Notes) orders are among the most competitive in the industry: An initial charge of $35 + 3.75 per bond. Note that orders for these securities must be placed via telephone: 800-221-3154.

  • Mutual Funds: More than 10,000 mutual funds are available, which are divided into 3 categories:
    • Load: A front-end (or back-end) load, which is determined by the respective prospectus, is charged when purchasing (or selling) a load fund.
    • No-Load: There is a $25 commission to buy or sell a no-load fund.
    • No Transaction Fee (NTF): There is no fee to buy or sell a NTF fund, provided that a 30-day holding period (calculated from the last purchase date) has been met, otherwise a $60 early redemption charge will apply).
    Click here for complete listing of mutual funds. Note that orders for these securities must be placed via telephone: 800-221-3154.

  • Deposit Requirements: Deposits must be in cleared funds or fully paid marginable securities. See table below for more specific details...

  • Margin Requirements for Margin Approved Securities:

    Type Of Security
    Initial
    Requirement
    Maintenance
    Requirement
    Margin Approved Stocks
    Priced at $3 and above 50% x M.V. 35% x M.V.
    Priced below $3 100% x M.V. 100% x M.V.
    Short Stocks
    Priced at $5 or over 50% x M.V. Greater of $5/share or 35% x M.V.
    Priced Below $5 Cannot be Sold Short Greater of $2.50/share or 100% x M.V.
    Shorts Vs Box NA 5% x M.V.
    Margin Approved Bonds (Not marginable if price is less than $50--except Governments)
    Investment Grade Convertibles 50% x M.V. 35% x M.V.
    Investment Grade Corporate / Municipals Greater of 25% x M.V. or 20% x Face Value Same as Initial
    U.S. Governments Greater of 10% x M.V. or 3% x Face Same as Initial
    Options
    Covered Options Sale of a call cannot be in the cash amount unless the underlying security is long in the account prior to the sale.
    Naked Puts & Calls (Equity)

    (Must be done in Margin Account)

    		 The Greater of 25% of the underlying Security, less any out of the money, plus the premium,
    -OR-

    15% of the underlying security, plus the premium.    		 Same as initial.
    Naked Puts & Calls (Index) Not permitted.
    Spreads

    (Must be done in Margin account)

    		 (Debit Spread)
    100% of Debit and minimum equity of $2000.

    (Credit Spread)
    Lesser of uncovered requirement as above, or difference in strike price.

    		 Same as initial.
    • A signed margin and/or option agreement must be on file prior to first trade.
    • All margin accounts require initial equity of at least $2000.
    • Requirements apply to diversified accounts only. Concentrated accounts are subject to higher requirements, usually 50%. A concentrated account is defined as any account where one position is equal to or greater than 60% of total market value.
    • Naked call accounts require $25,000 equity over and above requirement.
    • Naked put accounts require $10,000 equity over and above requirement, not to exceed 100% of assignment costs.
    • Requirements are subject to change without notice.
  • Ancillary Fees:

    Service Fee Recurrence Definition
    Account Transfer Out $60.00 Per Account Transferred Accounts that are transferred to another financial institution.
    Account Transfer Out- Partial $25.00 Per Transferred Security, Per Broker Accounts that transfer part of their portfolio to another financial institution.
    DRS Transfer- Out $95.00 Per Stock Electronic transfer of stock over the DRS system.
    DTC Transfer- Out $25.00 Per Stock Electronic transfer of stock over the DTC system.
    DWAC Transfer- Out $50.00 Per Stock A type of electronic stock transfer.
    Accommodation Transfers (Stock Certificate Request) $75.00 Per Certificate All transfers of stock from "Street Name" to personal certificate registration and delivery. This process normally takes 3-4 weeks to complete.
    Rush Accommodation Transfer (Rush Stock Certificate Request) $300.00 Per Certificate All "rush" transfers of stock from "Street Name" to personal certificate registration and delivery. A "rush" transfer normally takes 3-4 days to complete.
    Lost Certificate Replacement $50+ insurance Per Certificate Placing a "stop" on a physical certificate requested from your brokerage account, and getting a new one reissued.
    Post Actionable Reorganizations $25.00 Per Security Issue Reorganizations in which a physical certificate is delivered for processing after offer expiration.
    Voluntary Reorganizations $25.00 Per Security Issue Reorganizations such as tender offers in which a customer is able to elect to participate.
    Legal Transfers - Standard (Rule 144 Stock Certificate Deposit) $100.00 Per Certificate Transfers/deposits requiring legal papers in addition to stock powers. Note: York Securities no longer accepts transfers or certificate deposits of knowingly restricted stock.
    Legal Transfers - Restricted (Rule 144 Stock Certificate Deposit) $200.00 Per Certificate Transfers/deposits of restricted stock requiring legal papers in addition to stock powers. Note: York Securities no longer accepts transfers or certificate deposits of knowingly restricted stock.
    Stop Payment of a Check $30.00 Per Check Stopped Placing a "stop payment" on a check written off the balance of your brokerage account.
    Wire Transfers - Domestic $25.00 Per Transfer Transfer of funds to another financial institution via Federal Wire System.
    Wire Transfers - Foreign $50.00 Per Transfer Transfer of funds to another foreign financial institution via SWIFT Wire System.
    Overnight Courier $25.00 Per Occurrence Usage of overnight courier, DHL (for check withdrawals only).
    Returned Checks / ACH $40.00 Per Occurrence Checks deposited, or ACH items, which are rejected for insufficient funds, etc.
    T-Call or Extension Mailgram $10.00 Per Event Fee charged for inadequate cash position.
    House Call / Sell Out / Buy In Mailgram $5.00 Per Event Margin Notices.
    Uneconomical Sale Processing $35.00 Per Stock Fee charged on the sale of a stock where the proceeds do not meet the commission charge.
    IRA Maintenance $50.00 Per IRA Fee charged annually in December (starting in 2005). Waived if one commissionable trade (purchase or sale of a security, in which a commission is charged) is made during the one-year period ending December 31st.
    IRA Termination $60.00 Per Account The closing or transfer of a retirement plan.
    Keogh, Profit Sharing, & MPPP Establishment Fee $45 Per Account One time fee charged to open these qualifed plan retirement accounts.
    Keogh, Profit Sharing, & MPPP Annual Maint Fee $60, $35 Per Group of Accounts The first participant is charged $60; each additional participant is charged $35 annually.
    Keogh, Profit Sharing, & MPPP Termination Fee $75 Per Account One time fee charged to close these qualifed plan retirement accounts.
    Duplicate copy of Monthly Statement or 1099 $5 Per Statement A duplicate copy of a monthly statement is $5.
    Inactive Accounts $60.00 Per Account Fee charged annually based on the one year period ending June 30. (See below for exemptions)…
    Inactivity Exemptions:
  • A trade took place in the account between July 1, 2007 and June 30, 2008 (inclusive).
  • Assets equal zero (assets are defined as market value plus money market plus cash plus margin balance).
  • The average margin balance for the past month is $2,500.00 or more.
  • The average money fund balance for the past month is $5,000.00 or more.
  • It is a DVP account.
  • It is a Valet account.
  • It is a Householding account and the aggregate of the householding accounts meets the balance requirements of either a $2,500.00 margin or $5,000.00 money market balance.
  • It a Trust account.
  • It is a Retirement (Pension or IRA) account.
  • The account was opened on or after July 1, 2007.
  • The account is currently in the ACAT process.

Copyright © 2007 York Securities, Inc. All Rights Reserved. York Securities, Inc, member FINRA / SIPC. Accounts carried by the clearing firm, Ridge Clearing & Outsourcing Solutions, Inc, member FINRA / SIPC . Additional account protection ("Excess SIPC") provided through Customer Asset Protection Company, a licensed Vermont insurer. Click here for more information.
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