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Where we execute orders on behalf of clients, we have selected a number of execution venues that meet our criteria for delivering best execution to you. These have been selected on the basis of consistent quality of pricing, costs and liquidity and the ability to execute your order with speed and certainty, whilst managing the market impact of your order where relevant.
In meeting our obligation to take all reasonable steps to obtain on a consistent basis the best possible result for the execution of your orders, we may use one or more of the following venue types when executing an order on your behalf:
- Regulated markets;
- Multilateral Trading Facilities;
- Systematic Internalisers;
- Our own account;
- Third party investment firms and/affiliates acting as a Market Maker or other liquidity providers; and/or
- Non-EU entities performing similar functions.
We shall assess which venues within this list are likely to provide the best possible result for our clients on a product-by-product basis.
In certain financial instruments, there may only be one execution venue, and in executing a trade in such circumstances we shall presume that we have provided the best possible result in respect of these types of financial instruments.
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