Best Execution



Class of Instrument

Commodity Derivatives

 

 

 

 

Notification if <1 average trade per business day in the previous year

N

 

 

 

 

Top five execution venues ranked in terms of trading volumes (descending order)

Proportion of volume traded as a percentage of total in that class

Proportion of orders executed as percentage of total in that class

Percentage of passive orders

Percentage of aggressive orders

Percentage of directed orders

Goldman Sachs International

2018 2017
88,31% 86,82%
2018 2017
88,31% 86,82%
2018 2017
88,31% 86,82%
2018 2017
0 0
2018 2017
0 0

Schneiders Trading Associates Ltd

8,72% 7,48%
8,72% 7,48%
8,72% 7,48%
0 0
0 0

SCS Commodities Corp

2,12% 2,55%
2,12% 2,55%
2,12% 2,55%
0 0
0 0

ED&F Man Capital Markets Ltd

0,54% 1,28%
0,54% 1,28%
0,54% 1,28%
0 0
0 0

TP ICAP

0,31% 0,31%
0,31% 0,31%
0,31% 0,31%
0 0
0 0



Class of Instrument

Currency Derivatives

 

 

 

 

Notification if <1 average trade per business day in the previous year

Y

 

 

 

 

Top five execution venues ranked in terms of trading volumes (descending order)

Proportion of volume traded as a percentage of total in that class

Proportion of orders executed as percentage of total in that class

Percentage of passive orders

Percentage of aggressive orders

Percentage of directed orders

Goldman Sachs International

2018 2017
100% 100%
2018 2017
100% 100%
2018 2017
100% 100%
2018 2017
0 0
2018 2017
0 0



Class of Instrument

Equity Derivatives

 

 

 

 

Notification if <1 average trade per business day in the previous year

Y

 

 

 

 

Top five execution venues ranked in terms of trading volumes (descending order)

Proportion of volume traded as a percentage of total in that class

Proportion of orders executed as percentage of total in that class

Percentage of passive orders

Percentage of aggressive orders

Percentage of directed orders

Goldman Sachs International

2018 2017
100% 100%
2018 2017
100% 100%
2018 2017
100% 100%
2018 2017
0 0
2018 2017
0 0

 

Class of Instrument

Interest Rate Derivatives

 

 

 

 

Notification if <1 average trade per business day in the previous year

Y

 

 

 

 

Top five execution venues ranked in terms of trading volumes (descending order)

Proportion of volume traded as a percentage of total in that class

Proportion of orders executed as percentage of total in that class

Percentage of passive orders

Percentage of aggressive orders

Percentage of directed orders

Goldman Sachs International

2018 2017
100% 100%
2018 2017
100% 100%
2018 2017
100% 100%
2018 2017
0 0
2018 2017
0 0

 

During the period January 2018 - January 2019, we confirm that there are no material close links, common ownership or conflicts of interest between us and the execution venues / brokers used by the Firm. Execution venues / brokers are paid on a pre-agreed cost per transaction. We do not receive a discount on these services. We may on occasion receive short term market colour from our execution providers. All our clients are categorised as professional clients under Article 4 (1)(11) of Directive 2004/39/EC. The Firm may use broker Transaction Cost Analysis (TCA) reports and internal analysis to monitor the quality of execution against our best execution criteria. We conduct regular reviews of our chosen execution venues / brokers against our best execution policy, and may at our discretion, remove those which we believe are no longer offering us best execution.

 


 

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