Best Execution Report as at 30th April 2018

Part 1: top five entities used for the transmission or placing of client orders

Where we send investment instructions or orders on your behalf to third parties (for example, to buy or sell investment holdings), we make every effort to ensure the best possible result for our clients. This is referred to as best execution. We may transmit or place the order via a third-party platform (an online investment administration service), RSP or directly with a fund manager, to execute your order.

We’re obliged to disclose on an annual basis the top five firms that we send our client orders to. The tables(s) below relate to the period 1 May 2017 to 30 April 2018.

Class of investment Equity Shares – Placement/Transmission– Retail Clients
Notification if < 1 average trade per business day in the previous year No
Top 5 venues ranked in terms of volume (descending order)
For each row below, insert the entity name and identifier. This will be the legal entity identifier (LEI)
Proportion of volume transmitted as a percentage of total in that class Proportion of orders transmitted as percentage of total in that class
JARVIS INVESTMENT MANAGEMENT LIMITED: LEI 213800HBDYZM8J5CHJ19 83.6% 96.73%
S.P. ANGEL CORPORATE FINANCE LLP: LEI 2138009SLAM48YVX9X83 6.92% 0.73%
PERSHING SECURITIES LIMITED: LEI 549300NC3GURN0AEZU06 3.68% 0.53%
ALFA CAPITAL HOLDINGS LIMITED: LEI 549300XTCMOUXC51WZ58 1.72% 0.02%
UBS LIMITED: LEI REYPIEJN7XZHSUION355 1.36% 0.89%
Class of investment Equity Exchange-traded products– Placement/Transmission – Retail Clients
Notification if < 1 average trade per business day in the previous year Yes
Top 5 venues ranked in terms of volume (descending order)
For each row below, insert the entity name and identifier. This will be the legal entity identifier (LEI)
Proportion of volume transmitted as a percentage of total in that class Proportion of orders transmitted as percentage of total in that class
JARVIS INVESTMENT MANAGEMENT LIMITED: LEI 213800HBDYZM875CHJ19 96.77% 97.44%
INSTINET EUROPE LIMITED: LEI 213800MXAKR2LA1VBM44 3.23% 2.56%
Class of investment Debts - Bonds – Placement/Transmission – Retail Clients
Notification if < 1 average trade per business day in the previous year Yes
Top 5 venues ranked in terms of volume (descending order)
For each row below, insert the entity name and identifier. This will be the legal entity identifier (LEI)
Proportion of volume transmitted as a percentage of total in that class Proportion of orders transmitted as percentage of total in that class
NCL Investments Limited: LEI D2F0VEF263OY4T3YK397 95.22% 15.38%
FINANCIAL & GENERAL SECURITIES LIMITED: LEI 213800Q6C5QVKBJLQM93 2.04% 0.55%
JARVIS INVESTMENT MANAGEMENT LIMITED: LEI 213800HBDYZM8J5CHJ19 1.84% 45.05%
REYKER SECURITIES PLC: LEI 213800TWIOR1UEZ6WP12 0.59% 20.33%
S.P. ANGEL CORPORATE FINANCE LLP: LEI 2138009SLAM48YVX9X83 0.20% 2.75%
Class of investment Debts – Money Market Instruments – Placement/Transmission – Retail Clients
Notification if < 1 average trade per business day in the previous year Yes
Top 5 venues ranked in terms of volume (descending order)
For each row below, insert the entity name and identifier. This will be the legal entity identifier (LEI)
Proportion of volume transmitted as a percentage of total in that class Proportion of orders transmitted as percentage of total in that class
NCL Investments Limited: LEI D2F0VEF263OY4T3YK397 100% 100%

Part 2: monitoring and review

  • We operate in accordance with our best execution policy. Please ask, if you want to see a copy of our policy.
  • Under the terms of our policy, we regularly assess the third parties available to us to identify those that will enable us, on a consistent basis, to obtain the best possible result when arranging for the execution of your orders.
  • The third parties that we use, also have responsibilities in relation to best execution and client order handling. We undertake periodic monitoring to make sure that they continue to meet our requirements. This review is carried out at least annually or whenever a significant change occurs that we feel could affect our ability to continue to obtain the best possible results for our clients.