Execution Factors. Subject to any specific instructions that we receive, we take into account a range of factors in deciding where to execute deals in order to obtain the best possible result for our clients. Our dealers and portfolio managers who place deals (referred to for this purpose collectively as dealers) will determine the relative importance of a range of sometimes conflicting factors by using their experience in the particular financial instruments and markets being traded. Generally, and specifically in the case of Retail clients, the most important factor that the dealers take into account is the price of the financial instrument being traded, along with any associated execution costs - the total consideration for the trade. The diversity of the markets, the types of instruments we trade and the kind of orders we place means that we often take into account a variety of factors in addition to the total consideration of the trade. These other factors may include speed, likelihood of execution and settlement, the size and nature of the order, market impact and any other consideration relevant to the execution of a particular order. In some markets, price volatility may mean that the timeliness of execution is a key factor, whereas in other markets or instruments that have low liquidity, it may be the mere ability to execute the trade that is a key factor. In other cases, our choice of venue may be limited (even to the fact that there may only be one platform/ market upon which we can execute orders) because of the nature of the trade. For some types of financial instruments such as over-the-counter transactions there is no formalised market or settlement infrastructure, which is particularly relevant for certain fixed income and derivative trades.
Execution Factors. In the absence of specific client instructions, when managing client orders through to execution or upon facilitation of reception and transmission of orders the Company takes all reasonable steps to achieve the best possible result for clients in a comprehensive and consistent way. The Company takes into consideration; inter alia, a combination of the following execution factors: Price Costs Size Speed Nature of the order Market conditions and variations Likelihood of Execution and Settlement Any other direct consideration relevant to the execution of the order
Execution Factors. The execution factors are any considerations relevant to the execution of the order and we will determine the relative importance of each of the factors in relation to each trade. As mentioned above the factors are: • price; • transaction costs, including fees and commissions; • speed of execution; • likelihood of execution and settlement; • size of order; • nature of order; and • other considerations relevant to the order.
Execution Factors. 3.1 In considering how we might achieve the best possible result for your order, we will take a number of factors into account, including price, costs, speed, likelihood of execution and settlement, size and nature of the order, any other considerations relevant to the execution of your order and/or any other matters that we consider relevant to the efficiency and cost effectiveness of the order and the creditworthiness and quality of the relevant counterparty.
3.2 In general, the total consideration in terms of price and execution costs are considered as the most important of the factors. However, in certain circumstances, for some instructions, instrument types or markets, other factors may be more important in ensuring the best possible result.
3.3 Where you give specific instructions for the execution of an Investment Transaction then the order will be executed in accordance with those instructions. In providing these instructions, this may prevent some of the steps described being taken when seeking to obtain the best possible result for the execution of that client order (to the extent of the instructions). The obligation to obtain best execution will be deemed to have been met in respect of the part or aspect of the order to which the instructions relate, when those instructions have been correctly carried out.
Execution Factors. In meeting our best execution obligation to you, the “Execution Factors” we may take into account are:
4.1 price;
4.2 costs;
4.3 speed of execution;
4.4 likelihood of execution and settlement;
4.5 size of order;
4.6 nature of the order (e.g. whether a market or limit order or a negotiated Transaction);
4.7 any impact your order, when and if published, may have on the market price; and any other consideration relevant to the execution of your order. The relative importance of the execution factors varies between different financial instruments. In most circumstances, price will be the most important execution factor; however, in some circumstances, in particular with reference to the execution criteria mentioned, we may determine that other execution factors have greater importance in achieving the best possible result for you. Please see the full Policy for details.
Execution Factors. The Trading Advisor will exercise its own discretion in determining the factors that the Trading Advisor needs to take into account for the purpose of providing clients with the best possible result. These execution factors in the markets in which the Trading Advisor operates will include, but are not restricted to:
i. Size, nature and characteristic of the order;
ii. Speed of execution;
iii. Price and cost of execution;
iv. Market impact;
v. Likelihood of execution and settlement;
vi. Execution risk;
vii. Any other consideration relevant to the execution of the order. Price will ordinarily merit a high relative importance in obtaining the best possible result. However, in some circumstances the Trading Advisor may appropriately determine that other execution factors are more important than price in obtaining the best possible execution result. The Trading Advisor will determine the relative importance of the execution factors by using its commercial judgment and experience in light of market information available and taking into account the execution criteria.
Execution Factors. In situations outlined above where Xxxxxx executes Client Orders and owes a duty of Best Execution, all reasonable steps will be taken to obtain the best possible execution result on a consistent basis taking into account the following Execution Factors: • price, • cost, • speed of execution, • likelihood of execution and settlement reliability, • order size, • nature of Client Order or any other consideration relevant to the execution of the Client Order. While the weighting and relevance of these factors may vary, price will ordinarily merit a high relative importance in obtaining the best possible result (‘BPR’) for a Client. Xxxxxx will give precedence to factors affording the best possible result in terms of total consideration to the client i.e. price of the financial instrument and the costs related to execution, including all expense incurred by the client which are directly related to the execution of the order and execution venue fees, clearing and settlement fees paid to third parties involved in the execution of the order, will determine best execution. However, markets, instruments and transaction types vary greatly in terms of liquidity, depth, transparency, certainty, ease and speed of execution etc. Xxxxxx may therefore take into consideration other Execution Criteria that alter the relative importance of execution elements (execution criteria other than price may assume equal or greater importance) and thereby permit Cantor the required flexibility to cater for Clients differing priorities and execute orders based on other factors that will result in Xxxxxx acting in the best interest of the client. Such criteria may include, but are not limited to: • The clients status as a retail client or a professional client; • Prevailing market conditions • Characteristics of the Client, • Characteristics and size of the Client Order, • Characteristics of the financial instruments that are subject of the Client Order, • Characteristics of the execution venues to which that Client Order can be directed; and • Whether the client has provided any specific instruction. Based on the above Execution Factors and Execution Criteria, and subject to any specific client instruction, Xxxxxx will exercise discretion, based on market experience, knowledge, commercial judgement, the relevant Security and the type of Client Order to obtain the BPR with regards to the execution of a Client Order.
Execution Factors. 2.1. FFA owes the client a duty of best execution when it execute orders on his/her behalf. In considering how the best possible result for the Client’s order might be achieved, FFA shall take a number of factors into account, including price, direct costs and indirect costs, speed, likelihood of execution and settlement arrangements, size, nature of the order, timing of a Client’s order or any other considerations that could affect decisions on when, where and how to trade.
2.2. In determining the relative importance of these factors, FFA shall use its own commercial experience and judgment, together with the size and nature of the order, the characteristics of the financial instruments to which the order relates, as well as the possible execution venues to which that order can be directed.
2.3. In general, FFA shall regard price as the most important of these factors for obtaining the best possible result. However, there may from time to time be circumstances for some clients, particular instruments or markets, where other factors may be deemed to have a higher priority.
Execution Factors. 3.1 In considering how we might achieve the best possible result for your order, we will take a number of factors into account, including price, costs, speed, likelihood of execution and settlement, size and nature of the order, any other considerations relevant to the execution of your order and/or any other matters that we consider relevant to the efficiency and cost effectiveness of the order and the creditworthiness and quality of the relevant counterparty.
3.2 In general, the total consideration in terms of price and execution costs are considered as the most important of the factors. However, in certain circumstances, for some instructions, instrument types or markets, other factors may be more important in ensuring the best possible result.
Execution Factors. IAML will, based on its experience, market judgement, the nature of the orders and the particular instruments, at all times undertake to obtain the best possible result. The following factors will be taken into account by IAML when seeking to obtain the best possible result for its clients:- ● Price; ● Costs; ● Speed of execution; ● Likelihood of execution; ● Speed of settlement; ● Likelihood of settlement; ● Size of order; ● Nature of order; and ● Any other consideration relating to the execution of the order. The relative importance of above factors will be influenced by the characteristics of the client concerned – retail or professional; any characteristics of the client order – any limitations or specific instructions; characteristics of the financial instrument – quoted on-exchange, or bespoke product; any characteristics of the venues or entities used. IAML will generally give the highest priority to total consideration. Total consideration represents the price of the financial instrument, plus any costs related to execution. Costs include all directly related to the execution of that order. However, IAML may at its discretion and in accordance with the Policy, prioritise other factors outside of price and costs that are considered more important for any given order and should be taken into account. A list of specific examples of such situations (which is not exhaustive) is set out in Appendix A.
