Top Five Execution Venues – Calendar Year 2017

Class of Instrument

 Commodity derivatives – Other commodities 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

Triland Metals Limited (LEI: 5493001IOPFGWZCX1K38)

 100%

 100%

 N/A

N/A

100%

 

Quality of Execution Summary – Calendar Year 2017

 

  1. Out of the execution factors of price, costs, speed, likelihood of execution and settlement, size and nature of the order and any other consideration relevant to the execution of orders, Triland Metals Limited (“TML”) generally assigned price as the most important execution factor in relative terms. Price was followed by likelihood of execution and settlement, particularly in light of liquidity considerations relevant in some of our markets. Any other execution factor was given equal relative importance when assessing the quality of execution.
  2. For a full description of any close links, conflicts of interest and/or common ownerships in relation to execution venues specified above, please refer to TML’s Conflicts of Interest Policy available at: https://www.triland.com/documents/Conflicts%20of%20Interest%20Policy%20January%202018.pdf.
  3. TML receives fees, commissions, interest and/or similar payments from its clients in respect of orders executed on the execution venue specified above. All such payments and their rates are disclosed by TML to clients at the time of account opening or subsequently in the event of any changes thereto. TML may from time to time provide or receive discounts, rebates and/or non-monetary benefits to or from one or more clients in connection with services provided to them. The specific fees and charges (and the rates thereof) payable by each client are determined on a case-by-case basis, taking into account a variety of factors and may not be the same for all clients.  
  4. No changes occurred in respect of the list of execution venues listed in TML’s order execution policy during the period to which this publication relates.
  5. TML does not execute orders for, or conduct any other with, any persons or entities that would be classified as “retail clients” under the rules of the Financial Conduct Authority (“FCA”). TML only executes orders for and conducts business with persons or entities that are classified as “professional clients” or “eligible counterparties” under the rules of the FCA. When executing orders on behalf of professional clients, TML complies with its best execution obligations under the relevant rules of the FCA. Such obligations do not apply where TML executes orders for eligible counterparties.   
  6. TML uses different data and tools to monitor and assess the quality of execution achieved when executing orders on behalf of clients. These include exception reporting by front office staff who execute orders on behalf of clients and comparing the prices of executed orders with prices prevailing on the relevant market for the relevant contracts, as published by the above execution venues and/or data tools provided by third party service providers engaged by TML. Information on quality of execution based on the foregoing data is provided to senior management on a regular basis.