Top 5 Execution Venues by Volume

For completeness of disclosure we have provided links to the latest reports which sets out the top 5 trading venues they use and includes information on the volumes of business as a percentage traded with each venue for each main order type.

The RTS 28 report’s, sets out a summary of their analysis of the quality of execution obtained by using their chosen execution venues.

Raymond James:  Top 5 Execution Venue

https://www.raymondjames.uk.com/wp-content/uploads/2020/07/Top-5-Execution-Venues-2019.csv

Raymond James:  RTS 28 Report Period

https://www.raymondjames.uk.com/wp-content/uploads/2020/07/RTS-28-Report.pdf

 

AJ Bell:  RTS 28 Reporting & Top 5 Execution Venues

https://www.youinvest.co.uk/disclosures

https://www.ajbell.co.uk/sites/ajbell/files/RTS-28-reporting.xlsx

 

As an Investment firm, we are required to publish each class of financial instruments, a summary of the analysis and conclusions we draw from our detailed monitoring of the quality of execution obtained on the execution venue we have chosen. The following presents a summary prepared by Henry Spain Investment Services.

(a) an explanation of the relative importance the firm gave to the execution factors of price, costs, speed, likelihood of execution or any other consideration including qualitative factors when assessing the quality of execution;

Best execution is the requirement to take all sufficient steps to obtain the best possible result when executing transactions on your behalf. Best execution takes into account price, speed, likelihood of execution and settlement, costs, size and nature of the transaction or any other consideration relevant to the execution.

Some of these factors will have a higher priority than others and the relative importance may alter when appropriate. Precedence will vary, since certain financial instruments trade within differing conditions and alter according to the order size and available liquidity. We are happy with the trading experience that Raymond James & A J Bell has provided us with.

We are satisfied through our trading experience that these trading venues meet our best execution and order handling policy requirements. They both generally consider price, likelihood of execution and settlement and overall cost to be of foremost importance but will factor in all these components when executing a trade.

(b) a description of any close links, conflicts of interests, and common ownerships with respect to any execution venues used to execute orders.

Henry Spain Investment Services does not have any close links, conflicts of interests, and common ownerships with respect to any execution venues used to execute orders.

(c) a description of any specific arrangements with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received.

Henry Spain Investment Services does not have any specific arrangements with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received.

(d) an explanation of the factors that led to a change in the list of execution venues listed in the firm’s execution policy, if such a change occurred.

There was no change to the list of execution venues.

(e) an explanation of how order execution differs according to client categorisation, where the firm treats categories of clients differently and where it may affect the order execution arrangements.

Henry Spain Investment Services classifies all clients as Retail clients providing the highest level of protection to its clients, unless otherwise specified by the client and agreed by the firm.

(f) an explanation of whether other criteria were given precedence over immediate price and cost when executing retail client orders and how these other criteria were instrumental in delivering the best possible result in terms of the total consideration to the client.

As mentioned above we also consider likelihood of execution and settlement alongside price and cost in our Execution Policy. The dealing desks treat all clients as retails clients with the aim being to ensure the client is receiving the best overall outcome for each order executed.

Information last updated on 09/10/2020