Top Five Execution Venues - Annual Report 2018

The Markets in Financial Instruments Directive 2014/65/EU (“MiFID II”) requires investment firms who execute client orders to summarise and make public on an annual basis, for each class of financial instruments, the top five execution venues in terms of trading volumes where they executed client orders in the preceding year and information on the quality of execution obtained.

We are required to publish a separate report for each legal entity involved in transmission, or execution of client orders. Please see below reports for Smith & Williamson Investment Management LLP (“SWIM”), Smith & Williamson Investment Services Limited (“SWIS”) and NCL Investments Limited (“NCL”) for the year 2018.

The following reports have been published in accordance with technical standards as described in Commission Delegated Regulation EU/2017/576 (“RTS 28”) for all relevant financial instruments traded by SWIM, SWIS and NCL.


Equities - Shares & Depositary Receipts

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
Tick size bands 1 and 2 Retail  Download Download Report
Professional  Download
Tick size bands 3 and 4 Retail Download
Professional  Download
Tick size bands 5 and 6 Retail  Download
Professional  Download

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
Tick size bands 1 and 2 Retail  Download   Download Report
Professional  Download
Tick size bands 3 and 4 Retail  Download
Professional  Download
Tick size bands 5 and 6 Retail  Download
Professional  Download

NCL Investments Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
Tick size bands 1 and 2 Professional  Download Download Report
Tick size bands 3 and 4 Professional  Download
Tick size bands 5 and 6 Professional  Download

Debt Instruments – Bonds & Money Markets Instruments

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
Bonds Retail  Download Download Report
Professional  Download
Money Market Instruments Retail  Download
Professional  Download

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
Bonds

Retail  Download Download Report
Professional  Download
Money Market Instruments

Retail  Download
Professional  Download

NCL Investment Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
Bonds Professional  Download Download Report
Money Market Instruments Professional  Download

Interest Rate Derivatives

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Professional  Download Download Report

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Professional  Download Download Report

Currency Derivatives

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

Structured Finance Instruments

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

NCL Investments Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Professional  Download Download Report

Equity Derivatives

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

Securitized Derivatives

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

NCL Investments Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Professional  Download Download Report

 


Commodities Derivatives

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

Contracts for difference

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Professional  Download Download Report

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Professional  Download Download Report

Exchange Traded Products

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

NCL Investments Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Professional  Download Download Report

Other Instruments

Smith & Williamson Investment Management LLP

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

Smith & Williamson Investment Services Limited

Instrument Sub-type Client Type Quantative Report Qualitative Report
  Retail  Download Download Report
Professional  Download

 

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