Tel: Fax: Web: Address: 1 Ropemaker Street London EC2Y 9HT United Kingdom
|
|
- Jacob Gardner
- 6 years ago
- Views:
Transcription
1
2 ORDER EXECUTION POLICY 1. Intrductin Trading Pint f Financial Instruments UK Limited, trading under the name XM, is a UK Investment Firm (registratin number ), regulated by the Financial Cnduct Authrity ("FCA") under license number (hereinafter the Cmpany r XM, we, us and ur )). The Cmpany s registered ffice is at Citypint Building, 1 Rpemaker Street, Lndn, EC2Y 9HT. The purpse f this dcument ( Order Executin Plicy ) is t prvide ur clients with infrmatin abut ur rder executin plicy. This dcument must be read in cnjunctin with ur Client Agreement Terms and Cnditins f Business. Yur Cnsent We are required t btain yur cnsent befre entering a relatinship with yu. By entering int ur Client Agreement/ Terms & Cnditins f Business, yu cnsent and acknwledge that the transactins in financial instruments entered with XM UK are nt cnducted n a recgnised exchange, but instead n ur trading platfrm and, therefre, yu may be expsed t greater risks than when cnducting transactins n a regulated exchange. XM UK may nt execute an rder, r we may change the pening r clsing price f an executed rder in specific cases including but nt limited t instance f a technical failure f the trading platfrm. The client agreement terms and cnditins f business and trading cnditins are established slely by the cunterparty, which is, at all times, XM UK. Yu are then nly allwed t clse an pen psitin in any given financial instrument during ur platfrm s wrking hurs, and yu can nly clse any such psitins with XM UK as yur sle cunterparty. XM UK is required t establish and implement an rder executin plicy and t prvide clients with a cpy f the executin arrangements that XM UK has t cmply with ur duty t give ur clients best executin. In ur dealings with yu, we have a duty t act hnestly, fairly and prfessinally, taking int accunt yur best interest. In relatin t rder executin, XM UK is required t take all reasnable steps t btain the best pssible result when executing client rders r transmitting rders t ther entities t execute. Ptential Cnflicts f Interest A ptential cnflict f interest is that XM UK executes all f its clients rders with its sister cmpany Trading Pint f Financial Instruments Ltd (XM Cy) under a matched principal executin mdel. Under this executin mdel, there is a direct crrelatin between the prfit/lss made by the client and prfit/lss made by XM Cy. XM Cy runs a market making desk and it hedges its expsures n a net bk basis and is the sle executin venue fr XM UK In rder t ensure that the abve ptential cnflict f interest is nt detrimental t the quality f executin ffered by XM UK, XM UK has established prcedures and cntrls in rder t effectively mnitr the quality f executin ffered by XM Cy. Please refer t Sectin 12 f this Plicy fr the prcedures established in this respect. XM UK des nt engage in any direct r indirect trading fr its wn accunt r fr ur wn benefit and therefre ur sle pririty is the trading interest f ur clients. Executin Venue XM UK s single executin venue is prvided by ur sister cmpany XM Cy. XM UK has ultimate respnsibility t ensure it is able t btain n a cnsistent basis the best pssible result fr the executin f its clients rders and t prvide versight ver the activities undertaken by XM Cy n its behalf. XM Cy executes trades in accrdance with XM UK s Order Executin Plicy.
3 XM Cy is authrised and regulated by the Cyprus Securities and Exchange Cmmissin under the license number 120/10. If yu believe that yur rder has nt been executed in line with this plicy, then yu shuld cntact XM UK at the earliest pprtunity at 2. Scpe and Services The Plicy applies t retail and prfessinal clients. This Plicy des nt apply t eligible cunterparties. This Plicy applies when executing transactins n clients behalf relating t the Financial Instruments prvided by XM UK. The Financial Instruments prvided by XM UK are derivatives f underlying financial instruments and include: CFD n currency pairs; CFD n Cmmdities CFD n Equity Indices CFD n Single Stcks CFD n Cryptcurrencies All these prducts are leveraged prducts and as such carry a high degree f risk. They are nt apprpriate fr everyne. Yu shuld nt trade with us, unless yu understand the nature f the transactin yu are entering int and the extent f yur ptential lss frm a trade. Yu must satisfy yurself that it is suitable fr yu in the light f yur circumstances, financial resurces and investment bjectives. If yu are in any dubt, yu shuld seek independent advice. Yu trade entirely at yur wn risk. 3. Executin f Client Orders XM UK ffers executin nly trading t its clients by acting as a matched principal brker and ur sister cmpany XM Cy executes all XM UK client rders n ur behalf. XM UK des nt execute client rders thrugh any ther executin venue r cunterparty. XM UK requires XM Cy, thrugh an arm s length service agreement, t implement prcesses and prcedures t evidence that it will deliver best executin in accrdance with this Plicy and regulatry requirements. 4. XM UK s Apprach t Best Executin In rder t meet ur best executin bligatin t ur clients, XM UK takes int accunt the fllwing criteria fr determining the relative imprtance f the executin factrs: the characteristics f the client including the categrisatin f the client as retail r prfessinal; the characteristics f the clients rder; and the characteristics f financial instruments that are the subject f that rder XM UK shall take all reasnable steps t btain the best pssible result fr bth its retail and prfessinal clients taking int accunt the fllwing factrs when executing Clients rders against XM UK s quted prices: a. Price and Overall Cnsideratin f Csts Highest imprtance The main way in which XM UK will ensure that yu btain best executin is by ensuring that the calculatin f ur CFD and frex bid/ask prices reflect the market price fr the underlying reference prduct t which yur transactin relates. XM UK btains its prices frm XM Cy which in turn surces a number f qutes between tp tier liquidity prviders. Our bid/ask prices will generally nt be the same as the cash price fr the underlying asset. In relatin t sme financial instruments, at the time at which yu give us an rder there may be n
4 functining r n pen market r exchange n which the reference prduct is traded. In such cases XM UK will determine a fair underlying price based n a number f factrs, fr example price mvements n assciated markets and ther market influences, including infrmatin abut XM Cy clients wn rders. Our charges may be incrprated as a mark-up r mark-dwn (the difference between the price at which XM UK takes a matched-principal psitin and the transactin executin price with yu). We may alternatively charge a cmmissin r a cmbinatin f cmmissin and mark-up r markdwn, which will be made clear t the client when placing rders with XM UK. Our charges are nt taken int accunt in determining best executin prices. Bid-Ask Spread a. Bid Ask Spread: Fr any given Financial Instrument XM UK will qute tw prices: the higher price (ASK) at which the client can buy (g lng) that Financial Instrument, and the lwer price (BID) at which the client can sell (g shrt) that Financial Instrument. The difference between the lwer and the higher price f a given Financial Instrument is the spread. Please refer t fr mre infrmatin. b. Pending Orders: Such rders as Buy Limit, Buy Stp and Stp Lss / Take prfit fr pened shrt psitin are executed at ASK price. Such rders as Sell Limit, Sell Stp and Stp Lss / Take prfit fr pened lng psitin are executed at BID price. c. Price: The price fr a given Financial Instrument is calculated by reference t the price f the relevant underlying financial instrument, which XM UK btains frm XM Cy, which in turn btains it frm external reference surces. XM UK will nt qute any price utside XM UK s peratins time (see Executin Venue abve) therefre n rders can be placed by the client during that time. b. Speed Highest imprtance Due t the levels f vlatility affecting bth price and vlume, we seek t prvide client rders with the fastest executin reasnably pssible, taking int accunt any cnditins relevant t the client rder, althugh delays may ccur. c. Likelihd f Executin Medium imprtance Given the nature f XM UK s executin arrangements, the likelihd f executin is a negligible factr during times f rderly trading. Hwever, in cases f market turmil, likelihd f executin might becme a factr that culd impact the cst f executin by causing a widening f spreads. In such cases, XM UK will aim t strike the best balance between the executin f the client rder and the cst f executin. d. Size f Order Lw imprtance We may place limits n maximum rder sizes frm time t time, and we reserve the right t decline an rder as per ur Client Agreement Terms & Cnditins f Business. We will make every effrt t fill rders irrespective f the vlumes. This hwever, may be achieved at the best available price as per the available market liquidity at the time f executin. 5. Ranking f Executin Factrs The relative ranking f the different executin factrs will be dependent upn, fr example, the nature f the Financial Instrument traded, the liquidity f the relevant market and the time f the trade. The executin factrs will be ranked fr prducts ffered by XM UK as fllws: 1. Price and verall cnsideratin f csts Highest imprtance 2. Speed f executin Highest imprtance 3. Size f rder Lw imprtance CFD n currency pairs XM Cy surces a number f qutes aggregated between tp tier liquidity prviders (and ther reputable liquidity prviders wh aggregate prices received frm tp tier banks) t cnstruct the pricing f XM UK s CFDs n currency pairs. As such, the price that XM UK ffers at any given time is cnsidered t
5 be ur best and will be autmatically updated n a rlling basis t reflect the best price available at the time f trade fr the size f yur rder. CFD n Cmmdities The price f CFD n Cmmdities is a prprietary price derived by prime liquidity prviders f XM Cy and will generally track that f the relevant underlying exchange traded market. CFD n Indices CFD n Index prices are XM Cy s prime liquidity prviders prprietary prices, which are derived frm the relevant underlying Index price, taking int accunt the cst f carry and liquidity. CFD n Single Stcks The pricing f CFD n Single Stcks prices are XM Cy s liquidity prviders prprietary prices which derived frm the relevant underlying Single Stck price, taking int accunt the cst f carry and liquidity. 6. Executin Venue Executin Venues are the entities with which the rders are placed r t which XM UK transmits rders fr executin. Fr the purpses f rders fr the Financial Instrument prvided by XM UK, XM UK acts as matched principal with the executin venue being ur sister cmpany XM Cy. Opening Hurs Operating hurs: XM UK s peratin hurs are as fllws: a. Rund - the - clck: frm UK Time (GMT) Sunday thrugh UK Time (GMT) Friday. b. Nn-wrking perids: frm UK Time (GMT) Friday thrugh UK Time (GMT) Sunday. Hlidays will be annunced thrugh the internal mail f the trading terminal supplied by XM UK. Off-exchange transactins: The client acknwledges that the transactins entered in Financial Instruments with XM UK are nt undertaken n a regulated market r a Multilateral Trading Facility, rather they are undertaken thrugh the XM UK s trading platfrm and, accrdingly, they may expse the client t greater risks than regulated exchange transactins. Therefre, XM UK may nt execute an rder, r it may change the pening (clsing) price f an rder in case f any technical failure f the trading platfrm r qute feeds in rder t reflect the prevailing market price at the pening (clsing) f the said rder. Open psitin in any given Financial Instruments can nly be clsed during the pening hurs f XM UK s trading platfrm. Yur agreement t this Plicy shall cnstitute yur prir express cnsent fr us t execute yur rders utside a Trading Venue. Matched principal executin mdel XM UK acts as matched principal with the executin venue being ur sister cmpany XM Cy. Please refer t the belw figure utlining the executin prcess f ur client rders under the matched principal executin mdel. Client Order XM UK Matched Principal Executin XM Cy Nn Dealing Desk Interventin Mdel Price Streaming frm varius Liquidity Prviders
6 7. Specific Instructin Clients will nly be able t trade using the pre-determined set f rders set ut in Sectin 8 f this Plicy. In this respect, clients will nt be able t specify any ther aspects f their rder. 8. Type f Orders The client is given the ptin t place with XM UK the fllwing rders fr executin in the fllwing ways: The client places a Market Order which is an rder instantly executed against a price that the XM UK has prvided. The client may attach t a market rder a Stp Lss and/r Take Prfit. Stp Lss is an rder t limit Client s lss, whereas Take Prfit is an rder t limit client s prfit. The client places a Pending Order, which is an rder t be executed at a later time at the price that the client specifies. XM UK will mnitr the pending rder and when the price reaches the price specified by the client, the rder will be executed at that price. The fllwing types f pending rders are available: Buy Limit (an rder t purchase a Financial Instrument at r belw a specified price), Buy Stp (an rder t buy a Financial Instrument, which is entered at a price abve the current ffering price; it is triggered when the market price tuches r ges thrugh the buy stp price), Sell Limit (an rder t sell a Financial Instrument at a specified price r better), and Sell Stp (an rder t sell a Financial Instrument when it reaches a certain price). Yu may attach t any Pending Order a Stp Lss and/r Take Prfit. A client may hld up t 200 psitins simultaneusly (cnsidered as summary f Market and Pending Orders ). This requirement applies t the ttal number f psitins held at any given time in all f yur trading accunts held with XM UK. The client may mdify an rder befre it is executed. The client has n right t change r remve Stp Lss, Take Prfit and Pending Orders if the price has reached the level f the rder executin. 9. Miscellaneus Cst Highest imprtance Fr pening a psitin in sme types f Financial Instruments the client may be required t pay cmmissin r financing fees, if applicable, the amunt f which is disclsed in the Spreads and Cnditins n the cmpany s website. a. Cmmissins/Spread: Cmmissins may be charged either in the frm f a percentage f the verall value f the trade r as fixed amunt. Please refer t fr mre infrmatin. b. Financing Fee: In the case f financing fees, the value f pened psitins in sme types f Financial Instruments is increased r reduced by a daily financing fee swap thrughut the life f the cntract. Financing fees are based n prevailing market interest rates, which may vary ver time. Details f daily financing fees applied are available under Spreads and Cnditins sectin n the XM UK s website.
7 All types f Financial Instruments ffered by XM UK, the cmmissin and financing fees are nt incrprated int the XM UK s quted price and are instead charged explicitly t the Client accunt. Symmetric Slippage Orders such as Stp Lss, Take Prfit, Buy Limit, Buy Stp, Sell Limit, Sell Stp (market rder) n Financial Instrument cntracts are executed at the specified price by the client n the first current price tuch. But under certain trading cnditins it may be impssible t execute rders (Stp Lss, Take Prfit, Buy Limit, Buy Stp, Sell Limit, Sell Stp) n any Financial Instrument cntract at the specified price. In this case XM UK will execute the rder at the first available price. This may ccur, fr example, in the fllwing cases: a. At the start f a Trading Sessin, b. During highly vlatile markets where prices may mve significantly up r dwn and away frm specified price due t news annuncements and market events c. Where there is a rapid price mvement, if the price rises r falls in ne trading sessin t such an extent that under the rules f the relevant exchange, trading is suspended r restricted, d. If there is insufficient liquidity fr the executin f the specified vlume at the specified price. XM UK strives t prvide the best pssible price t its clients, and makes every effrt and necessary arrangements t d s; hwever it may be impssible t guarantee the executin f any r all f the pending rders at the specified price. XM UK rder executin plicy ensures that whenever slippage applies n an rder this will be symmetric (i.e. may either imprve r wrsen executin price f the rder with an equal prbability and impact). XM UK uses in-huse tls t mnitr slippages n a frequent basis t ensure symmetry and fairness f slippage. XM UK shall prceed t a settlement f all transactins upn executin f such transactins. 10. Aggregatin and Split All rders received are individually executed n a back-t-back basis with ur cunterparty, XM Cy. 11. Quality f Executin Obtainable at Times f Market Stress As indicated earlier in this plicy, XM UK will, at all times, take all reasnable steps t achieve best executin fr ur clients, including during times f market stress. Hwever, sudden lsses in market liquidity r at times f market disrder r the impact f plitical r ecnmic decisins, particularly when they are unfreseeable, can have a severe impact n the quality f executin r even the ability t execute rders itself. This may make it difficult fr XM UK t deliver n a client s traditinal expectatin f the quality f executin that can be expected in nrmal market cnditins. Hwever, XM UK will cntinue, during thse difficult times, t strive t achieve the best executin we can fr ur clients and this may include the aggregatin f client rders in rder t act in the best interests f all clients cncerned. Fiduciary Duty Our cmmitment t prvide yu with best executin des nt mean the we we yu an fiduciary respnsibilities in respect f rder executin ver an abve the specific regulatry bligatins placed upn us r as may be ther cntracted between us. 12. Mnitring and Review f the Executin Plicy XM UK will mnitr n a regular basis the effectiveness f this Plicy and, in particular, its executin arrangements t identify, and where required, crrect any deficiencies.
8 In additin, XM UK will review the Plicy and its executin arrangements at least annually r when material changes ccur. XM UK will infrm its clients via and/r thrugh the cmpany s website abut any material changes t its Executin Plicy r rder executin arrangements. Review f the executin quality f XM Cy XM UK will cnduct independent mnitring f the quality f executin prvided by its cunterparty, including: The review f XM Cy s in-huse data mnitring its wn executin against the criteria set in its best executin plicy; The evaluatin f the regular and systematic reviews by XM Cy f the executin venues it utilizes t meet its wn best executin bligatins; The peridic review f the quality f XM Cy executin measured against that f ther cmparable venues. XM Cy uses autmated tls t execute client rders and in this respect XM UK is dependent n XM Cy best executin arrangements. XM Cy is receiving its prices frm varius tp tier financial institutins and aggregates thse prices in rder t prvide t its clients the best available price frm the pl f its liquidity prviders. XM Cy has established cntrls and prcedures in rder t perfrm varius quality checks prir t selecting a financial institutin with which it will wrk with fr btaining liquidity. Particularly, a three stages assessment needs t be fllwed and if ptential financial institutins fail any stage f the assessment XM Cy des nt prceed with the establishment f a business relatinship with that particular financial institutin. In additin t this, XM Cy has develped highly sphisticated in-huse tls which allw XM Cy s frntffice t mnitr its executin arrangements n a real-time basis and receive autmated alerts if any executin factr may negatively affect the cmpany s effrts fr achieving best executin. It shuld be nted that this autmated prcess means that XM Cy persnnel has neither the cntrl ver the selectin f the best available price frm the pl f the liquidity prviders nr can manually intervene in rder t alter any prices streamed t the trading platfrm. By trading with us, yu shall be taken as having agreed t the cntents f this Plicy.
Best Execution Policy. Version: July 2018
Best Executin Plicy Versin: 3.0 18 July 2018 Next Review Date: 1 Octber 2018 Cntents 1 Intrductin... 4 2 Review f plicy... 4 3 Best Executin... 4 3.1 Summary f Best Executin... 4 3.2 Delivery f Best Executin...
More informationBest Execution & Client Order Execution Policy. October P age 1 6. BE31/10/17 v1
Best Executin & Client Order Executin Plicy Octber 2017 BE31/10/17 v1 P age 1 6 Cntents 1. Backgrund... 3 2. Order placement... 3 3. Order executin factrs... 3 4. Order executin plicy... 3 5. Order executin
More informationOrder Execution Policy
Glbal Markets Order Executin Plicy State Street Bank Internatinal GmbH, Frankfurt branch State Street Bank Internatinal GmbH, Frankfurt branch ( SSB Intl. GmbH Frankfurt branch ) prvides the fllwing investment
More informationKEY PRODUCT INFORMATION DOCUMENT CONTRACT FOR DIFFERENCES (CFD) ON FX PAIRS - SPOT
KEY PRODUCT INFORMATION DOCUMENT CONTRACT FOR DIFFERENCES (CFD) ON FX PAIRS - SPOT This is nt a marketing material. This dcument prvides yu with key infrmatin abut this prduct grup. The purpse f this infrmatin
More informationOrder Execution Policy
Order Executin Plicy ( SSBTC,LB ) prvides trading services in securities lending and freign exchange derivatives within State Street Glbal Markets, a divisin f State Street Crpratin, ne f the wrld s leading
More informationMIFID Policy Client classification
MIFID Plicy Client classificatin Page 1 f 8 Cntents 1. Intrductin... 3 2. Purpse... 3 3. Client Classificatin... 5 a) Eligible cunterparties... 5 b) Prfessinal clients... 6 c) Retail clients... 8 d) Classificatin
More informationOrder Execution Policy
Order Executin Plicy ( SSB Intl. GmbH Lndn branch ) prvides trading services in securities lending, freign exchange derivatives and mney markets funds within State Street Glbal Markets, a divisin f State
More informationClearing arrangements
Rules Ntice Guidance Nte Dealer Member Rules Please distribute internally t: Internal Audit Legal and Cmpliance Operatins Regulatry Accunting Senir Management Cntact: Richard J. Crner Vice President, Member
More informationFINANCIAL SERVICES GUIDE
PART N: iinvest Securities Financial Services Guide (FSG) FINANCIAL SERVICES GUIDE DATED: Octber 2017 Cntents f this FSG This Financial Services Guide ( FSG ) is an imprtant dcument that iinvest Securities
More informationCHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF PLURALSIGHT, INC. Adopted May 3, 2018
CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF PLURALSIGHT, INC. Adpted May 3, 2018 PURPOSE The purpse f the Cmpensatin Cmmittee (the Cmpensatin Cmmittee ) f the Bard f Directrs (the
More informationThe Company is a public company incorporated in Bermuda and its securities are listed on AIM.
(Incrprated in Bermuda Registratin N. 44512) POLICY FOR TRADING IN COMPANY SECURITIES The Cmpany is a public cmpany incrprated in Bermuda and its securities are listed n AIM. Schedule 1 t this Plicy cntains
More informationOverview of Statements of Investment Policies and Procedures (SIPP) Requirements
Financial Services Cmmissin f Ontari Cmmissin des services financiers de l Ontari SECTION: INDEX NO.: TITLE: APPROVED BY: PUBLISHED: Investment Guidance Ntes IGN-005 Overview f Statements f Investment
More informationTASSAL GROUP LIMITED ABN Procedures for the Oversight and Management of Material Business Risks. (Approved by the Board 28 May 2015)
Prcedures fr the Oversight and Management f Material Business Risks TASSAL GROUP LIMITED ABN 15 106 067 270 Prcedures fr the Oversight and Management f Material Business Risks (Apprved by the Bard 28 May
More informationClient Categorisation
INTRODUCTION ATC BROKERS LIMITED ( ATC ) ensures that clients are apprpriately categrised, prir t ding business with them, in rder t ensure that regulatry prtectins are fcused n thse classes f client that
More informationPershing Financial Services Guide (FSG) including its Privacy Policy
Pershing Financial Services Guide (FSG) including its Privacy Plicy Issued by Pershing Securities Australia Pty Ltd ABN 60 136 184 962 Australian Financial Services License N. 338 264 Date FSG was prepared:
More informationMIFID Policy Client classification & Best execution
MIFID Plicy Client classificatin & Best executin Status: APPROVED Type f Dcument: Plicy Versin: v1.0 Versin N Revisin Date Validatin due date Cmment Next review latest due date 1.0 June 2015 June 2015
More informationRTS 28 Quality of Execution Annual Report
Firm: Brevan Hward Asset Management LLP ( BHAM r the Firm ) Calendar Year Disclsure Perid: 1 January 2017 t 31 December 2017 Date: 30 April 2018 RTS 28 Quality f Executin Annual Reprt Summary f classes
More informationCAREVEST MORTGAGE INVESTMENT CORPORATION Directions for Completing Retraction Requests
This package is ONLY fr Class A sharehlders f. Cntents f this package (5 pages): - Instructins fr cmpleting yur retractin request - Retractin Request frm fr CareVest Mrtgage Investment Crpratin The February
More informationMiFID Supervisory Briefing Suitability
MiFID Supervisry Briefing Suitability 19 December 2012 ESMA/2012/850 Date: 19 December 2012 ESMA/2012/850 I. Backgrund 1. ESMA is required t play an active rle in building a cmmn supervisry culture by
More informationTerms and Conditions 19 December 2018
Stck and Shares Lifetime ISA (Prperty Saver) Terms and Cnditins 19 December 2018 These Terms, tgether with the Applicatin Frm, frm a legal agreement between yu and us which sets ut hw the Lifetime ISA
More informationMAS PROPOSES NEW REGULATORY FRAMEWORK FOR OTC DERIVATIVES
FEBRUARY 2012 1 MAS PROPOSES NEW REGULATORY FRAMEWORK FOR OTC DERIVATIVES On 13 February 2012, the Mnetary Authrity f Singapre ( MAS ) issued tw cnsultatin papers: Cnsultatin Paper n Transfer f Regulatry
More informationInternational Standard on Auditing (Ireland) 265. Communicating Deficiencies in Internal Control to Those Charged with Governance and Management
Internatinal Standard n Auditing (Ireland) 265 Cmmunicating Deficiencies in Internal Cntrl t Thse Charged with Gvernance and Management MISSION T cntribute t Ireland having a strng regulatry envirnment
More informationUnderstanding Self Managed Superannuation Funds
Understanding Self Managed Superannuatin Funds Hw t read this dcument Managing yur finances t meet yur day t day requirements as well as yur lng-term gals can be a cmplex task. There are all srts f issues
More informationTERMS AND CONDITIONS FOR APPOINTMENT OF INDEPENDENT DIRECTOR
TERMS AND CONDITIONS FOR APPOINTMENT OF INDEPENDENT DIRECTOR 1 PRIVATE & CONFIDENTIAL Date: T, Independent Directrs, Subject: Appintment as an Independent Directr InfBeans Technlgies Limited Dear Sir/Madam,
More informationLMA GUIDANCE: GDPR CORE USES INFORMATION NOTICE
LMA GUIDANCE: GDPR CORE USES INFORMATION NOTICE FEBRUARY 2018 NOTE: This guidance and the Lndn Market Cre Uses Infrmatin Ntice will be updated when the UK Data Prtectin Bill is enacted the Bill currently
More informationPRODUCT HIGHLIGHTS SHEET
Prepared n: 03/07/18 This Prduct Highlights Sheet is an imprtant dcument. It highlights the key terms and risks f the Aberdeen Glbal Select Emerging Markets Bnd Fund (the Fund ) and cmplements the Singapre
More informationInternational Standard on Auditing (UK) 265
Standard Audit and Assurance Financial Reprting Cuncil June 2016 Internatinal Standard n Auditing (UK) 265 Cmmunicating Defi ciencies in Internal Cntrl t Thse Charged With Gvernance and Management The
More information3. What do you need to do to take holiday or carry forward holiday prevented by sickness absence? 6. Appendix 1 Annual Leave Entitlement 7
Hliday Plicy 1 Cntents HOLIDAY POLICY 1. What des this plicy cver? 3 2. When des this plicy apply? 3 2.1 What annual hliday are yu entitled t? 3 2.2 Hw is annual leave apprved? 3 2.3 What Public Hlidays
More informationInvestor s Guide to Exchange Traded Funds.
Investr s Guide t Exchange Traded Funds. Investment Strategies Risk Management 1.877.622.5552 www.firsttrust.ca ETFs Exchange-Traded Funds (ETFs) prvide an efficient and simple way t invest in wrldwide
More informationGuidelines and Recommendations Guidelines on periodic information to be submitted to ESMA by Credit Rating Agencies
Guidelines and Recmmendatins Guidelines n peridic infrmatin t be submitted t ESMA by Credit Rating Agencies 23 June 2015 ESMA/2015/609 Table f Cntents 1 Scpe... 3 2 Definitins... 3 3 Purpse f Guidelines...
More informationSEC Adopts Rules to Enhance Order Handling Information Available to Investors
Alert SEC Adpts Rules t Enhance Order Handling Infrmatin Available t Investrs December 14, 2018 On Nv. 2, 2018, the U.S. Securities and Exchange Cmmissin adpted amendments ( Amendments ) t Rule 606 f the
More informationRegulatory Circular RG15-138
Regulatry Circular RG15-138 Date: Octber 2, 2015 T: Trading Permit Hlders and Clearing Trading Permit Hlders Frm: Regulatry Divisin RE: Prduct Descriptin and Margin and Net Capital Requirements - Weekly
More informationWorkers Pension Trust
Wrkers Pensin Trust YEAR ENDED 31 OCTOBER 2016 CHAIRMAN S ANNUAL STATEMENT REGARDING DC GOVERNANCE This statement is prduced pursuant t Regulatin 17 f the Occupatinal Pensin Schemes (Charges and Gvernance)
More informationTERMS OF REFERENCE FOR THE PROVISION OF OUTSOURCED INTERNAL AUDIT SERVICE
W&RSETA Standard Bidding Dcuments Terms f Reference TERMS OF REFERENCE FOR THE PROVISION OF OUTSOURCED INTERNAL AUDIT SERVICE 1 W&RSETA Standard Bidding Dcuments Terms f Reference 1. BACKGROUND TO W&RSETA
More informationIA POSITION PAPER ON LAST LOOK
IA POSITION PAPER ON LAST LOOK The Investment Assciatin ( the IA ) represents UK investment managers and has ver 220 members wh cllectively manage mre than 6.9 trillin f behalf f clients in the UK and
More informationApproval Process and Arrangements for University Consultancy Work
Apprval Prcess and Arrangements fr University Cnsultancy Wrk 1 Intrductin Cnsultancy activities can be separated int tw types: thse undertaken in City s name (University cnsultancy) and thse undertaken
More informationVIVINT SOLAR, INC. COMPENSATION COMMITTEE CHARTER. (Adopted as of May 9, 2014)
VIVINT SOLAR, INC. COMPENSATION COMMITTEE CHARTER (Adpted as f May 9, 2014) PURPOSE The purpse f the Cmpensatin Cmmittee (the Cmmittee ) f the Bard f Directrs (the Bard ) f Vivint Slar, Inc. (the Cmpany
More information16-18Co(17)97 Appendix 2. Panel Consideration Practice Statement. Introduction. This document has been produced to:
16-18C(17)97 Appendix 2 Panel Cnsideratin Practice Statement Intrductin This dcument has been prduced t: Supprt the cnsistent cnsideratin f fitness t teach cnduct cases by Panels in line with the GTCS
More informationGENERAL RISK DISCLOSURE
GENERAL RISK DISCLOSURE This ntice prvides yu with infrmatin abut the risks assciated with investment prducts, which yu may invest in thrugh services prvided t yu by etr Grup entities. etr prvides a wide
More informationCHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF ON DECK CAPITAL, INC.
CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF ON DECK CAPITAL, INC. (Adpted n September 15, 2014, amended thrugh July 29, 2016) PURPOSE The purpse f the Cmpensatin Cmmittee f the Bard
More informationTHE CLOROX COMPANY AUDIT COMMITTEE CHARTER. [Effective May 8, 2017]
THE CLOROX COMPANY AUDIT COMMITTEE CHARTER [Effective May 8, 2017] PURPOSE AND AUTHORITY The Audit Cmmittee ( Cmmittee ) is established by the Bard f Directrs ( Bard ) fr the purpses f: 1. Representing
More informationAre you ready for the FUTURE of your Quality Management system?
1 Are yu ready fr the FUTURE f yur Quality Management system? BACKGROUND Quality Management System standard, ISO 9001 has made sme majr changes released in September 2015. Organizatins are studying and
More informationNCTJ Conflicts of Interest Policy and Procedures
NCTJ Cnflicts f Interest Plicy and Prcedures Purpse This plicy aims t draw attentin t the pssibility f cnflicts, minimise r prevent a cnflict ccurring and manage cnflicts that have arisen. Definitin f
More informationGenerator Expectations During a Gas Curtailment or Operational Flow Order (OFO) User s Guide
Generatr Expectatins During a Gas Curtailment r Operatinal Flw Order (OFO) User s Guide Intrductin: On days when gas system reliability culd be at risk, the Lcal Distributin Cmpany (LDC), interstate r
More informationCHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF DROPBOX, INC.
CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF DROPBOX, INC. (Adpted n February 22, 2018, Effective upn the effectiveness f the registratin statement relating t the Cmpany s initial
More informationProducer Statements will be accepted only in accordance with this policy.
Prducer Statements Plicy This plicy has been prepared t ensure that Cuncil has clearly dcumented plicies and prcedures fr the request fr and acceptance f Prducer Statements in cnnectin with applicatins
More informationMiFID Supervisory Briefing Appropriateness and execution-only
MiFID Supervisry Briefing Apprpriateness and executin-nly 19 December 2012 ESMA/2012/851 Date: 19 December 2012 ESMA/2012/851 I. Backgrund 1. ESMA is required t play an active rle in building a cmmn supervisry
More informationPRODUCT HIGHLIGHTS SHEET
Prepared n: 03/07/18 This Prduct Highlights Sheet is an imprtant dcument. It highlights the key terms and risks f the Aberdeen Glbal Australian Dllar Incme Bnd Fund (the Fund ) and cmplements the Singapre
More informationNANOSTRING TECHNOLOGIES, INC. COMPENSATION COMMITTEE CHARTER. (Adopted as of October 16, 2012 and amended as of April 26, 2017)
NANOSTRING TECHNOLOGIES, INC. COMPENSATION COMMITTEE CHARTER (Adpted as f Octber 16, 2012 and amended as f April 26, 2017) PURPOSE The purpse f the Cmpensatin Cmmittee (the Cmmittee ) f the Bard f Directrs
More informationSirtex Medical Limited Senior Executive Short Term Incentive Policy and Procedure
Sirtex Medical Limited Senir Executive Shrt Term Incentive Plicy and Prcedure 1 Sirtex Medical Limited Shrt Term Incentive 1 Plicy 1.1 Purpse The primary purpse f the shrt term incentive (STI) is t acknwledge
More informationFlexible Working Policy
Our HR Plicies Flexible Wrking Plicy Aim f the plicy The Kelda Grup is cmmitted t prmting flexibility in the wrkplace and believes that this flexibility can increase mtivatin, prmte wrk-life balance, wellbeing
More informationHUMAN RESOURCES AND COMPENSATION COMMITTEE CHARTER
HUMAN RESOURCES AND COMPENSATION COMMITTEE CHARTER PURPOSE The Human Resurces and Cmpensatin Cmmittee (the Cmmittee ) f Precisin Drilling Crpratin (the Crpratin ) is a standing cmmittee f the bard f directrs
More informationRisk Management Policy
Risk Management Plicy 1. Purpse The purpse f this plicy is t prvide clear guidelines fr the management f risk. Risk is defined as the effect f uncertainty n bjectives. 1 Risk Management is the discipline
More informationAudit & Risk Committee Charter
Audit & Risk Cmmittee Charter AUDIT & RISK COMMITTEE CHARTER The Audit & Risk Cmmittee has been established by reslutin f the Bard f Macmahn Hldings Limited ( Macmahn r the Cmpany ). Membership The Audit
More informationConsumer Buy to Let Mortgage
Cnsumer Buy t Let Mrtgage What is it? Cnsumer buy-t-let (CBTL) mrtgages are any buy-t-let cntracts that are nt entered int by an individual whlly r predminantly fr the purpse f a business. They are usually
More informationInternal Control Requirements for Adopting New Accounting Standards
Internal Cntrl Requirements fr Adpting New Accunting Standards Backgrund In previus articles, BKD discussed the U.S. Securities and Exchange Cmmissin s (SEC) expectatins regarding the requirement t disclse
More informationThe UK Register of Trusts 21 December 2017
The UK Register f Trusts 21 December 2017 If yu are a trustee f a UK resident trust r f a nn-resident trust which has UK assets r UK surce incme yu may need t take actin befre 5 January 2018. Backgrund
More informationAudit and Risk Management Committee Charter
Audit and Risk Management Cmmittee Charter Pivtal Systems Crpratin ("Cmpany") 1. Objectives The Audit and Risk Management Cmmittee (Cmmittee) has been established by the bard f directrs (Bard) f the Cmpany.
More informationAcademic and Administrative and Other Related Staff Annual Review
Academic and Administrative and Other Related Staff Annual Review Intrductin Heads f Cllege/Budget Centre (r nminated representative) have the pprtunity t cnsider and t make the fllwing recmmendatins fr
More informationThis financial planning agreement (the Agreement ) is made on this date: between the undersigned party, whose mailing address is
F I N A N C I A L P L A N N I N G A G R E E M E N T This financial planning agreement (the Agreement ) is made n this date: between the undersigned party, CLIENT(s): whse mailing address is (hereinafter
More informationDATA PROTECTION POLICY FOR PUPILS AND PARENTS
DATA PROTECTION POLICY FOR PUPILS AND PARENTS This Plicy is relevant t the whle schl including EYFS Cntents 1.0 Intrductin 2.0 Respnsibility fr data prtectin 3.0 Types f persnal data prcessed by the schl
More informationPROFICIENCY STANDARD FOR APPROVED PERSONS SELLING EXCHANGE TRADED FUNDS ( ETFs )
MFDA POLICY NO. 8 PROFICIENCY STANDARD FOR APPROVED PERSONS SELLING EXCHANGE TRADED FUNDS ( ) Purpse Under Rule 1.2.3 (Educatin, Training and Experience), an Apprved Persn must nt perfrm an activity that
More informationRequest for Proposals # Tulsa Transit CNG Fuel Station Maintenance Amendment# 3 October 9, 2018
This amendment prvides additinal infrmatin t firms respnding t RFP #19-1902 CNG Fuel Statin Maintenance issued by. Purpse: This amendment answers questins psed by prpsers wh attended the Pre- Prpsal Meeting.
More informationWelcome. 1.Identification. 2.Accuracy of content
Welcme We are delighted t welcme yu t Samsnite s Service Prtal (hereinafter referred t as the "Site"), the fficial nline stre fr spare parts. We ask yu t take the time t read these terms and cnditins carefully.
More informationLICENSEE STANDARDS. Life Insurance Advice. (including Replacement of Product Advice)
LICENSEE STANDARDS Life Insurance Advice (including Replacement f Prduct Advice) Versin 1.0 Octber 2017 0 OVERVIEW Advice relating t persnal risk insurance (bth attached t superannuatin and stand-alne)
More informationEMIR Fees Disclosure
EMIR Fees Disclsure Merrill Lynch Internatinal Merrill Lynch, Pierce, Fenner & Smith Incrprated August 2014 Versin 5.0/August 2014 #37490657 Versin 5.0/August 2014 #37490657 Merrill Lynch Internatinal
More informationWindham School District Procurement Policy for Federal Funds
1 f 5 Windham Schl District Prcurement Plicy fr Federal Funds DJB-FED The fllwing Prcurement Plicies shall apply t all Cntracts fr and Purchases f gds and services. All prcurements made with Federal funds
More informationCORPORATE GOVERNANCE POLICY
CORPORATE GOVERNANCE POLICY Bard Missin Sagicr Real Estate X Fund Limited ( X Fund r the Cmpany ) was incrprated in 2011 under the laws f St. Lucia as an Internatinal Business Cmpany (IBC). X Fund is cmmitted
More informationSTATE OF NEW YORK MUNICIPAL BOND BANK AGENCY
STATE OF NEW YORK MUNICIPAL BOND BANK AGENCY Recvery Act Bnd Prgram Written Prcedures fr Tax Cmpliance and Internal Mnitring, adpted September 12, 2013 PROGRAM OVERVIEW The State f New Yrk Municipal Bnd
More informationPSNC Briefing on the NHS Complaints procedure (from 1 April 2009)
PSNC Briefing n the NHS Cmplaints prcedure (frm 1 April 2009) Under the prvisins f the Natinal Health Service (Pharmaceutical Services) Regulatins 2005 1 pharmacy cntractrs are required t make arrangements
More informationIn Force Fixed Annuity Block Reinsurance
In Frce Fixed Annuity Blck Reinsurance A Strategy t Imprve Return n Capital Many insurers are experiencing lw r negative returns n in-frce fixed annuity blcks f business. In mst cases this is driven by
More informationPark Square Capital, LLP (the Firm, Park Square ) Remuneration Policy Statement
Park Square Capital, LLP (the Firm, Park Square ) Remuneratin Plicy Statement Overview The Remuneratin Plicy is designed t supprt Park Square s business bjectives, strategy and align risk appetite with
More informationSNAKK MEDIA LIMITED FINANCIAL PRODUCTS TRADING POLICY AND GUIDELINES
SNAKK MEDIA LIMITED FINANCIAL PRODUCTS TRADING POLICY AND GUIDELINES Date adpted: 5 Nvember 2015 Versin: 1 1 SCOPE OF POLICY FINANCIAL PRODUCTS TRADING POLICY AND GUIDELINES This plicy applies t all directrs,
More informationRISK MANAGEMENT AND BUSINESS CONTINUANCE A FAIS Standard. An AC Guidance Note. July 2010
RISK MANAGEMENT AND BUSINESS CONTINUANCE A FAIS Standard An AC Guidance Nte July 2010 Risk Management and Business Cntinuance - A FAIS standard The General Cde f cnduct deals in a number f ways with the
More informationAudit Committee Charter
Audit Cmmittee Charter I. Purpse f Audit Cmmittee The purpse f the Audit Cmmittee, which is part f the Bard, shall be (a) t assist the Bard s versight f (i) the integrity f the Cmpany s financial statements,
More informationNYISO Expectations of Generator Operation During a Gas Restriction or Interruption User s Guide
NYISO Expectatins f Generatr Operatin During a Gas Restrictin r Interruptin User s Guide Intrductin: On days when gas system reliability culd be at risk, the Lcal Distributin Cmpany ( LDC ), interstate
More informationLSI Securities Litigation
Page 1 f 8 ELECTRONIC FILING INSTRUCTIONS I. Imprtant Ntes PLEASE READ In additin t these instructins, please review the details set frth in the claim frm and ntice prir t submitting claims. Electrnic
More informationAPPLIED INDUSTRIAL TECHNOLOGIES, INC. EXECUTIVE ORGANIZATION & COMPENSATION COMMITTEE CHARTER
APPLIED INDUSTRIAL TECHNOLOGIES, INC. EXECUTIVE ORGANIZATION & COMPENSATION COMMITTEE CHARTER Primary respnsibility fr the rganizatin and cmpensatin f the Crpratin s executive management is vested in the
More informationNote on the benefits & negatives of a Limited Liability Partnership
GPC: PRACTICAL GUIDANCE NOTE Nte n the benefits & negatives f a Limited Liability Partnership Sectin Pint Details 1 What is a Limited Liability Partnership ( LLP )? LLP s were created by the Limited Liability
More information[AGENCY NAME] Mandate and Roles Document. (Pure Advisory Committees)
[This sample dcument has been develped by the Agency Gvernance Secretariat. It is intended t be used fr infrmatinal purpses nly. Agencies are encuraged t adapt the dcument t meet their specific needs.
More informationRequest for Proposal. For. Unemployment Insurance Services. November 9, 2016
Request fr Prpsal Fr Unemplyment Insurance Services Nvember 9, 2016 I. INTRODUCTION: Opprtunities fr Williamsn and Burnet Cunties invites qualified firms t submit a Statement f Qualificatins t prvide unemplyment
More informationRegulatory notifications
Regulatry ntificatins August 2017 As a regulated firm we are expected t be pen and c perative in yur dealings with the regulatr which expects t be ntified within certain designated timescales f certain
More informationSEC Proposes Amendments to Rule 10b-18 Safe Harbor for Issuer Share Repurchases
SEC Prpses Amendments t Rule 10b-18 Safe Harbr fr Issuer Share Repurchases January 29, 2010 On January 26, 2010, the Securities and Exchange Cmmissin ( SEC ) prpsed amendments t Rule 10b-18 under the Securities
More informationClosing Out Award. The PI will work with ORA in obtaining the applicable resolution. Residuals
Clseut All spnsred prject awards must be frmally clsed-ut as sn as pssible after the prject end date t ensure that all expenses psted t this prject are allwable, n additinal charges are psted, all payments
More informationDetails of Rate, Fee and Other Cost Information
Details f Rate, Fee and Other Cst Infrmatin Accunt terms are nt guaranteed fr any perid f time. All terms, including fees and APRs fr new transactins, may change in accrdance with the Credit Card Agreement
More informationESTABLISHING A BUSINESS
Definitins p18 1. Define: Cmmand ecnmy (Cmmunism) 2. Define: Cmpetitin 3. Prvide term fr: Recgnises crpratins as legal persns with certain rights and respnsibilities in the same way that individual citizens
More informationTERMS OF REFERENCE. Audit and Risk Committee (the "Committee") of Wilmcote Holdings Plc (the "Company")
References t the "Bard" shall mean the full Bard f Directrs. MEMBERSHIP - The Bard has reslved t establish a cmmittee f the Bard t be knwn as the Audit and Risk Cmmittee. - The Cmmittee shall cmprise at
More informationCALCULATION OF REGISTRATION FEE
Pricing Supplement N. U721 T the Underlying Supplement dated March 23, 2012, Prduct Supplement N. U-I dated March 23, 2012, Prspectus Supplement dated March 23, 2012 and Prspectus dated March 23, 2012
More informationIndependent Director and Audit Committee
Independent Directr and Audit Cmmittee Rules summary The listed cmpany s bard f directrs is representing the sharehlders. They are respnsible fr making decisins n the cmpany s imprtant plicies and strategies.
More informationFUNDING GUIDELINES PREVENTION GRANTS FOR CULTURALLY AND LINGUISTICALLY DIVERSE COMMUNITIES
FUNDING GUIDELINES PREVENTION GRANTS FOR CULTURALLY AND LINGUISTICALLY DIVERSE COMMUNITIES CODE FOR APPLICATION COVER: CALD18 ISSUE DATE: 24 Octber 2017 PLACE FOR LODGEMENT: Please ldge yur applicatin
More informationBoard Performance Review & Renewal Policy
Bard Perfrmance Review & Renewal Plicy St Andrew s Insurance (Australia) Pty Ltd St Andrew s Life Insurance Pty Ltd St Andrew s Australia Services Pty Ltd Versin 2.0, 22 February 2016 Apprver Bard f Directrs
More information8722 S. HARRISON ST. SANDY, UT P.O. BOX 4439 SANDY, UT FAX
8722 S. HARRISON ST. SANDY, UT 84070 P.O. BOX 4439 SANDY, UT 84091 877-678-7342 FAX 800-478-9880 HOT AIR BALLOON PROPOSED EFFECTIVE DATE: A. General Infrmatin Applicant s Name: Applicant s Mailing Address:
More informationSuperannuation contributions tax ruling Tax deductibility of superannuation contributions
July 2011 Technical Bulletin Superannuatin cntributins tax ruling Tax deductibility f superannuatin cntributins Wh is impacted? As a result f tax ruling 2010/1 yur clients can n lnger claim a tax deductin
More informationNUMBER: BUSF 3.30 Business and Finance. Other Educational and General Program Accounts ("E" Funds) Date: October 18, 2006 I. PURPOSE OF THE POLICY
NUMBER: BUSF 3.30 SECTION: Business and Finance SUBJECT: Other Educatinal and General Prgram Accunts ("E" Funds) Date: Octber 18, 2006 Plicy fr: Prcedure fr: Authrized by: Issued by: All Campuses All Campuses
More informationCommvault Systems, Inc. Securities Litigation
Page 1 f 8 ELECTRONIC FILING INSTRUCTIONS Cmmvault Systems, Inc. Securities Litigatin I. Imprtant Ntes PLEASE READ Electrnic claim submissin is available t institutins filing n their wn behalf r n behalf
More informationPrivacy Notice for Applicants and Tenants
Privacy Ntice fr Applicants and Tenants What we need Scttish Brders Husing Assciatin (SBHA) will be a "cntrller" f the persnal infrmatin that yu prvide t us thrugh yur cmpleted Husing Applicatin Frm, and
More informationQuestions to OSEP regarding and
Questins t OSEP regarding 303.520 and 303.521 The tpic f Family Cst Participatin (the use f public insurance, private insurance and family fees) has been the subject f discussin and debate ver the years
More informationESTABLISHING A BUSINESS
INSTRUCTOR'S Chapter MANUAL 3 INSTRUCTOR'S MANUAL ESTABLISHING A BUSINESS CHAPTER 3 ESTABLISHING A BUSINESS Chapter cntent Intrductin The legal frm f wnership Develping a business plan fr the new business
More informationUCEA/ECU Age Discrimination Working Group Guidance. Age Discrimination Legislation Guidance Note 1: Pay and Benefits A UCEA Publication
UCEA/ECU Age Discriminatin Wrking Grup Guidance Age Discriminatin Legislatin 2006 Guidance Nte 1: Pay and Benefits A UCEA Publicatin Scpe f guidance This guidance nte addresses the implicatins f the Emplyment
More informationAUDIT & RISK COMMITTEE CHARTER
AUDIT & RISK COMMITTEE CHARTER Rle and Respnsibilities The Bard f The Institute f Internal Auditrs Australia (IIA-Australia) has established a Bard Audit & Risk Cmmittee as part f its respnsibilities in
More information