MiFID II RTS 28 Report - Reception and Transmission of Orders Top 5 Brokers, Professional Clients Argus Stockbrokers Ltd
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1 MiFID II RTS 28 Report - Reception and Transmission of Orders Top 5 Brokers, Professional Clients Argus Stockbrokers Ltd Equities Shares & Depositary Receipts - Tick size liquidity bands 5 and 6 Saxo Bank A/S TL5406IC1XKD09 7,4% 100,0% CASTLE HARBOUR SECURITIES LLP O4T4PRFO3MTW17 92,6% 100,0% Equities Shares & Depositary Receipts - Tick size liquidity bands 3 and 4 N Linear Investments Limited GNOS9QQ31DCK54 6,8% 100,0% Saxo Bank A/S TL5406IC1XKD09 2,9% 100,0% CASTLE HARBOUR SECURITIES LLP O4T4PRFO3MTW17 14,8% 100,0% LEK Securities UK Ltd DTVT3A94CK4R75 75,4% 100,0% Equities Shares & Depositary Receipts - Tick size liquidity band 1 and 2 N Linear Investments Limited GNOS9QQ31DCK54 4,1% 100,0% Saxo Bank A/S TL5406IC1XKD09 6,8% 100,0% CASTLE HARBOUR SECURITIES LLP O4T4PRFO3MTW17 27,9% 100,0%
2 LEK Securities UK Ltd DTVT3A94CK4R75 61,2% 100,0% Exchange Traded products Linear Investments Limited GNOS9QQ31DCK54 18,5% 100,0% Saxo Bank A/S TL5406IC1XKD09 6,0% 100,0% CASTLE HARBOUR SECURITIES LLP O4T4PRFO3MTW17 35,8% 100,0% LEK Securities UK Ltd DTVT3A94CK4R75 39,7% 100,0% Debt Instruments Vantage Capital Markets LLP ZHUXSGBB53N72 88,10% 100,0% Merrit Capital Ltd P7J4PAD91E29 8,57% 100,0% Hellenic Bank - CXUHEGU3MADZ2CEV7C11 1,98% SHORE Capital Stockbrokers Ltd KZO3MK7TV6372 0,89% AstroBank Ltd VB6UM9TUOCW67 0,27% Currency derivatives - Futures and options admitted to trading on a trading venue R.J. O'Brien & Associates, LLC - WOPZ3KWZW5JSJMG3U ,0% 100,0% Contract for Differreneces
3 Saxo Bank A/S TL5406IC1XKD09 100,0% 100,0% Equity Derivatives - Options and Futures admitted to trading on a trading venue R.J. O'Brien & Associates, LLC - WOPZ3KWZW5JSJMG3U ,0% 100,0% 93,4% 6,6% Commodities derivatives and emission allowances Derivatives R.J. O'Brien & Associates, LLC - WOPZ3KWZW5JSJMG3U ,0% 100,0% Interest rates derivatives - Futures and options admitted to trading on a trading venue R.J. O'Brien & Associates, LLC - WOPZ3KWZW5JSJMG3U ,0% 100,0% Explanatory Note Top 5 Venues Classification of Passive / Aggressive Orders: - Aggressive order is defined as an order that is submitted to a venue which runs an order book and took liquity on the order book - Passive order is defined as an order that is submitted to a venue which runs an order book and provided liquity on the order book - For orders executed via venues/liquidty providers/market makers not running an order book the passive/aggressive classification is not relevant and thus is not specified. - No orders are directed as thus field is not specified
4 Categorisation of Products into Classes of Financial Instruments: - Equities Shares & Depositary Receipts o Cash Shares covered by the MiFID II tick size regime. Instruments are placed into liquidty bands based on the ADNT (average daily number of transactions) values published by ESMA (Liquidity Band 6 can be seen as representing the the most liquid instruments and Liquidity Band 1 the least liquid instruments, based on ADNT values.) - Interest rates derivatives - Futures and options admitted to trading on a trading venue o Contract Futures and Contract Options within sectors Financials - Short-term Interest Rates and Financials Bonds - Currency derivatives - Futures and options admitted to trading on a trading venue o Contract Futures and Contract Options within sector Financials Currencies - Equity Derivatives - Options and Futures admitted to trading on a trading venue o Contract Futures and Contract Options within sector Stock Indices and Stock Options and Stock Index Options - Securitised Derivatives - Warrants and Certificate Derivatives o Warrants - Commodities derivatives and emission allowances Derivatives - Options and Futures admitted to trading on a trading venue o Contract Futures and Contract Options within sectors Agriculture, Base Metals, Commodity Index, Energies, Meats, Precious Metals, Softs - Contracts for difference o CFDs on Single Stocks/ETFs executed via agency model - Exchange traded products (Exchange traded funds, exchange traded notes and exchange traded commodities) o ETFS, ETN, ETC - Other o Mutual Funds Data: Data: This first set of RTS 28 report is based on data for the calendar year However it should be noted that data on passive/aggressive indicators for orders is only included for Dec 2017, as data for the full preceeding year has not been available. Thus indicator is not avaible for brokers/venues with no executions in Dec ESMA has recognized that for the first set of RTS 28 reports, firms may not be able to fully report on information which is not available or applicable in relation to the preceding year e.g. where it is tied to new provisions stemming from MiFID II or MiFIR. (Question/Answer 6): ion_topics.pdf
5 MiFID II RTS 28 Report - Reception and Transmission of Orders Top 5 Brokers, Retail Clients Argus Stockbrokers Ltd Equities Shares & Depositary Receipts - Tick size liquidity bands 5 and 6 Linear Investments Limited GNOS9QQ31DCK54 72,9% 100,0% Saxo Bank A/S TL5406IC1XKD09 24,7% 100,0% CASTLE HARBOUR SECURITIES LLP O4T4PRFO3MTW17 2,4% 100,0% Equities Shares & Depositary Receipts - Tick size liquidity bands 3 and 4 N Linear Investments Limited GNOS9QQ31DCK54 17,7% 100,0% Saxo Bank A/S TL5406IC1XKD09 28,8% 100,0% CASTLE HARBOUR SECURITIES LLP O4T4PRFO3MTW17 43,8% 100,0% LEK Securities UK Ltd DTVT3A94CK4R75 9,7% 100,0% Equities Shares & Depositary Receipts - Tick size liquidity band 1 and 2 N
6 Linear Investments Limited GNOS9QQ31DCK54 10,4% 100,0% Saxo Bank A/S TL5406IC1XKD09 64,0% 100,0% CASTLE HARBOUR SECURITIES LLP O4T4PRFO3MTW17 11,2% 100,0% LEK Securities UK Ltd DTVT3A94CK4R75 14,4% 100,0% Exchange Traded products Linear Investments Limited GNOS9QQ31DCK54 74,5% 100,0% Saxo Bank A/S TL5406IC1XKD09 12,0% 100,0% CASTLE HARBOUR SECURITIES LLP O4T4PRFO3MTW17 11,3% 100,0% LEK Securities UK Ltd DTVT3A94CK4R75 2,2% 100,0% Debt Instruments. Vantage Capital Markets LLP ZHUXSGBB53N72 52,88% 100,0% SHORE Capital Stockbrokers Ltd KZO3MK7TV ,74% 100,0% CASTLE HARBOUR SECURITIES LLP O4T4PRFO3MTW17 6,32% 100,0% Leonteq Securities AG - ML61HP3A4MKTTA1ZB671 4,27% 100,0% Hellenic Bank - CXUHEGU3MADZ2CEV7C11 1,02% 100,0% Contract for Differreneces Saxo Bank A/S TL5406IC1XKD09 100,0% 100,0%
7 Currency derivatives - Futures and options admitted to trading on a trading venue Saxo Bank A/S TL5406IC1XKD09 100,0% 100,0% Equity Derivatives - Options and Futures admitted to trading on a trading venue Saxo Bank A/S TL5406IC1XKD09 100,0% 100,0% 93,4% 6,6% Securitised Derivatives - Warrants and Certificate Derivatives Saxo Bank A/S TL5406IC1XKD09 100,0% 100,0% Explanatory Note Top 5 Venues Classification of Passive / Aggressive Orders: - Aggressive order is defined as an order that is submitted to a venue which runs an order book and took liquity on the order book - Passive order is defined as an order that is submitted to a venue which runs an order book and provided liquity on the order book - For orders executed via venues/liquidty providers/market makers not running an order book the passive/aggressive classification is not relevant and thus is not specified. - No orders are directed as thus field is not specified
8 Categorisation of Products into Classes of Financial Instruments: - Equities Shares & Depositary Receipts o EU Cash Shares covered by the MiFID II tick size regime. Instruments are placed into liquidty bands based on the ADNT (average daily number of transactions) values published by ESMA (Liquidity Band 6 can be seen as representing the the most liquid instruments and Liquidity Band 1 the least liquid instruments, based on ADNT values.) - Interest rates derivatives - Futures and options admitted to trading on a trading venue o Contract Futures and Contract Options within sectors Financials - Short-term Interest Rates and Financials Bonds - Currency derivatives - Futures and options admitted to trading on a trading venue o Contract Futures and Contract Options within sector Financials Currencies - Equity Derivatives - Options and Futures admitted to trading on a trading venue o Contract Futures and Contract Options within sector Stock Indices and Stock Options and Stock Index Options - Securitised Derivatives - Warrants and Certificate Derivatives o Warrants - Commodities derivatives and emission allowances Derivatives - Options and Futures admitted to trading on a trading venue o Contract Futures and Contract Options within sectors Agriculture, Base Metals, Commodity Index, Energies, Meats, Precious Metals, Softs - Contracts for difference o CFDs on Single Stocks/ETFs executed via agency model - Exchange traded products (Exchange traded funds, exchange traded notes and exchange traded commodities) o ETFS, ETN, ETC - Other o EU Cash Shares not covered by the MiFID II tick size regime o US and APAC Cash Shares o Mutual Funds Data: Data: This first set of RTS 28 report is based on data for the calendar year However it should be noted that data on passive/aggressive indicators for orders is only included for Dec 2017, as data for the full preceeding year has not been available. Thus indicator is not avaible for brokers/venues with no executions in Dec ESMA has recognized that for the first set of RTS 28 reports, firms may not be able to fully report on information which is not available or applicable in relation to the preceding year e.g. where it is tied to new provisions stemming from MiFID II or MiFIR. (Question/Answer 6): ion_topics.pdf
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