Share Prices & Company Research

RTS 28 Report for January - December 2017

   

Top 5 Counterparties by % of Total Value

 

Debt Instruments - Bonds5

TOP 5 EXECUTION VENUES RANKED IN TERMS OF TRADING VOLUME
(DESCENDING ORDER)

PROPORTION OF VALUE TRADED AS A % OF TOTAL IN THAT CLASS

PROPORTION OF ORDERS EXECUTED AS % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

Winterflood 34.19 40.93 7.57 0.46
Canaccord Genuity 14.80 17.40 7.40 0.21
Peel Hunt 14.75 21.28 4.39 0.09
Cantor Fitzgerald 8.46 5.75 9.09 0.32
Pershing Securities 8.01 2.88 1.95 5.84

 

EQUITIES - LIQUIDITY BAND 1 AND 2 (FROM 0 -79 TRADES PER DAY)5

TOP 5 EXECUTION VENUES RANKED IN TERMS OF TRADING VOLUME
(DESCENDING ORDER)

PROPORTION OF VALUE TRADED AS A % OF TOTAL IN THAT CLASS

PROPORTION OF ORDERS EXECUTED AS % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

Winterflood 24.15 29.42 6.32 0.92
Peel Hunt 12.74 15.40 6.19 1.79
Cantor Fitzgerald 7.74 9.76 7.82 1.35
Numis Securities 5.77 4.56 9.69 0.24
Citadel Securities 5.57 1.75 10.55 1.34

 

Equities - liquidity band 3 and 4 (from 80 -1,999 trades per day)5

TOP 5 EXECUTION VENUES RANKED IN TERMS OF TRADING VOLUME
(DESCENDING ORDER)

PROPORTION OF VALUE TRADED AS A % OF TOTAL IN THAT CLASS

PROPORTION OF ORDERS EXECUTED AS % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

Winterflood 21.96 27.93 6.45 1.78
Peel Hunt 14.02 13.89 7.22 1.47
KCG Europe 11.81 14.02 0.83 0.21
Investec Bank 9.29 4.86 6.56 3.28
Numis Securities 5.57 6.14 5.46 0.68

 

Equities – liquidity bands 5,6 and 7 (from 2,000 trades per day)5

TOP 5 EXECUTION VENUES RANKED IN TERMS OF TRADING VOLUME
(DESCENDING ORDER)

PROPORTION OF VALUE TRADED AS A % OF TOTAL IN THAT CLASS

PROPORTION OF ORDERS EXECUTED AS % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

Winterflood 33.61 45.25 6.14 1.31
KCG Europe 22.19 20.13 3.85 0.69
Investec Bank 17.50 7.30 6.35 2.92
Peel Hunt 10.78 12.71 6.92 1.15
Jefferies International 5.43 4.81 3.69 0.55

 

Exchange traded products (inc. Exchange traded funds, exchange traded notes and exchange traded commodities)5

TOP 5 EXECUTION VENUES RANKED IN TERMS OF TRADING VOLUME
(DESCENDING ORDER)

PROPORTION OF VALUE TRADED AS A % OF TOTAL IN THAT CLASS

PROPORTION OF ORDERS EXECUTED AS % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

Winterflood 32.49 35.67 4.17 1.89
Peel Hunt 20.18 15.91 5.10 1.09
Royal Bank of Canada 13.95 17.42 12.53 0.22
Citygate Nominees 10.77 11.16 2.60 2.25
KCG Europe 8.20 8.61 0 0

 

Securitised Derivatives – Warrants and Certificate Derivatives6

TOP 5 EXECUTION VENUES RANKED IN TERMS OF TRADING VOLUME
(DESCENDING ORDER)

PROPORTION OF VALUE TRADED AS A % OF TOTAL IN THAT CLASS

PROPORTION OF ORDERS EXECUTED AS % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

Societe Generale 64.61 40.74 0 0
Winterflood 21.53 44.44 0 16.67
Societe Generale - Touche Remnant 5.20 3.70 0 0
Citygate Nominees 1.34 3.70 0 0
KCG Europe 0.10 3.70 0 0

 

Other5

TOP 5 EXECUTION VENUES RANKED IN TERMS OF TRADING VOLUME
(DESCENDING ORDER)

PROPORTION OF VALUE TRADED AS A % OF TOTAL IN THAT CLASS

PROPORTION OF ORDERS EXECUTED AS % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

Placing 59.16 42.65 0 0
Winterflood 7.94 18.52 0 0
Peel Hunt 7.52 6.77 0 0
Societe Generale 4.76 2.54 0 0
Davy Nominees 3.07 4.23 0 0


The determination of 'passive' and 'aggressive' orders is based on their price in relation to touch at the time they were placed, with an 'aggressive' order being one which crosses touch such as a buy order at a price greater than or equal to the best offer at the time. Orders for which no market data was available can not be classified as either 'passive' or 'aggressive' so these percentages may not add up to 100% of orders at present.

 

Notes

  1. Redmayne Bentley makes no differentiation between retail and professional clients when executing orders and that all clients are treated as retail for the purposes of best execution.
  2. Redmayne Bentley’s full Order Execution Policy is available here.
  3. Due to changes in the way counterparty data has been recorded over 2017, the exact percentage may vary from the published figure. However, the difference is believed to be marginal and the published figures do reflect the true percentage position. This will not apply for 2018 data when published in April 2019.
  4. Redmayne Bentley do not undertake directed orders.
  5. ‚ÄčNotification if less than 1 average trade per business day within the previous year is not required.
  6. ‚ÄčNotification if less than 1 average trade per business day within the previous year is required.
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