Share Prices & Company Research

RTS 28 Report for January - December 2020

   

Top 5 Counterparties by Total Value

 

Debt Instruments - Bonds

Notification if <1 average trade per business day in previous year Yes (RIA & Guy Butler < 1 trade per day)

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Peel Hunt 30.78 37.74 94.76 4.56 0.00
Winterflood Gilts Ltd 26.35 34.33 96.41 2.99 0.00
RIA Capital Markets 19.06 3.34 30.77 50.00 0.00
Canacord Genuity 9.64 16.92 90.14 8.80 0.00
Guy Butler Ltd 4.13 1.44 75.00 17.86 0.00


EQUITIES - all

Notification if <1 average trade per business day in previous year No

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Peel Hunt 27.79 31.72 88.08 11.91 0.00
Winterflood 23.00 31.30 82.55 16.78 0.00
Shore Capital 9.48 5.88 67.86 33.14 0.00
Stifel Nicolaus Europe Ltd 8.72 2.52 75.00 25.00 0.00
Investec Bank 6.90 5.25 76.00 24.00 0.00


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

Notification if <1 average trade per business day in previous year No

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Winterflood 19.37 26.12 83.03 12.03 0.00
Peel Hunt 17.41 20.53 84.25 13.72 0.00
Numis Securities 6.39 4.68 87.53 12.38 0.00
NPLUS 1 Singer Capital Markets 5.78 5.93 86.24 13.66 0.00
Panmure Gordon 4.77 4.52 85.02 14.98 0.00

 

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

Notification if <1 average trade per business day in previous year No

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Peel Hunt 25.69 31.69 89.28 9.71 0.00
Winterflood 20.16 25.76 77.63 20.84 0.00
Investec Bank 8.16 6.38 78.88 20.40 0.00
Numis Securities 6.69 5.87 89.84 10.01 0.00
Stifel Nicolaus Europe Ltd 5.38 2.48 67.84 31.81 0.00

 

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

Notification if <1 average trade per business day in previous year No

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Winterflood 30.89 41.27 70.45 25.18 0.00
Peel Hunt 28.95 32.14 83.88 13.10 0.00
Investec Bank 12.94 6.07 45.64 54.11 0.00
Stifel Nicolaus Europe Ltd (STF.) 6.26 1.08 67.45 32.37 0.00
Stifel Nicolaus Europe Ltd (STFL) 5.60 2.60 60.57 39.41 0.00

 

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

Notification if <1 average trade per business day in previous year No

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Peel Hunt 30.78 24.22 82.63 16.28 0.00
Winterflood 30.12 27.26 66.40 23.60 0.00
Winterflood Gilts 22.16 29.53 81.79 18.18 0.00
Investec Bank 12.95 14.46 64.88 33.84 0.00
Virtu Financial Ireland Ltd 2.86 3.20 48.35 50.00 0.00

 

Securitised Derivatives – Warrants and Certificate Derivatives

Notification if <1 average trade per business day in previous year Yes all counterparties

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Winterflood 87.64 97.31 66.67 33.33 0.00
Peel Hunt 8.01 3.85 0.00 0.00 0.00
Societe Generale (EQUAA) 4.35 3.85 0.00 0.00 0.00
N/A N/A N/A N/A N/A N/A
N/A N/A N/A N/A N/A N/A

 

STRUCTURED FINANCE INSTRUMENTS

Notification if <1 average trade per business day in previous year Yes all counterparties

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Virtu Financial Ireland 28.72 14.36 53.27 46.73 0.00
Peel Hunt 21.65 31.25 20.00 80.00 0.00
S G Option Europe 17.96 18.75 31.25 0.00 0.00
Investec 11.11 12.50 50.00 0.00 0.00
N/A N/A N/A N/A N/A N/A

 

Other

Notification if <1 average trade per business day in previous year Yes all counterparties

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Agency Cross 32.44 27.03 0.00 0.00 0.00
Artic Securities AS 25.23 5.41 0.00 0.00 0.00
Winterflood 16.34 27.03 0.00 0.00 0.00
Peel Hunt 10.39 13.51 7.14 0.00 0.00
Winterflood Gilts 4.78 5.41 0.00 100.00 0.00


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 cannot be classified as either 'passive' or 'aggressive' so these percentages may not add up to 100%.

 

Top 5 Counterparties by PERCENTAGE VOLUME

 

Debt Instruments - Bonds

Notification if <1 average trade per business day in previous year Yes - RIAC, BRID & GUBU

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

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

PROPORTION OF ORDERS EXECUTED AS A % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

RIA Capital Markets 14.65 3.34 33.77 50.00 0.00
Bridport & Co (Jersey) 12.09 0.15 33.33 50.00 0.00
Peel Hunt 11.67 37.74 94.76 4.56 0.00
Winterflood 9.63 34.33 96.41 2.99 0.00
Guy Butler ltd 7.44 1.44 75.00 17.86 0.00


EQUITIES - ALL

Notification if <1 average trade per business day in previous year No

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Winterflood 57.28 31.30 82.55 16.78 0.00
Peel Hunt 16.50 31.72 88.08 11.92 0.00
Shore Capital 9.86 5.88 67.86 32.14 0.00
Cantor Fitzgerald 3.35 1.89 66.67 33.27 0.00
NPLUS1 Singer Capital markets 2.14 3.78 83.33 16.67 0.00


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

Notification if <1 average trade per business day in previous year No

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Winterflood 17.41 26.12 83.03 12.03 0.00
Cantor Fitzgerald 14.87 5.54 83.55 16.34 0.00
Peel Hunt 12.38 20.53 84.25 13.72 0.00
J Berenberg Gossler 10.02 4.52 84.25 13.72 0.00
Shore Capital Ltd 9.46 5.85 81.70 18.16 0.00

 

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

Notification if <1 average trade per business day in previous year No

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Winterflood 23.24 25.76 77.63 20.04 0.00
Peel Hunt 19.07 31.69 89.28 9.71 0.00
J Berenberg Gossler 14.78 2.94 84.26 15.32 0.00
Shore Capital 12.69 4.35 78.12 20.20 0.00
Cantor Fitzgerald 10.34 2.95 81.55 17.86 0.00

 

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

Notification if <1 average trade per business day in previous year No

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

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

PROPORTION OF ORDERS EXECUTED AS A % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% of directed orders

Peel Hunt 30.44 32.14 83.88 13.10 0.00
Winterflood 27.02 41.27 70.45 25.18 0.00
Investec 12.00 6.07 45.64 54.11 0.00
Stifel Nicolaus Europe 8.97 2.60 60.37 39.41 0.00
Cantor Fitzgerald 3.60 1.10 66.73 32.47 0.00

 

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

Notification if <1 average trade per business day in previous year No

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Winterflood 50.89 27.26 66.40 23.60 0.00
Peel Hunt 30.47 24.22 82.63 16.28 0.00
Investec Bank 9.79 14.46 64.88 33.84 0.00
Winterflood Gilts ltd 6.81 29.53 81.79 18.18 0.00
Virtu Financial Ireland 0.62 3.20 48.35 50.00 0.00

 

Securitised Derivatives – Warrants and Certificate Derivatives

Notification if <1 average trade per business day in previous year Yes all

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Winterflood 98.28 92.31 66.67 33.33 0.00
Peel Hunt 1.68 3.85 100 0.00 0.00
Societe Generale 0.04 3.85 0.00 0.00 0.00
N/A N/A N/A N/A N/A N/A
N/A N/A N/A N/A N/A N/A

 

structured finance instruments

Notification if <1 average trade per business day in previous year Yes all

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF dIRECTED ORDERS

Winterflood 85.73 75.50 64.27 35.11 0.00
SG Option Europe 6.38 0.54 62.50 37.50 0.00
Virtu Financial Ireland Ltd 4.42 14.36 53.27 46.73 0.00
Peel Hunt 1.89 9.40 50.00 49.29 0.00
Leonteq Securities 1.56 0.13 0.00 0.00 0.00

 

Other

Notification if <1 average trade per business day in previous year Yes all

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

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

PROPORTION OF ORDERS EXECUTED AS a % OF TOTAL IN THAT CLASS

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF dIRECTED ORDERS

Artic Securities 57.21 5.41 0.00 0.00 0.00
Placing 32.32 5.41 0.00 0.00 0.00
Peel Hunt 3.82 13.57 40.00 0.00 0.00
AX Trades 3.43 27.03 0.00 0.00 0.00
Winterflood 1.75 27.03 0.00 0.00 0.00


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 cannot be classified as either 'passive' or 'aggressive' so these percentages may not add up to 100%.

 

Top 5 Counterparties by NUMBER OF SHARE ORDERS/EXECUTIONS


Debt Instruments - Bonds

Notification if <1 average trade per business day in previous year Yes RIA Capital Markets & Pershing ltd

Top 5 execution venues ranked in terms of number of trades
(DESCENDING ORDER)

% of orders made

% OF PASSIVE ORDERS

% OF AGGRESSIVE ORDERS

% OF DIRECTED ORDERS

Ave less than 1 per business day

Peel Hunt 37.74 94.76 4.56 0.00 No
Winterflood 34.33 96.41 2.99 0.00 No
Canaccord Genuity 16.92 90.14 8.80 0.00 No
RIA Capital Markets 3.34 30.77 50.00 0.00 Yes
City & Continental Ltd 1.72 80.60 00.00 0.00 Yes


EQUITIES - aLL

Notification if <1 average trade per business day in previous year No

Top 5 execution venues ranked in terms of number of trades
(DESCENDING ORDER)

% of orders made

% of Passive orders

% of Aggressive orders

% of Directed  orders

Ave less than 1 per business day

Peel Hunt 31.72 88.08 11.92 0.00 No
Winterflood 31.70 82.55 16.78 0.00 No
Shore Capital 5.88 67.86 32.14 0.00 No
Virtu Financial Ireland Ltd 5.46 100.00 00.00 0.00 No
Investec Bank 5.25 76.00 24.00 0.00 No


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

Notification if <1 average trade per business day in previous year No

Top 5 execution venues ranked in terms of number of trades
(DESCENDING ORDER)

% of orders made

% of Passive orders

% of Aggressive orders

% of Directed  orders

Ave less than 1 per business day

Winterflood 26.12 83.03 12.03 0.00 No
Peel Hunt 20.53 84.25 13.72 0.00 No
NPLUS1 Singer Capital Markets 5.93 86.24 13.66 0.00 No
Shore Capital 5.85 81.70 18.16 0.00 No
Cantor Fitzgerald 5.54 83.55 16.34 0.00 No

 

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

Notification if <1 average trade per business day in previous year No

Top 5 execution venues ranked in terms of number of trades
(DESCENDING ORDER)

% of orders made

% of Passive orders

% of Aggressive orders

% of Directed  orders

Ave less than 1 per business day

Peel Hunt 31.69 89.28 9.71 0.00 No
Winterflood 25.76 77.63 20.04 0.00 No
Investec Bank 6.38 78.88 10.01 0.00 No
Numis Securities 5.87 89.84 10.20 0.00 No
Shore Capital 4.35 78.12 8.46 0.00 No

 

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

Notification if <1 average trade per business day in previous year No

Top 5 execution venues ranked in terms of number of trades
(DESCENDING ORDER)

% of orders made

% of Passive orders

% of Aggressive orders

% of Directed  orders

Ave less than 1 per business day

Winterflood 41.27 70.45 25.18 0.00 No
Peel Hunt 32.14 83.88 13.10 0.00 No
Virtu Financial Ireland Ltd 6.38 81.04 18.85 0.00 No
Investec Bank 6.07 45.64 54.11 0.00 No
Shore Capital 5.05 67.29 32.50 0.00 No

 

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

Notification if <1 average trade per business day in previous year No

Top 5 execution venues ranked in terms of number of trades
(DESCENDING ORDER)

% of orders made

% of Passive orders

% of Aggressive orders

% of Directed  orders

Ave less than 1 per business day

Winterflood (WING) 29.53 81.79 18.18 0.00 No
Winterflood (WINS) 27.26 66.40 23.60 0.00 No
Peel Hunt 24.22 82.63 16.28 0.00 No
Investec Bank 14.46 64.88 33.84 0.00 No
Virtu Financial Ireland Ltd 3.20 48.35 50.00 0.00 No

 

Securitised Derivatives – Warrants and Certificate Derivatives

Notification if <1 average trade per business day in previous year Yes - all counterparties

Top 5 execution venues ranked in terms of number of trades
(DESCENDING ORDER)

% of orders made

% of Passive orders

% of Aggressive orders

% of Directed  orders

Ave less than 1 per business day

Winterflood 92.31 66.67 33.33 0.00 Yes
Peel Hunt 3.85 40.00 0.00 0.00 Yes
Societe Generale S A 3.85 0.00 0.00 0.00 Yes
N/A N/A N/A N/A N/A N/A
N/A N/A N/A N/A N/A N/A

 

STRUCTURED FINANCE INSTRUMENTS

Notification if <1 average trade per business day in previous year Yes - all counterparties

Top 5 execution venues ranked in terms of number of trades
(DESCENDING ORDER)

% of orders made

% of Passive orders

% of Aggressive orders

% of Directed  orders

Ave less than 1 per business day

Winterflood 31.25 20.00 80.00 0.00 Yes
Peel Hunt 25.00 75.00 25.00 0.00 Yes
Leonteq Securities 18.75 0.00 0.00 0.00 Yes
Stifel Nicolaus Europe Ltd 12.50 100.00 0.00 0.00 Yes
SG Option Europe 12.50 50.00 0.00 0.00 Yes

 

Other

Notification if <1 average trade per business day in previous year Yes all counterparties

Top 5 execution venues ranked in terms of number of trades
(DESCENDING ORDER)

% of orders made

% of Passive orders

% of Aggressive orders

% of Directed  orders

Ave less than 1 per business day

AX Trades 27.03 0.00 0.00 0.00 Yes
Winterflood 27.03 0.00 0.00 0.00 Yes
Peel Hunt 13.51 40.00 0.00 0.00 Yes
Artic Securities 5.41 0.00 0.00 0.00 Yes
DBS Vickers Securities 5.41 50.00 50.00 0.00 Yes


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 cannot be classified as either 'passive' or 'aggressive' so these percentages may not add up to 100%.

 

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.
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