When receiving and executing client orders in relation to financial instruments, Logistable will endeavour to direct its best efforts to ensure that all reasonable steps to act in the client’s best interests (ie to chieve best execution) are based on our professional knowledge and experience, in the light of available market information and market conditions existing at that time.
This means that Logistable has in place procedures designed to obtain the best possible execution result, subject to and taking into account the best balance amongst the following range of factors:
If Logistable receives a specific instruction from a client, the order will be executed following the client’s instruction. In the absence of express instructions from the client, Logistable will balance the above-mentioned factors based on its professional experience and judgement in light of the available market information and market conditions at the appropriate time, and taking into account the following criteria:
Total consideration of price and cost will ordinarily merit a high relative importance in obtaining the best possible result. However, for some clients, orders, financial instruments, markets or market conditions, Logistable may determine that other execution factors shall have the same importance or shall take precedence over price in obtaining the best possible execution result.
Logistable will act with due skill care and diligence when executing an order and will endeavour to take reasonable care to ascertain the best price available for a transaction in the relevant market at that time taking into consideration the nature and size of the order. Prevailing market conditions may not permit a client order to be executed either immediately or in a single transaction. Large trades, particularly those involving financial instruments where trading volumes are limited, can move prices in the market against the interests of the client. In these circumstances, a series of partial executions over a period of time is likely to provide a better overall result than executing one trade.
In selecting the most appropriate venues for the purpose of executing client orders, Logistable will consider several factors, in particular:
Logistable will place orders through its appointed correspondents:
All three of the above institutions are also required to comply with the requirements of MiFID II, consequently the trading venues through which all orders will be placed will be in accordance with the requirements set out by MiFID II. Further details of their policies on best execution and trading venues can be found on their respective websites. However the list is by no means exhaustive and where appropriate, alternative venues may be used
by Logistable.
In providing best execution Logistable is subject to the provision set out in this Policy document to exercise the same standards and operate the same processes across all the different liquidity pools and financial instruments on which client orders are executed. However, the diversity of the markets and instruments and the type of orders that the client may place with Logistable mean that it will have to take different factors into account when it assesses the nature of said Policy in the context of different instruments and different liquidity pools located in different countries
Other factors may limit the choice of execution venue:
Under no circumstances is Logistable to be held liable for external causes that have partially or totally impeded it from providing the client with best execution.
Logistable will endeavour to take reasonable care to ensure that the entities selected, through which an order is to be placed, can consistently provide best execution, taking into consideration the best execution factors set out in this Policy, as well as:
For correspondents not subject to MIFID II, Logistable will take reasonable steps to select the correspondents that provide the best service in the relevant financial instruments, markets and geographical areas concerned.
Under specific circumstances (such as a specific instruction from the client, particular market conditions, or the provisory failure of a broker etc.) Logistable may be forced to transmit the client order to an entity that has not been selected by its correspondent reviews in order to act in the client’s best interests.
When the client gives us a specific instruction as order execution or transmission, the relevant part of the order will be executed in accordance with that instruction. The client should be aware that in providing a specific instruction, the client may prevent us from taking the steps which we have designed and implemented to obtain the best possible result for the execution or transmission of the order in respect of the factors covered by
those instructions.
Any written or *oral/verbal contractual arrangement between the client and Logistable will take precedence over the Policy.
Notes:
* – Logistable will in exceptional circumstances accept oral/verbal client instructions.
However all orders executed on this basis will be at the client’s own risk.
As a GFSC regulated firm, we are required to and we do report all relevant securities transactions executed on behalf of our clients.
If Logistable identifies a potential conflict of interest in the execution of an order, this will be managed by placing the client’s interests above those of Logistable. On the rare occasion where the measures in place do not, in the view of Logistable, sufficiently protect the interests of clients, and the arrangements made by Logistable are not sufficient to ensure with reasonable confidence that the risk of damage to the interests of clients will be prevented, Logistable;
Logistable will regularly review its Policy, at least annually, or whenever a material change occurs. Logistable will monitor the effectiveness of its Policy, by reviewing its best execution arrangements, its correspondents and its execution venues at different levels, depending, in particular, on the type of financial instruments, the type of execution venue and the factors affecting its Policy.
