Execution Policy
Introduction
This document serves to provide information on our policy on order execution and our approach to achieving the best possible result for our customers when executing their orders on a consistent basis.
This disclosure statement forms part of our terms of business. Therefore, by agreeing to the terms of our Retail Client Agreement, our customers are also agreeing with the terms of our execution policy, as detailed in this document.
Our duty of Best Execution
When executing orders for FX/Forex and Bullion or other OTC financial derivative products, we will take all reasonable steps to achieve the best possible outcome taking into account our Execution Policy and any specific instructions received from our customers.
Our Policy cannot provide a guarantee, however, that the price at which we permit our customers to execute an order will always be better than one which is or might have been available elsewhere.
Achieving ‘Best Execution’
To achieve the best possible result, we will take a number of factors into account, including price, costs, speed of execution, likelihood of execution and settlement, size, nature of the order or any other factors relevant to the execution of that order.
We will use our own commercial experience and judgment in determining the relative importance of these factors, however, we have rated price as the most important factor for obtaining the best possible result.
Specific Client Instructions
Where our customers provide us with specific instructions as to how to execute their orders, we will have complied with our obligation to take all reasonable steps to obtain the best possible result when executing that order by following their instructions.
Please note that this may prevent us from following our Order Execution Policy. To the extent that their instructions are incomplete, we will usually follow our Execution Policy for those parts or aspects of the order not covered by their instructions. It is worth noting that providing specific instructions in relation to the execution of an order may prevent us from taking the steps set out in this policy to obtain the best result in respect of elements covered by those instructions.
Aggregation
Depending upon circumstances, market conditions and order size, we may combine orders of several customers for execution as a single order. This is not considered to compromise the customers’ interests, although some disadvantage in relation to a particular order, may occur.
Hantec Markets’ Commitment
Our commitment to provide our customers with ‘Best Execution’ does not mean that we owe them any fiduciary responsibilities over and above the specific regulatory obligations placed upon us or as may be otherwise contracted between us.
Foreign Exchange
Hantec Markets prices on FX/Currency products are sourced from independent price providers who supply liquidity to the OTC FX Market. Hantec Markets will add a mark-up to the prices from our liquidity providers and publish the “marked-up” prices that include Hantec Markets’ income. Hantec Markets will base the closing price on FX/currency positions on the closing price of the relevant currency for the purpose of margin requirements and any balance credits/debits.
Review of our Order Execution Policy
We will monitor the effectiveness of our order execution arrangements and Order Execution Policy. We will assess from time to time whether the venues relied upon by us in pricing our transactions allow us to meet our regulatory obligations on a consistent basis or whether we need to make changes to our execution arrangements.
We will also review our review our order execution arrangements and Order Execution Policy in respect of material changes either in respect of one of our chosen pricing venues or otherwise that affects our ability to continue to achieve best execution. Should there be any material changes to our order execution arrangements or Order Execution Policy, we will notify our customers.
