RTS 28

It is in the interests of our clients and AFH that we obtain the best possible result when placing orders with other firms (e.g. third party brokers) for the execution of client orders or when transmitting orders on behalf of clients. We are required under the Rules of the Financial Conduct Authority to take all reasonable steps to provide Best Execution when carrying out such transactions.

AFH will ensure appropriate controls and procedures are put in place to ensure we obtain the best possible results for you when arranging execution of orders. These processes will be periodically monitored.

Type Professional
Year 2020
Class of Instrument Equities - Shares and Depositary Receipts: Tick size liquidity bands 1 and 2
Top 5 execution venues ranked in terms of trading volumes Volume of total in class (%) Orders of total in class (%) Passive orders (%) Aggressive orders (%) Directed orders (%)
LEI : 213800GNOS9QQ31DCK54 99.52 98.09 0 100 0
LEI : W22LROWP2IHZNBB6K528 0.48 1.91 0 100 0
Type Professional
Year 2020
Class of Instrument Equities - Shares and Depositary Receipts: Tick size liquidity bands 3 and 4
Top 5 execution venues ranked in terms of trading volumes Volume of total in class (%) Orders of total in class (%) Passive orders (%) Aggressive orders (%) Directed orders (%)
LEI: 213800GNOS9QQ31DCK54 99.42 99.6 0 100 0
LEI : W22LROWP2IHZNBB6K528 0.58 0.4 0 100 0
Type Professional
Year 2020
Class of Instrument Equities - Shares and Depositary Receipts: Tick size liquidity bands 5 and 6
Top 5 execution venues ranked in terms of trading volumes Volume of total in class (%) Orders of total in class (%) Passive orders (%) Aggressive orders (%) Directed orders (%)
LEI : 213800GNOS9QQ31DCK54 85.57 98.22 0 100 0
LEI : W22LROWP2IHZNBB6K528 14.43 1.78 0 100 0
Type Professional
Year 2020
Class of Instrument Exchange Traded Products (Exchange Traded Funds, Exchange Traded Notes and Exchange
Top 5 execution venues ranked in terms of trading volumes Volume of total in class (%) Orders of total in class (%) Passive orders (%) Aggressive orders (%) Directed orders (%)
LEI : 213800GNOS9QQ31DCK54 97.91 66.95 0 100 0
LEI : W22LROWP2IHZNBB6K528 2.09 33.05 2.69 97.31 0

(a) An explanation of the relative importance AFH Independent Financial Services gave to the execution factors of price, costs, speed, likelihood of execution or any other consideration including qualitative factors when assessing the quality of execution.

AFH Independent Financial Services takes all reasonable steps to obtain the best possible results for its clients, AFH Independent Financial Services considers various execution factors in deciding how and where to execute orders including price, costs, speed, likelihood of execution and settlement, size, nature of the order and any other considerations relevant to the execution.

(b) A description of any close links, conflicts of interests, and common ownerships with respect to any execution venues used to execute orders.

AFH Independent Financial Services does not have any close links, conflicts of interests, and common ownership with respect to any execution venues used to execute orders in equities.

(c) A description of any specific arrangements with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received.

AFH Independent Financial Services does not have any specific arrangements with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received.

(d) An explanation of the factors that led to a change in the list of execution venues listed in the firm’s execution policy, if such a change occurred.

AFH Independent Financial Services did not make any changes to the execution venues in 2020.

(e) An explanation of how order execution differs according to client categorisation, where the firm treats categories of clients differently and where it may affect the order execution arrangements.

Not applicable

(f) An explanation of whether other criteria were given precedence over immediate price and cost when executing retail client orders and how these other criteria were instrumental in delivering the best possible result in terms of the total consideration to the client.

Not applicable

(g) An explanation of how the investment firm has used any data or tools relating to the quality of execution, including any data published under Commission Delegated Regulation (EU) 2017/575.

We monitor the quality of execution provided by brokers on a consistent basis using metrics to assess the quality of execution. The metrics are used to assess the quality of orders handling and execution quality. This includes adherence to order instructions, the management and timeliness of orders and execution and reviewing available quotes and market prices.     

(h) Where applicable, an explanation of how the investment firm has used output of a consolidated tape provider established under Article 65 of Directive 2014/65/EU.

Not applicable as no such data has been published.