Order Handling & Best Execution Policy
This policy applies from 15th of September to new users and from 15th of October 2022 to those onboarded before the 15th of September.
- Execution on trading venues
- Broker may execute Orders directly on one or several trading venues or, if Broker is not a member of such a trading venue, Broker may trade indirectly through a third-party investment firm (e.g. broker).
- Execution via Third Party Broker – In case when Broker is not a member of the trading venue where the Instruments are traded nor has direct access to such venue via a broker, Broker uses a Third Party Broker for execution. For US Instruments, Broker will hence primarily transmit an Order to be executed by the Third Party Broker. The Third Party Broker may in turn transmit the Order to another broker. It is also possible for the Third Party Broker to execute the transaction outside of a trading venue. You provide express consent for Orders to be executed outside of a UK or EU trading venue (to be executed on a US trading venue) and outside of any trading venue (to buy or sell a fraction of an Instrument) by agreeing to Agreement, Broker Agreement and this Order Handling Policy. When executing Customer Orders by transmitting them, we will monitor that the Third Party Broker provides the best possible execution.
- Price – this is the price at which an Instrument is executed;
- Costs – this includes implicit costs such as the possible market impact, explicit external costs e.g. exchange or clearing fees;
- Speed – time taken to execute an Order;
- Likelihood of execution and settlement – the likelihood that we will be able to complete an Order;
- Size – the size of the Order executed for a Customer, accounting for how this affects the price of execution; and
- Nature of the transaction or any other consideration relevant to the execution of the transaction – given that the particular characteristics of a Customer transaction can affect how execution is performed and the impact on the market.
- Regulated Markets and
- Multilateral Trading Facilities.
- identify and implement any required amendments to this Policy;
- ensure the Policy is fit for purpose; and
- ensure the Policy reflects any changes to Applicable Law;
- by email at firstname.lastname@example.org; or
- by mail at 42-46 Princelet St, London E1 5LP, United Kingdom (or if directed to the Broker, at Niine 11, Tallinn, Estonia).
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Lightyear Europe AS is authorised and regulated as an investment firm by the Estonian Financial Supervision Authority (Finantsinspektsioon) under activity licence number 4.1-1/31. Lightyear Europe is a company registered in Estonia with company number 16235024 and registered office at Volta 1, Tallinn 10412, Estonia.