` MiFID II

Best Execution Reports: RTS 27 Quality of Execution Quantitative Reports

In order to fully assess the extent of the quality of execution that takes place in the Union, execution venues are required by RTS 27 to make public, without any charges, periodic (quarterly) data relating to the quality of execution for each market segment they operate. RTS 27 specifies the format and periodicity of data, requiring details about price, costs, speed and likelihood of execution for individual financial instruments. The BGC Group have provided this data in csv downloadable files for each trading day in the reporting period and have reported separately for each market segment (MTF/OTF/XOFF).

The BGC Group will produce reports 7 and 8 only if it operates under a continuous auction order book, continuous quote driven trading system or other type of trading system for which that information is available. Similarly, the BGC Group will produce report 9 only if it operates under a request for quote trading system or any other type of trading system for which that information is available. If no trading activity occurred on an execution venue, reports will not be produced for that day.

Aurel BGC 2020 Quality of Execution Quantitative Reports

Afin de mesurer la qualité de l'exécution des ordres traités dans l'Union, le RTS 27 exige des Plateformes de négociation de publier, sans aucun frais, périodiquement (trimestriellement) des données relatives à la qualité d'exécution pour chaque segment de marché où elles traitent. Le RTS 27 spécifie le format et la périodicité des données, exigeant des détails sur le prix, les coûts, la rapidité et la probabilité d'exécution pour chaque instrument financier. Aurel BGC a fourni ces données dans des fichiers téléchargeables au format csv pour chaque jour de bourse au cours de la période de reporting et a présenté un rapport séparé pour chaque segment de marché (OTF / XOFF).

Aurel BGC produira les rapports 7 et 8 uniquement s'il opère dans le cadre d'un carnet d’ordre en continu, d'un système de cotation en continu ou d'un autre type de système de négociation pour lequel ces informations sont disponibles. De même, Aurel BGC ne produira le rapport 9 que s'il opère dans le cadre d'un système de de cotation ou de tout autre système de négociation pour lequel cette information est disponible. Si aucune activité commerciale n'a eu lieu sur une plateforme d'exécution, les rapports ne seront pas produits pour ce jour.

Report 1: Execution Venue Details
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Report 2: Financial Instrument Details
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Report 3: Price Information
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Report 4: Transaction Price Information
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Report 5: Costs Information
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Report 6: Likelihood of Execution
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