MiFID II Execution Quality tables for 2018,,,,,
Class of Instrument,(a) Equities - Shares & depositary receipts Tick Size Liquidity Bands 1 & 2,,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class",,,
"TRPAU
LEI: 5493003T9X7RJNNM2N04",0.400939045,0.215454681,,,
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.285219727,0.31669114,,,
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.180325312,0.346527911,,,
"MORGAN STANLEY & CO. INTERNATIONAL PLC
LEI: 4PQUHN3JPFGFNF3BB653",0.03454622,0.010640788,,,
"GOLDMAN SACHS & CO. LLC
LEI: FOR8UP27PHTHYVLBNG30",0.01932497,0.000383068,,,
,,,,,
Class of Instrument,(a) Equities - Shares & depositary receipts Tick Size Liquidity Bands 3 & 4,,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class",,,
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.270862533,0.165611227,,,
"UBS Limited
LEI: REYPIEJN7XZHSUI0N355",0.10563652,0.187243528,,,
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.101923892,0.045898982,,,
"BANK OF AMERICA MERRILL LYNCH
LEI: GGDZP1UYGU9STUHRDP48",0.057046534,0.060995998,,,
"MORGAN STANLEY & CO. INTERNATIONAL PLC
LEI: 4PQUHN3JPFGFNF3BB653",0.044761316,0.042251381,,,
,,,,,
Class of Instrument,(a) Equities - Shares & depositary receipts Tick Size Liquidity Bands 5 & 6,,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class",,,
"UBS Limited
LEI: REYPIEJN7XZHSUI0N355",0.142974567,0.161281737,,,
"MORGAN STANLEY & CO. INTERNATIONAL PLC
LEI: 4PQUHN3JPFGFNF3BB653",0.107386347,0.088373685,,,
"JEFFERIES INTERNATIONAL LIMITED
LEI: S5THZMDUJCTQZBTRVI98",0.089929767,0.110189067,,,
"GOLDMAN SACHS & COMPANY
LEI: W22LROWP2IHZNBB6K528",0.077830587,0.084324293,,,
"J.P. MORGAN SECURITIES PLC
LEI: K6Q0W1PS1L1O4IQL9C32",0.072252568,0.093335615,,,
,,,,,
Class of Instrument,(g) Equity derivatives (i) Options and Futures admitted to trading on a trading venue,,,,
"Notification if <1 average
trade per business day in the
previous year",Y,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class",,,
"J.P. MORGAN SECURITIES LLC
LEI: ZBUT11V806EZRVTWT807",0.568652731,0.186119874,,,
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.222252124,0.400630915,,,
"MORGAN STANLEY & CO. LLC
LEI: 9R7GPTSO7KV3UQJZQ078",0.186345152,0.119873817,,,
"GOLDMAN SACHS INTERNATIONAL 
LEI: W22LROWP2IHZNBB6K528",0.016534079,0.211356467,,,
"MORGAN STANLEY & CO. INTERNATIONAL PLC 
LEI: 4PQUHN3JPFGFNF3BB653",0.003126832,0.041009464,,,
,,,,,
Class of Instrument,(g) Equity derivatives (ii) Swaps & Other Equity derivatives,,,,
"Notification if <1 average
trade per business day in the
previous year",Y,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class",,,
"MORGAN STANLEY & CO. LLC
LEI: 9R7GPTSO7KV3UQJZQ078",0.598686101,0.36525974,,,
"CITIGROUP GLOBAL MARKETS
LEI: XKZZ2JZF41MRHTR1V493",0.157051223,0.292207792,,,
"UBS Limited
LEI: REYPIEJN7XZHSUI0N355",0.151401318,0.159090909,,,
"MORGAN STANLEY & CO. INTERNATIONAL PLC 
LEI: 4PQUHN3JPFGFNF3BB653",0.065289564,0.074675325,,,
"GOLDMAN SACHS INTERNATIONAL 
LEI: W22LROWP2IHZNBB6K528",0.02112963,0.074675325,,,
,,,,,
Class of Instrument,(b) Debt instruments (i) Bonds,,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"BLOOMBERG
LEI: 549300ROEJDDAXM6LU05",0.5,0.56,N/A,N/A,N/A
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.35,0.1,N/A,N/A,N/A
"TRADEWEB
LEI: 2138001WXZQOPMPA3D50",0.1,0.22,N/A,N/A,N/A
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.05,0.1,N/A,N/A,N/A
"MARKETAXESS
LEI: 549300TTHIODYMGND828",0,0.02,N/A,N/A,N/A
,,,,,
Class of Instrument,(b) Debt instruments (ii) Money market instruments,,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.74,0.43,N/A,N/A,N/A
"BLOOMBERG
LEI: 549300ROEJDDAXM6LU05",0.13,0.19,N/A,N/A,N/A
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.07,0.14,N/A,N/A,N/A
"TRADEWEB
LEI: 2138001WXZQOPMPA3D50",0.06,0.23,N/A,N/A,N/A
,,,,,
Class of Instrument,(b) Debt instruments - Bonds - OTC table,,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.349260165,0.208131335,N/A,N/A,N/A
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.125607332,0.103459674,N/A,N/A,N/A
"CITIBANK NA
LEI: E57ODZWZ7FF32TWEFA76",0.065769165,0.104671662,N/A,N/A,N/A
"HSBC BANK PLC
LEI: MP6I5ZYZBEU3UXPYFY54",0.062563752,0.05531071,N/A,N/A,N/A
"MERRILL LYNCH INTERNATIONAL
LEI: GGDZP1UYGU9STUHRDP48",0.05261226,0.051344204,N/A,N/A,N/A
,,,,,
Class of Instrument,(b) Debt instruments - Money markets - OTC table,,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.721624443,0.480286738,N/A,N/A,N/A
"STANDARD CHARTERED BANK
LEI: RILFO74KP1CM8P6PCT96",0.115164033,0.193548387,N/A,N/A,N/A
"HSBC BANK PLC
LEI: MP6I5ZYZBEU3UXPYFY54",0.093296177,0.089605735,N/A,N/A,N/A
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.028858129,0.096774194,N/A,N/A,N/A
"J.P. MORGAN SECURITIES LLC
LEI: ZBUT11V806EZRVTWT807",0.01114468,0.05734767,N/A,N/A,N/A
,,,,,
Class of Instrument,"(c) Interest Rate Derivatives (ii) Swaps, forwards, and other interest rate derivatives",,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"BLOOMBERG SEF
LEI: 5493003IUYOH354SNS58",0.534180378,0.695833333,N/A,N/A,N/A
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.465819622,0.304166667,N/A,N/A,N/A
,,,,,
Class of Instrument,"(c) Interest Rate Derivatives - Swaps, forwards, and other interest rate derivatives - OTC table",,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.650426103,0.435797665,N/A,N/A,N/A
"MERRILL LYNCH INTERNATIONAL
LEI: GGDZP1UYGU9STUHRDP48",0.176121914,0.171206226,N/A,N/A,N/A
"CITIBANK NA
LEI: E57ODZWZ7FF32TWEFA76",0.120412554,0.180933852,N/A,N/A,N/A
"HSBC BANK PLC
LEI: MP6I5ZYZBEU3UXPYFY54",0.031653763,0.070038911,N/A,N/A,N/A
"BNP PARIBAS SECURITIES
LEI: R0MUWSFPU8MPRO8K5P83",0.015657039,0.007782101,N/A,N/A,N/A
,,,,,
Class of Instrument,(d) Credit derivatives - Futures & options admitted to trading on a trading venue,,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class",,,
"GOLDMAN SACHS INTERNATIONAL 
LEI: W22LROWP2IHZNBB6K528",0.54,0.51,,,
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.3,0.26,,,
"MORGAN STANLEY & CO. INTERNATIONAL PLC 
LEI: 4PQUHN3JPFGFNF3BB653",0.12,0.11,,,
"J.P. MORGAN SECURITIES LLC
LEI: ZBUT11V806EZRVTWT807",0.03,0.08,,,
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.01,0.02,,,
,,,,,
Class of Instrument,(d) Credit derivatives (ii) Other credit derivatives,,,,
"Notification if <1 average
trade per business day in the
previous year",Y,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.64,0.37,N/A,N/A,N/A
"BLOOMBERG SEF
LEI: 5493003IUYOH354SNS58",0.36,0.63,N/A,N/A,N/A
,,,,,
Class of Instrument,(d) Credit derivatives - Other credit derivatives - OTC table,,,,
"Notification if <1 average
trade per business day in the
previous year",Y,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.59,0.37,N/A,N/A,N/A
"CITIBANK NA
LEI: E57ODZWZ7FF32TWEFA76",0.18,0.12,N/A,N/A,N/A
"J.P. MORGAN SECURITIES LLC
LEI: ZBUT11V806EZRVTWT807",0.08,0.17,N/A,N/A,N/A
"BARCLAYS CAPITAL SECURITIES LIMITED
LEI: K9WDOH4D2PYBSLSOB484",0.06,0.09,N/A,N/A,N/A
"MERRILL LYNCH INTERNATIONAL
LEI: GGDZP1UYGU9STUHRDP48",0.06,0.08,N/A,N/A,N/A
,,,,,
Class of Instrument,"(e) Currency derivatives (ii) Swaps, forwards, and other currency derivatives",,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"FX CONNECT
MIC: MFXC",0.38388736,0.391431124,N/A,N/A,N/A
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.34573719,0.36685113,N/A,N/A,N/A
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.235262019,0.177196814,N/A,N/A,N/A
"FX ALL
MIC: TRAL",0.035113432,0.064520932,N/A,N/A,N/A
,,,,,
Class of Instrument,(e) Currency derivatives - Futures & options - OTC table,,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"STANDARD CHARTERED BANK
LEI: RILFO74KP1CM8P6PCT96",0.270530619,0.079439252,N/A,N/A,N/A
"CITIBANK NA
LEI: E57ODZWZ7FF32TWEFA76",0.210978361,0.228971963,N/A,N/A,N/A
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.21005242,0.228971963,N/A,N/A,N/A
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.105972449,0.200934579,N/A,N/A,N/A
"BANK OF AMERICA NA
LEI: B4TYDEB6GKMZO031MB27",0.060767015,0.046728972,N/A,N/A,N/A
,,,,,
Class of Instrument,"(e) Currency derivatives - Swaps, forwards, and other currency derivatives - 
OTC table",,,,
"Notification if <1 average
trade per business day in the
previous year",N,,,,
"Top five execution venues
ranked in terms of trading
volumes (descending order)
trade per business day in the
previous year","Proportion of
volume traded as
a percentage of
total in that class","Proportion of
orders executed
as percentage of
total in that class","Percentage of
passive orders","Percentage of
aggressive orders","Percentage of
directed orders"
"TRPHK
LEI: 549300J2AF74HTUGWG28",0.450687056,0.168155971,N/A,N/A,N/A
"TRPA
LEI: 7HTL8AEQSEDX602FBU63",0.233430298,0.790820471,N/A,N/A,N/A
"HAMBURGER SPARKASSE AG
LEI: 529900F5KTT6ZUPA8N40",0.209680909,0.014486867,N/A,N/A,N/A
"CITIBANK NA
LEI: E57ODZWZ7FF32TWEFA76",0.02270014,0.004738695,N/A,N/A,N/A
"STANDARD CHARTERED BANK
LEI: RILFO74KP1CM8P6PCT96",0.019475129,0.002572434,N/A,N/A,N/A