As a receiver and transmitter, Computershare does not transact directly on an execution venue, but passes customers’ orders to counterparties with which we have an established contractual relationship to provide us with execution services. These entities will usually be member firms of the relevant exchange, Retail Service Providers and/or Market Makers. We refer to these entities throughout this policy as "Brokers".
The Brokers that we regularly use for executions are:
- Winterflood Securities Limited*
- HSBC Global Markets*
- Morgan Stanley Wealth Management Australia Pty Limited*
- Peel Hunt LLP*
- Stifel Nicolaus Europe Limited
- J.P. Morgan Group*
- Merrill Lynch International
- J & E Davy
- Canaccord Genuity Limited*
- Investec Bank PLC
* denotes those Brokers with whom we are able to trade in "Real Time" via an electronic connection. Refer to Trading Methods for more detail.
We also have the ability to transmit orders to:
- Panmure Gordon (UK) Limited
- Stockdale Securities Limited
- Numis Securities Limited
- Citigroup Global Markets Limited
The above Brokers are entities that enable us to consistently obtain the best possible results for the execution of our customers’ orders. The Broker we use to execute your instructions is chosen in accordance with our Broker Selection Policy.
The Trading Venues used by the Brokers to execute trades transmitted to them by us, will be determined in their own best execution and order handling arrangements. The Trading Venues chosen may be Regulated Markets, Multilateral Trading Facilities (MTFs) or Organised Trading Facilities (OTFs) (collectively, "Trading Venues"). Dependent on the nature of the trade the Broker may use one or a combination of Trading Venues.
The Broker may decide at their discretion to execute an instruction outside a Trading Venue, if they consider it in Computershare’s best interest to do so. Where execution takes place outside of a regulated venue, the trade will not be subject to the rules of a Trading Venue and increased risks may apply, for example (but not limited to) delayed settlement. Where a trade is executed outside of a Trading Venue, Computershare’s obligation to provide best execution to you will be unaffected.
In order for Computershare to act outside of a Trading Venue, a customer is required to provide express prior consent. Details are provided in your terms and conditions, and consent to those terms is obtained prior to the submission of a trade order. Further details of the potential risks involved with trading outside of a regulated venue can be obtained upon request, by writing to us at The Pavilions, Bridgwater Road, Bristol BS13 8AE, United Kingdom.