Fitzgerald Brennan Asset Management Ltd Public Disclosures 2017

CLIENT ORDER HANDLING ANNUAL RTS REPORT 2017 (Article 28 MiFID II Directive)

For the year ended December 31st 2017, the top five stockbroking firms in trading volume terms, where client orders have been transmitted for execution and by asset class is as follows.

Class of Financial Instrument:

Equities a (iii) – Band 1 & 2

Top Stockbroking Firms:

Merrion Stockbrokers
Cantor Fitzgerald
Proportion of volume traded as a percentage of the total in that class, 68.01% Merrion Stockbrokers, 31.99% Cantor Fitzgerald.

Proportion of orders executed as a percentage of the total in that class, 80% Merrion Stockbrokers, 20% Cantor Fitzgerald.

Percentage of passive orders N/A.

Percentage of aggressive orders N/A.

Percentage of directed orders 100%.

The firm is satisfied that it obtained the best possible outcomes in with respect to the execution of client orders transmitted for execution by the relevant stockbroking firms. Best execution is a multi-factored test, with a requirement on this firm to take all reasonable steps to consistently obtain the best possible result for our clients. The firm assessed the most appropriate venue for the transmission of client orders for execution based on 1. Certainty of execution 2. Client type 3. Costs 4. Order size 5. Price 6. Settlement 7. Speed of execution 8. Any other criteria relevant to the execution of the order.

The firm transmitted client orders to stockbroking firms operating on regulated markets or using multi-lateral trading facilities (MTF). Some client orders were aggregated, when it was in their best interest to do so. The firm ensured that orders executed on client’s behalf were promptly and accurately recorded and allocated. The firm regularly reviews its best execution policies and procedures.

April 2018