Information on the top five execution venues and quality of execution obtained for Prosperity Capital Management (UK) Limited.
An explanation of the relative importance the firm gave to execution factors or price, costs, speed, likelihood of execution or any other consideration including qualitative factors when assessing the quality of execution.
Prosperity Capital Management (UK) Limited (“PCMUK”) is part of the PCM group and provides investment services to three clients: two mandated clients and a SICAV UCITS fund.
When receiving and transmitting orders for execution, at PCMUK we take into account the following factors: price, cost, speed of execution, likelihood of execution, speed of settlement, likelihood of settlement, size of the order, nature of the order; and any other considerations in relation to the execution of the order. We do not determine the importance of a trade based solely on when the order was received, but also consider the negotiated commission rates and spreads; the nature and characteristics of the markets in which the security is purchased or sold, the desired timing of the trade, the existing and expected market activity relating to the security, the confidentiality in handling the execution and clearance of the transaction, plus the reputation, soundness and settlement capabilities of the brokers we engage.
Description of any close links, conflicts of interests, and common ownerships with respect to the execution venues used to execute order.
PCMUK has no close links, conflicts of interest, or common ownerships with respect to any of the venues or brokers we utilise in carrying out our investment services.
A description of any specific arrangement with any execution venue regarding payments made or received, discounts, rebates or non-monetary benefits received.
Not applicable - PCMUK appoints brokers to execute the orders over the venues.
An explanation of the factors that led to a change in the list of execution venues listed in the firm’s execution policy, if such a change has occurred.
Not applicable - there were no changes in execution venues.
An explanation of how order execution differs according to client categorisation, where the firm treats categories of clients differently and where it may affect the order execution arrangements.
Not applicable - there are no differences in the order execution process based on the client categorisation as PCMUK does not provide services to retail clients.
An explanation of whether other criteria were given precedence over immediate price and cost when executing retail client order and how these other criteria were instrumental in delivering the best possible result in terms of the total consideration to the client.
Not applicable - PCMUK does not provide services to retail clients.
An explanation of how the investment firm has used any data or tools relating to the quality of execution, including any data published by execution venues on the quality of execution of transactions.
At PCMUK we monitor best execution by comparing trade prices during specific time frames with the respective volume weighted average price (VWAP) and the historic prices published by the venues. Further tests to ensure trades are executed promptly and equitably are performed on a quarterly basis as a matter of course.
Where applicable, an explanation of how the investment firm has used output of a consolidated tape provider established under Article 64 of Directive 2014/65/EU
PCMUK did not utilise a consolidated tape provider during the reporting period.