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Getting you the best price

Going the extra mile to get you the best price for your trade

Our focus is on you and getting you the best price on your deal.

When you ask us to place a deal for you, we’ll get prices from up to 31 different places. And you’ll get the best price.

We aren’t owned by, and we don’t own, the companies we place your deals with. There are no conflicts of interest or close ties with them.

We place all overseas deals with Winterflood Securities Ltd and Peel Hunt LLP. They charge us for providing this service to you.

What we look at

Price and costs are the main things we look for in getting you the best deal. But there may be times when we need to consider other things.

For example, when prices are moving quickly, we want to place your deal as soon as possible. So speed is important.

The size and investment you’re trading may also impact who we deal with. For example, if you’re buying or selling a large quantity of an investment, or the investment isn’t frequently traded.

On these occasions we may need to focus on certain firms. These will be the ones most likely to be able to place your deal and settle it. If you give us specific instructions on how you want us to place your trade, we will follow these. But it may impact the price you get.

We treat all our clients the same; as retail clients. This means we don’t treat you as a professional investor and it gives you the best regulatory protection.

How did we do?

In 2017, 99.9% of trades were within 0.04% of the live London Stock Exchange price.

We use an independent company to check we’ve got you the best price. We don’t give them any of your information. They only look at the trades and prices you receive.

Every day we’ll look at any trades which didn’t meet our high standards to find out why.

And we’ll match the price if we could have done better. Either by updating the price you got or by giving you money to cover the difference. We’ll always contact you to let you know what we’ve done.

We’ll continue to check that we get the best deals for you. Each year, we’ll update our results and explain any changes.

You can see a list of the top firms used to place your deals in the reports below. For all types of investment, HL dealt on average at least 1 trade per working day during 2017.

  • Equity
    Top 5 venues ranked in terms of volume (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders traded as a percentage of total in that class Percentage of Aggressive Orders
    Winterflood Securities Ltd 37.65% 42.51% 100%
    Peel Hunt LLP 19.35% 16.82% 100%
    Cantor Fitzgerald Europe 17.66% 5.38% 100%
    Shore Capital Stockbrokers Limited 14.35% 5.54% 100%
    Stifel Nicolaus Europe Limited 3.70% 1.15% 100%

    Source HL/LiquidMetrix, correct as at 30 April 2018

    View in excel

  • Bonds
    Top 5 venues ranked in terms of volume (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders traded as a percentage of total in that class Percentage of Aggressive Orders
    Winterflood Securities Ltd 42.68% 47.13% 100%
    Canaccord Genuity Limited 17.99% 20.22% 100%
    Cantor Fitzgerald Europe 14.85% 5.13% 100%
    Peel Hunt LLP 13.54% 24.47% 100%
    RIA Capital Markets Ltd 8.74% 1.67% 100%

    Source HL/LiquidMetrix, correct as at 30 April 2018

    View in excel

  • ETPs
    Top 5 venues ranked in terms of volume (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders traded as a percentage of total in that class Percentage of Aggressive Orders
    Winterflood Securities Ltd 62.76% 54.53% 100%
    Peel Hunt LLP 17.29% 21.39% 100%
    Susquehanna International Securities Limited 8.18% 7.19% 100%
    Flow Traders B.V. 7.20% 7.63% 100%
    Virtu Financial Ireland Limited 2.94% 3.77% 100%

    Source HL/LiquidMetrix, correct as at 30 April 2018

    View in excel

  • Securitised Derivatives
    Top 5 venues ranked in terms of volume (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders traded as a percentage of total in that class Percentage of Aggressive Orders
    Societe Generale SA 70.40% 57.01% 100%
    Panmure Gordon (UK) Limited 5.06% 2.73% 100%
    Canaccord Genuity Limited 4.40% 6.78% 100%
    Winterflood Securities Ltd 3.14% 9.43% 100%
    Stifel Nicolaus Europe Limited 2.61% 6.45% 100%

    Source HL/LiquidMetrix, correct as at 30 April 2018

    View in excel

Counterparty

Arden
BMO Capital
Canaccord Genuity Limited
Cantor Fitzgerald Europe
Cenkos
Davy
Fidante
Finn Cap
Flow Traders B.V.
Goodbody
Guy Butler
Investec
Jeffries
JPMorgan
Virtu Financial Ireland Limited
Liberum
Macquarie
N+1 Singer
Numis
Panmure Gordon (UK) Limited
Peel Hunt LLP
RBC
RIA Capital Markets Ltd
Societe Generale SA
Shore Capital Stockbrokers Limited
Smith & Williamson
Stifel Nicolaus Europe Limited
Stockdale
Susquehanna International Securities Limited
WH Ireland
Winterflood Securities Ltd