Susquehanna International Securities Ltd's Execution Venue Analysis 2018

MiFID II RTS 28 - Article 3 (3) - Summary of the analysis and conclusions drawn from the detailed monitoring of the quality of execution obtained
Question Analysis and conclusions
An explanation of the relative importance the firm gave to the execution factors of price, costs, speed, likelihood of execution or any other consideration including qualitative factors when assessing the quality of execution Susquehanna International Securities Limited's (SIS) Order Execution policy sets out that price has been determined to be the most important execution factor for all decisions to deal irrespective of the trading strategy, financial instrument or execution venue being traded, in most circumstances. Minimisation of cost of execution is also an important execution factor. The other execution factors are deemed to be less important than price and minimisation of cost of execution
A description of any close links, conflicts of interests, and common ownerships with respect to any execution venues used to execute orders Capital Ventures International is an affiliate of SIS
A description of any specific arrangements with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received SIS does not receive any remuneration, discount or non-monetary benefit for routing orders, subject to SIS’ Order Execution policy, on a client's behalf to a particular trading venue or execution venue which would infringe the requirements on conflicts of interest or inducements. In relation to the trades concerned, SIS’ Order Execution policy sets out that any venue rebates received are paid back to the client to whom SIS owes a duty of best execution
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 occurred Venues added to SIS' Order Execution policy during 2018 due to an expansion of the strategies used
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 N/A
An explanation of whether other criteria were given precedence over immediate price and cost when executing retail client orders and how these other criteria were instrumental in delivering the best possible result in terms of the total consideration to the client N/A
An explanation of how the investment firm has used any data or tools relating to the quality of execution, including any data published under RTS 27 SIS offers clients, to which it owes a duty of best execution, a venue report showing where orders occurred. This report includes a number of performance analysis metrics
Where applicable, an explanation of how the investment firm has used output of a consolidated tape provider established under Article 65 of Directive 2014/65/EU N/A [Information not yet available]

Top 5 Execution Venues 2018 - Exchange Traded Products
Top 5 Execution Venues 2018 - Equity Derivatives
Top 5 Execution Venues 2018 - Equity (Band 1 & 2)
Top 5 Execution Venues 2018 - Equity (Band 3 & 4)
Top 5 Execution Venues 2018 - Equity (Band 5 & 6)
Top 5 Execution Venues 2018 - Currency Derivatives
Top 5 Execution Venues 2018 - Credit Derivatives
Top 5 Execution Venues 2018 - Bonds