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Top 5 Execution Venues and Execution Quality

Best Execution MiFID II

MiFID II requires that Clydesdale Bank PLC, which also trades as Yorkshire Bank (“Clydesdale Bank”) as an investment firm take all sufficient steps to obtain the best possible result for its clients, taking into account price, costs, speed, likelihood of execution and settlement, size, nature and/or any other relevant order execution consideration when executing orders on behalf of clients who are owed best execution under MiFID II.

MiFID II requires that Clydesdale Bank publish an annual report detailing the top 5 execution venues used to execute client orders and a quarterly report detailing the quality of execution for relevant financial instruments and for each class of financial instruments, a summary of the analysis and conclusions it draws from its detailed monitoring of the quality of execution obtained on the execution venues where it executed all client orders in the previous year.

Top Five Execution Venues

The Top 5 Execution Venues report details the execution venues where Clydesdale Bank execute client orders. The purpose of this report is to enable the public and investors to evaluate the quality of Clydesdale Bank’s execution practices by requiring publication of valuable information about how and where Clydesdale Bank has executed client orders.

This report will be published on Clydesdale Bank’s website on an annual basis for the proceeding calendar year. Each table details data on each financial instrument and client type as required for Best Execution purposes. Reporting is published at financial instrument and client type level to enable the audience to conduct a meaningful comparison and analysis of the information provided.

Clydesdale Bank deals on a principal basis and does not route orders to third party execution venues, therefore this report will consist of a single execution venue Clydesdale Bank for each financial instrument.

The proportion of volume traded, proportion of orders executed and passive orders will all be 100% as this is due to Clydesdale Bank being the only execution venue and liquidity provider for each financial instrument.

RTS 28 Report for the period ending 31.12.18

Top Five Execution Venues Report 2018

Top Five Execution Venues Report 2017

Execution Quality

MiFID II requires that Clydesdale Bank, as an execution venue, it makes available to the public, without any charges, data relating to the quality of execution of transactions on that venue on at least an annual basis. The information published under RTS 27 is intended to provide the public and firms with relevant data to measure the quality of execution.

The Execution Quality report details the quality of the execution provided by Clydesdale Bank as sole execution venue.

This report will be published on the bank’s website on a quarterly basis no later than 90 days after the reporting period ends. Each table details data on each financial instrument as required for Best Execution purposes. Reporting is published at financial instrument level to enable the audience to conduct a meaningful comparison and analysis of the data. Trading days where no trades were executed have been omitted from the Execution Quality report.

The data will be presented in the following tables per Financial Instrument and trading day:

Type of execution venue
Type of financial instrument
Intraday Price
Daily Price
Costs
Likelihood of execution

As Clydesdale Bank do not operate on a continuous auction order book or a continuous quote driven trading system Clydesdale Bank is not required to provide the information set out therein Article 7 and Article 8 of RTS 27.

Execution Quality Report 01.01.19 to 31.03.19

Execution Quality Report 01.10.18 to 31.12.18

Execution Quality Report 01.07.18 to 30.09.18

Execution Quality Report 01.04.18 to 30.06.18

Execution Quality Report 01.01.18 to 31.03.18