Annual publication of information on the identity of execution venues

Year: 2017

Purpose of this document

Article 27(6) of the directive 2014/65/EU in financial instruments (MiFID II), requires investment firms who
execute client orders to summarise and make public on an annual basis, for each class of financial
instruments the top five execution venues in terms of trading volumes where they executed client orders in
the preceding year and information on the quality of execution obtained.

This document provides the top five execution venues, by class of financial instrument as prescribed by
MIFID II, when Banque de Luxembourg executes client orders, or directly (as an trading venue member, or
against own account), or when transmitting the orders to a third party (broker) for execution.

Classes of financial instruments

(a) Equities – Shares & Depositary Receipts
(i) Tick size liquidity bands 5 and 6 (from 2000 trades per day)
(ii) Tick size liquidity bands 3 and 4 (from 80 to 1999 trades per day)
(iii) Tick size liquidity bands 1 and 2 (from 0 to 79 trades per day)
(b) Debt instruments
(i) Bonds
(ii) Money markets instruments
(c) Interest rates derivatives
(i) Futures and options admitted to trading on a trading venue
(ii) Swaps, forwards, and other interest rates derivatives
(d) Credit derivatives
(i) Futures and options admitted to trading on a trading venue
(ii) Other credit derivatives
(e) Currency derivatives
(i) Futures and options admitted to trading on a trading venue
(ii) Swaps, forwards, and other currency derivatives
(f) Structured finance instruments
(g) Equity Derivatives
(i) Options and Futures admitted to trading on a trading venue
(ii) Swaps and other equity derivatives
(h) Securitized Derivatives
(i) Warrants and Certificate Derivatives
(ii) Other securitized derivatives
(i) Commodities derivatives and emission allowances Derivatives
(i) Options and Futures admitted to trading on a trading venue
(ii) Other commodities derivatives and emission allowances derivatives
(j) Contracts for difference
(k) Exchange traded products (Exchange traded funds, exchange traded notes and exchange traded commodities)
(l) Emission allowances
(m) Other instruments

Definitions
‘Passive order’ means an order entered into the order book that provided liquidity;
‘Aggressive order’ means an order entered into the order book that took liquidity;
‘Directed order’ means an order where a specific execution venue was specified by
the client prior to the execution of the order;
Client Type Retail Clients
Execution Type Execute

Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 5 and 6 (from 2000 trades per day)
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
100% 100% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56)

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute

Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 5 and 6 (from 2000 trades per day)
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order

Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 5 and 6 (from 2000 trades per day)
Notification if <1 average trade
per business day in the No
previous year

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

43.94% 28.90%
KCG EUROPE LIMITED
- - 0%
(LEI: 549300346EFUPFCXJT79)

INSTINET EUROPE LIMITED 27.65% 35.06%

(LEI: - - 0%
213800MXAKR2LA1VBM44)
27.35% 36.92%
KEPLER CHEUVREUX
- - 0%
(LEI: 9695005EOZG9X8IRJD84)

0.39% 0.01%
CLSA ASIA-PACIFIC MARKETS
- - 0%
(LEI: 213800VZMAGVIU2IJA72)

0.14% 0.27%
DEUTSCHE BANK AG
- - 0%
(LEI: 7LTWFZYICNSX8D621K86)

Client Type Professional Clients

Execution Type Receipt and Transmission of Order

Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 5 and 6 (from 2000 trades per day)
Notification if <1 average trade
per business day in the No
previous year

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

65.41% 52.59%
KCG EUROPE LIMITED
- - 0%
(LEI: 549300346EFUPFCXJT79)

INSTINET EUROPE LIMITED 20.23% 29.78%

(LEI: - - 0%
213800MXAKR2LA1VBM44)
11.17% 25.92%
KEPLER CHEUVREUX
- - 0%
(LEI: 9695005EOZG9X8IRJD84)

LIQUIDNET EUROPE LIMITED 2.27% 0.90%

(LEI:
213800ZIRB79BE5XQM68) - - 0%

BTIG LIMITED 0.39% 0.03%

(LEI: 213800YZXS7U4QZP6441) - - 0%
Client Type Retail Clients
Execution Type Execute

Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 3 and 4 (from 80 to 1999 trades per day)
Notification if <1 average trade per
business day in the previous year Yes
Top five execution venues ranked in Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
terms of trading volumes (descending traded as a percentage of executed as percentage of orders orders orders
order) total in that class total in that class

BOURSE DE LUXEMBOURG
89.23% 88.89% 75.00% 25.00% 0%
(MIC: XLUX)
Banque de Luxembourg
10.77% 11.11% 100% 0% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute

Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 3 and 4 (from 80 to 1999 trades per day)
Notification if <1 average trade per
business day in the previous year Yes
Top five execution venues ranked in Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
terms of trading volumes (descending traded as a percentage of executed as percentage of orders orders orders
order) total in that class total in that class

Banque de Luxembourg
100% 100% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order

Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 3 and 4 (from 80 to 1999 trades per day)
Notification if <1 average trade per
business day in the previous year No
Top five execution venues ranked in Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
terms of trading volumes (descending traded as a percentage of executed as percentage of orders orders orders
order) total in that class total in that class

KCG EUROPE LIMITED

62.12% 56.97% - - 0%
(LEI: 549300346EFUPFCXJT79)
KEPLER CHEUVREUX
17.69% 19.25% - - 0%
(LEI: 9695005EOZG9X8IRJD84)
INSTINET EUROPE LIMITED
16.19% 23.55% - - 0%
(LEI: 213800MXAKR2LA1VBM44)

TRADITION SECURITIES AND FUTURES

PARIS 1.77% 0.05% - - 0%
(LEI: 969500ULC0Y1IG0A4O72)
LIQUIDNET EUROPE LIMITED
(LEI: 213800ZIRB79BE5XQM68) 0.99% 0.27% - - 0%

Client Type Professional Clients

Execution Type Receipt and Transmission of Order

Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 3 and 4 (from 80 to 1999 trades per day)
Notification if <1 average trade per
business day in the previous year No
Top five execution venues ranked in Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
terms of trading volumes (descending traded as a percentage of executed as percentage of orders orders orders
order) total in that class total in that class

KCG EUROPE LIMITED 68.19% 59.79%

- - 0%
(LEI: 549300346EFUPFCXJT79)
INSTINET EUROPE LIMITED 19.97% 26.78%
- - 0%
(LEI: 213800MXAKR2LA1VBM44)
KEPLER CHEUVREUX 8.61% 26.31%
- - 0%
(LEI: 9695005EOZG9X8IRJD84)
LIQUIDNET EUROPE LIMITED 2.22% 2.06%
(LEI: 213800ZIRB79BE5XQM68) - - 0%
0.23% 0.03%
ABG SUNDAL COLLIER - - 0%
(LEI: 2138005DRCU66B8BNY04)
Client Type Retail Clients
Execution Type Execute

Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 1 and 2 (from 0 to 79 trades per day)
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

BOURSE DE LUXEMBOURG
94.68% 98.72% 72.73% 27.27% 0%
(MIC: XLUX)

Banque de Luxembourg
5.32% 1.28% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 1 and 2 (from 0 to 79 trades per day)
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

BOURSE DE LUXEMBOURG
85% 95% 100% 0% 0%
(MIC: XLUX)

Banque de Luxembourg
15% 5% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order

Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 1 and 2 (from 0 to 79 trades per day)
Notification if <1 average trade
per business day in the previous No
year

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

KCG EUROPE LIMITED

76.27% 71.51% - - 0%
(LEI: 549300346EFUPFCXJT79)

INSTINET EUROPE LIMITED

18.15% 19.68% - - 0%
(LEI: 213800MXAKR2LA1VBM44)

KEPLER CHEUVREUX
3.43% 6.37% - - 0%
(LEI: 9695005EOZG9X8IRJD84)
CLSA ASIA-PACIFIC MARKETS
0.64% 0.20% - - 0%
(LEI: 213800VZMAGVIU2IJA72)

UBS SWITZERLAND AG
0.38% 1.31% - - 0%
(LEI: 549300WOIFUSNYH0FL22)

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Equities – Shares & Depositary Receipts – Tick size liquidity bands 1 and 2 (from 0 to 79 trades per day)
Notification if <1 average trade
per business day in the previous No
year

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

KCG EUROPE LIMITED

48.14% 58.10% - - 0%
(LEI: 549300346EFUPFCXJT79)

INSTINET EUROPE LIMITED

35.46% 30.00% - - 0%
(LEI: 213800MXAKR2LA1VBM44)

MAYBANK KIM ENG SECURITIES 8.87% 3.69% - - 0%

LONDON LTD
(LEI: 2138004J5VSRWX5VMN77)
CLSA ASIA-PACIFIC MARKETS
4.58% 3.15% - - 0%
(LEI: 213800VZMAGVIU2IJA72)
BANCO SANTANDER S.A.
LONDON
(LEI: 1.15% 0.73% - - 0%
5493006QMFDDMYWIAM13)
Client Type Retail Clients
Execution Type Execute

Class of Instrument Debt instruments - Bonds

Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
81.10% 50.00% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

BOURSE DE LUXEMBOURG
18.90% 50.00% 100% 0% 0%
(MIC: XLUX)

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute

Class of Instrument Debt instruments - Bonds

Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
100% 100% 100% 0% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order

Class of Instrument Debt instruments - Bonds

Notification if <1 average trade
per business day in the previous No
year

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

ZUERCHER KANTONALBANK
ZURICH 5.82% 5.01% - - 0%
(LEI: 165GRDQ39W63PHVONY02)

K6Q0W1PS1L1O4IQL9C32
5.74% 5.39% - - 0%
(JP MORGAN SECURITIES PLC)
HSBC BANK PLC LONDON
5.33% 3.21% - - 0%
(LEI: MP6I5ZYZBEU3UXPYFY54)

BNP PARIBAS LONDON

4.81% 4.03% - - 0%
(LEI: CGKPTUL0E6IIWC1NOM75)

UBS LTD
4.80% 5.63% - - 0%
(LEI: REYPIEJN7XZHSUI0N355)

Client Type Professional Clients

Execution Type Receipt and Transmission of Order

Class of Instrument Debt instruments - Bonds

Notification if <1 average trade
per business day in the previous No
year

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

9.10% 4.55%
CITIGROUP GLOBAL MARKETS
LTD - - 0%
(LEI: XKZZ2JZF41MRHTR1V493)

6.72% 1.53%
DANSKE BANK A/S
- - 0%
(LEI: MAES062Z21O4RZ2U7M96)

6.68% 4.11%

BARCLAYS CAPITAL SECURITIES - - 0%

LIMITED
(LEI: K9XDOH4D2PYBSLSOB484)
5.20% 4.29%
JP MORGAN SECURITIES PLC
- - 0%
(LEI: K6Q0W1PS1L1O4IQL9C32)

HSBC BANK PLC LONDON 4.81% 5.60%

- - 0%
(LEI: MP6I5ZYZBEU3UXPYFY54)
Client Type Retail Clients
Execution Type Execute
Class of Instrument Debt instruments - Money markets instruments
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Debt instruments - Money markets instruments
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
100% 100% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Debt instruments - Money markets instruments
Notification if <1 average trade per business day in the
previous year Yes

Top five execution venues ranked in terms of trading Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

MORGAN STANLEY AND CO INTERNATIONAL PLC 70.26% 14.29% - - 0%

(LEI: 4PQUHN3JPFGFNF3BB653)
UNICREDIT BANK AG (HYPOVEREINSBANK)
17.01% 14.29% - - 0%
(LEI: 2ZCNRR8UK83OBTEK2170)
DANSKE BANK A/S 5.41% 14.29% - - 0%
(LEI: MAES062Z21O4RZ2U7M96)
NORDEA BANK FINLAND HELSINKI 2.62% 14.29% - - 0%
(LEI: 6SCPQ280AIY8EP3XFW53)
BARCLAYS CAPITAL SECURITIES LIMITED
2.06% 14.29% - - 0%
(LEI: K9XDOH4D2PYBSLSOB484)

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Debt instruments - Money markets instruments
Notification if <1 average trade per business day in the
previous year Yes

Top five execution venues ranked in terms of trading Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

BARCLAYS CAPITAL SECURITIES LIMITED

16.26% 15.09% - - 0%
(LEI: K9XDOH4D2PYBSLSOB484)

UNICREDIT BANK AG (HYPOVEREINSBANK)

13.60% 13.21% - - 0%
(LEI: 2ZCNRR8UK83OBTEK2170)
BANCO BILBAO VIZCAYA ARGENTARIA SA. MADRID 12.63% 3.77% - - 0%
(LEI: K8MS7FD7N5Z2WQ51AZ71)
CREDIT AGRICOLE CIB PARIS
12.02% 1.89% - - 0%
(LEI: 1VUV7VQFKUOQSJ21A208)
GOLDMAN SACHS INTERNATIONAL LIMITED
9.47% 1.89% - - 0%
(LEI: W22LROWP2IHZNBB6K528)
Client Type Retail Clients
Execution Type Execute
Class of Instrument Interest rates derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

EUREX CLEARING AG
(MIC: XEUR) 100% 100% 0% 100% 0%

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Interest rates derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average trade per
business day in the previous year No

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

EUREX CLEARING AG
(MIC: XEUR) 99.45% 99.36% 13.43% 86.57% 0%

Banque de Luxembourg
(LEI: PSZXLEV07O5MHRRFCW56 ) 0.55% 0.64% 0% 100% 0%

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Interest rates derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business
day in the previous year Yes

Top five execution venues ranked in terms of Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
trading volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

JP MORGAN SECURITIES LTD / F&O LONDON 100% 100% - - 0%

(LEI: K6Q0W1PS1L1O4IQL9C32)
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Interest rates derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business
day in the previous year Yes

Top five execution venues ranked in terms of Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
trading volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

JP MORGAN SECURITIES LTD / F&O LONDON 100% 100% - - 0%

(LEI: K6Q0W1PS1L1O4IQL9C32)

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Interest rates derivatives - Swaps, forwards, and other interest rates derivatives
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Interest rates derivatives - Swaps, forwards, and other interest rates derivatives
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Interest rates derivatives - Swaps, forwards, and other interest rates derivatives
Notification if <1 average
trade per business day in the
previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Interest rates derivatives - Swaps, forwards, and other interest rates derivatives
Notification if <1 average
trade per business day in the
previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Credit derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Credit derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Credit derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average
trade per business day in the
previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Credit derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average
trade per business day in the
previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Credit derivatives - Other credit derivatives
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Credit derivatives - Other credit derivatives
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Credit derivatives - Other credit derivatives
Notification if <1 average
trade per business day in the
previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Credit derivatives - Other credit derivatives
Notification if <1 average
trade per business day in the
previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Currency derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Currency derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Currency derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business
day in the previous year
Yes

Top five execution venues ranked in terms of Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
trading volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Currency derivatives - Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business
day in the previous year
Yes

Top five execution venues ranked in terms of Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
trading volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

JP MORGAN SECURITIES LTD / F&O LONDON 100% 100% - - 0%

(LEI: K6Q0W1PS1L1O4IQL9C32)
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Currency derivatives - Swaps, forwards, and other currency derivatives
Notification if <1 average trade per
business day in the previous year No

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
100% 100% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Currency derivatives - Swaps, forwards, and other currency derivatives
Notification if <1 average trade per
business day in the previous year No

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
100% 100% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Currency derivatives - Swaps, forwards, and other currency derivatives
Notification if <1 average
trade per business day in the Yes
previous year

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

- 0% 0% - - 0%

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Currency derivatives - Swaps, forwards, and other currency derivatives
Notification if <1 average
trade per business day in the Yes
previous year

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

- 0% 0% - - 0%

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Structured finance instruments
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Structured finance instruments
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Structured finance instruments
Notification if <1 average trade
per business day in the previous
year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

JULIUS BAER ZURICH

99.93% 50% - - 0%
(LEI: PNWU8O0BLT17BBV61Y18)

DANSKE BANK A/S

0.07% 50% - - 0%
(LEI: MAES062Z21O4RZ2U7M96)

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Structured finance instruments
Notification if <1 average trade
per business day in the previous
year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

DGZ DEKABANK
(LEI: 100% 100% - - 0%
0W2PZJM8XOY22M4GG883)
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Equity Derivatives - Options and Futures admitted to trading on a trading venue
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

EUREX CLEARING AG
(MIC: XEUR) 97.90% 98.73% 52.56% 47.44% 0%

Banque de Luxembourg
(LEI: PSZXLEV07O5MHRRFCW56 ) 2.10% 1.27% 50.00% 50.00% 0%

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Equity Derivatives - Options and Futures admitted to trading on a trading venue
Notification if <1 average trade per
business day in the previous year No

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

EUREX CLEARING AG
(MIC: XEUR) 99.89% 99.77% 35.63% 64.37% 0%

Banque de Luxembourg
(LEI: PSZXLEV07O5MHRRFCW56 ) 0.11% 0.23% 33.33% 66.67% 0%

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Equity Derivatives - Options and Futures admitted to trading on a trading venue
Notification if <1 average trade per business
day in the previous year Yes

Top five execution venues ranked in terms of Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
trading volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

JP MORGAN SECURITIES LTD / F&O LONDON 93.11% 90.29% - - 0%

(LEI: K6Q0W1PS1L1O4IQL9C32)

CM-CIC SECURITIES 6.89% 9.71% - - 0%

(LEI: N4JDFKKH2FTD8RKFXO39)
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Equity Derivatives - Options and Futures admitted to trading on a trading venue
Notification if <1 average trade per business
day in the previous year No

Top five execution venues ranked in terms of Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
trading volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

JP MORGAN SECURITIES LTD / F&O LONDON 97.83% 98.60% - - 0%

(LEI: K6Q0W1PS1L1O4IQL9C32)

CM-CIC SECURITIES 2.17% 1.40% - - 0%

(LEI: N4JDFKKH2FTD8RKFXO39)
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Equity Derivatives - Swaps and other equity derivatives
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
100.00% 100.00% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Equity Derivatives - Swaps and other equity derivatives
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
100.00% 100.00% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Equity Derivatives - Swaps and other equity derivatives
Notification if <1 average
trade per business day in the Yes
previous year

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

- 0% 0% - - -

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Equity Derivatives - Swaps and other equity derivatives
Notification if <1 average
trade per business day in the Yes
previous year

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending order) total in that class total in that class

- 0% 0% - - -

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Securitized Derivatives - Warrants and Certificate Derivatives
Notification if <1 average trade per
business day in the previous year No

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
100.00% 100.00% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Securitized Derivatives - Warrants and Certificate Derivatives
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
100.00% 100.00% 0% 100% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Securitized Derivatives - Warrants and Certificate Derivatives
Notification if <1 average trade per
business day in the previous year No

Top five execution venues ranked in Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
terms of trading volumes (descending traded as a percentage of executed as percentage of orders orders orders
order) total in that class total in that class

INSTINET EUROPE LIMITED

(LEI: 213800MXAKR2LA1VBM44) 39.68% 16.93% - - 0%

KCG EUROPE LIMITED

(LEI: 549300346EFUPFCXJT79) 31.76% 21.02% - - 0%
UBS SWITZERLAND AG
(LEI: 549300WOIFUSNYH0FL22) 12.71% 24.67% - - 0%
DEUTSCHE BANK AG
(LEI: 7LTWFZYICNSX8D621K86) 8.57% 11.39% - - 0%
KEPLER CHEUVREUX
(LEI: 9695005EOZG9X8IRJD84) 4.50% 13.28% - - 0%

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Securitized Derivatives - Warrants and Certificate Derivatives
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked in Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
terms of trading volumes (descending traded as a percentage of executed as percentage of orders orders orders
order) total in that class total in that class

KCG EUROPE LIMITED

(LEI: 549300346EFUPFCXJT79) 75.38% 35.03% - - 0%

INSTINET EUROPE LIMITED

(LEI: 213800MXAKR2LA1VBM44) 15.99% 21.83% - - 0%
UBS SWITZERLAND AG
(LEI: 549300WOIFUSNYH0FL22) 4.65% 32.49% - - 0%
LIQUIDNET EUROPE LIMITED
(LEI: 213800ZIRB79BE5XQM68) 3.47% 0.51% - - 0%

NATIXIS 0.27% 3.55% - - 0%

(LEI: KX1WK48MPD4Y2NCUIZ63)
Client Type Retail Clients
Execution Type Execute
Class of Instrument Securitized Derivatives - Other securitized derivatives
Notification if <1 average trade per
business day in the previous year No

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
100.00% 100.00% 2.93% 97.07% 0%
(LEI: PSZXLEV07O5MHRRFCW56 )

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Securitized Derivatives - Other securitized derivatives
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
in terms of trading volumes traded as a percentage of executed as percentage of orders orders orders
(descending order) total in that class total in that class

Banque de Luxembourg
(LEI: PSZXLEV07O5MHRRFCW56 ) 100.00% 100.00% 0% 100% 0%

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Securitized Derivatives - Other securitized derivatives
Notification if <1 average trade per business
day in the previous year No

Top five execution venues ranked in terms of Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
trading volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

BANQUE FEDERATIVE DU CREDIT MUTUEL 29.19% 2.07% - - 0%

(LEI: VBHFXSYT7OG62HNT8T76)
SOCIETE GENERALE PARIS
14.22% 12.97% - - 0%
(LEI: O2RNE8IBXP4R0TD8PU41)
UBS SWITZERLAND AG
(LEI: 549300WOIFUSNYH0FL22) 13.52% 25.94% - - 0%
KEPLER CHEUVREUX
(LEI: 9695005EOZG9X8IRJD84) 6.24% 10.21% - - 0%

BNP PARIBAS S.A. PARIS

4.34% 3.30% - - 0%
(LEI: R0MUWSFPU8MPRO8K5P83)

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Securitized Derivatives - Other securitized derivatives
Notification if <1 average trade per business
day in the previous year No

Top five execution venues ranked in terms of Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
trading volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

MORGAN STANLEY AND CO INTERNATIONAL

PLC 17.14% 25.16% - - 0%
(LEI: 4PQUHN3JPFGFNF3BB653)
NATIXIS 12.13% 7.32% - - 0%
(LEI: KX1WK48MPD4Y2NCUIZ63)
COMMERZBANK AG FRANKFURT 9.49% 13.30% - - 0%
(LEI: 851WYGNLUQLFZBSYGB56)
EFG BANK ZUERICH
7.32% 7.22% - - 0%
(LEI: 549300TBS2M2ML45V909)

MARKET SECURITIES 7.19% 9.77% - - 0%

(LEI: 1ZU7M6R6N6PXYJ6V0C83)
Client Type Retail Clients
Execution Type Execute
Class of Instrument Commodities derivatives and emission allowances Derivatives - Options and Futures admitted to trading on a trading venue
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Commodities derivatives and emission allowances Derivatives - Options and Futures admitted to trading on a trading venue
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
ranked in terms of trading traded as a percentage of executed as percentage of orders orders orders
volumes (descending total in that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Commodities derivatives and emission allowances Derivatives - Options and Futures admitted to trading on a trading venue
Notification if <1 average trade per business
day in the previous year
Yes

Top five execution venues ranked in terms of Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
trading volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

JP MORGAN SECURITIES LTD / F&O LONDON 100.00% 100.00% - - 0%

(LEI: K6Q0W1PS1L1O4IQL9C32)
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Commodities derivatives and emission allowances Derivatives - Options and Futures admitted to trading on a trading venue
Notification if <1 average trade per business
day in the previous year
Yes

Top five execution venues ranked in terms of Proportion of volume Proportion of orders Percentage of passive Percentage of aggressive Percentage of directed
trading volumes (descending order) traded as a percentage of executed as percentage of orders orders orders
total in that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Commodities derivatives and emission allowances Derivatives - Other commodities derivatives and emission allowances derivatives
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
in terms of trading volumes as a percentage of total in executed as percentage of orders orders
(descending order) that class total in that class

Banque de Luxembourg
(LEI: PSZXLEV07O5MHRRFCW56 ) 100% 100% 0% 100% 0%

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Commodities derivatives and emission allowances Derivatives - Other commodities derivatives and emission allowances derivatives
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
in terms of trading volumes as a percentage of total in executed as percentage of orders orders
(descending order) that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Commodities derivatives and emission allowances Derivatives - Other commodities derivatives and emission allowances derivatives
Notification if <1 average
trade per business day in the Yes
previous year

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending order) that class total in that class

- 0% 0% - - -

- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type
Class of Instrument
Notification if <1 average
trade per business day in the
previous year
Receipt and Transmission of Order
Commodities derivatives and emission allowances Derivatives - Other commodities derivatives and emission allowances derivatives
Yes

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending order) that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Contracts for difference
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Contracts for difference
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Contracts for difference
Notification if <1 average
trade per business day in the
previous year Yes

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending order) that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Contracts for difference
Notification if <1 average
trade per business day in the
previous year Yes

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending order) that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Exchange traded products (Exchange traded funds, exchange traded notes and exchange traded commodities)
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
in terms of trading volumes as a percentage of total in executed as percentage of orders orders
(descending order) that class total in that class

Banque de Luxembourg
(LEI: PSZXLEV07O5MHRRFCW56 ) 100% 100% 0% 100% 0%

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Exchange traded products (Exchange traded funds, exchange traded notes and exchange traded commodities)
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
in terms of trading volumes as a percentage of total in executed as percentage of orders orders
(descending order) that class total in that class

PSZXLEV07O5MHRRFCW56
100% 100% 0% 100% 0%
(Banque de Luxembourg)

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Exchange traded products (Exchange traded funds, exchange traded notes and exchange traded commodities)
Notification if <1 average trade per business
day in the previous year No

Top five execution venues ranked in terms Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
of trading volumes (descending order) as a percentage of total in executed as percentage of orders orders
that class total in that class

KCG EUROPE LIMITED

(LEI: 549300346EFUPFCXJT79) 49.94% 52.69% - - 0%

INSTINET EUROPE LIMITED

(LEI: 213800MXAKR2LA1VBM44) 11.79% 14.02% - - 0%

FLOW TRADERS 10.50% 23.41% - - 0%

(LEI: 549300CLJI9XDH12XV51)
KEPLER CHEUVREUX
(LEI: 9695005EOZG9X8IRJD84) 7.98% 4.97% - - 0%

INVESTMENT TECHNOLOGY GROUP DUBLIN 7.28% 2.62% - - 0%

(LEI: 213800EEC95PRUCEUP63)

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Exchange traded products (Exchange traded funds, exchange traded notes and exchange traded commodities)
Notification if <1 average trade per business
day in the previous year No

Top five execution venues ranked in terms Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
of trading volumes (descending order) as a percentage of total in executed as percentage of orders orders
that class total in that class

KCG EUROPE LIMITED

(LEI: 549300346EFUPFCXJT79) 33.23% 64.50% - - 0%

NATIXIS 12.85% 1.55% - - 0%

(LEI: KX1WK48MPD4Y2NCUIZ63)
KEPLER CHEUVREUX
(LEI: 9695005EOZG9X8IRJD84) 8.48% 6.20% - - 0%

INVESTMENT TECHNOLOGY GROUP DUBLIN 7.84% 6.28% - - 0%

(LEI: 213800EEC95PRUCEUP63)
NATIXIS SECURITIES 7.81% 0.30% - - 0%
(LEI: 9695005MSX1OYEMGDF46)
Client Type Retail Clients
Execution Type Execute
Class of Instrument Emission allowances
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Emission allowances
Notification if <1 average
trade per business day in
the previous year Yes

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending that class total in that class
order)

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Emission allowances
Notification if <1 average
trade per business day in the
previous year Yes

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending order) that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Emission allowances
Notification if <1 average
trade per business day in the
previous year Yes

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending order) that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Execute
Class of Instrument Other instruments
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
in terms of trading volumes as a percentage of total in executed as percentage of orders orders
(descending order) that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Execute
Class of Instrument Other instruments
Notification if <1 average trade per
business day in the previous year Yes

Top five execution venues ranked Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
in terms of trading volumes as a percentage of total in executed as percentage of orders orders
(descending order) that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -
Client Type Retail Clients
Execution Type Receipt and Transmission of Order
Class of Instrument Other instruments
Notification if <1 average trade
per business day in the previous Yes
year

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending order) that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -

Client Type Professional Clients

Execution Type Receipt and Transmission of Order
Class of Instrument Other instruments
Notification if <1 average trade
per business day in the previous Yes
year

Top five execution venues Proportion of volume traded Proportion of orders Percentage of passive orders Percentage of aggressive Percentage of directed
ranked in terms of trading as a percentage of total in executed as percentage of orders orders
volumes (descending order) that class total in that class

- 0% 0% - - -
- 0% 0% - - -
- 0% 0% - - -

- 0% 0% - - -

- 0% 0% - - -