1. Explanation of the relative importance Upvest 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
The client always instructs Upvest on which execution venue the order has to be executed, which supersedes any other criteria.
Furthermore, Upvest conducts regular reviews of the quality of execution. For such reviews, the following factors are taken into account: price, costs, speed, likelihood of execution, size and nature of the order.
2. Description of any close links, conflicts of interests, and common ownerships with respect to any execution venues used to execute orders
Upvest has no close links, conflicts of interests, and common ownerships with respect to any execution venues used to execute orders.
3. Description of any specific arrangements with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received
Upvest has contractual partnerships with the execution venue, as described in the principles for dealing with conflicts of interest. The information regarding inducements are also disclosed in the cost information. These inducements enable clients to trade financial instruments at lower overall costs and also enables Upvest to develop an efficient and high-quality infrastructure and offer a range of financial instruments.
4. 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
Upvest started its business activity in 2022. Therefore, this is the first report created and Tradegate Exchange has been added to the list of execution venues.
5. 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
In 2022, all Upvest clients were categorized as retail clients. Therefore, there was no difference depending on the client categorisation.
6. 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
The client always instructs Upvest on which execution venue the order has to be executed, which supersedes any other criteria.
7. Explanation of how the investment firm has used any data or tools relating to the quality of execution, including any data published under Delegated Regulation (EU) 2017/575
Order and market data as well as data published by the trading venues offered for execution in accordance with Commission Delegated Regulation (EU) 2017/575 (RTS 27) were used to determine execution quality.
8. 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
Download here: Top 5 Execution Venues 2022