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ORDER EXECUTION POLICY
BWM Exchange™ – BWM Exchange is dedicated to treating you fairly when we initiate your orders.
We will always transact with you as a principal when initiating transactions on your behalf, unless you have stated that we do otherwise.
This document gives a summary of our Best Execution Policy, and constitutes a section of our terms of business. By assenting to the terms of our Customer Agreement, you are also assenting to the terms of our Order Execution Policy, as laid out in this document.
How do we distribute top execution?
When initiating orders on your behalf, we will carry out all rational steps to get the best possible result for you by entering those orders in line with our Order Execution Policy, and subject to any detailed guidelines you have received.
Our policy considers factors such as the nature of your orders, the precedence you have acknowledged to us as pertaining these orders, and the practices associated to the market in review, with the purpose of yielding a result which offers the finest balance across an array of differing factors.
However, BWM Exchange™ cannot guarantee that execution at our estimated prices (upon subtracting our fees which may be contained within the estimated price) will always yield prices which are as good or superior to a price you can obtain elsewhere.
By assenting to the terms of our Customer Agreement, clients are also assenting to the terms of BWM Exchange™ Order Execution Policy
BWM Exchange™ views you as a principal partner on our own account and we are not your representative, and thus we act as the exclusive execution spot for your orders.
In delivering the best execution, we take into consideration a number of factors. Price is rated as the most important, but we also factor in liquidity of the underlying market, size, odds of execution and speed.
The key means we will use to guarantee great execution is making sure that in our forex and CFD bid/offer prices calculations we deploy the market price for the principal reference asset to which your deal relates. In a bid to generate our prices, we link to a number of varying data sources.
Our bids will not be equivalent of the cash worth for the underlying. This is in line with financial factors at the time we receive your order, there may be no open exchange market on which the product can be exchanged. In reference to those, BWM Exchange™ set out to fix a rational underlying price based on a number of influences, for instance price actions on related markets and other market factors, together with data about our clients’ own orders.
Our fees may be added as a mark-up or mark-down (the change flanked by the price at which we take a key spot in addition to the contract execution price with you). Periodically BWM Exchange™ may charge a fee or a combination of fee and mark-up or mark-down. We do not take into account our charges in defining best execution prices.
When we receive specific instructions from you, they take priority over other features of our policy.
BWM Exchange™ may aggregate your orders with those of other customers of ours as a single order during execution. At this point we rationally believe that this is in the general best interests of our customers and is not likely to work generally to your detriment. Nonetheless, such combination may work to your detriment in relation to a specific order.
No legal duty
Our commitment to Grade A execution does not imply we owe you or have any legal responsibilities aside those enacted by relevant regulations and agreed in the Customer Agreement.
Watching and review
BWM Exchange™ will watch the success of our order execution measures and execution policy in a bid to pinpoint and, where applicable, correct any deficits.
Trading Strategy or Internet Connectivity Execution interruptions
BWM Exchange™ may encounter delays in execution outside our control, which may be as a result of technical botches or glitches in connection with use of the trading strategies or internet connectivity or handling speed for which we are not liable.