MiFID II Disclosures

Best Execution & Cost Transparency

TeleTrade is committed to execution quality and transparency for its clients. According to our Best Execution Policy, major execution factors that influence the quality of our service are price and likelihood of execution of the client orders. TeleTrade discloses the execution quality scorecard for the above factors on a quarterly basis, for all types of accounts. Statistics include all valid market and pending/limit order requests received via the MetaTrade platform, excluding trader orders received orally or in writing.

TeleTrade strives to provides information on transactional costs. This information allows clients to choose the most appropriate account type for their needs and to plan their investments accordingly. Cost transparency information below shows the average impact of transaction costs per notional USD 1000 of trading volume on a quarterly basis.

Trading costs affect net profitability of a client account. The client should take these costs into consideration. For example, on a Standard Account, the net profitability of a trade can reasonably be expected to be, on average, 3 percent lower compared to the gross profitability.

Swap depends on the length of time in which a position is held open. For intra-day trading, cost of investment would be reduced, on average, from 3 percent to 2.6 percent on a Standard Account, and from 2.9 percent to 2.3 percent on an NDD Account.

Trading costs may vary significantly depending on the specific instrument being traded. For example, spreads on Exotic/non-Major currency pairs may be much higher than spreads on Major currency pairs. For detailed information about Spreads and Swaps on each instrument offered for each account type please refer to our trading conditions at https://www.teletrade.eu/trade/condition-mt4/forex, https://www.teletrade.eu/trade/condition-ndd-mt4/forex, https://www.teletrade.eu/trade/condition-mt5/forex.

Quality of Execution of Transactions

In accordance with the Law 87(I)/2017 and EU Regulation 2017/575, the Company is required to make public on an quarterly basis, for each financial instruments, per day, the execution quality achieved (RTS27). Such information will be published on the Company's website, and will be available in the public domain for a minimum period of two years.

Information on the top five execution venues and brokers

In accordance with the Law 87(I)/2017 and EU Regulation 2017/576, the Company is required to make public on an annual basis, for each class of financial instruments, the top five execution venues in terms of trading volumes where it executed client orders in the preceding year and information on the quality of execution obtained (RTS28). Similar information will be reported with respect to the top five investment firms (e.g. brokers) where the Company transmitted or placed client orders for execution in the preceding year. Such information will be published on the Company's website, and will be available in the public domain for a minimum period of two years

Pillar III Market Discipline and Disclosure Reports

TeleTrade publishes annual Pillar 3 reports in accordance with Part Eight of European Regulation (EU) 575/2013 ('Pillar III disclosures'), with the aim to encourage market discipline by allowing market participants to assess key pieces of information on risk exposures and the risk assessment processes of the Company. Pillar 3 provides disclosure of specified information about the underlying risk management controls and capital position, and is a part of the revised regulatory capital framework across Europe governing the amount and nature of capital investment that firms must maintain.