Best Execution - New Regulatory Technical Standards

HSBC Global Private Banking is committed to taking all sufficient steps to obtain the best possible result for our clients when executing orders on their behalf.

MiFIID II

The MiFID II regulation requires that investment firms, as part of their best execution obligations, publish reports annually relating to their top five execution venues and brokers for trading volumes in respect of the preceding year. This will give greater clarity and transparency on the quality of execution obtained across different financial instruments. Accordingly from April 2018, we will disclose our order routing practices for client orders across each class of financial instrument as part of these new Regulatory Technical Standards (RTS 28). This will cover instances where we execute client orders ourselves or transmit client orders to other parties, including those parties within HSBC Group.

Best Execution applies to orders from both Retail and Professional clients (as defined by MiFID II). However, it is our approach within Private Banking to treat all clients as Retail for best execution.

The reports

The documents required under MiFID II on execution venue selection (RTS 28) will be available on this web page in accordance with the timetable given by the European Securities and Markets Authority (ESMA). As noted above these reports will include an analysis on the top five execution venues for each class of financial instrument and the quality of execution obtained.

Reports Reporting Period Expected Date Link
RTS 28 - HSBC Private Bank (Luxembourg) S.A. 2017 30 April 2018 PDF (268KB)
RTS 28 – HSBC Private Bank (UK) Limited 2017 30 April 2018 PDF (26KB)

Legal Information

The information on this site refers to services or products which are not available in certain locations, or which, in any relevant location, may have components, methods, structures and terms different from the ones described, as well as restrictions on client eligibility. Please contact a Relationship Manager for details of services and products that may be available to you.

The use of the label ‘HSBC Private Bank’, ‘we’, or ‘us’ refers to HSBC’s worldwide private banking business, and is not indicative of any legal entity or relationship.

This information is entirely qualified by reference to the terms and conditions of the specific service, if any, provided by the relevant HSBC company.

Nothing here is to be deemed an offer, solicitation, endorsement, or recommendation to buy or sell any general or specific product, service or security and should not be considered to constitute investment advice.

Please note that HSBC Private Bank does not provide Legal and Tax Advice.

Before proceeding, please refer to the full disclaimer and the Terms and Conditions. Read more