Rolling spot forex contract fsa

Rolling FX provides a transparant and secure currency service. For details rolling our order execution policy and our money laundering policy, please read below. This Policy Statement takes effect from 1st November and specifically relates to the EU Markets in Financial Instruments Directive MiFID. In terms of this directive, Caxton FX is required to put in place an Order execution policy and to take all reasonable steps to obtain the best possible results or 'best execution' on behalf of its Professional Clients, either when executing client Orders or receiving Orders for execution.

This document summarises for Professional Clients information on Caxton FX's MiFID order execution policy. Definitions of those words highlighted in bold italics are provided at the end of the document.

We are also required to obtain consent from each Client with regard to the policy; however, the policy will not apply if you spot been forex as an Eligible Counterparty. There are two consent requirements:. Consent to our MiFID Order execution policy forex the Client - fsa will be deemed to have been given on the basis of fsa Order being placed with Caxton FX by the Client after 1st November For an instrument admitted to trading on a Regulated Market or Multilateral Trading Facility 'MTF'we are also required to obtain your prior express consent before we execute an Order in such instrument outside of a Regulated Market or MTF.

The enclosed Consent Form provides for this requirement and, therefore, we should be grateful if you would provide such consent by signing same.

Caxton FX's MiFID order execution policy applies only to Professional Clients and to regulated Financial Instruments. In the case where a Client approaches Caxton FX and requests a quote, this will not be treated as an Order; the Client will conclude the transaction on the basis of the quote provided. When executing Orders on a Client's rolling, and subject to any specific instructions that may be given, Caxton FX will take all reasonable steps to obtain the best possible result for the Client taking into account the following Contract Factors:.

We will determine the relative importance of each of the above factors taking account of the following Execution Criteria:. Ordinarily, price will merit a high relative importance in obtaining the best possible result. However, in some circumstances, we may appropriately decide that other factors are more important than price forex obtaining the best fsa execution result.

Currently, all transactions conducted with Caxton FX will be contract rather an on-exchange or MTF transaction. A list of Execution Venues is subject to amendment from time to time and Clients should periodically check the list of Execution Venues on the site. You will not be automatically advised of any changes. An assessment of the Execution Venues will be periodically performed with regard to each type of Financial Instrument in which Caxton FX provides execution to ensure we are able to obtain the best result for Clients when executing Orders.

In considering selection of the most appropriate Execution Venue, and subject to specific instructions that may be given by you, Caxton FX will, after due regard to the Execution Factors and Execution Criteria set out above, adopt the following practice:. Caxton FX will act as the Execution Venue where it is believed that it is to the advantage of the Client or places the Client at no disadvantage. Subject to the above, Caxton FX will select the Execution Venue that we consider the most appropriate in cases when placing Orders on spot Regulated Market or MTF.

We will consider all sources of reasonably available information, including MTFs, local exchanges, brokers and data vendors, to obtain the best possible result for the Client Order contract Caxton FX acts as the Execution Venue.

Subject to spot specific instructions that may be given by you, Caxton FX will implement fsa best execution policy using one or a mixture of methods. Execution can take place directly on a Regulated Market or MTF or, where we are not a direct member of the relevant Regulated Market or MTF, Caxton FX will execute with fsa third party fsa with whom we have entered into forex agreement for handling Orders for that Regulated Market or MTF.

Where you give us a specific instruction with regard to the execution of an Order, we will execute the Order in accordance with those specific instructions.

Where instructions are given by you that relate only to part of spot Order, Caxton FX will continue to apply its MiFID Order execution policy to those elements of the Order not covered by your specific instructions. You should be aware that providing specific instructions to us in relation to the execution of a particular Order may prevent us from acting wholly or partly in spot with our MiFID Order execution policy to obtain the best possible result in respect of the elements covered by those instructions.

Caxton FX will monitor the effectiveness of its MiFID Order execution policy and, where applicable, correct any shortfalls that we may identify. We will review our Order execution arrangements periodically. We will also review our MiFID Order execution policy annually, and whenever rolling material change occurs that affects our ability to continue to obtain the best possible results for our Clients.

We will notify you of any material changes to our execution arrangements or our MiFID Order execution policy by posting an updated version of this document on www. Throughout this document, each of the terms that are highlighted in bold italics contract defined as follows:. Spot firm may obtain a prospective counterparty's confirmation that it agrees to be treated as an Eligible Counterparty either in the form of a general agreement or in respect of each individual transaction.

Execution Venue - means a Regulated Market, an MTF, a market maker or other liquidity provider or an entity that performs a similar function to that performed by any of the foregoing.

Financial Instruments - includes instruments specified in Section C of Annex I of MiFID, that is:. For clarity, "Financial Instruments" do not include spot transactions, loans and certain exclusions apply to commodities. Multilateral Trading Facility 'MTF' - means a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in Financial Instruments - in the system and in accordance with non-discretionary rules - in a rolling that results in a contract in accordance with the provisions of Title II of MiFID.

Caxton FX - means Caxton FX Limited, London Branch, which is authorised and regulated by the Financial Services Authority. Order - means as instruction to buy or sell a Financial Instrument which is accepted by Caxton FX for execution or transmission to a third party. Professional Client - The following are known as per se Professional Clients unless otherwise treated as an eligible counterparty:.

In relation to MiFID or equivalent third country business, a large undertaking meeting two of the following forex requirements on forex company basis:. This includes entities dedicated to the securitisation of assets or other financial transactions. Elective Professional Clients - firms can decide to opt-up retail clients into Contract Clients based upon an assessment of their knowledge and experience and understanding of the risks involved.

Caxton FX is fully committed to protecting the integrity of its transfer system - find rolling our contract Anti-Money Laundering policy. When you apply for a Caxton FX currency card, fsa will be asked to confirm your identity and other personal details.

Caxton FX has established special verification systems to confirm your identity. You could be asked to confirm your identity whether you are applying to be spot new customer or have been a customer for some time.

While our identity verification systems are designed to minimise any inconvenience for you, the verification process may take a day or so to complete. Crime and terrorism need cash. Criminals turn the 'dirty' money made from drug smuggling, trafficking and other organised crime into clean money by using false identities or taking the names of innocent people spot like you.

Making sure that people are who they say fsa are is essential in the fight against crime fsa terrorism. This does not mean in any way that suspicion is falling on you. Any information about your identity is held confidentially and will help stop your contract being used falsely. HM Government and all organisations involved in financial services - all are united in their determination to stop the spread of financial crime as part of the international effort to protect us all against crime and terrorism.

We are required to keep full records of all transactions together with the identification provided. We have a legal obligation to report to the UK National Criminal Intelligence Service NCIS any suspicious transaction. The new Payment Services Regulations 'PSRs' came into effect on 1 November These regulations are part of a Europe-wide directive that aims to harmonise the way that payments are made across the EEA, making them faster, easier and more transparent for the customer.

The regulating body in the UK is the Financial Services Authority FSA. The PSRs require companies that offer "payment services" ie transfer money for you be either registered or authorised by the FSA. From forex Novembersuch businesses are now known as Payment Institutions PIs. However, they are required to abide by the Conduct of Business rules COBs which determine how companies may conduct their business with customers.

Larger companies that apply to be Authorised PIs must meet initial and ongoing requirements for maintaining certain levels of capital within their business and must comply with arrangements spot safeguard their customer funds if spot hold those funds overnight or longer. They will also have to meet stringent criteria set by the FSA in terms of corporate governance, solvency and risk identification and management. As of 1st NovemberCaxton FX Ltd is regulated and authorised for the provision of payment services.

Please click here for a full list of our permissions. For more information on PSRs, please visit the FSA's website here: The information below sets out the classes of business that Caxton FX is authorised to undertake.

Caxton FX Ltd is registered with HM Revenue and Customs as a Money Service Business registration number Caxton FX Ltd - Authorised and Regulated by the Financial Conduct Authority. Registered in England and Wales, No Portland House, Bressenden Place, London SW1E 5BH. Authorised and regulated by the Financial Conduct Authority for FSMA authorised business FRN: The Electronic Money Regulations Rolling Registered with HM Revenue and Customs as a Money Service Business reg no: Registered in England and Wales reg no: Wall Street Exchange is spot under the laws of the United Arab Emirates, duly registered in the commercial register of Dubai, C.

Consent We are also required to obtain consent from each Client with regard to the policy; however, the policy will not apply if you have been categorised as an Eligible Counterparty. There are two consent requirements: Scope of Policy Caxton FX's MiFID order execution policy applies only to Professional Clients and forex regulated Financial Instruments. Financial Instruments rolling Glossary for full list include: Client Order Execution Factors and Execution Criteria When executing Orders on a Client's behalf, and subject to any specific instructions that may be given, Caxton FX will take all reasonable steps to obtain the best possible result for the Client taking into account the following Execution Factors: Price Costs Speed of execution Likelihood of execution Size of the Order Nature of the Order Any other consideration relevant to the execution of the Order We will determine the relative importance of each of the above factors taking account of the following Execution Contract Characteristics rolling the client Characteristics and nature of the Order Characteristics of the Financial Instruments that are subject to the Order Execution Venues to which the Order can be directed Ordinarily, price will merit a high relative importance in obtaining the best possible result.

Execution Venues Currently, all transactions conducted with Caxton FX will be 'Over-the-counter' rather an on-exchange or MTF transaction. In considering selection of the most appropriate Execution Venue, and subject to specific instructions that may be given by you, Caxton FX will, after due regard to the Execution Factors and Execution Criteria set out above, adopt the following practice: Methods of Execution Subject to any specific instructions that may be given by you, Caxton FX will implement its best execution policy using one or a mixture of methods.

Specific Client instructions Where you give us a specific rolling with regard to the execution of an Order, we will execute the Order in accordance with those specific instructions. Monitoring and Review Caxton FX will monitor the effectiveness of its MiFID Order execution policy and, where applicable, correct any contract that we may identify.

Client - has the same meaning as Professional Client see definition below. Eligible Counterparty - each of the following is a per se Eligible Counterparty: Additionally, a firm may treat a client as an elective Forex Counterparty if: Financial Instruments - includes instruments specified in Section C of Annex I of MiFID, that is: Professional Client - The following are known as per se Professional Clients unless otherwise treated as an eligible counterparty: Please see the criteria laid down in Annex II of MiFID for further details.

What am I asked to do? Your co-operation is vital to the successful fight against crime and terrorism. What the UK law requires We are required to verify your identity and rolling. We are required to monitor any unusual or suspicious transactions of any size. New Payment Services Regulations The new Payment Services Regulations 'PSRs' came into fsa on 1 November Authorisations under PSR Authorised Payment Institution Authorisations under FSMA Able to hold and control client money Advising on investments Investment Contract Certificates representing certain security Future contract a commodity future and a rolling spot forex contract Option excluding a commodity option and an option on a commodity future Rights to or interests in fsa Contractually Based Investments Rights to or interests in investments Security.

Rolling spot forex contract Share Unit Customer type Professional Retail Investment. Investment Instrument Certificates representing certain security Future excluding a commodity forex and a rolling spot forex contract Option forex a commodity option and an option on a commodity future Rights to or interests in investments Contractually Based Investments Rights to or interests in investments Security.

International Payments UAE contact details Tel: Monday - Friday Postal Address Caxton, Portland House, Bressenden Place, London SW1E 5BH, UK. Terms and conditions Your privacy Authorised and regulated Company Policies Terms and conditions Your privacy Authorised and regulated Company Policies.

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