Aggressive Order ‘Aggressive order’ means an order entered into the order book that took liquidity.
Broker Means street-side counterparties or intermediary through which ABL executes or transmits orders.
Client Order Client Order is a verbal, electronic, or written agreement to execute a transaction on behalf of a client regardless of whether ABL is acting in a principal, riskless principal or agency capacity in any of the Financial Instruments listed in Schedule 1 of the ABL Best Execution Policy.
Eligible Counterparty Eligible Counterparties are Investment Firms; credit institutions; insurance companies; UCITS and their management companies; pension funds and their management companies; other financial institutions authorized or regulated under community legislation or the national law of a Member State; undertakings exempted from the application of this Directive under Article 2(1)(k) and (l); national governments and their corresponding offices including public bodies that deal with public debt; central banks; and supranational organizations (Definition Directive 2004/39/EC, art. 24 (2)).
Execution Venue Execution Venue refers to Regulated Markets, MTFs or OTFs and other liquidity providers or entities that perform a similar function.
Investment Firm Investment Firm means any legal person whose regular occupation or business is the provision of one or more investment services to third parties and/or the performance of one or more investment activities on a professional basis.
MiFID II Markets in Financial Instruments Directive 2014/65/EU of 15 May 2014 (“MiFID II”).
Passive Order ‘Passive order’ means an order entered into the order book that provided liquidity.
Professional Client Professional Client means a client who possesses the experience, knowledge and expertise to be able to appropriately assess the risks associated with their own investment decisions (e.g. financial institutions, other authorized or regulated institutions, collective investment schemes and management companies of such schemes, pension funds, and other institutional investors). Retail Clients who fulfil two out of three criteria set up to demonstrate their knowledge and experience might also be considered Professional Clients upon their own request.
Retail Client Retail Client means a client who is not a Professional Client.
Total Consideration Price of the Financial Instrument and the costs relating to execution, which shall include all expenses incurred by the client that are directly relating to the execution of the order, including Execution Venue fees, clearing and settlement fees and any other fees paid to third parties involved in the execution of the order.