Ascot Securities as a Market Participant has an obligation to obtain the best outcome for its clients when handling and executing client orders in Equity Market products.Ascot has introduced a Best Execution Policy designed to ensure that your orders receive best execution in accordance with the instructions you give to your adviser.  At Ascot, we are committed to best execution across our entire organisation.  Our trading desk exclusively executes client orders.  We do not operate a principal trading desk and therefore our priority will always be ensuring that your instructions are dealt with in your best interests.

What is best execution?

As a Market Participant of the ASX,Ascot is obliged to comply with the ASIC Market Integrity Rules and in particular Rule 3.1.1 which ensures that Ascot will take reasonable steps to obtain the best outcome for clients when executing their orders.

In this context best outcome for our clients will mean the best total consideration achievable subject to client instructions.

Ascot relies primarily on ASXs’ ultra-low latency cash market trading platform ASX Trade which allows us to best execute with due reference to client order priority and instructions.Within ASX Trade, TradeMatch is ASXs’ normal,visible,trading system supporting a range of order types allowable under ASX Trading rules.In addition ASX offers Centre Point which is ASXs’ anonymous mid-point matching service which also allows a number of trading types.Ascot believe that within these ASX products and together with our execution platform provider , Iress ,we satisfy the best execution needs of our clients.

Ascot clients can opt not to participate in Centre Point however we believe that Centre Point is an important adjunct to achieving Best Execution

Ascot recognise that there may be other exchanges available from time to time but believe participation outside the ASX is neither appropriate nor necessary to achieve Best Execution for our clients.

In the case of Wholesale Clients, Ascot can arrange third party access to alternate markets upon request

Ascot will continue to re-evaluate this policy when and where it is necessary

Ascot will post any revised versions of this policy at www.ascotsecurities.com.au/privacypolicy.  This policy is current as of 21 July 2014.