Our Best Execution Policy

In July 2007, the German Act implementing the Markets in Financial Instruments Directive and the implementing Directive (Gesetz zur Umsetzung der Richtlinie über Märkte für Finanzinstrumente und der Durchführungsrichtlinie der Kommission – Finanzmarktrichtlinie-Umsetzungsgesetz) was published. The various new regulations coming into force on 01 November 2007 relate to securities, derivatives and money-market instruments.

The European Union has two main objectives in implementing these uniform pan-European regulations: to strengthen competition between financial markets and to enhance client protection. It aims to achieve these objectives by increasing market transparency and through harmonised European supervisory rules for the provision of investment services. In the light of this, in future we are required to classify clients into legally determined categories on which the level of protection provided to them depends. A distinction is now made between retail clients, professional clients and eligible counterparties.

In order to ensure that the orders transmitted to us are executed to the best possible standards, we have devised a Best Execution Policy. Furthermore please find our information leaflet “Client Information: Steubing AG conflicts of interest policy”.

Management Board: Carsten Bokelmann