TRADABLE PRODUCTS

Retail Clients can buy most shares of listed companies, as well as many investment products designed for retail investors such as simple Exchange Traded Funds (ETFs) and mutual funds. For these products, provided on an execution-only (non-advisory) basis, we do not need to assess whether your investment transaction is appropriate for you.

Note that exchange traded funds listed on non-EU markets will generally not be available for trading by Retail Clients who are residents of EEA countries. This is because the PRIIPs regulation requires the issue of a Key Information Document (KID) that is usually not made available by product manufacturers outside of the EU. This restriction generally does not apply to Retail Clients who are not resident in an EEA country.

Certain investment products, such as certain ETFs that use leverage or derivatives, are deemed “complex” and require us to understand your level of knowledge and experience of these products before we execute a transaction for you. For such products, you will be required to take an online appropriateness questionnaire, the scoring of which will determine if you have the appropriate level of knowledge for trading the product. 

Investors may use derivatives (Options or Futures) in a portfolio for different strategies, including to hedge current positions and for income generation. Investors may also use derivatives to speculate on the future price of an asset — whether up or down — and can do so by committing less funds up front than by buying or selling the underlying asset. Derivatives are deemed “complex” and require us to determine if they are appropriate for you based on your knowledge and experience. To trade these products, you will be required to take our Appropriateness Test(s). The scoring of which will determine if you have the appropriate level of knowledge for trading the product. 

Structured Products have become an established part of the retail financial products landscape. This large product family includes warrants, leverage products with knock-out such as knock-out warrants and mini-futures; as well as certificates featuring conditional capital protection, yield enhancement or participation.

These products that use derivatives or leverage are deemed “complex” and require us to determine if they are appropriate for you based on your knowledge and experience. To trade these products, you will be required to take our Structured Investment Products Appropriateness Test. The scoring of which will determine if you have the appropriate level of knowledge for trading the product.