Legal and Regulatory Information
Legal Notices
Exotix Limited
Registered Office Address: 1st Floor Watson House, 54 Baker Street, London W1U 7BU
Contact: Dilantha Goonetillake, General Counsel
Facsimile: + 44 20 7725 1100
Telephone: + 44 20 7725 1000
Group Structure
Exotix Holdings Limited (registered in England, number 6112861) is the holding company of the Exotix Group. Exotix Holdings Limited is owned by (1) ICAP Plc (the world’s largest interdealer broker and a FTSE 100 company, http://www.icap.com/), (2) IPGL Limited (the private investment company headed by Michael Spencer, which holds a 20% interest in ICAP within its portfolio of investments) and (3) PBAC Limited (a vehicle to pool employee ownership).
Europe
In Europe the Exotix group trades through Exotix Limited.
Place of registration: England
Company Registration Number - 2056541
Trading Address: 1st Floor Watson House, 54 Baker Street, London W1U 7BU
Regulator - The Financial Services Authority
FSA Registration Number - 142605
VAT Registration Number – 899 5343 55
Compliance Contact: David Baskerville, Chief Operating Officer
Exotix Limited has wide ranging permissions that encompass almost all financial instruments and activities, including the holding of client money and assets. The full list of permissions can be accessed at http://www.fsa.gov.uk/register/firmPermissions.do?sid=61277. Exotix Limited approved persons can be accessed on the FSA Register, http://www.fsa.gov.uk/register/firmIndivSearch.do?sid=61277.
The role of Exotix
Exotix is licensed to provide a number of different financial services but the core business activity is providing liquidity to both buyers and sellers of financial instruments.
When intermediating in the financial markets Exotix will act in either a principal or agency capacity. When acting as principal Exotix will purchase and sell financial instruments in either its own name or that of its settlement agent, ICAP Securities Limited. ICAP Securities Ltd is a major trading subsidiary of the ICAP group and assumes settlement risk for and on behalf of Exotix. More information about ICAP’s relationship with Exotix can be found at http://www.icap.com/markets/interest-rates/exotix.aspx.
Further details on the nature of the service the Broker, as an Inter-Dealer Broker, provides to its clients can be found at: http://www.wmba.org.uk/execution_policy/annex_2.doc.
Exotix Anti-Money Laundering/Financial Crime Policy Statement
ICAP is committed to the prevention of financial crime such as money laundering and the funding of terrorist activity. Through risk-based internal procedures, policies, systems and controls, ICAP strives to ensure that high standards of crime prevention and awareness are maintained by its management and staff around the globe.
MiFID
Following the implementation of the Markets in Financial Instruments Directive (MiFID) in the UK, we are required by the FSA to provide terms of business and a best execution and order handling policy. These documents are provided below.
Execution and Order Handling Policy:
This Policy applies to broker services provided to you by the regulated members of the Exotix Group referred to in our standard terms of business, as notified to you from time to time. This Policy should be read in conjunction with the terms of business.
The Policy sets out the arrangements Exotix has put in place to meet its obligations under the Markets in Financial Instruments Directive (MiFID) to give best execution to Professional Clients and to comply with client order handling rules. MiFID’s best execution regime requires us to take all reasonable steps to obtain the best overall trading result for Customers, taking into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to order execution whether we are executing orders, on behalf of Customers or placing orders with, or passing orders, to others for execution.
Exotix Execution Policy_September 2009
Terms of Business:
Exotix Terms of Business September 2009
Conflicts of Interest Policy:
Under FSA’s Principles for Businesses, Principle 8 requires a firm to “manage conflicts of interest fairly, both between itself and its customers and between a customer and another client.” Under the Markets in Financial Instruments Directive (“MiFID”) Exotix is required to maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to identify, monitor and manage such conflicts of interest. The Exotix Group of companies has put in place a policy to meet this obligation and set out below is a summary of that policy and the key information that is needed by clients and counterparties (together “customers”) to understand the measures Exotix is taking to safeguard the interests of its customers.