This policy sets out how Ethio Fidelity Securities S.C. seeks to obtain the best possible result for clients when executing their orders.
Our obligation
We take all sufficient steps to obtain the best possible result for you when executing an order on your behalf. This is an obligation as to process, not a guarantee of the best available price on every individual transaction. Markets move, and depth varies; what we commit to is a consistent and documented approach designed to deliver the best overall outcome.
Execution factors
In determining how to execute an order we consider price, the costs of execution, speed, likelihood of execution and settlement, the size and nature of the order, and any other consideration relevant to its execution. For retail clients, the total consideration. The price of the security together with all associated costs: is ordinarily the most important factor.
Execution venue
Orders in securities admitted to trading on the Ethiopian Securities Exchange are executed on that exchange, of which the firm is a Trading Member.
Specific instructions
Where you give us a specific instruction about how an order is to be executed, we will follow that instruction. Doing so may prevent us from taking the steps set out in this policy in respect of the elements covered by your instruction.
Order handling
Comparable client orders are executed sequentially and promptly unless the characteristics of the order or prevailing market conditions make that impracticable, or your interests require otherwise. Client orders take priority over orders for the firm's own account.
Large orders
Where an order is large relative to available depth, executing it immediately may move the price against you. In those cases we will discuss timing and sizing with you before going to market.
Monitoring and review
We monitor the effectiveness of this policy and review it at least annually, and whenever a material change occurs that affects our ability to obtain the best possible result. Clients are notified of material changes.
Consent
By placing an order with us you consent to this policy.