MIFID II Consent Information

Consent to execution outside a Trading Venue

Davy facilitates trading in a wide range of instruments across multiple asset classes, referred to as “Financial Instruments”, which includes instruments that are traded on EU Regulated Markets (“RMs”), EU Multilateral Trading Facilities (“MTFs”) and EU Organised Trading Facilities (“OTFs”) (collectively known as “Trading Venues”). 

The new category of a Trading Venue called an “OTFs” was introduced by MiFID II.  An OTF is a multilateral system that is not a RM or MTF.  Within an OTF, multiple third-party buying and selling interests in bonds, structured finance products, emission allowances or derivatives are able to interact in a way that results in a contract.  In the event that a client requests Davy to execute orders in Financial Instruments, Davy may execute those orders outside of an RM, MTF or OTF. In these circumstances, Davy must obtain its client’s express consent to do so.

This consent is required in relation to any transaction in which Davy may enter into with on an over-the-counter (“OTC”) basis in relation to a Financial Instrument.  However, this does not relieve Davy of the obligation to execute any orders in accordance with any specific instructions that Davy accepts from the client, in relation to the way in which Davy may execute the market-facing side of any order.

Consent to providing information through our website

Where we have a requirement to provide you with certain information we are permitted to provide that information to you on an unpersonalised basis via our website, where we have your consent to do so. 

We will notify you separately and in advance of the details of any such website where we propose to rely on this method of disclosure.

We require you to consent to us providing the information set out below in this way;

General information about us and our services

  • Information about the nature and risks of certain financial instruments
  • Information concerning the safeguarding of financial instruments and holding of client money
  • Information on costs and associated charges
  • Information about our execution policy