1 Aside from negative balance protection, there are some other differences between how professional and retail clients are treated. When talking to our retail clients we need to use clear language, and be very balanced when talking about the risks and benefits of leveraged trading. We can use more sophisticated language when talking to our professional clients. We may assume your level of knowledge and experience when assessing whether our products are appropriate for you. When executing your orders, we owe you a duty of best execution. For retail clients we must prioritise overall prices and cost of a transaction when giving best execution. As a professional client, we may prioritise other factors in giving best execution, such as speed and likelihood of execution if we determine they are equally or more important than overall price. In practice, we will not change the way we execute your orders.
2 Based on revenue excluding FX (published half yearly financial statements, June 2019).