指令执行政策.pdfVIP

Order Execution Policy 指令执行政策 Order Execution Policy 指令执行政策 _____________________________________________________________________________________ Introduction 引言 This document contains the most important and relevant elements of the FXCM Group order execution policy and arrangements to enable clients to make a properly informed decision about the use of FXCM Group transaction execution services. 本文件载有福汇集团指令执行政策及安排的最重要及相关的元素，以使客户得以就使用福汇集团 的交易执行服务作出具备适当根据的决定 。 Application of Best Execution Obligation 最佳执行责任的应用 FXCM Group is obliged to take all reasonable steps to obtain, when executing orders, the best possible result for its clients (“best execution”) taking into account the execution factors (noted below) where FXCM Group acts on behalf of a client. 倘福汇集团代表客户行事，福汇集团有责任在执行指令时采取一切合理步骤，及于考虑到执行因 素(见下文)后，为客户取得最佳可能结果( 「最佳执行」) 。 Whenever there is a specific instruction from a client FXCM Group shall execute the order following the specific instruction and compliance with that specific instruction will be treated as satisfaction of the best execution obligation. 每当客户发出特定指示，福汇集团须根据特定指示执行指令，而遵照该特定指示将视作履行最佳 执行责任 。 Best Execution Factors and Criteria 最佳执行因素及标准 When executing a client order, FXCM Group may take into account the following criteria for determining the relative importance of price, costs, speed, likelihood of execution and settlement, size and any other consideration relevant to order execution (the “execution factors”): 在执行客户指令时，福汇集团可能会考虑以下标准，以厘定价格的相关重要性、成本、速度、执 行及交收的可能性、规模及与指令执行相关的任何其他考虑因素( 「执行因素」) ： (a) the characteristics of the client including their classification as retail or professional; 客户的特点，包括其作为零售或专业客户的分类 ； (b) the characteristics of the client order; 客户指令的特点