Ravenscroft (CI) Limited, Ravenscroft Investment Management Limited and Ravenscroft Cash Management Limited
At Ravenscroft, our clients come first. This policy documents the ways in which Ravenscroft seeks to ensure it provides best execution to its clients.
As a regulated investment firm, there are a number of principles that must be adhered to. Those of most relevance are included in the ‘Jurisdictional Requirements’ section below.
To ensure that Ravenscroft adheres to regulatory requirements in relation to timely and best execution, which means obtaining the best possible results for its clients when carrying out transactions on their behalf.
RL-CI, RIML and RCML adhere to the Guernsey Financial Services Commission’s (‘GFSC’) Licensees (Conduct of Business) Rules 2016.
The most relevant principles in relation to this policy are that RL-CI, RIML and RCML:
RL-CI in Jersey adheres to the Jersey Financial Services Commission’s (‘JFSC’) Code of Practice for Investment Business.
The most relevant principles in relation to this policy are that RL-CI must:
Ravenscroft’s Best Execution Policy applies to all client types in Guernsey and Jersey, bar the following exception:
Ravenscroft will deal with client orders and its own orders fairly and in due turn.
Once Ravenscroft has decided in its discretion or agreed to place a client order, it will effect or arrange the execution of the order as soon as reasonably practicable in the circumstances.
Ravenscroft can postpone execution of an order if it believes it is in the client’s best interests to do so.
Ravenscroft seeks to provide best execution, unless a specific instruction has been received from the client in writing.
As a member firm, Ravenscroft executes trades directly through the London Stock Exchange (LSE) or The International Stock Exchange. It also uses the services of market makers and other counterparties when executing orders in the UK and internationally, predominantly relying on:
Ravenscroft only utilises the services of execution venues/market makers/counterparties which it believes accord with its Best Execution Policy.
Best execution is achieved if Ravenscroft:
In applying best execution, Ravenscroft has regard to the:
Speed of execution, likelihood of execution and settlement, size and nature of the order, market impact and any other implicit transaction costs will only be given precedence over the immediate price consideration insofar as they are instrumental in delivering the best possible result for our clients.
Ravenscroft will ensure that any transactions it executes are promptly allocated.
Where Ravenscroft has aggregated an order for a client transaction with an order for its own account or with another client order, then in the subsequent allocation:
Ravenscroft monitors compliance with and the effectiveness of its Best Execution Policy.
Trade analysis is undertaken by the Trading team, with additional oversight and challenge provided by both the Compliance team and senior management.