Order Execution Policy

The Policy applies whenever the Company executes orders on behalf of clients. The Company always acts as principal (counterparty) when executing client orders.

Although the Company takes every reasonable step to obtain the best possible result, it does not guarantee that the client’s price will be more favourable than one available elsewhere.

Price — The Company calculates bid/ask spreads with reference to a range of underlying price providers and data sources, and reviews these at least annually to ensure correct and competitive pricing.

Costs — A commission or financing fee may apply to certain instruments. Costs are set out in the Contract Specifications, and clients are informed of spreads and commission rates before trading.

Speed — The Company strives for the highest possible execution speed within the limits of technology and communication links. The client’s connection (e.g. wireless or dial-up) can affect connectivity and may result in re-quoting.

Likelihood of execution, size, nature of the order and market impact are also considered. Price and total cost are generally the most important factors, with other factors secondary unless they deliver the best possible result in terms of total consideration.

Market (Instant) Order — an order to buy or sell at the price available at a given time; the price may differ if the market moves while the order is placed. Stop Loss and Take Profit may be attached.

Pending Order — an order to buy or sell in the future once a certain price is reached, available as Buy Limit, Buy Stop, Sell Limit and Sell Stop. Stop Loss and Take Profit may be attached.

Trailing Order — a stop loss that automatically updates to lock in profit as the market moves in the client’s favour. It works in the client’s terminal (not the server), so it will not operate if the terminal is off.

The Company may modify spreads, and clients may experience widened spreads and execution at the best available price under certain conditions, such as fundamental announcements, fast-moving markets or low liquidity.

Most trades are automatically priced and executed, but unusual market conditions or large/complex orders may require manual pricing or execution, which can cause delays. In the case of communication or technical failure, or an incorrect quote feed, the Company reserves the right not to execute an order or to change the opening/closing price of a particular order.

The Company enters into all transactions with the client as principal (counterparty) and acts as the sole execution venue for all client orders. Where there is only one possible venue, best execution is achieved by execution on that venue.

The client acknowledges that all transactions are executed outside a regulated market or a multilateral trading facility (MTF), and is therefore exposed to a greater risk of a possible default of the counterparty (i.e. the Company).

The Company monitors the effectiveness of this Policy on an ongoing basis and reviews it at least annually. Material changes — such as a change of execution venue, changes to the relative importance of execution factors, incorrect prices, a significant increase in re-quotes, or significant execution delays — will be notified, and the latest version is always available at www.aimsfx.com.

When establishing the relationship, the Company obtains the client’s prior consent to this Policy and to executing orders outside a regulated market or an MTF. Acceptance of the Trading Terms and Conditions constitutes consent to this Policy.