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ORDER EXECUTION POLICY

Introduction

MEXEM LTD (hereinafter referred to as the "Company") is an Investment Firm incorporated and registered under the laws of the Republic of Cyprus, with registration number HE 351726. The Company is authorized and regulated in Cyprus by the Cyprus Securities and Exchange Commission (hereinafter referred to as "CySec") and subject to CySec rules, with CIF license number 325/17.
Subject to the provisions of the law which provides for the provision of investment services, the exercise of investment activities, regulated markets and other matters L144(I)/2007 as amended (the “Law”) the Company is required to set up this Policy and to take all reasonable steps to obtain the best possible result (or “Best Execution”) for its Clients either when receiving and transmitting orders in relation to financial instruments. The Policy sets out general overview on how orders are executed and to provide appropriate information to their Clients on their order execution policy.
The Company applies the Policy upon acceptance of an order and also when a client gives no specific instruction on the execution method. Nevertheless, when the client gives a specific instruction of an order, the Company shall execute the order following such instruction. If the Company receives a specific instruction of an order, this may prevent the Company from implementing the Policy to obtain the best possible result for the execution of the order.
Scope of Policy
The Policy applies whenever the Company is executing orders on behalf of its clients when trading through its trading website and/or platform. Every order which the Company may take is accepted and executed on the basis that the Company is acting in the best interests of the client. The Company does not guarantee that when receiving and transmitting for execution a transaction the client’s price will be more favourable than one which might be available elsewhere.
Best Execution Criteria and Factors
The Company shall take all reasonable steps to obtain the best possible results for its Clients taking into account the following factors when executing Clients orders against the Company’ quoted prices:
It is clarified that the Company does not hold clients’ funds.
1. Price
The Company, as part of its business operations, and the use of the execution venue, which is Interactive Brokers (please refer to the Company’s terms and conditions) shall provide Interactive Brokers’ tradable prices. The main way in which the Company will ensure that the client receives the best execution will be to ensure that the price provider to the client is made with reference and compared to a range of underlying price providers and data sources.
2. Costs
For opening a position in some types of financial instruments the Client may be required to pay commission or financing fees, the amount of which is disclosed on the Company Website.

 

3. Speed of Execution
The Company places a significant importance when receiving and transmitting for execution of Client’s orders and strives to offer high speed of execution within the limitations of technology and communications links at all times. It is however evident that prices change over time. The frequency with which they do varies with different financial instruments and market conditions.
Considering that the tradable prices which are distributed via the Company’s trading platform/terminal, technology used by the client to communicate with the Company plays a crucial role. For instance, the use of a wireless connection or dial up connection, or any other communication link that can cause a poor connection, or dial up connection, or any other communication link that can cause a poor internet connection can cause unstable connectivity to the Company’s trading platform/terminal. The result for the client is to place his orders at a delay and the order to be executed at a better or worse prevailing market price offered by the Company via its platform/terminal.
The Company reserves the right not to execute instructions transmitted by telephone or email. Telephone conversations may be recorded, and you will accept such recordings as conclusive and binding evidence of the instructions.
4. Likelihood of Execution
Due to the levels of market volatitility affecting the underlying instrument’s price, the Company seeks to provde client orders with the fastest execution reasonably possible.
5. Likelihood of settlement
The Company shall proceed to a settlement of all transaction upon execution of such transactions upon the execution and/or time of expiration of the specific transaction.
6. Size of order
All orders are placed in monetary value. The client will be able to place his order as long as he has enough balance in his trading account.
7. Nature of the order
The Particular characterizing of an order depends on the Client’s choice of financial instrument.

 

8. Market Impact
The Company’s quoted prices which are derived from its independent price provider may be affected by various factors which could also affect the abovementioned factors. The Company will take all reasonable factors to ensure the best possible result for its clients.
The Company does not consider the above list exhaustive and the order in which the above factors are presented shall not be taken as priority factor. Nevertheless, whenever there is a specific instruction from the Client the Company shall make sure that the Client’s order shall be executed following the specific instruction.

8. Best Execution Criteria
The Company will determine the relative importance of the above Best Execution Factors by using its commercial judgment and experience in the light of the information available on the market and taking into account the criteria described below:
(a) The characteristics of the Client including the categorization of the Client as retail or professional;
(b) The characteristics of the Client order;
(c) The characteristics of financial instruments that are the subject of that order;
(d) The characteristics of the execution venues to which that order can be directed.
For retail Clients, the best possible result shall be determined in terms of the total consideration, representing the price of the financial instrument and the costs related to execution, which shall include all expenses incurred by the Client which are directly related to the execution of the order, including execution venue fees, clearing and settlement fees and any other fees paid to third parties involved in the execution of the order.

 

9. Execution Venues
Execution Venues are the entities with which the orders are placed or to which the Company transmits orders for execution. The Company is connected to independent price providers who forward the market prices to the Company.
The Company will enter into transactions and may transmit the client’s order to the sole execution venue, which shall be Interactive Brokers.
10. Monitor and Review
The Company will monitor the effectiveness of the Policy and relevant order execution arrangements on a regular basis in order to identify and implement any appropriate enhancements. In addition, the Company will review the Policy at least annually and the relevant order execution arrangements in an attempt of examining whether they enable the Company to continuously provide the execution for its clients.
A review will also be carried out whenever a material change occurs that affects the ability of the Company to continue to the best possible result for the execution of its Client orders on a consistent basis using the venues included in this Policy. The Company will notify its affected Clients on any changes in its Policy, and clients should therefore refer from time to time to the website of the Company at [             ] for the most up to date version of the Policy.

11. Client Consent
When establishing a business relation with the Client, the Company is required to obtain the Client’s prior consent to this Policy.
The Company is also required to obtain the Client’s prior express consent before it executes or transmits its order for execution outside a regulated market or an MTF (Multilateral Trading Facility).

The Company may obtain the above consents in the form of a general agreement. The Company will treat clients who have either received the Policy or agreed to receive the Policy electronically or via the internet and have accepted the Terms and Condition of the Company, as clients who have given consent to the Policy as well as given consent to the Company to receive and transmit an order for execution outside a regulated market or an MTF.

הצהרת סיכון וגילוי נאות: אינטראקטיב ישראל מציעה סוגים שונים של השקעות באמצעות רכישת כלים פיננסים מגוונים: בנוגע לכלים פיננסים מגוונים, ביניהם מניות, אופציות, חוזים עתידיים, כתבי אופציות, אג"ח, אופציות חוזים, חוזה מנייה בודדת, תעודות סל, מוצרים מובנים וקרנות נאמנות. כל סוגי ההשקעות והמסחר מערבים סיכון להון המושקע, לרבות אלה המוצעים על ידי אינטראקטיב ישראל, ולכן, הם דורשים מיומנות, ידע והבנת הסיכונים, ואינם מתאימים לכל אדם.
לפני קבלת החלטה על השקעה או מסחר באמצעות אינטראקטיב ישראל, עליך לקחת בחשבון את מטרות ההשקעה ו/או המסחר, רמת הניסיון שלך ויכולתך לספוג הפסדים כתוצאה מכך. בנוסף, עליך לקחת בחשבון שביצועים קודמים אינם יכולים להוות מדד על ביצועיהם העתידיים של הכלים הפיננסים.
מוצרים פינננסים כגון אופציות על מניות וחוזים אינם מתאימים עבור כל משקיע. לפני השקעה באופציות אנא קרא את "מאפיינים וסיכונים של הסטנדרטים באופציות" לקריאה אנא כנס ל- http://www.theocc.com/about/publications/character-risks.jsp.
לפני תחילת מסחר לקוחותינו חייבים לקרוא את הגילויים הרלוונטים אודות הסיכונים בעמוד הגילוי הנאות אודות הסיכון

המסחר במינוף הינו מיועד עבור משקיעים מתוחכמים בעלי סובלנות גבוהה לסיכון. קיים סיכון בו ההפסד הינו יכול לגבור מסכום ההשקעה הראשוני. לפני מסחר בחוזים עתידיים אנו ממליצים לקרוא את גילוי נאות בגין הסיכון בחוזים עתידיים.
תאריכי הסליקה של עסקאות מט"ח יכול להשתנות בשל הבדלים באיזורי זמן ומועדים בבנקים ברחבי העולם. במסחר בין בורסות ברחבי העולם ייתכן ויושאלו מטבעות שונים על מנת לבצע את העסקאות במטבעות שונים.

  

חברת אינטראקטיב ישראל משמשת כברוקר לאינטראקטיב ברוקרס בישראל.  אינטרקטיב ישראל אינה נשלטת ואינה חברה נספחת לאינטרקטיב ברוקרס בשום צורה. ‬‬‬‬‬‬‬‬‬‬‬‬‬אתר זה איננו האתר של אינטרקטיב ברוקרס והוא אינו מופעל על ידה. כל המידע בדף זה, או חלקים ממנו, נלקחו ע"י חברת אינטרקאטיב ישראל מסחר מאתר האינטרנט של אינטראקטיב ברוקרס ותורגמו לעברית לנוחיותך. ‬‬‬‬‬‬‬‬‬‬‬על מנת לצפות באתר אינטראקטיב ברוקרס בצורה מלאה הנכם מוזמנים היכנס לבקר באתר אינטראקטיב ברוקרס הנמצא בתחתית העמוד. על מנת לצפות באתר אינטראקטיב ברוקרס בצורה מלאה הנכם מוזמנים היכנס לבקר בכתובת:‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬ https://www.interactivebrokers.com

‬‬אינטראקטיב ברוקרס הינם ברוקר דילר רשום המפוקח ע"י הרשות האמריקאית לני"ע וזירות מסחר (SEC) הרשות למסחר חוזי סחורות (CFTC) ואגודת החוזים הלאומית (NFA) וכמו כן חבר ברשות המפקחת לתעשיית הפיננסים האמריקאית (FINRA) ובעוד גופי פיקוח עצמאיים.
אינטרקטיב ברוקרס מספקת שירותי ביצוע וסליקה ללקוחותיה
אינטראקטיב ברוקרס אינו ממליץ על שום גוף פיננסי,יועץ השקעות,משווק השקעות או קרן גידור.
אינטראקטיב ברוקרס אינו  מייעץ להשקעות או ממליץ לקנות או למכור את ניירות הערך המוזכרים באתר זה ו/או ניירות ערך אחרים או מטבעות. העושה זאת פועל על סמך שיקול דעתו בלבד.המידע באתר מתבסס אך ורק על מידע פומבי גלוי לציבור ועל הערכות ואומדנים. הכתוב באתר זה אינו מהווה יעוץ או הזמנה לרכוש או למכור את ניירות הערך הנזכרים בו ואין בו משום תחליף לייעוץ המתחשב בנתונים ובצרכים המיוחדים של כל משקיע.

אינטראקטיב ישראל הינה ברנד של חברת Mexem Ltd אשר בעלת רישיון אירופאי ומפוקחת ע" הרגולטור CySec, מספר רישיון 325/17, וכמו כן חברת בקרן לפיצויי משקיעים.
החברה רשומה ברגולטורים הבאים: בריטניה- FCA | גרמניה - BAFIN | איטליה - CONSOB | הולנד -AFM | צרפת - ACPR | ספרד - CNMV | שוודיה - FI | בלגיה - FSMA.

RIsk Disclosure : Israel Interactive Trading offers various types of investments through the acquisition of various financial instruments: various financial instruments, including shares, options, futures contracts, options, bonds, options, contracts, individual share contracts, ETFs, structured products and mutual funds. Investments and trade involve the risk of invested capital, including those offered by Interactive Israel, and therefore require skill, knowledge and understanding of risks, and are not suitable for everyone.
Before deciding on investing or trading with Israel Interactive Trading, you must consider your investment and / or trading goals, your level of experience, and your ability to absorb losses as a result. In addition, you should consider that past performance cannot be a measure of the future performance of financial instruments.
Options involve risk and are not suitable for all investors. Before investing in options, read the "Characteristics and Risks of Standardized Options". For a copy visit http://www.theocc.com/about/publications/character-risks.jsp. Before trading, clients must read the relevant risk disclosure statements on our Warnings and Disclosures page - http://www.interactivebrokers.com/disclosures. Trading on margin is only for sophisticated investors with high-risk tolerance. You may lose more than your initial investment. For additional information regarding margin loan rates, see http://www.interactivebrokers.com/interest. Security futures involve a high degree of risk and are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading security futures, read the Security Futures Risk Disclosure Statement. For a copy visit http://www.interactivebrokers.com/disclosures. There is a substantial risk of loss in foreign exchange trading. The settlement date of foreign exchange trades can vary due to time zone differences and bank holidays. When trading across foreign exchange markets, this may necessitate borrowing funds to settle foreign exchange trades. The interest rate on borrowed funds must be considered when computing the cost of trades across multiple markets.

Israel Interactive Trading is acting as an introducer broker to Interactive Brokers LLC in Israel. The company is not owned by or affiliated with Interactive brokers in any form. This website is not an  Interactive Brokers LLC website and is not operated by it. Some or all of the information on this page has been taken by Israel Interactive Trading from the Interactive Brokers website and translated to Hebrew for your convenience.
To view the Interactive Brokers website directly and in its entirety, please visit:
https://www.interactivebrokers.com
“Interactive Brokers LLC” is a registered Broker-Dealer, Futures Commission Merchant and Forex Dealer Member, regulated by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and is a member of the Financial Industry Regulatory Authority (FINRA) and several other self-regulatory organizations.  Interactive Brokers does not endorse or recommend any financial institutions or financial service providers, including brokers, introducing brokers, third-party financial advisors, or hedge funds.  Interactive Brokers provides execution and clearing services to customers.  None of the information contained herein constitutes a recommendation, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Interactive Brokers makes no representation and assumes no liability to the accuracy or completeness of the information provided on this website.

Israel Interactive Trading is a brand of Mexem LTD. The company is authorized and regulated by the Cyprus Securities and Exchange Commission – CySEC (Licence number: 325/17) and is a member of the Investor Compensation Fund (ICF).
In addition to that Mexem Ltd is registered with the following regulators: UK - FCA | Germany - BAFIN | Italy - CONSOB | France - ACPR | Spain - CNMV | Sweeden - FI | Belgium - FSMA.