Best Execution and Execution Quality Reports

This page shows Deutsche Bank AG’s response to Delegated Regulation (EU) 2017/575; (RTS 27 reports) and Delegated Regulation (EU) 2017/576 (RTS 28 Reports).

January

February

March

For an explanation of the relative importance the firm gave to the execution factors of price, costs, speed, likelihood of execution or any other consideration including qualitative factors when assessing the quality of execution, please refer to: Deutsche Bank AG’s CIB Umbrella Order Execution Policy and related product specific annexes for professional and retail clients here https://www.db.com/company/en/order-execution-policy.htm, Deutsche Bank AG’s Order Execution Policy for the Private, Wealth & Commercial Clients (PWCC) Germany here https://www.deutsche-bank.de/pfb/data/docs/1017-ausfuehrungsgrundsaetze-pgk.pdf, Deutsche Bank AG’s Order Execution Policy for Private & Commercial Clients (PCC) Belgium here https://www.deutschebank.be/fr/tarifs.html#documents and here https://www.deutschebank.be/nl/tarieven.html#documenten, Deutsche Bank AG’s Order Execution Policy for Private & Commercial Clients (PCC) Portugal here http://www.deutsche-bank.pt/db_pt/content/5116.htm. The bank did not weight the relative importance in another way than described.

DB AG has no close link, conflict of interest or common ownerships with any execution venue which is used for order execution.

DBAG has no arrangements with any execution venues specific to itself regarding payments made or received, discounts, rebates or non-monetary benefits received.

The list of execution venues for Private, Wealth & Commercial Clients (PWCC) Germany has been added with a list of intermediate brokers due to regulatory reasons. Due to technical reasons the London Stock Exchange STMM Equities has been added to the list of execution venues for Private, Wealth & Commercial Clients (PWCC) Germany, Warsaw Stock Exchange, Euronext Lisbon and Korea Stock Exchange has been deleted. The list of derivatives exchanges has been updated and a number of execution venues has been removed, because Private, Wealth & Commercial Clients (PWCC) Germany does not offer an execution at these venues any longer.

For an explanation of how order execution differs according to client categorisation, where the firm treats categories of clients differently and where it may affect the order execution arrangements, please refer to: Deutsche Bank AG’s CIB Umbrella Order Execution Policy and related product specific annexes for professional and retail clients here https://www.db.com/company/en/order-execution-policy.htm, Deutsche Bank AG’s Order Execution Policy for the Private, Wealth & Commercial Clients (PWCC) Germany here https://www.deutsche-bank.de/pfb/data/docs/1017-ausfuehrungsgrundsaetze-pgk.pdf, Deutsche Bank AG’s Order Execution Policy for Private & Commercial Clients (PCC) Belgium here https://www.deutschebank.be/fr/tarifs.html#documents and here https://www.deutschebank.be/nl/tarieven.html#documenten, Deutsche Bank AG’s Order Execution Policy for Private & Commercial Clients (PCC) Portugal here http://www.deutsche-bank.pt/db_pt/content/5116.htm.

For an explanation of whether other criteria were given precedence over immediate price and cost when executing retail client orders and how these other criteria were instrumental in delivering the best possible result in terms of the total consideration to the client, please refer to: Deutsche Bank AG’s CIB Umbrella Order Execution Policy and related annex for retail clients here https://www.db.com/company/en/order-execution-policy.htm, Deutsche Bank AG’s Order Execution Policy for the Private, Wealth & Commercial Clients (PWCC) Germany here https://www.deutsche-bank.de/pfb/data/docs/1017-ausfuehrungsgrundsaetze-pgk.pdf, Deutsche Bank AG’s Order Execution Policy for Private & Commercial Clients (PCC) Belgium here https://www.deutschebank.be/fr/tarifs.html#documents and here https://www.deutschebank.be/nl/tarieven.html#documenten, Deutsche Bank AG’s Order Execution Policy for Private & Commercial Clients (PCC) Portugal here http://www.deutsche-bank.pt/db_pt/content/5116.htm. The bank did not treat orders in another way than described in the regarding policies.

DBAG takes into consideration a number of different factors and sources of data when assessing the quality of execution provided by any of the venues used. Note, data published under Delegated Regulation (EU) 2017/575; (RTS 27 reports) and the output of consolidated tape providers as per Article 65 of Directive 2014/65/EU was not available during 2017.

This website uses cookies in order to improve user experience. If you close this box or continue browsing, we will assume you agree with this. For more information about the cookies we use or to find out how you can disable cookies, click here.