Interactive Brokers Ireland Limited: Top 5 Venue Annual Report for Year 2022

Annual Report on the Execution Quality Obtained on all the Execution Venues Used by Interactive Brokers Ireland Limited and the Top Five Venue and Entities for each Instrument Class

To enable our clients and the public to evaluate the quality of Interactive Brokers Ireland Limited ("IBIE")'s execution performance and to identify the top five execution venues in terms of trading volumes where IBIE executed client orders in the preceding year, IBIE publishes information in relation to trading venues, market makers or other liquidity providers or any entity that performs a similar function outside the European Economic Area ("EEA"). The annual report is made available on our website on 30 April.

Summary on the Execution Quality Obtained on all the Execution Venues Used by Interactive Brokers Ireland Limited

IBIE provides to its clients self-directed execution-only electronic brokerage services. The orders clients submit to IBIE through the Interactive Brokers Group's ("IB") trading platforms are executed by IBIE on their behalf by electronically routing them to markets or dealers using IB’s proprietary order routing technology ("SmartRouting").

Relative Importance of Execution Factors

SmartRouting takes into account the relative importance of each of the execution factors as depends on:

  • the characteristics of the order, including any specific instructions a client might have given;
  • the characteristics of the financial instruments that are the subject of an order;
  • the characteristics of the execution venues (if there is more than one) to which the order can be directed.

IBIE's order execution arrangements do not differ according to client categorization. The execution factors are applied on a trade-by-trade basis taking into account whether the order is marketable or not. A marketable order is a buy order with a price at or above the lowest offer in the market or a sell order with a price at or below the highest bid in the market.

For marketable orders, the primary execution factor is either total consideration or price depending on client's instruction. The total consideration represents the price of the financial instrument and the costs related to execution ("external cost"), which include all expenses incurred by the client which are directly related to the execution of the order, including execution fees, clearing and settlement fees and other fees paid to third parties involved in the execution of the order.

For non-marketable orders, the primary execution factor for clients on a fixed commission structure (which covers all external costs) is likelihood of execution. The primary execution factors for clients on a tiered commission structure (where clients pay for external costs) are typically a blend of cost and likelihood of execution.

Both for marketable and non-marketable orders, the remaining execution factors - order size, nature of the order and any other consideration relevant to the efficient execution of order - are generally secondary and applied where they may optimize the primary factors.

Close links

Our arrangements for best execution are designed to ensure that IBIE acts in its clients' best interests regardless of any other interests.

Where IBIE routes a client order and relies on a third party to access a venue, this is usually carried out through an IB affiliate. Any IB affiliate receiving a client order does not levy any additional charge on the client. IBIE's standard charges apply as disclosed without any additional mark-up imposed by IBIE. For certain execution venues, IBIE may rely on a broker outside of the IB.

For Over the Counter ("OTC") products, our clients may utilize the client interface to check the price of the underlying financial instrument. The Contracts for Difference ("CFDs") price shown to our client is the current market price for the underlying (i.e. market data for CFDs and stocks are identical) and CFDs and stock orders are executed exactly the same way.

Venue Selection

IBIE places significant reliance on automated venues where our SmartRouting can constantly review the bids and offers at each of the available venues and execute at the greatest speed and with the highest level of accuracy and certainty of completion.

Assessment Summary

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 the section headed "Relative Importance of Execution Factors".

A description of any specific arrangements with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received.

Some execution venues may offer differing fee plans to trading members depending on the volume and nature/type of a trading activity on the venue as well as fee discounts depending on average volume of trading undertaken. Such arrangements apply equally to all trading members who satisfy the relevant criteria under the execution venue rules. Information on such arrangements is publicly available on the relevant execution venues’ website. IBIE’s decision to route orders to a particular venue for execution is determined by whether execution on such venues allows IBIE to satisfy its best execution obligations. Further details on fees structures for all instrument classes see commissions.

An explanation of the factors that led to a change in the list of execution venues listed in the firm's execution policy, if such a change occurred.

Please refer to the section headed "Venue Selection"

An explanation of how order execution differs according to client categorization, where the firm treats categories of clients differently and where it may affect the order execution arrangements.

IBIE's order execution arrangements do not differ according to client categorization.

An explanation of how the investment firm has used any data or tools relating to the quality of execution, including any data published under RTS 27.

IBIE collected and reviewed best execution quality statistics. Among other metrics, we:

  1. used market data available from all venues that we connect to, in order to calculate an aggregated best bid and offer that we further use to measure price improvement and slippage;
  2. collected and examined latency data from our routed orders in order to find and correct situations where current statistics deviate from the prior month and 3-month averages;
  3. collected and examined volume shifts from one exchange to another and determine the contributing factors to those shifts;
  4. collected and examined fill rates for both marketable and non-marketable, and further breakout those statistics into sub-categories that allow us to zero in on potential anomalies;
  5. used external trade volume statistics to determine if we can better serve our clients by connecting to venues that we are not currently routing to.

Where applicable, an explanation of how the investment firm has used output of a consolidated tape provider established under Article 65 of MiFID II.

N/A


The Top 5 Venue Report has been completed on a best efforts basis and with data available for the year 2022.

Equities - Shares & Depositary Receipts

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 5 and 6
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Citadel Connect Europe (EUCC) 99.77 % 38.71 % 0.00 % 100.00 % 0.00 %
Interactive Brokers Systematic Internaliser (IBSI) 0.23 % 61.29 % 0.00 % 100.00 % 0.00 %

Executed Orders, Professional Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 5 and 6
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Citadel Connect Europe (EUCC) 99.13 % 6.13 % 0.00 % 100.00 % 84.37 %
Interactive Brokers Systematic Internaliser (IBSI) 0.87 % 93.87 % 63.22 % 36.78 % 99.75 %

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 5 and 6
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 83.04 % 66.47 % N/A N/A 1.28 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 7.56 % 19.25 % N/A N/A 12.81 %
Interactive Brokers Hong Kong Limited (5493006E0OXBY133DB14) 4.57 % 0.26 % N/A N/A 100.00 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 2.15 % 0.28 % N/A N/A 2.00 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 1.64 % 7.28 % N/A N/A 21.83 %

Transmitted Orders, Professional Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 5 and 6
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 40.41 % 61.01 % N/A N/A 1.66 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 30.34 % 1.43 % N/A N/A 77.08 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 15.15 % 21.44 % N/A N/A 23.82 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 7.00 % 9.85 % N/A N/A 14.28 %
Interactive Brokers Hong Kong Limited (5493006E0OXBY133DB14) 3.59 % 0.43 % N/A N/A 100.00 %

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 3 and 4
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Citadel Connect Europe (EUCC) 99.91 % 70.75 % 0.00 % 100.00 % 0.00 %
Interactive Brokers Systematic Internaliser (IBSI) 0.09 % 29.25 % 0.00 % 100.00 % 0.00 %

Executed Orders, Professional Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 3 and 4
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Citadel Connect Europe (EUCC) 99.60 % 18.08 % 0.00 % 100.00 % 69.92 %
Interactive Brokers Systematic Internaliser (IBSI) 0.40 % 81.92 % 67.00 % 33.00 % 100.00 %

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 3 and 4
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 53.05 % 4.46 % N/A N/A 20.72 %
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 38.44 % 92.82 % N/A N/A 0.63 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 6.07 % 1.39 % N/A N/A 23.33 %
Interactive Brokers Central Europe (984500QBG15950F8C352) 0.81 % 0.73 % N/A N/A 28.51 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 0.79 % 0.05 % N/A N/A 1.51 %

Transmitted Orders, Professional Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 3 and 4
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 66.71 % 91.31 % N/A N/A 0.45 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 14.58 % 4.97 % N/A N/A 35.28 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 9.29 % 1.96 % N/A N/A 19.03 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 3.80 % 0.04 % N/A N/A 40.80 %
Interactive Brokers Canada Inc. (549300QOMHWIXQCEYW57) 2.41 % 0.47 % N/A N/A 0.00 %

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 1 and 2
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 1 and 2
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 1 and 2
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 37.15 % 89.64 % N/A N/A 1.09 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 19.71 % 3.30 % N/A N/A 28.92 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 16.09 % 0.85 % N/A N/A 1.87 %
Interactive Brokers Canada Inc. (549300QOMHWIXQCEYW57) 13.81 % 4.02 % N/A N/A 0.00 %
Interactive Brokers Hong Kong Limited (5493006E0OXBY133DB14) 7.65 % 0.58 % N/A N/A 100.00 %

Transmitted Orders, Professional Clients

Class of Instrument Equities - Shares & Depositary Receipts: Tick size liquidity bands 1 and 2
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 37.41 % 2.13 % N/A N/A 60.22 %
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 36.53 % 89.61 % N/A N/A 0.97 %
Interactive Brokers Hong Kong Limited (5493006E0OXBY133DB14) 9.32 % 1.48 % N/A N/A 100.00 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 7.84 % 0.81 % N/A N/A 7.36 %
Interactive Brokers Canada Inc. (549300QOMHWIXQCEYW57) 6.59 % 2.76 % N/A N/A 0.01 %
Debt Instruments: Bonds

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Debt instruments: Bonds
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Debt instruments: Bonds
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Debt instruments: Bonds
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 97.02 % 92.40 % N/A N/A 0.32 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 2.98 % 7.54 % N/A N/A 13.20 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 0.00 % 0.05 % N/A N/A 100.00 %

Transmitted Orders, Professional Clients

Class of Instrument Debt instruments: Bonds
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 94.51 % 93.24 % N/A N/A 0.51 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 5.49 % 6.76 % N/A N/A 18.58 %
Debt Instruments: Money Markets Instruments

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Debt instruments: Money markets instruments
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Debt instruments: Money markets instruments
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Debt instruments: Money markets instruments
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 100.00 % 100.00 % N/A N/A 0.05 %

Transmitted Orders, Professional Clients

Class of Instrument Debt instruments: Money markets instruments
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 100.00 % 100.00 % N/A N/A 0.00 %
Interest Rates Derivatives: Futures and Options Admitted to Trading on a Trading Venue

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Interest rates derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Interest rates derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Interest rates derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 54.34 % 70.64 % N/A N/A 100.00 %
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 44.19 % 28.14 % N/A N/A 99.85 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 1.17 % 0.90 % N/A N/A 100.00 %
Interactive Brokers Securities Japan, Inc. (54930093I22PU43ODQ77) 0.14 % 0.18 % N/A N/A 100.00 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 0.10 % 0.07 % N/A N/A 100.00 %

Transmitted Orders, Professional Clients

Class of Instrument Interest rates derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 55.04 % 56.77 % N/A N/A 100.00 %
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 35.24 % 35.44 % N/A N/A 99.90 %
Interactive Brokers Canada Inc. (549300QOMHWIXQCEYW57) 4.53 % 2.46 % N/A N/A 100.00 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 3.49 % 3.56 % N/A N/A 100.00 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 1.54 % 1.10 % N/A N/A 100.00 %
Interest Rates Derivatives: Swaps, Forwards and Other Interest Rates Derivatives

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Interest rates derivatives: Swaps, forwards and other interest rates derivatives
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Interest rates derivatives: Swaps, forwards and other interest rates derivatives
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Interest rates derivatives: Swaps, forwards and other interest rates derivatives
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Interest rates derivatives: Swaps, forwards and other interest rates derivatives
Notification if <1 average trade per business day in the previous year Y
Credit Derivatives: Futures and Options Admitted to Trading on a Trading Venue

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Credit derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Credit derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Credit derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Credit derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y
Credit Derivatives: Other Credit Derivatives

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Credit derivatives: Other credit derivatives
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Credit derivatives: Other credit derivatives
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Credit derivatives: Other credit derivatives
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Credit derivatives: Other credit derivatives
Notification if <1 average trade per business day in the previous year Y
Currency Derivatives: Futures and Options Admitted to Trading on a Trading Venue

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Currency derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Currency derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Currency derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 99.91 % 99.89 % N/A N/A 99.82 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 0.07 % 0.10 % N/A N/A 100.00 %
Interactive Brokers Hong Kong Limited (5493006E0OXBY133DB14) 0.01 % 0.01 % N/A N/A 100.00 %

Transmitted Orders, Professional Clients

Class of Instrument Currency derivatives: Futures and options admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 91.26 % 99.29 % N/A N/A 99.96 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 4.41 % 0.49 % N/A N/A 100.00 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 4.32 % 0.19 % N/A N/A 100.00 %
Interactive Brokers Hong Kong Limited (5493006E0OXBY133DB14) 0.02 % 0.03 % N/A N/A 100.00 %
Currency Derivatives: Swaps, Forwards and Other Currency Derivatives

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Currency derivatives: Swaps, forwards and other currency derivatives
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Currency derivatives: Swaps, forwards and other currency derivatives
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Currency derivatives: Swaps, forwards and other currency derivatives
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Currency derivatives: Swaps, forwards and other currency derivatives
Notification if <1 average trade per business day in the previous year Y
Structured Finance Instruments

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Structured finance instruments
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Structured finance instruments
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Structured finance instruments
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Structured finance instruments
Notification if <1 average trade per business day in the previous year Y
Equity Derivatives: Options and Futures Admitted to Trading on a Trading Venue

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Equity derivatives: Options and futures admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Equity derivatives: Options and futures admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Equity derivatives: Options and futures admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 67.15 % 66.00 % N/A N/A 50.29 %
INTERACTIVE BROKERS CORP. (549300OSXAB3HHDJN713) 18.63 % 17.10 % N/A N/A 0.37 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 13.07 % 15.85 % N/A N/A 100.00 %
Interactive Brokers Securities Japan, Inc. (54930093I22PU43ODQ77) 0.38 % 0.31 % N/A N/A 100.00 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 0.28 % 0.32 % N/A N/A 100.00 %

Transmitted Orders, Professional Clients

Class of Instrument Equity derivatives: Options and futures admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 70.21 % 69.42 % N/A N/A 60.87 %
INTERACTIVE BROKERS CORP. (549300OSXAB3HHDJN713) 18.68 % 13.43 % N/A N/A 0.64 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 9.47 % 13.91 % N/A N/A 100.00 %
Interactive Brokers Hong Kong Limited (5493006E0OXBY133DB14) 0.91 % 2.27 % N/A N/A 100.00 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 0.34 % 0.50 % N/A N/A 100.00 %
Equity Derivatives: Swaps and Other Equity Derivatives

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Equity derivatives: Swaps and other equity derivatives
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Equity derivatives: Swaps and other equity derivatives
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Equity derivatives: Swaps and other equity derivatives
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Equity derivatives: Swaps and other equity derivatives
Notification if <1 average trade per business day in the previous year Y
Securitized Derivatives: Warrants and Certificate Derivatives

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Securitized derivatives: Warrants and certificate derivatives
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Securitized derivatives: Warrants and certificate derivatives
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Securitized derivatives: Warrants and certificate derivatives
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 92.26 % 96.27 % N/A N/A 99.52 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 3.92 % 0.06 % N/A N/A 100.00 %
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 2.32 % 3.48 % N/A N/A 1.28 %
Interactive Brokers Hong Kong Limited (5493006E0OXBY133DB14) 1.04 % 0.02 % N/A N/A 100.00 %
Interactive Brokers Canada Inc. (549300QOMHWIXQCEYW57) 0.35 % 0.14 % N/A N/A 0.00 %

Transmitted Orders, Professional Clients

Class of Instrument Securitized derivatives: Warrants and certificate derivatives
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 50.08 % 27.70 % N/A N/A 0.37 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 47.26 % 71.50 % N/A N/A 99.53 %
Interactive Brokers Canada Inc. (549300QOMHWIXQCEYW57) 1.67 % 0.75 % N/A N/A 0.00 %
Interactive Brokers Hong Kong Limited (5493006E0OXBY133DB14) 0.93 % 0.04 % N/A N/A 100.00 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 0.06 % 0.01 % N/A N/A 100.00 %
Securitized Derivatives: Other Securitized Derivatives

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Securitized derivatives: Other securitized derivatives
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Securitized derivatives: Other securitized derivatives
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Securitized derivatives: Other securitized derivatives
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Securitized derivatives: Other securitized derivatives
Notification if <1 average trade per business day in the previous year Y
Commodities Derivatives and Emission Allowances Derivatives: Options and Futures Admitted to Trading on a Trading Venue

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Commodities derivatives and emission allowances derivatives: Options and futures admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Commodities derivatives and emission allowances derivatives: Options and futures admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Commodities derivatives and emission allowances derivatives: Options and futures admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 96.20 % 98.42 % N/A N/A 99.90 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 3.18 % 1.15 % N/A N/A 100.00 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 0.61 % 0.43 % N/A N/A 100.00 %
Interactive Brokers Hong Kong Limited (5493006E0OXBY133DB14) 0.00 % 0.00 % N/A N/A 100.00 %

Transmitted Orders, Professional Clients

Class of Instrument Commodities derivatives and emission allowances derivatives: Options and futures admitted to trading on a trading venue
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 97.28 % 98.86 % N/A N/A 99.98 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 1.41 % 0.44 % N/A N/A 100.00 %
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 1.31 % 0.70 % N/A N/A 100.00 %
Commodities Derivatives and Emission Allowances Derivatives: Other Commodities Derivatives and Emission Allowances Derivatives

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Commodities derivatives and emission allowances derivatives: Other commodities derivatives and emission allowances derivatives
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Commodities derivatives and emission allowances derivatives: Other commodities derivatives and emission allowances derivatives
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Commodities derivatives and emission allowances derivatives: Other commodities derivatives and emission allowances derivatives
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Commodities derivatives and emission allowances derivatives: Other commodities derivatives and emission allowances derivatives
Notification if <1 average trade per business day in the previous year Y
Contracts for Difference: Stock Underlying

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Contracts for difference: Stock underlying
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
INTERACTIVE BROKERS IRELAND LIMITED (5493001B9LDFCQUY9273) 100.00 % 100.00 % N/A N/A N/A

Executed Orders, Professional Clients

Class of Instrument Contracts for difference: Stock underlying
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
INTERACTIVE BROKERS IRELAND LIMITED (5493001B9LDFCQUY9273) 100.00 % 100.00 % N/A N/A N/A

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Contracts for difference: Stock underlying
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Contracts for difference: Stock underlying
Notification if <1 average trade per business day in the previous year Y
Contracts for Difference: Index Underlying

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Contracts for difference: Index underlying
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
INTERACTIVE BROKERS IRELAND LIMITED (5493001B9LDFCQUY9273) 100.00 % 100.00 % N/A N/A N/A

Executed Orders, Professional Clients

Class of Instrument Contracts for difference: Index underlying
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
INTERACTIVE BROKERS IRELAND LIMITED (5493001B9LDFCQUY9273) 100.00 % 100.00 % N/A N/A N/A

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Contracts for difference: Index underlying
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Contracts for difference: Index underlying
Notification if <1 average trade per business day in the previous year Y
Contracts for Difference: Cash Underlying

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Contracts for difference: Cash underlying
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
INTERACTIVE BROKERS IRELAND LIMITED (5493001B9LDFCQUY9273) 100.00 % 100.00 % N/A N/A N/A

Executed Orders, Professional Clients

Class of Instrument Contracts for difference: Cash underlying
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
INTERACTIVE BROKERS IRELAND LIMITED (5493001B9LDFCQUY9273) 100.00 % 100.00 % N/A N/A N/A

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Contracts for difference: Cash underlying
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Contracts for difference: Cash underlying
Notification if <1 average trade per business day in the previous year Y
Contracts for Difference: Other

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Contracts for difference: Other
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Contracts for difference: Other
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Contracts for difference: Other
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Contracts for difference: Other
Notification if <1 average trade per business day in the previous year Y
Exchange Traded Products (Exchange Traded Funds, Exchange Traded Notes and Exchange Traded Commodities)

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Exchange traded products (exchange traded funds, exchange traded notes and exchange traded commodities)
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Citadel Connect Europe (EUCC) 72.26 % 1.79 % 0.00 % 100.00 % 0.00 %
Interactive Brokers Systematic Internaliser (IBSI) 27.74 % 98.21 % 0.00 % 100.00 % 0.00 %

Executed Orders, Professional Clients

Class of Instrument Exchange traded products (exchange traded funds, exchange traded notes and exchange traded commodities)
Notification if <1 average trade per business day in the previous year N
Top five execution venues ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers Systematic Internaliser (IBSI) 51.16 % 99.71 % 66.30 % 33.70 % 99.94 %
Citadel Connect Europe (EUCC) 48.84 % 0.29 % 0.00 % 100.00 % 95.24 %

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Exchange traded products (exchange traded funds, exchange traded notes and exchange traded commodities)
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 68.88 % 20.61 % N/A N/A 3.14 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 18.36 % 30.83 % N/A N/A 5.74 %
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 9.56 % 44.36 % N/A N/A 1.54 %
Interactive Brokers Central Europe (984500QBG15950F8C352) 1.31 % 2.14 % N/A N/A 2.76 %
Interactive Brokers Canada Inc. (549300QOMHWIXQCEYW57) 1.08 % 1.89 % N/A N/A 0.00 %

Transmitted Orders, Professional Clients

Class of Instrument Exchange traded products (exchange traded funds, exchange traded notes and exchange traded commodities)
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers (U.K.) Limited (549300GVM9BQWJXPI223) 60.12 % 11.05 % N/A N/A 0.26 %
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 32.64 % 75.94 % N/A N/A 2.60 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 3.45 % 9.09 % N/A N/A 2.90 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 2.38 % 0.24 % N/A N/A 32.19 %
Interactive Brokers Canada Inc. (549300QOMHWIXQCEYW57) 0.99 % 3.08 % N/A N/A 0.00 %
Emission Allowances

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Emission allowances
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Emission allowances
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Emission allowances
Notification if <1 average trade per business day in the previous year Y

Transmitted Orders, Professional Clients

Class of Instrument Emission allowances
Notification if <1 average trade per business day in the previous year Y
Other Instruments

The Top Five Execution Venues to which Client Orders were Routed

Executed Orders, Retail Clients

Class of Instrument Other instruments
Notification if <1 average trade per business day in the previous year Y

Executed Orders, Professional Clients

Class of Instrument Other instruments
Notification if <1 average trade per business day in the previous year Y

The Top Five Entities to which Client Orders were Routed

Transmitted Orders, Retail Clients

Class of Instrument Other instruments
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 41.01 % 42.50 % N/A N/A 95.74 %
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 39.26 % 10.68 % N/A N/A 88.30 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 11.29 % 0.04 % N/A N/A 1.82 %
Interactive Brokers Canada Inc. (549300QOMHWIXQCEYW57) 4.79 % 0.03 % N/A N/A 0.00 %
INTERACTIVE BROKERS CORP. (549300OSXAB3HHDJN713) 1.98 % 46.64 % N/A N/A 0.67 %

Transmitted Orders, Professional Clients

Class of Instrument Other instruments
Notification if <1 average trade per business day in the previous year N
Top five entities ranked in terms of trading volumes (descending order) Proportion of volume traded as a percentage of total in that class Proportion of orders executed as a percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
IBKR Financial Services AG (549300KKMY8XC2HPZ142) 54.25 % 7.34 % N/A N/A 94.91 %
Interactive Brokers LLC (50OBSE5T5521O6SMZR28) 29.52 % 78.30 % N/A N/A 99.13 %
Interactive Brokers Canada Inc. (549300QOMHWIXQCEYW57) 8.82 % 0.00 % N/A N/A 0.00 %
INTERACTIVE BROKERS CORP. (549300OSXAB3HHDJN713) 4.41 % 14.25 % N/A N/A 0.02 %
Interactive Brokers Australia PTY LTD (549300YLBTRGPV0WJ896) 2.52 % 0.08 % N/A N/A 6.45 %

Top Five Securities Financing Transactions (SFT) Venue Report

CLASS OF INSTRUMENT APPLIES TO ALL ASSET CLASSES LISTED IN ANNEX I OF COMMISSION DELEGATED REGULATION (EU) 2017/576
NOTIFICATION IF <1 AVERAGE TRADE PER BUSINESS DAY IN THE PREVIOUS YEAR N
TOP 5 VENUES RANKED IN TERMS OF VOLUME (DESCENDING ORDER) PROPORTION OF VOLUME TRADED AS A PERCENTAGE OF TOTAL IN THAT CLASS PROPORTION OF ORDERS EXECUTED AS A PERCENTAGE OF TOTAL IN THAT CLASS
Interactive Brokers Ireland Limited (5493001B9LDFCQUY9273) 100.00% 100.00%