MiFID II FAQs
Show content of What are Deutsche Numis' legal names and associated LEIs?
| (UK clients) NUMIS SECURITIES LIMITED (NSL) | 213800P3F4RT97WDSX47 |
| (EU clients) NUMIS EUROPE LTD. (NEL) | 2138009PEDF83DRV6M95 |
| (US clients) NUMIS SECURITIES INC. (NSI) | 213800GW3YZJDBPALN37 |
Above are the legal entities whose LEIs are most commonly requested. The LEIs for other Deutsche Numis group companies are available on request.
Show content of Which asset classes does Deutsche Numis trade?
We are a market maker, trading in a principal capacity, focussed on executing orders from our dealing clients in equity or equity-like instruments.
Show content of In what trading capacity or capacities (DEAL, AOTC or MTCH) will Deutsche Numis be acting?
It is our expectation that the trading capacity for all transactions will be “DEAL”.
Show content of Will Deutsche Numis be a Systematic Internaliser (“SI”)?
We do not plan to operate as a Systematic Internaliser as defined by MiFID II.
Show content of Will our clients need to trade report?
There may be limited scenarios where, under applicable law, the trade reporting obligation falls to our client. In most instances this is not the case. This is because when Deutsche Numis trades with its clients we generally do so under the rules of the London Stock Exchange ("LSE"). This means that we will bring trades "on Exchange" in accordance with the current LSE Rule 3000 (i.e. off-book, on-Exchange trades). The Exchange’s APA will then ensure any trade reporting obligations are met.
We expect that a small minority of transactions with Deutsche Numis will not be eligible to be brought on Exchange nor form part of a riskless principal chain where one leg is on venue. In such circumstances, if our client is the seller, then an obligation for them to trade report may arise. However, Deutsche Numis is offering clients the option to elect to receive an assisted trade reporting service (see below), at no charge. This will help our clients meet their trade reporting obligations.
Clients of Deutsche Numis that are not categorised as a MiFID Investment Firm will not have an obligation under MiFID II to trade report when trading with Numis in instruments captured by MiFID II.
Show content of Will Deutsche Numis offer assisted trade reporting?
If, under applicable law, our client has an obligation to trade report a transaction with Deutsche Numis then, providing our client has entered into an agreement to receive Deutsche Numis’ assisted trade reporting service, Deutsche Numis will determine whether our client has a responsibility to trade report and, if so, send the necessary details and instruction to our client’s APA (with whom our client will also have an assisted trade reporting agreement). We currently expect to support requests from our clients for assisted trade reporting to the APAs; TRADEcho or BATS. Other APAs may be added in due course.
Please let us know if you wish to receive our assisted trade reporting service and which APA you have engaged to trade report equity or equity-like transactions.
Show content of Will Deutsche Numis offer delegated transaction reporting?
Deutsche Numis will not be offering a delegated transaction reporting service.
Clients of Deutsche Numis that are not categorised as a MiFID Investment Firm will not have an obligation under MiFID II to transaction report when trading with Deutsche Numis in instruments captured by MiFID II.
Show content of Electronic Orders & Trading via FIX
We will adhere to FIX standards as developed for MiFID II. All relevant mandatory tags will be populated. If you have any bespoke requirements it is important you contact us (see MiFID II contacts below).
Show content of How can clients pay for access to Research Facilities?
Clients can pay for Research Facilities out of their own accounts, or through a research payment account.
Show content of Have you updated your Terms of Business?
Yes, These were updated in Q4 2017 for MiFID II, along with the accompanying policies that are required to be publicly disclosed.
Show content of Do you have a list of MiFID II contacts at Deutsche Numis if I have any further questions?
MiFID II general enquiries including broker questionnaires
Vicki Miller v.miller@dbnumis.com
Trading & sales trading
Simon Gandon s.gandon@dbnumis.com
Pierre Adams p.adams@dbnumis.com