Alternative Liquidity Pool Guidelines of Third Party Service Providers
Jefferies Hong Kong Limited (JHKL) provides electronic trading services to our clients. Such services enable the access and execution of trades via alternative liquidity pools (ALP), commonly known as dark pools, operated by other service providers. JHKL does not operate any of the ALPs provided to our clients.
According to the requirements under paragraph 19.7 in the Code of Conduct for persons licensed by or registered with the Securities and Futures Commission (Code), users of an ALP should be provided with the ALP Guidelines prior to placing or originating an order so that the user has been fully informed as to the manner in which the ALP operates.
Below are the guidelines for ALPs provided by JHKL via third-party financial institutions. Such guidelines may be revised from time to time by the respective providers. Users should refer to the relevant guidelines for any amendments or updates.
- Morgan Stanley (additional FAQ)
- SMBC Nikko
Your orders may be routed to the ALPs operated by these third-party providers. Please contact your sales representatives at Jefferies should you decide to opt-out to any of these ALP(s) or discuss the options available to you.
This document is provided solely for information purposes as required by the Code. This information is not a solicitation or recommendation to purchase securities or other financial instruments or a suggestion to use the trading services of any financial institutions. JHKL makes no representation, warranty or guarantee, express or implied, concerning this document and its contents, including whether the information is accurate, complete or current.
The service is intended for use by sophisticated investors with adequate resources to assume the financial risks presented and to have a thorough understanding of how the service operates. Pursuant to the Code, JHKL shall only route orders of “qualified investors” (as defined in the Code) which are ultimately responsible for originating the instruction in relation to an order placed into or executed in the ALP.
Links to websites provided herein are for reference and convenience. By clicking on the links to these websites you will be leaving the Jefferies website and you acknowledge that Jefferies has no control over the content of those websites or the continued availability of the materials you may find there.