Top Brokers Reporting

The reports for 2018, 2019 and 2020 are shown below. The report for 2021 is due in April 2022.

Oak Pension Asset Management Limited – RTS 28 Report 2020

Oak Pension Asset Management Limited (“OPAM”) is a wholly owned subsidiary of Barclays Pension Funds Trustees Limited (“BPFTL”), authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN 526038) as an occupational pension scheme (“OPS”) firm. OPAM has been appointed to provide investment advisory and management services to BPFTL in relation to the Barclays Bank UK Retirement Fund. OPAM publishes this report pursuant to COBS 11.2A and COBS 11 Annex 1 EU as applied/modified by COBS 18.8A of the FCA Handbook. This report shows the top five investment firms in terms of trading volumes where OPAM transmitted or placed client orders for execution in the period 1 January 2020 to 31 December 2020 and information on the quality of execution obtained.

OPAM has a sole client, BPFTL (the “Client”) which is a categorised as a professional client. The vast majority of OPAM’s investment activities involve assets managed by third party managers on behalf of the Client. OPAM has authority from the Client to issue trade instructions to third party managers on its behalf.

OPAM issues instructions to third party managers who are contracted directly with the Client. These third party managers have contracted with the Client to provide best execution. These entities are authorised and regulated by the Financial Conduct Authority, and subject to publishing an RTS 28 disclosure as part of their own MiFID best execution obligations.

Class of instrument Notification if <1 average trade per business day in the previous year Top five execution venues ranked in terms of trading volumes (descending order) Execution venue LEI Proportion of volume traded as a percentage of total in that class Proportion of orders executed as percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Class of instrumentEquity derivatives Notification if <1 average trade per business day in the previous yearY Top five execution venues ranked in terms of trading volumes (descending order)BlackRock Investment Management (UK) Limited Execution venue LEI549300QXP30FD81KVQ43 Proportion of volume traded as a percentage of total in that class100% Proportion of orders executed as percentage of total in that class100% Percentage of passive ordersN/A Percentage of aggressive ordersN/A Percentage of directed ordersN/A
Class of instrumentOther credit derivatives Notification if <1 average trade per business day in the previous yearY Top five execution venues ranked in terms of trading volumes (descending order)Insight Investment Management (Global) Limited Execution venue LEI213800NR44FZFC9RPO56 Proportion of volume traded as a percentage of total in that class100% Proportion of orders executed as percentage of total in that class100% Percentage of passive ordersN/A Percentage of aggressive ordersN/A Percentage of directed ordersN/A
Class of instrumentOther instruments Notification if <1 average trade per business day in the previous yearY Top five execution venues ranked in terms of trading volumes (descending order)Towers Watson Limited Execution venue LEI549300Q0KSEZVTYZGG48 Proportion of volume traded as a percentage of total in that class100% Proportion of orders executed as percentage of total in that class100% Percentage of passive ordersN/A Percentage of aggressive ordersN/A Percentage of directed ordersN/A
  1. 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
    The factors that OPAM takes into account include price, cost of trading, speed, likelihood of execution, the size of the order, and the nature of the instrument as well as any other consideration relevant to the execution of the order at the time of trading. The investment firms used to execute orders are subject to ongoing review and at least on an annual basis.
  2. Description of any close links, conflicts of interests, and common ownerships with respect to any execution venues used to execute orders
    There are no close links, conflicts of interest and common ownerships with the investment firms used to execute orders.
  3. Description of any specific arrangements with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received
    OPAM neither makes nor receives any payment, discount, rebate or non-monetary benefit to/from the investment firms used to execute orders.
  4. 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.
    Asset allocation decisions led to an additional instrument class being included in the report. There was no change to OPAM’s execution policy.
  5. 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
    Not applicable. OPAM has a sole client, BPFTL.
  6. 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
    Not applicable. OPAM’s sole client is categorised as a professional client.
  7. Explanation of how the investment firm has used any data or tools relating to the quality of execution, including any data published under Commission Delegated Regulation (EU) 2017/575
    Not used
  8. Where applicable, an explanation of how the investment firm has used output of a consolidated tape provider established under Article 65 of Directive 2014/65/EU
    Not applicable

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Oak Pension Asset Management Limited – RTS 28 Report 2019

Oak Pension Asset Management Limited (“OPAM”) is a wholly owned subsidiary of Barclays Pension Funds Trustees Limited (“BPFTL”), authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN 526038) as an occupational pension scheme (“OPS”) firm. OPAM has been appointed to provide investment advisory and management services to BPFTL in relation to the Barclays Bank UK Retirement Fund. OPAM publishes this report pursuant to COBS 11.2A and COBS 11 Annex 1 EU as applied/modified by COBS 18.8A of the FCA Handbook. This report shows the top five investment firms in terms of trading volumes where OPAM transmitted or placed client orders for execution in the period 1 January 2019 to 31 December 2019 and information on the quality of execution obtained.

OPAM has a sole client, BPFTL (the “Client”) which is a categorised as a professional client. The vast majority of OPAM’s investment activities involve assets managed by third party managers on behalf of the Client. OPAM has authority from the Client to issue trade instructions to third party managers on its behalf.

OPAM issues instructions to third party managers who are contracted directly with the Client. These third party managers have contracted with the Client to provide best execution. These entities are authorised and regulated by the Financial Conduct Authority, and subject to publishing an RTS 28 disclosure as part of their own MiFID best execution obligations.

Class of instrument Notification if <1 average trade per business day in the previous year Top five execution venues ranked in terms of trading volumes (descending order) Execution venue LEI Proportion of volume traded as a percentage of total in that class Proportion of orders executed as percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Class of instrumentEquity derivatives Notification if <1 average trade per business day in the previous yearY Top five execution venues ranked in terms of trading volumes (descending order)BlackRock Investment Management (UK) Limited Execution venue LEI549300QXP30FD81KVQ43 Proportion of volume traded as a percentage of total in that class100% Proportion of orders executed as percentage of total in that class100% Percentage of passive ordersN/A Percentage of aggressive ordersN/A Percentage of directed ordersN/A
Class of instrumentCurrency derivatives Notification if <1 average trade per business day in the previous yearY Top five execution venues ranked in terms of trading volumes (descending order)BlackRock Investment Management (UK) Limited Execution venue LEI549300QXP30FD81KVQ43 Proportion of volume traded as a percentage of total in that class100% Proportion of orders executed as percentage of total in that class100% Percentage of passive ordersN/A Percentage of aggressive ordersN/A Percentage of directed ordersN/A
Class of instrumentOther instruments Notification if <1 average trade per business day in the previous yearY Top five execution venues ranked in terms of trading volumes (descending order)Towers Watson Limited Execution venue LEI549300Q0KSEZVTYZGG48 Proportion of volume traded as a percentage of total in that class47% Proportion of orders executed as percentage of total in that class86% Percentage of passive ordersN/A Percentage of aggressive ordersN/A Percentage of directed ordersN/A
Class of instrumentOther instruments Notification if <1 average trade per business day in the previous yearY Top five execution venues ranked in terms of trading volumes (descending order)Aberdeen Asset Managers Execution venue LEI549300EI2QZDOKF0UR93 Proportion of volume traded as a percentage of total in that class53% Proportion of orders executed as percentage of total in that class14% Percentage of passive ordersN/A Percentage of aggressive ordersN/A Percentage of directed ordersN/A
  1. 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
    The factors that OPAM takes into account include price, cost of trading, speed, likelihood of execution, the size of the order, and the nature of the instrument as well as any other consideration relevant to the execution of the order at the time of trading. The investment firms used to execute orders are subject to ongoing review and at least on an annual basis.
  2. Description of any close links, conflicts of interests, and common ownerships with respect to any execution venues used to execute orders
    There are no close links, conflicts of interest and common ownerships with the investment firms used to execute orders.
  3. Description of any specific arrangements with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received
    OPAM neither makes nor receives any payment, discount, rebate or non-monetary benefit to/from the investment firms used to execute orders.
  4. 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.
    Asset allocation decisions led to an additional instrument class being included in the report. There was no change to OPAM’s execution policy.
  5. 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
    Not applicable. OPAM has a sole client, BPFTL.
  6. 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
    Not applicable. OPAM’s sole client is categorised as a professional client.
  7. Explanation of how the investment firm has used any data or tools relating to the quality of execution, including any data published under Commission Delegated Regulation (EU) 2017/575
    Not used
  8. Where applicable, an explanation of how the investment firm has used output of a consolidated tape provider established under Article 65 of Directive 2014/65/EU
    Not applicable

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Oak Pension Asset Management Limited – RTS 28 Report 2018

Oak Pension Asset Management Limited (“OPAM”) is a wholly owned subsidiary of Barclays Pension Funds Trustees Limited (“BPFTL”), authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN 526038) as an occupational pension scheme (“OPS”) firm. OPAM has been appointed to provide investment advisory and management services to BPFTL in relation to the Barclays Bank UK Retirement Fund. OPAM publishes this report pursuant to COBS 11.2A and COBS 11 Annex 1 EU as applied/modified by COBS 18.8A of the FCA Handbook. This report shows the top five investment firms in terms of trading volumes where OPAM transmitted or placed client orders for execution in the period 1 January 2018 to 31 December 2018 and information on the quality of execution obtained.

OPAM has a sole client, BPFTL (the “Client”) which is a categorised as a professional client. The vast majority of OPAM’s investment activities involve assets managed by third party managers on behalf of the Client. OPAM has authority from the Client to issue trade instructions to third party managers on its behalf.

OPAM issues instructions to third party managers who are contracted directly with the Client. These third party managers have contracted with the Client to provide best execution. These entities are authorised and regulated by the Financial Conduct Authority, and subject to publishing an RTS 28 disclosure as part of their own MiFID best execution obligations.

Class of instrument Notification if <1 average trade per business day in the previous year Top five execution venues ranked in terms of trading volumes (descending order) Execution venue LEI Proportion of volume traded as a percentage of total in that class Proportion of orders executed as percentage of total in that class Percentage of passive orders Percentage of aggressive orders Percentage of directed orders
Class of instrumentEquity derivatives Notification if <1 average trade per business day in the previous yearY Top five execution venues ranked in terms of trading volumes (descending order)BlackRock Investment Management (UK) Limited Execution venue LEI549300QXP30FD81KVQ43 Proportion of volume traded as a percentage of total in that class100% Proportion of orders executed as percentage of total in that class100% Percentage of passive ordersN/A Percentage of aggressive ordersN/A Percentage of directed ordersN/A
Class of instrumentCurrency derivatives Notification if <1 average trade per business day in the previous yearY Top five execution venues ranked in terms of trading volumes (descending order)BlackRock Investment Management (UK) Limited Execution venue LEI549300QXP30FD81KVQ43 Proportion of volume traded as a percentage of total in that class100% Proportion of orders executed as percentage of total in that class100% Percentage of passive ordersN/A Percentage of aggressive ordersN/A Percentage of directed ordersN/A
  1. 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
    The factors that OPAM takes into account include price, cost of trading, speed, likelihood of execution, the size of the order, and the nature of the instrument as well as any other consideration relevant to the execution of the order at the time of trading. The investment firm used to execute orders are subject to ongoing review and at least on an annual basis.
  2. Description of any close links, conflicts of interests, and common ownerships with respect to any execution venues used to execute orders
    There are no close links, conflicts of interest and common ownerships with the investment firm used to execute orders.
  3. Description of any specific arrangements with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received
    OPAM neither makes nor receives any payment, discount, rebate or non-monetary benefit to/from the investment firm used to execute orders.
  4. 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.
    No change
  5. 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
    Not applicable. OPAM has a sole client, BPFTL.
  6. 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
    Not applicable. OPAM’s sole client is categorised as a professional client.
  7. Explanation of how the investment firm has used any data or tools relating to the quality of execution, including any data published under Commission Delegated Regulation (EU) 2017/575
    Not used
  8. Where applicable, an explanation of how the investment firm has used output of a consolidated tape provider established under Article 65 of Directive 2014/65/EU
    Not applicable
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