We have chosen to execute the transaction with a market maker that is offering a current price for the size and direction we are looking to trade. This will always be done at best current price.
We have chosen to execute the transaction by placing our interest in the market, awaiting a market maker or broker to offer a price against the size and shape we are looking to execute. If we are provided with a limit price that is outside the current market offering we would take this approach.
We do not provide this execution method, in this scenario it is the client that instructs Tilney of the venue in which the trade is to be executed. Tilney reserve the right to trade in line with our execution policy in order to get the client the best available price.
This is an all-encompassing name given to traditional stock exchanges and market-makers, as well as the newer types of dealers such as large international investment banks and others whose business it is to deal in investments.