RTS 28 Annual Best Execution Disclosure

For the year ended 31 December 2018

Albert Bridge Capital LLP (“Albert Bridge” or the “Firm”) is required to provide an annual disclosure regarding execution venues and brokers that it uses for each asset class as well as information regarding the quality of execution received. This disclosure covers the following classes of financial instruments that were traded during the period.

The Firm invests on behalf of its clients, primarily in equities and as such, the financial instruments traded in the period were equity shares, equity derivatives (such as equity swaps / cfds and listed single stock options) and currency derivatives (where foreign exchange forwards are traded for hedging purposes). For the purposes of this disclosure the firm is further required to present the equity share disclosure based on the defined “tick size liquidity bands”:

(i) Tick size liquidity bands 5 and 6 (from 2000 trades per day)

(ii) Tick size liquidity bands 3 and 4 (from 80 to 1999 trades per day)

(iii) Tick size liquidity band 1 and 2 (from 0 to 79 trades per day)

The Firm’s strategy is to trade in highly liquid, all listed stocks primarily in developed European markets although it may choose to trade certain U.S. stocks and therefore the large majority of stocks traded would fall into the “5 and 6” liquidity band.

The Firm continually assesses the list of counterparties it uses with the ultimate goal of obtaining the best result for our clients. Although the firm has pre-negotiated commissions and it maintains an internal transaction cost analysis, the commission rates are not always the most important factor when choosing an executing broker. As a significant proportion of orders are algorithmic in nature (such as VWAP), order size and likelihood of execution in the manner intended can be more important. All executions are monitored by the trader with an informal review performed by the portfolio manager.

Client Classification

The Firm has no Retail Clients and it only deals with Professional Clients.

Close Links

There are no close links, common ownership that would give rise to any conflicts of interests with any of the execution venues or brokers used. Additionally, none of our clients have discretion over the counterparties used to trade

Special Arrangements

The Firm does not have any special arrangements in place not does it receive a discount on these services. Although we may on occasion receive short term market colour from our execution providers, it does not influence the choice of executing broker.

Changes to Execution Brokers and Venues

Counterparties are continually assessed and the Firm may at its discretion remove or add from the authorized broker list depending on results of its execution and broker reviews as well as trading requirements.

Albert Bridge has not used RTS 27 reports or RTS 28 reports produced by execution venues or brokers during the period under review (2017), as these were not available.