IAML definition
Examples of IAML in a sentence
Any new approved counterparty is subjected to a due diligence process, focusing in particular on quality of execution and credit risk where the relevant counterparty will trade on an OTC basis with IAML.
The execution arrangements will be reviewed as circumstances dictate, and at least annually, unless IAML becomes aware that there is a material change in relevant external circumstances.
However, IAML will only notify clients of such a change when this is material and directly relevant to them, The Policy supersedes any previous Policy issued by IAML.
In cases where client orders in relation to a particular instrument are executed by IAML outside a Regulated Market or Multilateral Trading Facility after 1st November 2007, and the orders could in theory have been dealt with on such a market/facility, then IAML is required to obtain the relevant client’s prior express consent.
Where such monitoring and review is deemed to find that a venue or entity is not consistently providing the best possible result, IAML will first try and resolve the issue with the relevant venue and/or entity.
IAML uses a number of approved counterparties who are selected for their ability to allow it to take all reasonable steps to achieve the best possible result for its clients.
Internal monitoring, and where applicable transaction cost analysis tools, will be used for assessment, as well as information obtained from the various venues and entities used by IAML.
Entities or execution venues that IAML chooses to transmit orders to or execute orders (as applicable), will be selected on the basis of the quality of execution provided by that venue or entity.
As such, IAML has assessed a number of venues and entities to ensure they can provide the best possible result, which will be measured for consistency on transactions over a significant period.
Where resolution appears to be impossible, IAML will give due consideration to cease using that venue or entity.