Top 5 venue reporting regarding MIFID II;retail clients;financial year 2018;Marcard, Stein & CO AG;
Class of Instrument;AA99 (Equity instruments- Shares and share certificates);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XNGS  New York - NASDAQ (NAD);93,79%;96,57%;100,00%;0,00%;100,00%;
XASE  New York (AMEX) (NAA);5,17%;1,14%;100,00%;0,00%;50,00%;
XJSE  Johannesburg (KSJ);0,42%;0,57%;100,00%;0,00%;0,00%;
XLON  London (EUL);0,41%;0,57%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);0,22%;1,14%;100,00%;0,00%;50,00%;
Class of Instrument;AA99 (Equity instruments- Shares and share certificates);Tick Size AB (liquidity band A and liquidity band B);
Information on whether an average of < 1 trade per business day was executed in the previous year;N;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XNYS  New York (NYSE) (NAY);47,63%;47,99%;100,00%;0,00%;100,00%;
XNGS  New York - NASDAQ (NAD);39,80%;37,79%;100,00%;0,00%;100,00%;
PURE  Toronto Pure (NCP);4,35%;5,18%;100,00%;0,00%;100,00%;
XETR  XETRA (EDE);3,63%;6,03%;100,00%;0,00%;1,67%;
XTKS  Tokio (FJT);1,10%;0,40%;100,00%;0,00%;100,00%;
Class of Instrument;AA99 (Equity instruments- Shares and share certificates);Tick Size CD (liquidity band C and liquidity band D);
Information on whether an average of < 1 trade per business day was executed in the previous year;N;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XETR  XETRA (EDE);29,74%;36,52%;100,00%;0,00%;30,31%;
XPAR  Paris (EFP);18,94%;20,46%;100,00%;0,00%;98,94%;
XNGS  New York - NASDAQ (NAD);14,36%;11,61%;100,00%;0,00%;100,00%;
XOSL  Oslo (SNO);5,89%;5,86%;100,00%;0,00%;100,00%;
XCSE  Kopenhagen (SDC);5,37%;6,02%;100,00%;0,00%;100,00%;
Class of Instrument;AA99 (Equity instruments- Shares and share certificates);Tick Size EF (liquidity band E and liquidity band F);
Information on whether an average of < 1 trade per business day was executed in the previous year;N;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XETR  XETRA (EDE);45,50%;39,20%;100,00%;0,00%;68,03%;
XPAR  Paris (EFP);13,55%;14,58%;100,00%;0,00%;96,46%;
XLON  London (EUL);7,80%;8,64%;100,00%;0,00%;100,00%;
XSWX  Zürich (ESE);6,15%;7,00%;100,00%;0,00%;100,00%;
XAMS  Amsterdam (ENA);4,98%;6,49%;100,00%;0,00%;96,44%;
Class of Instrument;AB99 (Equity instruments- Shares and share certificates);Tick Size AB (liquidity band A and liquidity band B);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XNGS  New York - NASDAQ (NAD);37,25%;20,37%;100,00%;0,00%;100,00%;
PINX  New York-PinkSh.-OTC (NUP);30,84%;40,74%;100,00%;0,00%;100,00%;
XNYS  New York (NYSE) (NAY);25,27%;34,26%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);6,64%;4,63%;100,00%;0,00%;100,00%;
Class of Instrument;AB99 (Equity instruments- Shares and share certificates);Tick Size CD (liquidity band C and liquidity band D);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XNYS  New York (NYSE) (NAY);92,46%;90,11%;100,00%;0,00%;100,00%;
XETR  XETRA (EDE);7,54%;9,89%;100,00%;0,00%;11,11%;
Class of Instrument;AB99 (Equity instruments- Shares and share certificates);Tick Size EF (liquidity band E and liquidity band F);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XSTO  Stockholm (SSS);64,45%;42,86%;100,00%;0,00%;100,00%;
XLON  London (EUL);17,85%;14,29%;100,00%;0,00%;100,00%;
XPAR  Paris (EFP);12,09%;28,57%;100,00%;0,00%;100,00%;
XETR  XETRA (EDE);5,61%;14,29%;100,00%;0,00%;0,00%;
Class of Instrument;AC99 (Exchange traded products (ETPs)Exc);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;N;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XETR  XETRA (EDE);66,88%;88,93%;100,00%;0,00%;33,55%;
XLON  London (EUL);23,25%;6,06%;100,00%;0,00%;100,00%;
CHIX  London - Chi-X Europ (EUI);6,22%;1,98%;100,00%;0,00%;100,00%;
XPAR  Paris (EFP);1,48%;0,35%;100,00%;0,00%;100,00%;
XAMS  Amsterdam (ENA);1,25%;0,23%;100,00%;0,00%;100,00%;
Class of Instrument;AD99 (other instruments);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XVTX  Zurich - Swiss Blue (ESZ);77,22%;84,91%;100,00%;0,00%;100,00%;
XSWX  Zürich (ESE);17,62%;11,32%;100,00%;0,00%;100,00%;
XETR  XETRA (EDE);5,17%;3,77%;100,00%;0,00%;0,00%;
Class of Instrument;AE99 (other instruments);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XOFF  Bloomberg (BLOM);62,80%;1,96%;100,00%;0,00%;100,00%;
XSTU  Stuttgart (EDS);18,68%;40,20%;100,00%;0,00%;63,41%;
XFRA  Frankfurt (EDF);12,46%;4,90%;100,00%;0,00%;100,00%;
XSWX  Zürich (ESE);5,21%;3,92%;100,00%;0,00%;75,00%;
XETR  XETRA (EDE);0,82%;43,14%;100,00%;0,00%;18,18%;
Class of Instrument;BA10 (Debt instruments);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;N;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XOFF  Bloomberg (BLOM);92,88%;84,06%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);4,06%;7,11%;100,00%;0,00%;51,85%;
XSTU  Stuttgart (EDS);3,06%;8,83%;100,00%;0,00%;56,72%;
Class of Instrument;BA12 (Debt instruments);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XOFF  Bloomberg (BLOM);79,32%;92,31%;100,00%;0,00%;100,00%;
XSTU  Stuttgart (EDS);20,68%;7,69%;100,00%;0,00%;100,00%;
Class of Instrument;BA13 (Debt instruments);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XOFF  Bloomberg (BLOM);100,00%;100,00%;100,00%;0,00%;100,00%;
Class of Instrument;BA14 (Debt instruments);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;N;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XOFF  Bloomberg (BLOM);71,55%;52,94%;100,00%;0,00%;100,00%;
XSTU  Stuttgart (EDS);18,72%;37,05%;100,00%;0,00%;94,82%;
XFRA  Frankfurt (EDF);9,02%;9,53%;100,00%;0,00%;28,93%;
DUSA  Düsseldorf (EDD);0,71%;0,48%;100,00%;0,00%;100,00%;
Class of Instrument;BA15 (Debt instruments);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XOFF  Bloomberg (BLOM);66,18%;68,91%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);23,79%;17,10%;100,00%;0,00%;27,27%;
XSTU  Stuttgart (EDS);10,04%;13,99%;100,00%;0,00%;96,30%;
Class of Instrument;BE21 (securitized derivatives);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XSTU  Stuttgart (EDS);80,61%;85,27%;100,00%;0,00%;99,20%;
XFRA  Frankfurt (EDF);19,39%;14,73%;100,00%;0,00%;37,21%;
Class of Instrument;BE24 (securitized derivatives);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XSTU  Stuttgart (EDS);100,00%;100,00%;100,00%;0,00%;100,00%;
Class of Instrument;BE99 (securitized derivatives);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XSTU  Stuttgart (EDS);100,00%;100,00%;100,00%;0,00%;100,00%;
Class of Instrument;BF99 (Exchange traded products (ETPs));Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XETR  XETRA (EDE);100,00%;100,00%;100,00%;0,00%;57,14%;
Class of Instrument;C999 (no specific classification);Tick Size -- (not used);
Information on whether an average of < 1 trade per business day was executed in the previous year;Y;
Top five execution venues ranked in terms of trading volumes (descending order) ;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; 
XFRA  Frankfurt (EDF);100,00%;100,00%;100,00%;0,00%;100,00%;