Top 5 venue reporting regarding MIFID II;professional clients;financial year 2019;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; 
XNYS  New York (NYSE) (NAY);79,93%;60,00%;100,00%;0,00%;100,00%;
XETR  XETRA (EDE);16,11%;26,67%;100,00%;0,00%;0,00%;
XNGS  New York - NASDAQ (NAD);2,15%;6,67%;100,00%;0,00%;100,00%;
XLON  London (EUL);1,80%;6,67%;100,00%;0,00%;100,00%;
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);73,60%;69,37%;100,00%;0,00%;100,00%;
XNGS  New York - NASDAQ (NAD);14,81%;19,09%;100,00%;0,00%;100,00%;
XTKS  Tokio (FJT);3,83%;2,88%;100,00%;0,00%;97,62%;
XSWX  Zürich (ESE);2,12%;0,69%;100,00%;0,00%;100,00%;
XAMS  Amsterdam (ENA);1,58%;0,89%;100,00%;0,00%;92,31%;
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);50,16%;80,13%;100,00%;0,00%;27,47%;
XPAR  Paris (EFP);11,70%;3,15%;100,00%;0,00%;98,11%;
XDUB  Dublin (EYD);10,43%;2,68%;100,00%;0,00%;73,33%;
XVTX  Zurich - Swiss Blue (ESZ);8,18%;1,31%;100,00%;0,00%;100,00%;
XSWX  Zürich (ESE);7,95%;5,83%;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);37,44%;39,12%;100,00%;0,00%;25,78%;
XNYS  New York (NYSE) (NAY);18,28%;21,15%;100,00%;0,00%;100,00%;
XNGS  New York - NASDAQ (NAD);12,57%;12,59%;100,00%;0,00%;100,00%;
XPAR  Paris (EFP);8,35%;5,18%;100,00%;0,00%;79,92%;
XLON  London (EUL);3,94%;5,46%;100,00%;0,00%;100,00%;
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);65,84%;50,00%;100,00%;0,00%;100,00%;
XASX  Sydney (AAS);20,84%;25,00%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);13,32%;25,00%;100,00%;0,00%;0,00%;
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; 
XLON  London (EUL);54,32%;8,33%;100,00%;0,00%;100,00%;
XSTU  Stuttgart (EDS);23,19%;58,33%;100,00%;0,00%;28,57%;
XETR  XETRA (EDE);12,05%;25,00%;100,00%;0,00%;0,00%;
XNYS  New York (NYSE) (NAY);10,43%;8,33%;100,00%;0,00%;100,00%;
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);100,00%;100,00%;100,00%;0,00%;100,00%;
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;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; 
XLON  London (EUL);46,25%;22,14%;100,00%;0,00%;98,36%;
XETR  XETRA (EDE);39,08%;68,06%;100,00%;0,00%;24,53%;
BRFQ  BlOCKMATCH MTF RFQ (BRFQ);7,26%;3,09%;100,00%;0,00%;100,00%;
CHIX  London - Chi-X Europ (EUI);4,11%;3,45%;100,00%;0,00%;100,00%;
XSWX  Zürich (ESE);1,98%;1,09%;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);64,73%;40,00%;100,00%;0,00%;100,00%;
XSWX  Zürich (ESE);35,27%;60,00%;100,00%;0,00%;100,00%;
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; 
XSWX  Zürich (ESE);96,52%;4,76%;100,00%;0,00%;100,00%;
XMAD  Madrid (EEM);3,10%;66,67%;100,00%;0,00%;50,00%;
XMCE  Madrid-Soc.d.Bolsas (EES);0,27%;14,29%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);0,11%;14,29%;100,00%;0,00%;0,00%;
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;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);99,77%;97,99%;100,00%;0,00%;100,00%;
XSTU  Stuttgart (EDS);0,22%;1,61%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);0,02%;0,40%;100,00%;0,00%;100,00%;
Class of Instrument;BA11 (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;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);87,23%;68,77%;100,00%;0,00%;99,21%;
XSTU  Stuttgart (EDS);9,28%;21,12%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);3,49%;10,11%;100,00%;0,00%;30,36%;
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);88,31%;65,71%;100,00%;0,00%;97,83%;
XSTU  Stuttgart (EDS);8,20%;24,29%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);3,49%;10,00%;100,00%;0,00%;0,00%;
Class of Instrument;BB99 (Structured financial products);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;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);86,89%;78,03%;100,00%;0,00%;99,43%;
XFRA  Frankfurt (EDF);13,11%;21,97%;100,00%;0,00%;12,24%;
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);74,61%;33,33%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);25,39%;66,67%;100,00%;0,00%;0,00%;
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);53,50%;33,33%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);46,50%;66,67%;100,00%;0,00%;0,00%;
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%;25,93%;
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; 
XASX  Sydney (AAS);100,00%;100,00%;100,00%;0,00%;100,00%;
Class of Instrument;CA99 (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%;