Top 5 venue reporting regarding MIFID II;retail clients;financial year 2020;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);98,97%;89,66%;100,00%;0,00%;100,00%;
XNYS  New York (NYSE) (NAY);0,99%;6,90%;100,00%;0,00%;100,00%;
PINX  New York-PinkSh.-OTC (NUP);0,04%;3,45%;100,00%;0,00%;0,00%;
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);54,84%;58,38%;100,00%;0,00%;100,00%;
XNGS  New York - NASDAQ (NAD);25,65%;23,49%;100,00%;0,00%;100,00%;
XETR  XETRA (EDE);16,31%;16,23%;100,00%;0,00%;10,64%;
XSTU  Stuttgart (EDS);2,05%;0,35%;100,00%;0,00%;100,00%;
XASX  Sydney (AAS);1,00%;0,17%;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);47,85%;27,29%;100,00%;0,00%;50,27%;
XSWX  Zürich (ESE);14,46%;18,89%;100,00%;0,00%;100,00%;
XDUB  Dublin (EYD);9,83%;16,43%;100,00%;0,00%;94,12%;
XLON  London (EUL);7,84%;13,38%;100,00%;0,00%;100,00%;
XCSE  Kopenhagen (SDC);7,83%;9,61%;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);27,72%;18,29%;100,00%;0,00%;62,46%;
XNYS  New York (NYSE) (NAY);19,22%;37,14%;100,00%;0,00%;100,00%;
XNGS  New York - NASDAQ (NAD);12,71%;8,93%;100,00%;0,00%;100,00%;
XPAR  Paris (EFP);8,74%;6,67%;100,00%;0,00%;90,31%;
XLON  London (EUL);6,57%;6,65%;100,00%;0,00%;99,89%;
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);66,26%;89,29%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);31,98%;8,73%;100,00%;0,00%;18,18%;
XETR  XETRA (EDE);1,52%;0,79%;100,00%;0,00%;100,00%;
XNYS  New York (NYSE) (NAY);0,24%;1,19%;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; 
XETR  XETRA (EDE);100,00%;100,00%;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);55,13%;77,62%;100,00%;0,00%;79,50%;
BRFQ  BlOCKMATCH MTF RFQ (BRFQ);32,99%;16,09%;100,00%;0,00%;100,00%;
XLON  London (EUL);11,36%;5,95%;100,00%;0,00%;100,00%;
XSWX  Zürich (ESE);0,25%;0,15%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);0,21%;0,15%;100,00%;0,00%;37,50%;
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);68,13%;71,29%;100,00%;0,00%;100,00%;
XSWX  Zürich (ESE);31,87%;28,71%;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; 
XSTU  Stuttgart (EDS);65,93%;62,12%;100,00%;0,00%;100,00%;
XSWX  Zürich (ESE);31,11%;22,73%;100,00%;0,00%;100,00%;
XLON  London (EUL);2,86%;3,03%;100,00%;0,00%;50,00%;
XETR  XETRA (EDE);0,10%;7,58%;100,00%;0,00%;0,00%;
XMAD  Madrid (EEM);0,00%;4,55%;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;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%;60,32%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);8,63%;27,43%;100,00%;0,00%;31,72%;
XSTU  Stuttgart (EDS);4,14%;12,24%;100,00%;0,00%;93,98%;
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);78,28%;25,00%;100,00%;0,00%;100,00%;
XSTU  Stuttgart (EDS);12,60%;25,00%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);9,12%;50,00%;100,00%;0,00%;0,00%;
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);57,03%;35,88%;100,00%;0,00%;100,00%;
XSTU  Stuttgart (EDS);26,20%;40,11%;100,00%;0,00%;98,47%;
XFRA  Frankfurt (EDF);16,61%;23,84%;100,00%;0,00%;42,06%;
XHAM  Hamburg (EDH);0,13%;0,11%;100,00%;0,00%;0,00%;
DUSA  Düsseldorf (EDD);0,02%;0,06%;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);36,77%;12,58%;100,00%;0,00%;100,00%;
XSTU  Stuttgart (EDS);35,87%;54,30%;100,00%;0,00%;100,00%;
XFRA  Frankfurt (EDF);27,36%;33,11%;100,00%;0,00%;28,00%;
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;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; 
XSTU  Stuttgart (EDS);95,57%;78,12%;100,00%;0,00%;95,33%;
XFRA  Frankfurt (EDF);4,43%;21,88%;100,00%;0,00%;78,85%;
Class of Instrument;BE23 (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; 
XFRA  Frankfurt (EDF);100,00%;100,00%;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; 
DUSA  Düsseldorf (EDD);93,99%;57,14%;100,00%;0,00%;75,00%;
XSTU  Stuttgart (EDS);5,99%;33,33%;100,00%;0,00%;85,71%;
XFRA  Frankfurt (EDF);0,01%;9,52%;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%;59,15%;
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);62,94%;20,00%;100,00%;0,00%;100,00%;
XSTU  Stuttgart (EDS);37,06%;80,00%;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%;
Class of Instrument;CB99 (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; 
WIAX  Warburg Invest AG (WIAG);52,26%;78,57%;100,00%;0,00%;63,64%;
XFRA  Frankfurt (EDF);36,32%;14,29%;100,00%;0,00%;100,00%;
XSTU  Stuttgart (EDS);11,42%;7,14%;100,00%;0,00%;100,00%;