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Important legal and regulatory information

Terms of use

Before using this website, you should read the following important information carefully. This information governs your use of this website and, by using this website, you indicate that you accept these terms of use and that you agree to be bound by them. If you do not agree, please do not use our website. The content of this website, including these terms, may be changed by us without notice, and you should check this page from time to time.

Regulatory information

Rexigon Securities Limited ("Rexigon") is authorised and regulated by the Financial Conduct Authority ("FCA") . Our FCA registration details are set out in the FCA Register under Firm Reference number 733400. 

 

Rexigon is registered in England and Wales (registered number 09486463) and our registered office is 63 St Mary’s Axe, London.

Suitability

Rexigon Securities does not provide any advice. The information contained in this website should not be regarded as advice or an offer, invitation or solicitation to enter into any financial obligation, activity or promotion of any kind as defined by the Financial Services and Markets Act 2000. The provision of any investment services and products, whether or not mentioned in this website, may not always be suitable for an investor, and we recommend that any potential investor consults a financial adviser before entering into any investment contract.

Privacy Policy

We are committed to protecting your privacy. Information we collect about you will be used to send you details of our products or services that you have requested. By using this website you agree to the use of your information as set out in this statement. We are registered, and process your data, in accordance with the Data Protection Act 1998 ("DPA"). You have certain rights under the DPA in respect of the information we hold about you. You are entitled to a copy of the information held about you. Your right of access can be exercised in accordance with the DPA and any access request may be subject to a fee.

Cookie Policy

This website uses cookies. Cookies are small amounts of information that are stored on your computer to enable our server to collect certain information from your web browser. Cookies in themselves do not identify the individual, just the computer used. Cookies and other similar technology make it easier for you to log on to and use the website during future visits. Our cookies are used to keep track of your online session, they are maintained throughout multiple sessions on the site. Our cookies do not collect any personal identifying information or confidential information such as passwords or policy numbers. Most browsers are initially set to accept cookies, but you can alter this if you prefer. However, if you disable session cookies some parts of our website will not function as designed. Please visit http://www.allaboutcookies.org/manage-cookies

Jurisdiction

Rexigon's website is intended for persons in the United Kingdom only, and its content should not be regarded as an invitation or inducement to engage in investment activity, as defined by the Financial Services and Markets Act 2000 to persons in any other jurisdiction. These terms of use shall be governed by and construed in accordance with English law.

 

Execution Venues

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Copyright

You may use information on this website for your own personal reference only. All information and material on this website is copyrighted to Rexigon Securities Ltd.

The information on this website is provided in good faith and no representation, guarantee or warranty is made by us as to its accuracy. We shall not be liable for any loss or damage arising out of the use of or reliance on the information contained in our website. This does not affect our duty or liability to you which we have under the Financial Services and Markets Act 2000 or under the regulatory system. Rexigon Securities accepts no liability for information contained within websites provided by third parties that may have links to or from our website.

Complaint Procedure

We take care to maintain high standards of service. If we are aware of client concerns or unease, we give priority to resolving the matter as quickly as possible. To assist with this process we have prepared procedures to ensure that complaints are handled fairly and within reasonable timescales. The below is a summary of our complaint handling procedure. A copy of our full procedure is available on request.

How to make a complaint.

If you have a complaint about us and/or our services, you should direct this in the first instance to your investment manager. If you are uncomfortable doing so, your complaint can be directed to the Chief Executive Officer. You can complain in writing, by telephone, or via e-mail. Details can be found on the Contact us page.

What happens after I have complained?

Upon receipt of a complaint, a senior person who, where possible is independent of the case, will investigate the complaint. You will be given the name and contact details of the person dealing with your complaint. We will aim to resolve the complaint as quickly as possible. The person investigating your complaint will;

  • Initiate a record and file of your complaint; and
  • Acknowledge your complaint as soon as is reasonably practicable after the receipt of your complaint. This will generally be within 5 working days of receipt.

The acknowledgement may, especially in the case of an oral complaint, set out the nature of the complaint and may request further clarification if necessary. Your complaint will be investigated using our files together with reports from other parties if relevant. We may also write to you if further information is required.

We will keep you informed of the progress of the complaint investigation. After eight weeks, if a final response letter has not already been sent to you, you will receive a final response letter detailing our conclusions and resolution to the complaint. If we are not in a position to make a final response, we will give the reasons for the delay and will indicate when we expect to be able to provide a full response.

What if I am still not satisfied?

Within our final response letter to you, we will include details of the Financial Ombudsman Service (the “FOS”) whom, provided you are an eligible complainant, you have the right to right to refer a complaint if you are not satisfied with our response. Any referral to the FOS must be made within 6 months of receiving our final response. Further information about the FOS and whether you are an eligible complainant can be found at http://www.financial-ombudsman.org.uk or by calling 0800 023 4567.

 

Pillar III Disclosures as at 31.03.2019

Given the industry that the firm operates in it is subject to a number of risks including but not exclusively credit risk, market risk, operational risk, liquidity risk, interest rate risk and securitisation risk. Each risk category has a greater or lesser impact on the firm but risk management in its entirety is considered a key component to the functioning of the firm and will continue to be a focus of management. Each risk category has been identified and analysed to understand the impact it has on the firm and then steps have been put in place to make sure all risks are mitigated as far as is reasonably possible.

Credit Risk

This is divided into counterparty risk and concentration risk but it is essentially the risk that losses will arise from counterparties and clients failing to make good their obligations. The main material risks result from amounts due from market and client counterparties however to mitigate these risks the firm does the vast majority of trades on delivery versus payments i.e. free deliveries are not made. Also, the firm will only use recognised stock exchanges or retail service providers (RSP). The vast majority of transactions are executed by the firm as Agent but the firm does have permission to act as Principal but this is limited to being a matched principal broker only. The concentration risk is mitigated by only using highly credit rated banks and institutions, and also exposure is spread over a number of counterparties.

Market Risk

Market Risk is the risk that a firm may incur losses under normal market conditions on a trading book position or portfolio. The firm’s activities in relation to MiFID financial instruments are limited to fulfilling or executing a client order and gaining entrance to a clearing and settlement system or recognised exchange. The firm is exposed to a small amount of foreign exchange risk through its foreign currency activity. Foreign exchange positions are monitored daily and are held for operational reasons.

Operational Risk

This is the risk facing the firm from a failure of or inappropriate internal processes, people and/or systems. The firm does not consider it possible to eliminate operational risk in its entirety but it aims to reduce the risk with due regard to the cost of achieving this relative to the potential impact. The firm’s approach for monitoring, recording and mitigating operational risk is appropriate to its size and complexities. Exception reports, such as transactional errors, large movements in prices etc., are produced daily for review and management information is produced monthly. The firm has ensured that appropriately qualified people are employed to manage operational risk and to ensure that any exposure is kept to a minimum. In addition the firm has professional indemnity insurance in place.

Liquidity Risk

This is the risk that the firm may face when trying to liquidate assets at fair value should unexpected cash flows result in a liquidity problem. The firm is entirely equity funded. Regulatory capital ratios are monitored and maintained and cash flow analysis is conducted monthly to ensure that the firm is able to meet future demands. The firm does not trade on its own account and therefore there is no exposure to illiquid securities. Internal system enforced controls are in place to ensure receipt of funds prior to the passing of execution of trades.

Interest Rate Risk

This is the risk arising from the effect of interest rate changes. The firm has no exposure to interest rate risk as the clients are paid a rate that is linked to the Bank of England Base Rate and all interest rate fluctuations are born by the client. The firm may make a margin on the interest rate however it is minimal compared to other income streams. This policy is disclosed before starting a client relationship.

Securitisation Risk

The firm is not involved in the securitisation of assets. Should this situation change, Rexigon Securities will undertake a risk review and implement the appropriate policies and procedures.

Capital adequacy an ICAAP

The firm calculates its capital resources in accordance with the FCA rules and guidelines. An Internal Capital Adequacy Assessment Process (ICAAP) has been documented and lists all material risks together with the mitigations and controls in place to reduce their impact. The ICAAP document is reviewed once a year.

Capital resources

The regulatory capital resources of the firm, calculated in accordance with FCA regulation:

Common Equity Tier 1 Capital: £160,714

Surplus: £156,495

Total Capital Ratio: 171.43