Top 5 venue reporting regarding MIFID II;retail clients;financial year 2019;M.M.Warburg & CO (AG & Co.) KgaA;
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 
Morgan Stanley Co Int Ldn (4PQUHN3JPFGFNF3BB653);89,79%;1,86%;100,00%;0,00%;100,00% 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);10,21%;98,14%;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 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);75,31%;84,86%;100,00%;0,00%;100,00% 
Morgan Stanley Co Int Ldn (4PQUHN3JPFGFNF3BB653);24,52%;15,00%;100,00%;0,00%;100,00% 
UBS Ltd Ldn (5299007QVIQ7IO64NX37);0,12%;0,06%;100,00%;0,00%;100,00% 
J P Morgan SE FFM (549300ZK53CNGEEI6A29);0,05%;0,08%;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 
Morgan Stanley Co Int Ldn (4PQUHN3JPFGFNF3BB653);51,12%;35,12%;100,00%;0,00%;100,00% 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);48,41%;64,49%;100,00%;0,00%;100,00% 
UBS Ltd Ldn (5299007QVIQ7IO64NX37);0,46%;0,39%;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 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);76,83%;79,27%;100,00%;0,00%;100,00% 
Morgan Stanley Co Int Ldn (4PQUHN3JPFGFNF3BB653);23,08%;20,57%;100,00%;0,00%;100,00% 
UBS Ltd Ldn (5299007QVIQ7IO64NX37);0,07%;0,13%;100,00%;0,00%;100,00% 
Cantor Fitzgerald Euro Ldn (549300KM6VUHPKQLQX53);0,02%;0,03%;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 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);87,47%;68,84%;100,00%;0,00%;100,00% 
Morgan Stanley Co Int Ldn (4PQUHN3JPFGFNF3BB653);12,53%;31,16%;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 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);90,99%;77,53%;100,00%;0,00%;100,00% 
Morgan Stanley Co Int Ldn (4PQUHN3JPFGFNF3BB653);9,01%;22,47%;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;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 
Donner & Reuschel AG (23ZYQ4KSBEDVYML8NC86);33,11%;42,58%;100,00%;0,00%;100,00% 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);24,12%;41,31%;100,00%;0,00%;100,00% 
Jane Street Financial Ltd. (549300ZHEHX8M31RP142);14,96%;1,50%;100,00%;0,00%;100,00% 
Flow Traders B V (549300CLJI9XDH12XV51);12,99%;4,15%;100,00%;0,00%;100,00% 
Optiver V.O.F. (7245009KRYSAYB2QCC29);11,33%;6,03%;100,00%;0,00%;100,00% 
Class of Instrument; ;AD99 (other instruments);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 
Morgan Stanley Co Int Ldn (4PQUHN3JPFGFNF3BB653);73,96%;74,72%;100,00%;0,00%;100,00% 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);25,96%;25,20%;100,00%;0,00%;100,00% 
J P Morgan Securities plc (K6Q0W1PS1L1O4IQL9C32);0,08%;0,08%;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 
Goldman Sachs Int Ldn (W22LROWP2IHZNBB6K528);99,69%;73,13%;100,00%;0,00%;100,00% 
Morgan Stanley Co Int Ldn (4PQUHN3JPFGFNF3BB653);0,21%;14,80%;100,00%;0,00%;100,00% 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);0,10%;12,07%;100,00%;0,00%;100,00% 
Class of Instrument; ;AE99 (other instruments);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 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);95,01%;64,91%;100,00%;0,00%;100,00% 
Morgan Stanley Co Int Ldn (4PQUHN3JPFGFNF3BB653);4,99%;35,09%;100,00%;0,00%;100,00% 
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 
Citigroup Glob Mark Ltd Ldn (XKZZ2JZF41MRHTR1V493);13,61%;13,01%;100,00%;0,00%;100,00% 
Nomura Bk Int Ldn (WGII3666BEDR02O24131);12,45%;12,13%;100,00%;0,00%;100,00% 
NatWest Markets N.V. (X3CZP3CK64YBHON1LE12);10,68%;9,31%;100,00%;0,00%;100,00% 
Deutsche Bk Ffm (7LTWFZYICNSX8D621K86);9,55%;9,29%;100,00%;0,00%;100,00% 
Barclays Bk PLC Ldn (G5GSEF7VJP5I7OUK5573);8,46%;8,26%;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 
J P Morgan SE FFM (549300ZK53CNGEEI6A29);19,34%;18,62%;100,00%;0,00%;100,00% 
DEKABK DGZ Ffm (0W2PZJM8XOY22M4GG883);12,40%;11,77%;100,00%;0,00%;100,00% 
Commerzbank AG Ffm (851WYGNLUQLFZBSYGB56);9,07%;8,75%;100,00%;0,00%;100,00% 
BNP Paribas Paris (R0MUWSFPU8MPRO8K5P83);8,70%;11,67%;100,00%;0,00%;100,00% 
Barclays Bank PLC Ireland (2G5BKIC2CB69PRJH1W31);7,92%;7,55%;100,00%;0,00%;100,00% 
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 
Stifel Nicolas Europe Ltd (213800BVEFNZ8UYPKL03);99,40%;99,83%;100,00%;0,00%;100,00% 
UniCredit Bank AG Mün (2ZCNRR8UK83OBTEK2170);0,60%;0,17%;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 
NORD LB Hann (DSNHHQ2B9X5N6OUJ1236);20,91%;26,52%;100,00%;0,00%;100,00% 
J P Morgan Securities plc (K6Q0W1PS1L1O4IQL9C32);16,03%;12,20%;100,00%;0,00%;100,00% 
DZ Bank AG (529900HNOAA1KXQJUQ27);10,36%;6,31%;100,00%;0,00%;100,00% 
J P Morgan SE FFM (549300ZK53CNGEEI6A29);8,00%;5,57%;100,00%;0,00%;100,00% 
Banco Santander S A (5493006QMFDDMYWIAM13);6,81%;5,04%;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 
BofA Securities Europe SA (549300FH0WJAPEHTIQ77);6,54%;6,53%;100,00%;0,00%;100,00% 
DZ Bank AG (529900HNOAA1KXQJUQ27);6,42%;6,42%;100,00%;0,00%;100,00% 
Jane Street Financial Ltd. (549300ZHEHX8M31RP142);6,10%;5,90%;100,00%;0,00%;100,00% 
J P Morgan SE FFM (549300ZK53CNGEEI6A29);5,34%;5,45%;100,00%;0,00%;100,00% 
HSBC Trinkaus Dssd (JUNT405OW8OY5GN4DX16);4,78%;4,83%;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;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 
BayernLB Mue (VDYMYTQGZZ6DU0912C88);18,30%;16,76%;100,00%;0,00%;100,00% 
DZ Bank AG (529900HNOAA1KXQJUQ27);12,92%;11,67%;100,00%;0,00%;100,00% 
NORD LB Hann (DSNHHQ2B9X5N6OUJ1236);5,81%;5,32%;100,00%;0,00%;100,00% 
Jane Street Financial Ltd. (549300ZHEHX8M31RP142);5,50%;4,92%;100,00%;0,00%;100,00% 
Royal Bk of Can Europe Ldn (TXDSU46SXBWIGJ8G8E98);5,32%;4,65%;100,00%;0,00%;100,00% 
Class of Instrument; ;BD21 (Equity 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 
J P Morgan SE FFM (549300ZK53CNGEEI6A29);85,71%;85,92%;100,00%;0,00%;100,00% 
J P Morgan Securities plc (K6Q0W1PS1L1O4IQL9C32);14,29%;14,08%;100,00%;0,00%;100,00% 
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 
UniCredit Bank AG Mün (2ZCNRR8UK83OBTEK2170);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 
Morgan Stanley Europe SE (54930056FHWP7GIWYY08);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 
Deutsche Bk Ffm (7LTWFZYICNSX8D621K86);100,00%;100,00%;100,00%;0,00%;100,00%