Stats › Intraday et microstructure de marché › K-factor table
Europe charges an investment firm half a per cent of the client money it does not segregate and four hundredths of a per cent of the assets it safeguards
| K-factor | What it measures | Coefficient |
|---|---|---|
| K-AUM | assets under management | 0,02% |
| K-CMH, non segregated | client money held in accounts that are not segregated | 0,5% |
| K-CMH, segregated | client money held in segregated accounts | 0,4% |
| K-ASA | assets safeguarded and administered | 0,04% |
| K-COH, cash trades | client orders handled, cash | 0,1% |
| K-COH, derivatives | client orders handled, derivatives | 0,01% |
| K-DTF, cash trades | daily trading flow, cash | 0,1% |
| K-DTF, derivatives | daily trading flow, derivatives | 0,01% |
Regulation (EU) 2019/2033, Article 15(2), Table 1, read twice independently in the consolidated text of 9 January 2024 and in the original Official Journal text, identical on both readings. The table has eight rows and no more.
The coefficient table has eight rows and no more. Holding client money unsegregated costs 0.5 per cent against 0.4 segregated, and handling derivative orders costs one tenth of what handling cash orders costs, on measures the regulation never reconciles.
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