BinckBank has taken note of the reports of Degiro on TOM. In a "confidential" document compiled by Degiro which it has placed on its website is stated that BinckBank clients would not get the best price for the execution of their stock orders.
The conclusion of Degiro, competitor of BinckBank, that BinckBank clients would not get the best price for their stock orders is not supported by the facts and is therefore incorrect. The orders mentioned by Degiro are fictitious and not representative of the orders of the Retail clients of BinckBank. It concerns transactions in less liquid stocks with an order size 30 to 50 times the average order size of the Retail customers of BinckBank.
Degiro therefor misleads the private investor and also wrongly questions the integrity of the Dutch financial markets on the basis of the presented information. BinckBank will inform the regulators and is considering legal action against Degiro.
BinckBank uses the TOM Smart Order Router for the "best execution" of its order execution for equities and options. This system compares the pricing in various markets to aim for the best price available.
BinckBank is a minority shareholder and customer of TOM. TOM is transparent about its execution and publishes monthly statistics, which is made clear what the benefit is for the customers of BinckBank for both orders in shares and options.