Systematic Internaliser
Systematic Internaliser
A Systematic Internaliser (SI) is an investment firm which, on an organised, frequent systematic and substantial basis deals on own account when executing client orders outside a regulated market, an MTF or an OTF without operating a multilateral system.
HSBC has opted to become a Systematic Internaliser for a wide range of instruments.
Click on the name of the HSBC entities below to discover where HSBC is now a Systematic Internaliser.
HSBC Bank plc.
Legal Entity | Asset Class | Sub Asset Class | Bond Type | Issuer | Product |
---|---|---|---|---|---|
HSBC Bank PLC | Shares | SI for all | |||
Depositary receipts | SI for all | ||||
ETFs (Exchange Traded Funds) | SI for all | ||||
Certificates | SI for all | ||||
Other Equity-like Instruments | SI for all | ||||
Structure Finance Products | SI for all | SI for all | |||
Securitised Derivatives | SI for all | ||||
Bonds (ex ETCs & ETNs) | Other Public Bond | SI for all | SI for all | ||
Other Bond | SI for all | SI for all | |||
Sovereign Bond | SI for all | SI for all | |||
Convertible Bond | SI for all | SI for all | |||
Covered Bond | SI for all | SI for all | |||
Corporate Bond | SI for all | SI for all | |||
Bonds (ETC and ETN bond types) | Exchange Traded Commodities | SI for all | |||
Exchange Traded Notes | SI for all | ||||
Commodity derivatives | Precious Metal commodity forwards | SI for all | |||
Precious Metal commodity Options | SI for all | ||||
Precious Metal commodity Swaps | SI for all | ||||
Base Metal commodity forwards | Not an SI | ||||
Base Metal commodity Options | Not an SI | ||||
Base Metal commodity Swaps | Not an SI | ||||
Energy commodity forwards | Not an SI | ||||
Energy commodity Options | Not an SI | ||||
Energy commodity Swaps | Not an SI | ||||
Credit Derivatives | CDS index options | SI for all | |||
Index credit default swap (CDS) | SI for all | ||||
Other credit derivatives | SI for all | ||||
Single name CDS options | SI for all | ||||
Single name credit default swap (CDS) | SI for all | ||||
Equity derivatives | Index Options | SI for all | |||
Index Forwards | SI for all | ||||
Stock Options | SI for all | ||||
Stock Forwards | SI for all | ||||
Stock Dividend Options | SI for all | ||||
Stock Dividend Forwards | SI for all | ||||
Dividend Index Options | SI for all | ||||
Dividend Index Forwards | SI for all | ||||
Volatility Index Options | SI for all | ||||
Volatility Index Forwards | SI for all | ||||
ETF Options | SI for all | ||||
ETF Forwards | SI for all | ||||
Swaps | SI for all | ||||
Portfolio Swaps | SI for all | ||||
Other Equity Derivatives | SI for all | ||||
Foreign exchange derivatives | Non Deliverable Forwards | SI for all | |||
Deliverable Forwards | SI for all | ||||
Non Deliverable FX Options | SI for all | ||||
Deliverable FX Options | SI for all | ||||
Non Deliverable FX Swaps | SI for all | ||||
Deliverable FX Swaps | SI for all | ||||
Other Foreign Exchange Derivatives | SI for all | ||||
Interest rate derivatives | IR FRAs | SI for all | |||
IR Options | SI for all | ||||
Other Interest Rate Derivatives | SI for all | ||||
Fixed-to-Fixed ‘multi currency swaps’ or ‘cross-currency swaps’ | SI for all | ||||
Float-to-Float multi-currency swaps or cross-currency swaps | SI for all | ||||
Fixed-to-Float ‘multi currency swaps’ or ‘cross-currency swaps’ | SI for all | ||||
Fixed-to-Fixed 'single currency swaps' | SI for all | ||||
Fixed-to-Float 'single currency swaps' | SI for all | ||||
Float-to-Float 'single currency swaps' | SI for all | ||||
Overnight Index Swap (OIS) 'single-currency swaps' | SI for all | ||||
Overnight Index Swap (OIS) 'multi-currency swaps' | SI for all | ||||
Inflation multi-currency swaps or cross-currency swaps | SI for all | ||||
Inflation single-currency swaps | SI for all | ||||
Swaptions | SI for all | ||||
Bonds Forwards | SI for all | ||||
Bond Options | SI for all | ||||
Forwards on Fixed-to-Float multi-currency swaps or cross-currency swaps | SI for all | ||||
Forwards on Float-to-Float multi-currency swaps or cross-currency swaps | SI for all | ||||
Forwards on Fixed-to-Fixed multi-currency swaps or cross-currency swaps | SI for all | ||||
Forwards on Overnight Index (OIS) multi-currency swaps or cross-currency swaps | SI for all | ||||
Forwards on Inflation multi-currency swaps or cross-currency swaps | SI for all | ||||
Forwards on Fixed-to-Float single-currency swaps | SI for all | ||||
Forwards on Float-to-Float single-currency swaps | SI for all | ||||
Forwards on Fixed-to-Fixed single-currency swaps | SI for all | ||||
Forwards on Overnight Index (OIS) single-currency swaps | SI for all | ||||
Forwards on Inflation single-currency swaps | SI for all |
HSBC France
Legal Entity | Asset Class | Sub Asset Class | Bond Type | Issuer | Product |
---|---|---|---|---|---|
HSBC France | Shares | SI for all | |||
Depositary receipts | SI for all | ||||
ETFs (Exchange Traded Funds) | SI for all | ||||
Certificates | SI for all | ||||
Other Equity-like Instruments | SI for all | ||||
Structured Finance Products | SI for all | SI for all | |||
Securitised Derivatives | SI for all | ||||
Bonds (ex ETCs & ETNs) | Other Public Bond | SI for all | SI for all | ||
Other Bond | SI for all | SI for all | |||
Sovereign Bond | SI for all | SI for all | |||
Convertible Bond | SI for all | SI for all | |||
Covered Bond | SI for all | SI for all | |||
Corporate Bond | SI for all | SI for all | |||
Bonds (ETC and ETN bond types) | Exchange Traded Notes | SI for all | |||
Credit Derivatives | |||||
Index credit default swap (CDS) | SI for all | ||||
Single name credit default swap (CDS) | SI for all | ||||
Equity derivatives | Index Options | SI for all | |||
Index Forwards | SI for all | ||||
Stock Options | SI for all | ||||
Stock Forwards | SI for all | ||||
Stock Dividend Options | SI for all | ||||
Stock Dividend Forwards | SI for all | ||||
Dividend Index Options | SI for all | ||||
Dividend Index Forwards | SI for all | ||||
Volatility Index Options | SI for all | ||||
Volatility Index Forwards | SI for all | ||||
Swaps | SI for all | ||||
Other Equity Derivatives | SI for all | ||||
Foreign exchange derivatives | Non Deliverable Forwards | SI for all | |||
Deliverable Forwards | SI for all | ||||
Non Deliverable FX Options | SI for all | ||||
Deliverable FX Options | SI for all | ||||
Non Deliverable FX Swaps | SI for all | ||||
Deliverable FX Swaps | SI for all | ||||
Other Foreign Exchange Derivatives | SI for all | ||||
Interest rate derivatives | IR FRAs | SI for all | |||
IR Options | SI for all | ||||
Other Interest Rate Derivatives | SI for all | ||||
Fixed-to-Fixed ‘multi currency swaps’ or ‘cross-currency swaps’ | SI for all | ||||
Float-to-Float multi-currency swaps or cross-currency swaps | SI for all | ||||
Fixed-to-Float ‘multi currency swaps’ or ‘cross-currency swaps’ | SI for all | ||||
Fixed-to-Fixed 'single currency swaps' | SI for all | ||||
Fixed-to-Float 'single currency swaps' | SI for all | ||||
Float-to-Float 'single currency swaps' | SI for all | ||||
Overnight Index Swap (OIS) 'single-currency swaps' | SI for all | ||||
Overnight Index Swap (OIS) 'multi-currency swaps' | SI for all | ||||
Inflation multi-currency swaps or cross-currency swaps | SI for all | ||||
Inflation single-currency swaps | SI for all | ||||
Swaptions | SI for all | ||||
Bond Forwards | SI for all | ||||
Bond Options | SI for all | ||||
Forwards on Fixed-to-Float multi-currency swaps or cross-currency swaps | SI for all | ||||
Forwards on Float-to-Float multi-currency swaps or cross-currency swaps | SI for all | ||||
Forwards on Fixed-to-Fixed multi-currency swaps or cross-currency swaps | SI for all | ||||
Forwards on Overnight Index (OIS) multi-currency swaps or cross-currency swaps | SI for all | ||||
Forwards on Inflation multi-currency swaps or cross-currency swaps | SI for all | ||||
Forwards on Fixed-to-Float single-currency swaps | SI for all | ||||
Forwards on Float-to-Float single-currency swaps | SI for all | ||||
Forwards on Fixed-to-Fixed single-currency swaps | SI for all | ||||
Forwards on Overnight Index (OIS) single-currency swaps | SI for all | ||||
Forwards on Inflation single-currency swaps | SI for all |
HSBC Trinkaus & Burkhardt AG
Legal Entity | Asset Class | Sub Asset Class | Bond Type | Issuer | Product |
---|---|---|---|---|---|
HSBC Trinkaus & Burkhardt AG | Securitised Derivatives | SI for all issued by HSBC Trinkaus & Burkhardt AG | |||
Bonds (ex ETCs & ETNs) | Other Public Bond | SI for all priced by HSBC Trinkaus & Burkhardt AG | |||
Covered Bond | SI for all priced by HSBC Trinkaus & Burkhardt AG | ||||
Foreign exchange derivatives | Non Deliverable Forwards | SI for all | |||
Deliverable Forwards | SI for all | ||||
Non Deliverable FX Options | SI for all | ||||
Deliverable FX Options | SI for all | ||||
Non Deliverable FX Swaps | SI for all | ||||
Deliverable FX Swaps | SI for all | ||||
Other Foreign Exchange Derivatives | SI for all |
Please see our SI Commercial Policies below:
- HSBC Cash Equity SI Commercial Policy
- HSBC Equity Derivatives SI Commercial Policy
- HSBC Fixed Income SI Commercial Policy
Last updated: 18 March 2020