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Information for investors

MIFID II Directive

The initial Directive of the European Parliament and of the Council on markets in financial instruments (hereinafter MiFID) came into force in 2007. This directive is binding for all the European Union member states and its aim is to make financial markets more efficient, resilient and transparent, and to ensure the highest level of investor protection.

On 3 January 2018, the MiFID II Directive came into force with additional requirements aimed at improving the efficiency of the financial markets, transparency and strengthening the protection of investors.

The Law on Financial markets of the Republic of Latvia ensures MiFID II compliance in Latvia.

MiFIR Regulation

Regulation of the European Parliament and of the Council on markets in financial instruments (hereinafter MiFIR) is binding for all the European Union member states. MiFIR contains rules and guidelines for transaction execution and financial instrument trade transparency.

If you use, have used or plan to use any of the investment services offered by the bank, MiFID II, MiFIR and the national legislation influences your cooperation with our bank as well. In order to ensure as transparent and effective cooperation related to financial instruments as possible, Luminor invites you to familiarize yourself with the information provided herein.

Important documents

 Client Classification Rules, valid from February 7, 2025
 Policy for execution of orders in financial instruments
 Summary of policy for execution of orders in financial instruments
 Summary of Conflict of Interest Management Policy
 Description of financial instruments and related risks valid from May 1, 2024
 Information on the investment service provider and services provided
 Inducement Policy for the Provision of Investment and Ancillary Services
 Order execution venues
 Ex-ante Costs & Charges disclosure
 Summary of Policy for Securities Allocation in the Primary Market valid from March 15, 2024
The statement on principle adverse sustainability impacts and indicators of Luminor

Key Information Documents

  3M 6M 12M
FX Forward EURGBP Buy
Sell
Buy
​Sell
Buy
​Sell
FX Forward EURPLN Buy
​Sell
Buy
​Sell
Buy
​Sell
FX Forward EURSEK Buy
​Sell
Buy
​Sell
Buy
​Sell
FX Forward EURUSD Buy
​Sell
Buy
​Sell
Buy
​Sell
FX Swap EURGBP Buy
​Sell
Buy
​Sell
Buy
​Sell
FX Swap EURPLN Buy
​Sell
Buy
​Sell
Buy
​Sell
FX Swap EURSEK Buy
​Sell
Buy
​Sell
Buy
​Sell
FX Swap EURUSD Buy
​Sell
Buy
​Sell
Buy
​Sell

Interest Rate Swap - EURIBOR3M 5Y
Interest Rate Cap - EURIBOR3M 5Y
Interest Rate Collar - EURIBOR3M 5Y
Commodity Swap - Natural Gas

FAQ

What is Client Classification Policy? 

In line with MIFiD requirements, the Client Classification Policy stipulates that a status of a Retail customer, a Professional customer or an Eligible counterparty should be assigned to each client. The aim of the Client Classification Policy is to define the criteria of clients’ classification, the order of changing the status, as well as the level of protection corresponding to each client’s status. Clients which are classified as Retail customers are provided with the highest level of investors’ protection.

What is Order Execution Policy?

The Order Execution Policy defines the guidelines for order execution, so that clients’ orders are executed on the most favourable conditions for the client. The policy also describes the order execution procedure of the bank. The client must give his consent to the bank’s Order Execution Policy to trade financial instruments.

What is Conflicts of Interest Policy?

The Conflicts of Interest Policy stipulates all necessary and possible actions to identify and mitigate possible conflicts of interest, which could be harmful to clients’ interests in transactions related to investment services and/or ancillary investment services.

Payments from third parties

Luminor informs you that it receives payments from third parties (inducements) for clients’ investments in specific investment products. Bank emphasizes that the aim of these payments is to increase the value of service provided to clients and they do not influence the bank’s obligation to achieve the best possible results for clients when providing investment services to them. The list of investment funds and the amount of inducements that Luminor receives for the distribution of investment fund shares can be found in Inducement Policy for the Provision of Investment and Ancillary Services.

 

Top 5 Execution Venues and Entities

2023

Top 5 Execution Venues

Retail Clients  PDF  Excel
Professional Clients  PDF  Excel

Top 5 Execution Entities

Retail Clients  PDF  Excel 
Professional Clients    PDF  Excel

2022

Top 5 Execution Venues

Retail Clients  PDF  Excel
Professional Clients  PDF  Excel

Top 5 Execution Entities

Retail Clients  PDF  Excel 
Professional Clients    PDF  Excel

2021

Top 5 Execution Venues

Retail Clients  PDF  Excel
Professional Clients  PDF  Excel

Top 5 Execution Entities

Retail Clients  PDF  Excel 
Professional Clients    PDF  Excel

2020

Top 5 Execution Venues

Retail Clients  PDF  Excel
Professional Clients  PDF  Excel

Top 5 Execution Entities

Retail Clients  PDF  Excel 
Professional Clients    PDF  Excel

2019

Top 5 Execution Venues

Retail Clients  PDF  Excel
Professional Clients  PDF  Excel

Top 5 Execution Entities

Retail Clients  PDF  Excel 
Professional Clients    PDF  Excel

2018

Top 5 Execution Venues

Retail Clients  PDF  Excel
Professional Clients  PDF  Excel

Top 5 Execution Entities

Retail Clients  PDF  Excel 
Professional Clients    PDF  Excel

2017

Top 5 Execution Venues

Retail Clients  PDF  Excel
Professional Clients  PDF  Excel

Top 5 Execution Entities

Retail Clients  PDF  Excel 
Professional Clients    PDF  Excel

Luminor Investor platform terms

 General business terms for Investment Services Rendered via Luminor Trading Platform

Portfolio management service documents

Statement on integration of sustainability risks into investment process regarding Luminor Bank AS’s discretionary portfolio management service

 General business terms for Investment Services Rendered via Luminor Trading Platform
 General terms for the Discretionary Portfolio Management Service Agreement valid since 01.03.2021.

Regarding implementation of the Law on Markets in Financial Instruments

Sustainability-related disclosures

 The statement on principal adverse sustainability impacts and indicators of Luminor

Statement on integration of sustainability risks into investment process regarding discretionary portfolio management service

Markets products documents

 General terms and conditions on Derivative and Foreign Exchange Transactions, 04.05.2020

Previous versions of the documents

 The statement on principal adverse sustainability impacts and indicators of Luminor, valid from 04.2023 to 06.2023
 General terms for the Discretionary Portfolio Management Service Agreement valid till 01.03.2021.

Key Information Documents:
 Commodity Swap – Diesel 10ppm CIF NWE, 2019 02 21
 Commodity Swap – Fuel Oil 3.5% FOB Barges ARA, 2019 02 21
 FX Forward - EURRUB 1Y, 2019 02 21
 FX Forward - EURUSD 1Y, 2019 02 21
 FX Swap - EURUSD 1Y, 2019 02 21
 Interest Rate Cap (bought) - 5Y 3M EURIBOR, 2019 02 21
 Interest Rate Swap - 5Y 3M EURIBOR, 2019 02 21;
 Interest Rate Swap - 5Y 6M EURIBOR, 2019 02 21

 Description of financial instruments and related risks, valid from 02.01.2019 till 29.04.2024 

Client Classification Policy:
 Effective till 06.02.2025
 Effective till 01.01.2019
 Effective till 31.01.2018
 Effective till 01.10.2017
 Effective till 18.03.2013
 Effective till 6.05.2014

Conflict of Interest Management Policy:
 Effective till 14.05.2024
 Effective till 10.01.2024

Conflicts of Interest Policy:
 Effective till 02.07.2020
 Effective till 27.05.2019
 Effective till 01.01.2019
 Effective till 14.02.2018
 Effective till 01.10.2017
 Effective till 6.05.2013
 Effective till 18.03.2013

Policy for execution of orders in financial instruments:
 Effective till 01.10.2023
 Effective till 19.06.2021
 Effective till 01.01.2019
 Effective till 31.01.2018
 Effective till 01.10.2017
 Effective till 03.08.2016
 Effective till 16.06.2015
 Effective till 06.05.2013
 Effective till 18.03.2013

Summary of policy for execution of orders in financial instruments:
 Effective till 19.06.2021

Order Execution Venues:
 Effective till 01.01.2019
 Effective till 31.01.2018
 Effective till 01.10.2017
 Effective till 03.08.2016
 Effective till 04.06.2014

Luminor Investor platform terms:
 Business Terms for Securities Trading effective until 20.04.2023.
 General Business Terms for Investment Services effective until 20.04.2023. 
 General Provisions for the Agreement on Administration of Financial Instruments effective until 20.04.2023.

Inducement Policy for the Provision of Investment and Ancillary Services:
 Effective till 14.12.2023
 Effective till 20.12.2021
 Effective till 01.01.2019

Information on the investment service provider and services provided:
 Effective till 30.09.2021
 Effective till 01.01.2019

 Application For Non-independent Investment Advice, valid from 01.11.2019 to 30.07.2020

Ex-ante Costs & Charges disclosure:
 Effective till 02.11.2021

The statement on principle adverse sustainability impacts of Luminor
The statement on principle adverse sustainability impacts and indicators of Luminor valid from 07.2022 to 04.2023
The statement on principle adverse sustainability impacts of Luminor valid from 03.2022 to 07.2022

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