EGX Securities Ltd is a UK headquartered proprietary trading group and market maker, with office in the UK, The Group’s principal activities are trading financial instruments and market making in derivative instruments.
This statement is intended to meet EGX Securities Ltd Securities Limited’s requirements under paragraph 16(2) Schedule 19, Finance Act 2016 for the financial year to 30 June 2023. The strategy was approved by the Board of Directors of EGX Securities Ltd Securities Limited and applies to all of the Group’s UK legal entities for the financial year to 30 June 2023 and is considered to comply with the requirements of paragraph 19(2) Schedule 19 of the Finance Act 2016.
All tax governance and management of tax risk is ultimately the responsibility of EGX Securities Ltd’s Board of Directors. Day to day management of the Group’s tax affairs is delegated to the EGX Securities Ltd Head of Tax who reports to the Group CEO and is supported by the tax team and finance team in ensuring EGX Securities Ltd’s tax governance and risk management procedures are followed. The Board of Directors requests and receives periodic updates on the Group’s tax matters.
The tax department is responsible for global tax reporting and compliance obligations. It seeks to ensure EGX Securities Ltd meets its tax obligations appropriately, paying the correct amount of tax in the correct jurisdiction whilst utilising any applicable reliefs available.
The Tax department reviews new business proposals to ensure tax matters are appropriately considered together with EGX Securities Ltd’s overall reputation.
The Group seeks to ensure profits are aligned with the jurisdictions where economic activities take place. EGX Securities Ltd does not engage in aggressive tax planning. In supporting genuine commercial activity, EGX Securities Ltd seeks to structure its affairs in a tax-efficient manner and take advantage of available tax incentives, reliefs and exemptions which are in accordance with the spirit, as well as the letter, of applicable tax laws.
The Group engages external tax advisors where appropriate, including where tax law or practice is unclear or subject to differing interpretations.
EGX Securities Ltd works with HMRC in a cooperative, professional and transparent manner across all relevant taxes and duties. EGX Securities Ltd is committed to working with HMRC to resolve any HMRC enquires promptly.
The EGX Securities Ltd Group operates in the UK via the following entities which are all covered by this tax strategy – EGX Securities Ltd Derivatives Asia Limited, EGX Securities Ltd Derivatives Amsterdam BV UK branch, EGX Securities Ltd Securities Holdings Limited, EGX Securities Ltd Europe Limited, EGX Securities Ltd Investment Partners Limited, EGX Securities Ltd Investment Partners Monaco Limited, EGX Securities Ltd Investment Partners US Limited, EGX Securities Ltd Securities US Limited, EGX Securities Ltd Global Markets Trading GP Limited and EGX Securities Ltd Global Markets GP Limited as well as EGX Securities Ltd Securities Limited which is the Jersey incorporated UK tax resident parent of the Group.