Best Execution

Helping you prove the case

Best execution was introduced to the EU investment landscape in the original MiFID legislation that came into effect in 2007. MiFID II, and accompanying regulation, improves on the original intent and sets out certain Regulatory Technical Standards (RTS) that provide additional levels of protection for investors.

MiFID II sets out a number of factors that Intermediaries must consider in order to achieve best execution on behalf of their clients. These factors include,

  • Price
  • Cost
  • Speed
  • Ability to execute
  • Settlement size

RTS 27 and RTS 28 set out the technical details of the data to be published by Venues and Investment Firms in relation to the quality of execution of transactions. Investment Firms will need to adapt their reporting processes to enable them to record this data and demonstrate that best execution has been achieved. To fulfil this requirement they will be seeking third parties that have a broad supply of quality market data, in a variety of asset classes and different liquidity types. Read our Best Execution paper for more information.

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