Q&A · ESMA
Best Execution
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
An investment firm or market operator operating an OTF must cover best execution both at firm level (which venues, including its own OTF, it uses) and at OTF level (how the best result is achieved within the OTF), setting out where and how it exercises discretion.
Details
| Reference | ESMA_QA_1053 |
|---|---|
| Issuer | ESMA |
| Published | 4 Apr 2017 |
| Answered | 4 Apr 2017 |
| Submitted | 4 Apr 2017 |
| ESMA topics | Best Execution |
| Earlier Q&A document | ESMA35-43-349 MiFID II Investor Protection Best execution Q&A13 |
Provisions it relates to
- Article 20 MiFID II · Specific requirements for OTFsInferred · 80%
- Article 27 MiFID II · Obligation to execute orders on terms most favourable to the clientInferred · 85%
- MiFID II (whole act)Explicit reference