Q&A · ESMA
Best Execution
Answered
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
MiFID II's 'all sufficient steps' best-execution standard sets a higher bar than MiFID I's 'all reasonable steps': firms must ensure their execution arrangements achieve the intended outcomes on an ongoing basis, monitoring execution quality and their policies before and after the event and escalating findings, though not every individual order must get the best result.
Details
| Reference | ESMA_QA_1016 |
|---|---|
| Issuer | ESMA |
| Published | 10 Oct 2016 |
| Answered | 10 Oct 2016 |
| Submitted | 10 Oct 2016 |
| ESMA topics | Best Execution |
| Earlier Q&A document | ESMA35-43-349 MiFID Investor Protection Q&A 1 |
Provisions it relates to
- Article 27 MiFID II · Obligation to execute orders on terms most favourable to the clientInferred · 95%
- MiFID II (whole act)Explicit reference