Q&A · ESMA
Best Execution
Answered
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An 'other liquidity provider' under RTS 27 is a firm that regularly and consistently provides liquidity in an instrument as part of its business, on or off venue, without needing formal agreements or a continuous quoting commitment; a CFD provider quoting two-way prices on own account would qualify, and the classification is made across all of a firm's trades.
Details
| Reference | ESMA_QA_1058 |
|---|---|
| Issuer | ESMA |
| Published | 25 May 2018 |
| Answered | 25 May 2018 |
| Submitted | 25 May 2018 |
| ESMA topics | Best Execution |
| Earlier Q&A document | ESMA35-43-439 MiFID II Investor protection best execution Q&A 18 |
Provisions it relates to
- Article 27 MiFID II · Obligation to execute orders on terms most favourable to the clientInferred · 80%
- MiFID II (whole act)Explicit reference