Q&A · ESMA

Best Execution

Answered

AI-generated Summary

RTS 28 reporting of orders executed on third-country venues covers all such venues, whether or not the Commission has found their market equivalent.

Details

Reference	ESMA_QA_1067
Issuer	ESMA
Published	29 May 2019
Answered	29 May 2019
Submitted	29 May 2019
ESMA topics	Best Execution
Earlier Q&A document	ESMA35-43-349 Investor protection Best execution Q&A 24

Article 27 MiFID II · Obligation to execute orders on terms most favourable to the client
MiFID II
Inferred · 80%
MiFID II (whole act)
Explicit reference

RTSEnds 11 Aug 2028Explicit reference · 90%
Commission Delegated Regulation (EU) 2017/576 of 8 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the annual publication by investment firms of information on the identity of execution venues and on the quality of execution
European Commission · 31 Mar 2017 · EUR-Lex
AI summaryRTS 28 requiring investment firms to publish annually, for each class of financial instruments, their top five execution venues by trading volume for client orders, with a summary of the execution quality obtained. Repealed by Delegated Regulation 2026/825; valid until 11 August 2028.