ESMA · ESMA_QA_1067 Answer Published
Best Execution
- Regulation
- Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
- Topic
- Best Execution
- Submitted
- 2019-05-29
- Answered
- 2019-05-29
Question
Do the RTS 28 reporting requirements of investment firms related to the execution of client orders through third-country execution venues only apply to third-country venues qualified as equivalent by the European Commission?
Answer
[ESMA35-43-349 Investor protection Best execution Q&A 24] The wording in Recital 2 of RTS 28 on “any entity that performs a similar function in a third country” refers to execution venues located in third countries, irrespective whether or not the European Commission has made an equivalence decision on the third-country market.
This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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