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US Buyside Prepares for MiFID II 

December 15, 2015

Markets Media

US investment firms are reviewing their best execution policies as a result of MiFID II, the new rules covering financial markets in Europe, despite not being directly overseen by a European regulator.

A survey by consultancy Tabb Group found that 26% of US buyside firms said MiFID II has triggered a review of their best execution policy. Globally,  81% of buyside firms are currently reviewing or have reviewed best execution policies in the past 12 months. In August this year Tabb Group conducted research with 81 global heads of trading, more than 70% of whom were institutional investors based across the globe, for a new report, “Best Execution: The New Partnership.”

Author Rebecca Healey wrote that under MiFID II investment firms are required to take all “sufficient steps” to achieve best execution. Asset managers will have to annually publish their top five execution venues in terms of trading volumes and the factors used to choose venues “in sufficient detail and in a way that can be easily understood by clients.” Read more

 
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