Opening Pandora's Box: Exploring MiFID II's Equities RTS 28 Reports
Which brokers are most popular among European buy-side traders? What proportion of buyside firms’ total equity order flow is handled by their top five brokers? To what extent are brokers using exchanges versus alternative venues? Which brokers are the biggest internalisers of order flow and how has that changed in the first year of MiFID II? These questions and many more can be answered from new ‘best execution’ disclosures under MiFID II. Such information on order routing was previously highly confidential but European regulators believe there is value in ‘lifting the lid’ on the execution process to help better inform end investors.
This TABB Group report, Opening Pandora’s Box: Exploring MiFID II’s Equities RTS 28 Reports, analyses the second set of annual ‘RTS 28’ best execution reports, published in April 2019. These refer to trades executed throughout 2018 - the first year that MiFID II was in force – and have been hotly-anticipated by Europe’s trading community.
- European Equities