MiFID II, which came into force in January 3rd 2018, revises the Markets in Financial Instruments Directive and associated Regulation. Its objectives contain the enhancement of investor protection and the improvement of financial markets transparency.
BME, as a leading European operator of financial markets and a provider of trading technologies, has always assimilated these objectives naturally within its key values. Therefore, BME has created this information section, divided into different categories, to help you understand the Group's securities market adaptations to MiFID II.
Should you have any question or wish to obtain further information, the BME team will be delighted to help you: email@example.com.
Regulatory technical standard 27 of MiFID II (RTS 27) defines the obligation of investment firms when executing orders on behalf of clients, to take all sufficient measures to obtain the best possible execution. Similarly, the execution venues are required to publish a "Best Execution Report" free of charge and in a machine-readable format.
This requirement will not be mandatory until the second quarter of 2018. However, in line with BME's principle of transparency, the Group began publishing monthly best execution reports in January 2017. It has also commissioned a specific report on the subject of best execution from an outside consultant.
In this section you can consult the corresponding monthly report and the “Report on the Best Execution of Spanish Listed Equities” of FinReg360.