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All execution venues, i.e. Systematic Internalisers (SI), Market Makers and Liquidity Providers, in addition to trading venues have to provide Quality of Execution reports according to RTS 27 MiFID II. The report consists of nine tables, which contain information about the execution venue itself and about the instruments traded on the venue as well as data on prices and volumes. Besides, the report includes data on costs, rebates and the likelihood of execution. Additional information refers to e.g. the number of requests for quotes or the average spreads of prices.
The Quality of Execution report has to made available free of charge on the firm’s website. The data is updated quarterly.
The Regulatory Reporting Hub will offer daily, monthly and quarterly Quality of Execution reports in XML format. Data is compiled from the data market participants have submitted to Deutsche Börse’s OTC pre and post trade reporting service. Furthermore, clients can identify themselves as a Liquidity Provider or Market Maker and thereby comply with regulatory reporting obligations.
Christian Müller from the Product Development-Team of Regulatory Services explains in the video Quality of Execution Reporting the main requirements which execution venues have to meet as part of the MiFID II Best Execution Reporting.
For further information go to Best Execution Reporting Services on our website.