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Under MiFID II RTS 28 MiFID-Investment firms have to report annually on the top five execution venues on which they execute client orders. The report has to be provided per class of financial instruments. It has to contain the venue’s market identifier code, the volume and number of executed order as well as the percentage of aggressive, passive and directed orders.
Three separate reports are required: for executed retail orders, for executed professional client orders and for executed securities finance transactions. Data has to be made available free of charge on the firm’s website. They contain yearly data and are updated once a year.
The Regulatory Reporting Hub will offer daily, monthly and annually Top 5 Execution Venue reports in XML format. Data is compiled from the data market participants have submitted to Deutsche Börse’s transaction reporting service.
Christian Müller from the Product Development-Team of Regulatory Services explains in the video Top 5 Execution Venue Reporting the main requirements MiFID-Investment firms have to meet as part of the MiFID II Best Execution Reporting.
For further information go to Best Execution Reporting Services on our website.