Greater transparency has been at the top of nearly every regulator’s wish list for a long time. And the great hope with MiFID II is that it will be the industry’s next major leap forward in achieving best execution both more transparently and more consistently. With even greater ownership of best execution post MiFID II, the buy side will need to understand all aspects of their order flow to demonstrate that they are making the most appropriate trading decisions given the liquidity that’s available. Under MiFID II, best execution won’t be just about price; it will be the policy and process that is most important. This will require firms to collect and assess more data to evaluate performance, create new systems and controls to monitor processes, as well as publish a clear and detailed Best Execution Policy.
Making MiFID II Work is our comprehensive content, learning, and resource programme. We'll be publishing content on a regular basis throughout the year, designed specifically for the buy side. For more on Making MiFID II Work visit: Liquidnet.com/mifid2.