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ARTICLE · 09 AUGUST 2024

ESMA Consults On Firms' Order Execution Policies Under MiFID II

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On 16 July 2024, the European Securities and Markets Authority (ESMA) published a consultation paper (CP) and draft regulatory technical standards (RTS) specifying the criteria for establishing...

GermanyFinance and Banking
Michael Huertas
Michael Huertas
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RegCORE – Client Alert | Capital Markets Union

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On 16 July 2024, the European Securities and Markets Authority (ESMA) published a consultation paper (CP) and draft regulatory technical standards (RTS) specifying the criteria for establishing and assessing the effectiveness of investment firms order execution policies (OEPs). Detailed rules on OEPs are set out in the EU's Markets in Financial Instruments Regulation (MiFIR) and the Markets in Financial Instruments Directive II (MiFID II) (as amended, including in the MiFIR/MiFID II Review), as supplemented by related rulemaking instruments.

The consultation runs until 16 October 2024 and seeks stakeholder input on all matters in the CP as well as specifically the questions summarised in Annex 1 to the CP. The CP focuses on the following themes:

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