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Best Execution Monitoring

Best Execution Monitoring service helps investment firms achieve extensive control and transparency over their order execution practices.

Relevant Regulation: Directive 2014/65/EU (MiFID II) 

Start date: 3 January 2018 

Regulatory Type: Best Execution monitoring 

Types of firms affected: Firms executing client orders such as banks, investment firms, broker- dealers and others 

Supervisory authority: NCAs, ESMA 

Frequency of reporting: Daily 

Best Execution Monitoring

Our Best Execution Monitoring Service helps investment firms achieve extensive control and transparency over their order execution practices. As per Article 27 of MiFID II, investment firms should take “all sufficient steps to obtain, when executing an order, the best possible result for their clients taking into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order.”

To achieve this, investment firms, among others, should arrange for the setup of a thorough monitoring system for the continuous evaluation of the actual execution quality delivered to clients. Our Best Execution Monitoring Service helps investment firms perform this onerous task in an automated, unique and efficient way. 

Key Features

  • Fully automated service
  • Meeting regulatory requirements, including reporting
  • Retrieve information from any system and/or database
  • Effective monitoring capabilities to ensure Best Execution:
  • Includes all the relevant quantitative and qualitative metrics (price, cost, speed, likelihood of execution, settlement, size, and nature of the trade)
  • Based on adequate sample sizes
  • Covers all relevant asset classes
  • Flexibility to adapt efficiently to your specific needs i.e. set up specific checks consistent with your Best Execution policy and practices
  • On-going and regular monitoring for Best Execution (on-demand checks are also available)
  • Ad-hoc investigations for Best Execution of specific orders and/or transactions
  • Flagging Best Execution failures, including automatic notification alerts
  • Recording and logging capabilities of all monitoring checks for future examination
  • On-going updates and/or changes to adopt regulatory changes and new practices and/or checks followed by regulators

Benefits

  • Technology optimization
  • Web-based integrated dashboard provides a holistic view of Best Execution analysis
  • Comprehensive regulatory monitoring and reporting IT infrastructure resulting in long-term cost efficiencies
  • Cost-efficient integrated monitoring and reporting solutions provided under a single platform

Solution Includes

  • A team of specialists will set up the service and provide guidance on extracting relevant data as needed
  • Access to our Polaris Portal dashboard
  • Systematic Best Execution Monitoring
  • Best Execution Monitoring training throughout the implementation process to ensure that key personnel understand the regulation and process
  • Support and availability to answer any queries regarding the system or any regulatory updates

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