TOP 5 EXECUTION VENUES REPORTING
Tradefora’s RTS28 solution helps automate the reporting process by generating all the required reporting tables across multiple categories, making it easy to navigate.
Directive 2014/65/EU in financial instruments (MiFID II) requires investment firms who execute client orders to summarise and make public on an annual basis, for each class of financial instruments the top five execution venues in terms of trading volumes where they executed client orders in the preceding year and information on the quality of execution obtained.
In order to produce this report, investment firms (incl. asset managers, broker-dealers, hedge funds and banks) must constantly monitor and record their order flow routing for both retail and professional clients across 13 distinct product types and 22 asset classes both exchange-traded and OTC.
RTS28 report must be generated in a standardized format and published on publicly available resources.
Reporting
categories
1. Date range
2. Client type
3. Instrument category
4. Venue type
Reports are grouped by month and broken down by retail and professional orders with a subsequent breakdown by Directed and Non-Directed orders.
Product Types
1Commodity derivatives
- Futures & Options
- Other commodity derivatives
2Contracts for difference (CFDs)
3Credit derivatives
- Futures & Options
- Other credit derivatives
4Currency derivatives
- Futures & Options
- Swaps, forwards & other currency derivatives
5Debt Instruments
- Bonds
- Money market instruments
6Emissions allowances
7Equities
- Tick size liquidity band 1 & 2
- Tick size liquidity band 3 & 4
- Tick size liquidity band 5 & 6
8Equity derivatives
- Futures & Options
- Swaps & other equity derivatives
9Exchange-traded products
10Interest rate derivatives
- Futures & Options
- Swaps, forwards & other interest rate derivatives
- Warrants & certificate derivatives
- Other securitized derivatives
13Other Instruments
