Best execution 'biggest MiFID challenge'

Members of the Financial Services Discussion Club say making sure they meet the range of conditions of best execution is giving firms the biggest headache. MiFID – the Markets in Financial Instruments Directive – comes into effect in November, when it will replace the Investment Services Directive (ISD). It aims to set out some basic high-level provisions governing the organisational and business conduct requirements that should apply to firms. Best execution sits under article 21 of the directive. It states financial services firms carrying out transactions on their clients' behalf: ‘mu...