BestExHub Subscriber Documentation

BestExHub RTS 27 Example Schema [Link]

Example schema for publishing RTS 27 reports.

Contact us to use an editable version.

BestExHub RTS 28 and DA 65 Standard Schema [Link]

Schema for publishing RTS 28 and DA 65 reports using BestExHub Standards.

BestExHub API BETA Primer (NEW) [Link]

This deck provides a primer to help navigate the BestExHub API to access and download RTS 27, RTS 28 and DA65 data - one interace - one standard format.
Contact us for your BestExHub API key to start downloading data for FREE.

BestExHub Master Agreement [Link]

BestExHub Master Agreement covering all BestExHub services.

Contact us for password to download and view.

BestExHub Services

BestExHub PUBLICATION service [Link]

Complying with the RTS 27, RTS 28 and DA 65 best execution publication requirements.

BestExHub DATA service [Link]

Bringing transparency to RTS 27, RTS 28 and DA 65 best execution quality data - ONE format - ONE interface.

BestExHub ANALYSIS service [Link]

Making sense of RTS 28 / DA 65 best execution quality data

EU Texts

MiFID II (Level 1 text) [Link]

Directive 2014/65/EU of the European parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast).

Reference Recital 97, Art. 27(3), (6) and (7)

RTS 27 [Link]

Commission Delegated Regulation (EU) 2017/575 of 8 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards concerning the data to be published by execution venues on the quality of execution of transactions.

RTS 28 [Link]

Commission Delegated Regulation (EU) 2017/576 of 8 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the annual publication by investment firms of information on the identity of execution venues and on the quality of execution.

Delegated Acts (Art 65(6)) [Link]

Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.

Reference Art. 65 (6)

ESMA Q & A [Link]

ESMA Q & A On MiFID II and MiFIR investor protection and intermediaries topics.

Reference Best Execution topics.

UK FCA

COBS Handbook (Best Execution - AIFMS & CIS) [Link]

Best execution for AIFMs and residual CIS operators.

Reference 11.2.-4 G

COBS Handbook (Best Execution - MiFID) [Link]

Best execution – MiFID provisions

Reference 11.2A.29, 11.2A.31 R(1), 11.2A.33 G, 11.2A.34, 11.2A.36 G, 11.2A.38 G, 11.2A.38(4) R

COBS Handbook (Best Execution - UCITS) [Link]

Best execution for UCITS management companies.

Reference 11.2B.22 G, 11.2B.27 R, 11.2B.30 and 11.2B.36 R

COBS Handbook (Execution Quality - Market Marker & Liquidity Providers) [Link]

Quality of execution (Market Maker and other Liquidity providers).

Reference Section 11.2.C.1 and 11.2.C.2

MAR Handbook (MTF) [Link]

Functioning of an MTF

Reference MAR 5.3.1A R(5)

MAR Handbook (OTF) [Link]

Functioning of an OTF

Reference MAR 5A.4.2A R(3)

MAR Handbook (Systematic Internaliser) [Link]

Systematic Internalisers: Quality of Execution

Reference MAR 6.3A.1R

UK Statutory Instruments

Financial Services and Markets Act 2000 [Link]

Regulated Markets: Quality of Execution. SI 2017 No. 701: Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001 (SI 2001/995).

Reference paragraph 4C of the Schedule to the Recognition Requirements Regulations (Schedule 3)

Industry Papers

FIX Trading Community guidelines [Link]

Recommended Practices for Best Execution Reporting as required by MiFID II RTS 27 & 28 with reference to Delegated Act 2398 Article 65.6