The European Securities and Markets Authority (ESMA) requires investment firms to publish annually, information on the identity of execution venues and the quality of execution obtained.

This reporting requirement falls under MiFID II (Markets in Financial Instruments Directive) which is a European Union law that aims to standardise regulation for investment services across all member states of the European Economic Area. Regulatory Technical Standards 28 (“RTS 28”) outlines the requirements designed to increase transparency related to executing client orders on trading venues intended to improve investor protection.

AQA Capital Ltd analysis for the year 2018:
RTS 28 Qualitative Analysis can be accessed here
RTS 28 Execution Venue Disclosure can be accessed here

AQA Capital Ltd analysis for the year 2019:
RTS 28 Qualitative Analysis can be accessed here
RTS 28 Execution Venue Disclosure can be accessed here

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