Buy side hopes for best execution reporting carve-out

The European Commission’s proposed rollback of best execution reporting has left some wondering why the carve-out stopped short of the buy side’s reporting obligations.

The proposed amendments to the second Markets in Financial Instruments Directive (Mifid II), published on July 24, include a two-year suspension of the quarterly best execution reports compiled by trading venues and systematic internalisers.

Intended to reduce the administrative burden and aid the recovery from the Covid-19