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Published]\"\nanswer_id: ESMA_QA_1065\ntopic: \"Best Execution\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MiFID II\"\nmifid_level3: true\nmica_level2: false\nlegal_basis: \"MiFID II\"\ndate: 29 May 2019\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1065\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 29 May 2019\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1065\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_1065: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2019-05-29\"\n  question_submitted_on: \"2019-05-29\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1065, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1065, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 29 May 2019 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 29 May 2019 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1065)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1065 — Q&A — Best Execution \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1065 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 29 May 2019; question submitted 29 May 2019 |\n| **Legal basis** | MiFID II |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Best Execution**\n\n### Question\n\nWhat information should execution venues and investment firms report in the template fields of RTS 27 and 28, if the required content is not applicable to their activities?\n\n***\n\n### Answer\n\n\\[ESMA35-43-349 Investor protection Best execution Q&A22\\]\n\nAs part of their respective reporting obligations related to the quality of execution, execution venues (RTS 27) and investment firms (RTS 28) should insert a ‘N/A’ (i.e. ‘not applicable’) reference in template fields which are not applicable to their activities.\n\nFor example, according to the relevant RTS 27 template, execution venues should insert ‘N/A’ in the respective field (e.g. in the field referring to ‘scheduled auctions’), if the required content is not applicable to the activities of the execution venue.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1065)\n"}