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ESMA Q&A 1067 — Q&A — Best Execution [Answer Published]
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Best Execution
Question
Do the RTS 28 reporting requirements of investment firms related to the execution of client orders through third-country execution venues only apply to third-country venues qualified as equivalent by the European Commission?
Answer
[ESMA35-43-349 Investor protection Best execution Q&A 24]
The wording in Recital 2 of RTS 28 on “any entity that performs a similar function in a third country” refers to execution venues located in third countries, irrespective whether or not the European Commission has made an equivalence decision on the third-country market.
Source: ESMA original document