MIFID

The MiFID or Markets in Financial Instruments Directive (2004/39/EC) regulated the financial markets in the European Union from 31 January 2007 to 2 January 2018.

As from 3 January 2018, the new MiFID II Directive (2014/65/EU) came into force across the EU, which together with MiFIR or Markets in Financial Instruments Regulation (EU Regulation no. 600/2014) took the place of the previous European regulation, with the aim of creating a better integrated and more competitive and transparent financial market, further enhancing investor protection.

As Banca Akros, we work with Professional Customers and Qualified Counterparties.

Directive 2014/65/EU (MiFID II) and Delegated Regulation 2017/576 require investment companies to publish the report containing the top five execution venues by trading volume where the Bank executed customer orders in the previous year and the top five brokers by trading volume to which the Bank sent customer orders in the previous year, as well as information on the quality of execution achieved.

Directive 2014/65/EU (MiFID II) and Delegated Regulation 2017/575 require execution venues (regulated markets, MTFs, OTFs, systematic internalisers, market makers and other liquidity providers) to publish data on the quality of execution of transactions at that venue, at the latest within three months of the end of every quarter. In compliance with the above-mentioned European Regulation, the file is made available in text format in the meta-language.xml, i.e. a machine readable electronic format that allows the public to download, search, organise and analyse all the data provided without charges.