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Best execution: Difference between revisions
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[[File:prior_express_consent.jpg|200px|thumb|right|{{tag|ESMA}} guidance on prior express consent]] | |||
===Consent=== | ===Consent=== | ||
The requirement for client prior consent arises in two places: | The requirement for client prior consent arises in two places: | ||
*The client is required to provide its "prior consent" to the firm's best execution policy. | *The client is required to provide its "prior consent" to the firm's best execution policy. That is something that can be deemed by the client’s action in placing an order with the firm. | ||
* | *However the client is required to provide its "prior '''''express''''' consent" to a firm handling its orders outside a {{tag|regulated market}} or {{tag|MTF}}. These two standards are officially different, as the captioned extract from the ESMA guidance makes clear, however potty that may seem. | ||
These two standards are officially different | |||
===See Also=== | ===See Also=== | ||