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{{a|g|}}''See also, for detailed {{tag|FCA}} rules: {{cobsprov|Dealing and managing}} and generally the [[COBS Anatomy]]'' | {{a|g|}}''See also, for detailed {{tag|FCA}} rules: {{cobsprov|Dealing and managing}} and generally the [[COBS Anatomy]]'' | ||
Best execution is a standard imposed by regulators on the execution of traded financial services products by [[broker-dealer]]s on | Best execution is a standard imposed by regulators on the execution of traded financial services products by [[broker-dealer]]s on behalf of their clients. It will, therefore, depend to an extent on the jurisdiciton in question, but the general thrust will be consistent wherever it applies. | ||
===FCA=== | ===FCA=== | ||
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*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. | *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. | ||
{{sa}} | |||
*{{tag|CESR}} [[media:CESR Best Execution QA 07_320.pdf|Question and Answer paper on best execution under MiFID]] | *{{tag|CESR}} [[media:CESR Best Execution QA 07_320.pdf|Question and Answer paper on best execution under MiFID]] | ||
*[[Media:Letter-cesr-best-execution en.pdf|Best Execution opinion - European Commission]] | *[[Media:Letter-cesr-best-execution en.pdf|Best Execution opinion - European Commission]] |