Best execution in electronic banking and brokerage: an analysis of business and technical requirements
by Peter Gomber, Gregor Pujol
International Journal of Electronic Banking (IJEBANK), Vol. 1, No. 1, 2008

Abstract: The Markets in Financial Instruments Directive (MiFID) has to be applied by investment firms and regulated markets in Europe from 1 November 2007. The goal of this paper is to discuss and evaluate its key regulatory requirements, associated business and IT implications with an emphasis on the best execution obligation. Based on that, different alternatives for the practical realisation in organisational processes and IT systems will be presented. Empirical evidence is provided based on the results of two studies on the preparatory status for MiFID of the German financial industry conducted in 2006 and 2007.

Online publication date: Wed, 24-Sep-2008

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