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Who are the real beneficiaries of MIFID 2?

Advanced Markets

What rights, and what direct benefits do traders receive?

So, to get straight to the point, the MIFID 2 dawn of transparency brings with it a demand for the complete disclosure of information and detail on every aspect of your trade; the price, the execution and the full breakdown of the transaction. Everything that may have been concealed or kept quiet until now, by many brokers, will finally be revealed.

To help you understand more, here are a few pointers on what FX traders are entitled to ask from their broker under the new MIFID 2 rules, effective January 3rd 2018.

- Best execution reports, including counterparty disclosure.
“Upon reasonable request from a client, investment firms shall provide its clients or potential clients with information about entities where the orders are transmitted or placed for execution.”

Summary: As a trader you will be able to demand a full leg execution report of your trade, with the complete disclosure of the counter party execution venue. You will clearly see if your trade was internalized (B-booked) or was went straight to the market for execution (full STP).

Read more at https://blog.advancedmarketsfx.com/who-benefits-from-mifid-2

Advanced Markets Review

Source: https://blog.advancedmarketsfx.com/who-benefits-from-mifid-2
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