FSA reprieves fixed income market on Mifid’s best execution
UK regulator the Financial Services Authority has turned back from proposals set out in a discussion paper published over six months ago on how it might implement the EU’s forthcoming Markets in Financial Instruments Directive’s (provision on best execution. London-based bond dealers will be breathing a sigh of relief on the news since it means they should be able to continue providing liquidity to their clients. Best execution requires dealers to get the best result for clients, in terms of price, speed, costs, likelihood of execution and any other factors that influence a deal.
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