Within the introduction of MiFID (Markets in Financial Instruments Directive), the European Commission is aiming to ensure uniform competitive conditions for financial service providers and trading platform operators (stock exchange), as well as improved investor protection for private investors, in particular through increased market transparecy and integrity. In other words, the European Union directive constitutes a body of legislation that primarily redefines the legal framework for financial, securities and investment advisory services. This means that market participants will be required to formulate and reorganise their services and workflows in such a way as to be MiFID-compliant. Baader Bank AG offers expert advice and support for its client´s individual solutions, providing a comprehensive range of MiFID-relevant services.

MiFID-relevant services offered by Baader Bank AG:

- Best Execution

• Advisory services for clients and joint development of MiFID-compliant customer management and order execution processes.
• Development of best execution policies for selecting the best order execution location for the customer based on price or other individual trading centre criteria.
• Database research, preparation and maintenance and implementation of procedures for direct comparison, including pricing and fee information, and the evaluation of trading centre criteria of best execution (script processing)
• Regular review and adjustment of best execution policies as required
• Creation of customized client policy accounts by Baader Bank AG
• Order routing: customer order settlement in accordance with relevant client policies
• Duty to keep records: archiving all revelant paramenters as the basis for the documentation to be included in the best execution decision for the respective order
• Customer transparency: auditability of best execution process through web-based research function for the respective order

- XETRA Best

In this context, Baader Bank AG also offers its clients BEST Executor services for Deutsche Börse AG´s XETRA Best trading platform. These acitivities are based on a civil law agreement with corresponding order flow providers on the required conditions for the improved execution of customer orders compared with the original XETRA order book within a regulated market via the XETRA trading platform.

Best Execution Guide

A survey of the best execution services offered by Baader Bank AG relating to structure and practice of order execution policies, the available and applicable versions of execution policies up to the technical requirements, can be found by downloading the Best Execution Guide. To specify the best execution services and to present the template policies, the MiFIS-team of Baader Bank AG will be happy to visit you on site.

Titel	File Type	File Size
Best Execution Guide english	PDF	177 KB