What is the latest date after year-end by which firms executing or transmitting client orders, or portfolio managers, should publish the report showing their top five execution venues or firms where they have sent client orders and information about the quality of the execution they obtained?

Answer 5

Reports published under RTS 28 or Article 65(5) of the MiFID II Delegated Regulation are intended to provide the public with valuable data that will diminish information asymmetries and help investors select the firms they want to work with. To ensure those investors have up- to-date information, ESMA considers it suitable that the reports should be made public on or before the 30th of April following the end of the period to which the report relates.