What is MiFID and MIFID II?

Prompted by changes in the way financial markets operate, the European Commission has introduced the Markets in Financial Instruments Directive (MiFID), as part of its Financial Services Action Plan (FSAP) in order to create a level playing field in the European Economic Area (EEA) from 1 November 2007.

The MiFID II reform means that organised trading of financial instruments must shift to multilateral and regulated trading platforms or be subject to transparency requirements where traded over-the-counter (OTC). Strict transparency rules will ensure that dark trading of shares and other equity instruments which undermine efficient and fair price formation will no longer be allowed. The implementation date was 3 January 2018.

RTS 27 and RTS 28

The reports required under MiFID II on execution quality (RTS 27) and on execution venue selection (RTS 28) for HSBC Bank Plc will be available on this web page in accordance with the timetable prescribed by ESMA.

Reports

Reporting Period

Expected Date

Link (when available)

RTS 28

2017
30 April, 2018

RTS 27

2018 Q1
29 June, 2018

RTS 27

2018 Q2
28 Sept, 2018

RTS 27

2018 Q3
31 Dec, 2018

RTS 27

2018 Q4
29 Mar, 2019

RTS 28

2018
30 April, 2019

RTS 27

2019 Q1
28 June, 2019

RTS 27

2019 Q2
30 Sept, 2019

RTS 27

2019 Q3
31 Dec, 2019

RTS 27

2019 Q4
31 Mar, 2020

RTS 27

2020 Q1
30 June, 2020

RTS 27

2020 Q2
30 Sept, 2020

RTS 27

2020 Q3
31 Dec, 2020

RTS 27

2020 Q4
31 Mar, 2021

RTS 28

2020
30 April, 2021

RTS 28

2021
30 April, 2022

RTS 28

2022
14 April, 2023

RTS 28

2023
29 April, 2024

Find out more about MiFID Best Execution

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