HSBC Group MiFID Best Execution Programme

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 28 2017 Reports
RTS 27 2018 Q1 29 June, 2018 RTS 27 2018 Q1 Reports
RTS 27 2018 Q2 28 Sept, 2018 RTS 27 2018 Q2 Reports
RTS 27 2018 Q3 31 Dec, 2018 RTS 27 2018 Q3 Reports
RTS 27 2018 Q4 29 Mar, 2019 RTS 27 2018 Q4 Reports
RTS 28 2018 30 April, 2019 RTS 28 2018 Reports
RTS 27 2019 Q1 28 June, 2019 RTS 27 2019 Q1 Reports
RTS 27 2019 Q2 30 September, 2019 RTS 27 2019 Q2 Reports