The second Markets in Financial Instruments Directive ("MiFID II") came into force on 3 January 2018. MiFID II introduces new requirements for EU authorised investment firms that execute client orders. Firms are required to publish annual reports for each asset class in respect of which they owe a duty of best execution. The reports must set out the top five venues (by trading volume) where client orders were executed, must be split out into professional and retail client trades, and must contain certain other metrics where relevant. Firms are also required to produce reports summarizing the quality of execution obtained from the execution venues used. These reports must be published by 30 April each year to cover the preceding year. The reports for Citi Private Bank's advisory business effected through Citibank Europe Plc are attached below.
By trading volume: