Fund Managers Aren't Prepared for MiFID `Best Execution' Rules
- Liquidnet survey finds 6% are prepared, 61% need to add detail
- Survey polled heads of trading at funds in April and May
What MiFID Means for Execution and Research
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With less than four months to go before Europe’s MiFID II rules kick in, the vast majority of fund managers aren’t prepared to meet its so-called best execution requirements -- obligations that require firms to demonstrate that they’re getting the optimal deal for clients.
A survey during April and May by dark pool operator Liquidnet Holdings Inc. found that just 6 percent of asset managers say they are ready to comply. About 61 percent said they’ll need to provide more granular detail to their best-execution policies, according to the results of 55 interviews with heads of trading and dealing at firms in North America and Europe.