About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

AIMA Offers Guidance to Best Execution Under MiFID II

Subscribe to our newsletter

For hedge funds and other investment managers with a thirst for information on how best execution will change under MiFID II, the Alternative Investment Management Association (AIMA) has just released its MiFID2 Best Execution Guide.

Best Execution under MiFID II differs from its predecessor’s provisions in two main ways. First, MiFID II requires investment firms to take “all sufficient steps” to ensure the best possible outcome when executing client orders, while MiFID I required only “all reasonable steps.” Second, it applies MiFID I’s best execution parameters – price, cost, speed and likelihood of execution and settlement, size and nature of orders – across a range of asset classes, whereas MiFID I applied only to equities.

According to AIMA, to comply with the new requirements, firms will need to review their execution policies and client disclosures (such as Investment Management Agreements). Fund managers also will be required to publish annual reports about their choice of trading venues and brokers.

AIMA’s guide aims to set out the practical considerations that firms will need to take account of in order to ensure they are ready for the MiFID2 deadline and maintain ongoing compliance standards. The guide was developed by AIMA in conjunction with a working group of members. The law firm Dechert LLP chaired the working group and is the sponsor of the guide.

Interestingly, AIMA reckons MiFID II’s reach will be felt outside of the EU. “Our recent MiFID2 survey indicated that some of our members with an international presence are setting the MiFID2 best execution requirements as their global standard,” says AIMA CEO Jack Inglis.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Navigating the Build vs Buy Dilemma: Cloud Strategies for Accelerating Quantitative Research

Date: 20 May 2026 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes For many quantitative trading firms and asset managers, building a self-provisioned historical market data environment remains one of the most time-consuming and resource-intensive steps in establishing a new research capability. Sourcing data, normalising symbologies, handling corporate actions and maintaining...

BLOG

Swap Data Was Supposed to Deliver Transparency. A Decade Later, Regulators Are Still Trying to Use It

For more than a decade, regulators have collected vast quantities of derivatives transaction data through swap data repositories (SDRs) mandated by post-crisis financial reforms. Yet despite the scale of these datasets, transforming reported trade data into meaningful supervisory insight has often proved more difficult than policymakers anticipated. A new Memorandum of Understanding (MOU) between the...

EVENT

TradingTech Summit London

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Data Lineage Handbook 2019

Welcome to our latest handbook on data lineage, a critical concern for data managers working to achieve regulatory compliance, deliver operational gains, and provide meaningful value to the business. The handbook covers the complete scope of data lineage, with a view to helping you win management buy-in and budget, decide whether to build or buy...