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

Multifonds and Ultumus Partner to Streamline ETF Operations for Fund Administrators

Multifonds, the fund administration software provider, and Ultumus, the SIX Group company specialising in ETF and index data technology infrastructure, have entered a strategic partnership aimed at removing the operational and technology constraints that continue to slow ETF adoption among fund administrators and asset managers. The partnership combines Multifonds’ fund administration and transfer agency platform...

EVENT

Eagle Alpha Alternative Data Conference, London, hosted by A-Team Group

Now in its 8th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

Enterprise Data Management

The current financial crisis has highlighted that financial institutions do not have a sufficient handle on their data and has prompted many of these institutions to re-evaluate their approaches to data management. Moreover, the increased regulatory scrutiny of the financial services community during the past year has meant that data management has become a key...