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Thoughts on MiFID II's Impact on Best Execution Across EU Venues?
Been thinking a lot lately about how MiFID II, specifically RTS 27/28, actually plays out in practice for best execution obligations. With so many venues for a single stock and fragmented liquidity, it feels like it's gotten harder, not easier, to definitively prove best execution. Are firms really seeing a measurable improvement in client outcomes, or is it mostly an increased compliance burden with little tangible benefit beyond the paper trail?
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