Quality of Trading


MiFID (Markets in Financial Instruments Directive) is a EU guideline that came into effect on 1 November 2007.


Its aims are the harmonisation of the financial markets in the single European market, stronger competition between the trading venues and improved investor protection.

A core element of MiFID is the obligation of financial services institutions to provide “best execution” for their customers`orders. The law names the price, costs, pace and likelihood of execution as relevant criteria for achieving the best result.

At which price an order can be carried out depends on the Bid and Ask Spread available on the respective market.


Quick links

Notices: All notices
Börse Berlin: Market Participants
Börse Berlin: Two Market Places
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