Best Execution Reporting

Best execution reporting is the set of disclosures a firm publishes about how and where it actually executed client orders, as distinct from the policy that says how it intends to. European rules have at various times required firms to publish annual summaries of their principal execution venues and periodic data on execution quality; those obligations have been amended more than once, so what is currently in force has to be read from the regulator's own rulebook rather than assumed from an older article. The value of these reports to a retail reader is limited but real. They are aggregate, backward-looking and not comparable across firms in any rigorous way, so they cannot be used to rank brokers. What they do show is which venues a firm actually relied on and whether that matches the policy it published — a consistency check rather than a performance measure. Your own fill records remain the more direct evidence of the execution you personally received.