In response to the regulatory requirements under Commission Delegated Regulation (EU) 2017/576 of 8 June 2016, we provide information on the five most important entities for each class of financial instruments to which the Bank, in its capacity as an investment intermediary, transmits client orders for execution, as well as information on the top five execution venues.
Information on the Quality of Order Execution
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The primary factor in achieving best execution is the price of the order.
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In 2024, the client orders received were “directed orders”, and the method of execution did not differ depending on the client categorisation.
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In addition to the price and costs of the order, factors such as liquidity and execution speed are also taken into account. Orders submitted with specific instructions from the client are executed in accordance with those instructions.
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The Bank has no close links, conflicts of interest or common ownership with any of the execution venues, with the exception of the position of Chair of the Board of Directors of Bulgarian Stock Exchange – Sofia AD held by one of the members of the Management Board of Eurobank Bulgaria AD.
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The Bank has no special arrangements with execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received.
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In 2024, the Bank did not change the execution venues included in its Policy.
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Eurobank Bulgaria AD analyses order execution data based on information from the available systems.
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In 2024, the Bank did not use a consolidated tape provider (CTP) established in accordance with Article 65 of MiFID II.