ESMA_QA_2558
03/06/2025
Subject Matter
Payment for order flow (PFOF) prohibition and client instructions for order executions
    Does the prohibition of receiving payment for order flow (PFOF) apply to situations where the client provided a specific instruction to the investment firm to execute the order on a particular execution venue?
    Status: Forwarded to EC/Public Consultation/Other

    Additional Information

    Level 1 Regulation
    Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries
    Additional Legal Reference
    Article 39a
    Topic
    Inducements