Commission Delegated Regulation (EU) 2026/825 on order execution policies of investment firms

The European Commission adopts regulatory technical standards specifying the criteria investment firms must use to establish and assess the effectiveness of their order execution policies. The regulation mandates that firms maintain an internal list of selected execution venues, justify the use of single-venue strategies, and define specific routing criteria and valuation systems for over-the-counter trades. It also requires firms to disclose the potential negative impacts of specific client instructions and to monitor policy effectiveness at least annually. This regulation repeals Delegated Regulations (EU) 2017/575 and (EU) 2017/576 and applies 18 months after entry into force.

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Source: European Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works