Introduction

FCA Rules and Guidance place a high-level obligation on firms to ensure that client orders are executed on terms that are most favourable to that client, which is referred to as the “best execution obligation”. The Markets in Financial Instruments Directive 2014/65/EU further enhanced this standard by requiring that firms take “all sufficient steps” to obtain the best possible result for its clients on a consistent basis when executing and transmitting orders.

This below policy set out the approach taken by River and Mercantile Asset Management LLP in ensuring that the best outcome is obtained for its clients on a consistent basis when executing client orders and transmitting orders to third parties for execution.