ESMA_QA_2559
03/06/2025
Subject Matter
Payment for order flow (PFOF) prohibition and OTC execution of client orders
    Does the prohibition of receiving payment for order flow (PFOF) apply to situations where the order is not executed on a trading venue, for instance for products traded over the counter (OTC)?
    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