The FINANCIAL — Societe Generale and Euronext announced on March 15 they are joining forces to offer retail investors “Best of Book”, Euronext’s best execution service.
This service will enable customers in Societe Generale’s French network to benefit from a greater quality of order execution on the exchange at a competitive price
Launched in November 2016, Best of Book allows brokers to obtain superior execution quality in terms of price, speed and likelihood of execution for the 550 most liquid shares listed on Euronext markets. Specialised liquidity providers compete openly to offer quotes that are at or better than the European Best Bid and Offer. Euronext works with market quality specialists (LiquidMetrix) to supply Best of Book clients proof of best European execution of their trades through daily reports. The service facilitates compliance with regulatory requirements for best execution for retail customers, as stipulated by MiFID I and MiFID II.
With over 30 brokers now connected to Best of Book, Euronext has brought together the entire broker community from its French, Belgian, Dutch and Portuguese markets since the service was launched, according to Euronext.
“By offering Best of Book to our investor clients, Societe Generale guarantees the best execution of their buy and sell trades on European markets. Our customers gain access to better prices for over 550 Euronext shares, including the Societe Generale share. This solution is transparent and complies with new regulations (MiFID II), and another reason to invest in shares directly through our app or our website,” said Laurent Goutard, Head of Societe Generale Retail Banking in France.
“Our partnership with Societe Generale is a milestone in the expansion of our Best of Book offer. Together, we will support retail investors by providing a transparent and cost-efficient order execution service.” said Anthony Attia, CEO of Euronext Paris.