Article 9 Execution policy

the arrangements ensuring that the clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; has provided consent on the execution policy prior to the execution of the order;

a list of the trading platforms for crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; on which the notifying entity will rely for the execution of orders and the criteria for the assessment of execution venues included in the execution policy in accordance with Article 78(6) of Regulation (EU) 2023/1114;

which trading platforms the notifying entity intends to use for each type of crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; and confirmation that the notifying entity will not receive any form of remuneration, discount or non-monetary benefit in return for routing orders received to a particular trading platform for crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology;;

how the execution takes into accout price, costs, speed, likelihood of execution and settlement, size, nature, conditions of custody of the crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; or any other relevant factors that are considered as part of all necessary steps to obtain the best possible result for the clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;;

where applicable, the arrangements for informing clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; that the notifying entity will execute orders outside a trading platform and how the notifying entity will obtain the prior express consent of its clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; before executing such orders;

how the clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; is being warned that any specific instructions from a clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; may prevent the notifying entity from taking the necessary steps, in line with the arrangements that the notifying entity has established and implemented in its execution policy, to obtain the best possible result for the execution of those orders in respect of the elements covered by those instructions;

the selection process for trading venues, execution strategies employed, the arrangements used to analyse the quality of execution obtained and how the notifying entity monitors and verifies that the best possible results were obtained for clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;;

the arrangements to prevent the misuse of any information relating to clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;’ orders by the employees of the notifying entity;

the arrangements and procedures for how the notifying entity will disclose to clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; information on its order execution policy and notify them of any material changes to their order execution policy;

the arrangements to demonstrate compliance with Article 78 of Regulation (EU) 2023/1114 to the competent authoritymeans one or more authorities:designated by each Member State in accordance with Article 93 concerning offerors, persons seeking admission to trading of crypto-assets other than asset-referenced tokens and e-money tokens, issuers of asset-referenced tokens, or crypto-asset service providers;designated by each Member State for the application of Directive 2009/110/EC concerning issuers of e-money tokens;, upon the request of that competent authoritymeans one or more authorities:designated by each Member State in accordance with Article 93 concerning offerors, persons seeking admission to trading of crypto-assets other than asset-referenced tokens and e-money tokens, issuers of asset-referenced tokens, or crypto-asset service providers;designated by each Member State for the application of Directive 2009/110/EC concerning issuers of e-money tokens;.