Nasdaq OMX Eyes 'Market Replay for MiFID' European Display

The exchange aims to release the product, dubbed Market Replay for MiFID, in the fourth quarter of this year, and hopes it will highlight the quality of executions on its Nadsaq OMX Europe multilateral trading facility, which went live last Friday, in addition to its core use as a tool for ensuring best-execution compliance.

Although best execution is not simply focused on price in Europe, as in the US, the European product will allow users to calculate "a custom best bid and offer based on o