<Dl> <Dt> Best execution </Dt> <Dd> MiFID will require that firms take all reasonable steps to obtain the best possible result in the execution of an order for a client . The best possible result is not limited to execution price but also includes cost, speed, likelihood of execution and likelihood of settlement and any other factors deemed relevant . </Dd> </Dl> <Dd> MiFID will require that firms take all reasonable steps to obtain the best possible result in the execution of an order for a client . The best possible result is not limited to execution price but also includes cost, speed, likelihood of execution and likelihood of settlement and any other factors deemed relevant . </Dd> <Dl> <Dt> Systematic Internaliser </Dt> <Dd> A Systematic Internaliser is a firm that executes orders from its clients against its own book or against orders from other clients . MiFID will treat Systematic Internalisers as mini-exchanges, hence, for example, they will be subject to pre-trade and post-trade transparency requirements (see above). </Dd> </Dl> <Dd> A Systematic Internaliser is a firm that executes orders from its clients against its own book or against orders from other clients . MiFID will treat Systematic Internalisers as mini-exchanges, hence, for example, they will be subject to pre-trade and post-trade transparency requirements (see above). </Dd>

What is the difference between mifid and non mifid