RTS 28 reporting is a report that investment firms must publish annually on 30 April for each category of financial instruments in accordance with COMMISSION DELEGATED REGULATION (EU) 2017/576 of 8 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the annual publication of information by investment firms on the identity of trading venues and the quality of execution (RTS28) and in accordance with Section 82 (9) WpHG.

The report contains information on the five most important execution venues at which the investment firm executed client orders in the previous calendar year. It is intended to give the public and investors the opportunity to check the quality of the execution of the investment firm's client orders and to identify the top five execution venues of the past year.

Capital management companies are not considered investment firms within the meaning of MiFID II and are therefore not required to prepare the Top 5 reporting. However, they are obliged to prepare the top 5 reporting for mandates for which they act as financial portfolio managers.