Lies, Damn Lies and Best Execution Stats
Traders Magazine, January 2002
The new SEC rule that forces trading firms to provide customers with statistics on execution quality has lit a fire under two of the nation's largest brokerages. In one analysis of Rule 11Ac1-5 Nasdaq statistics prepared by Market Systems Inc., discounters Charles Schwab and Fidelity are shown in a negative light compared to full-service rivals, Merrill Lynch and Salomon Smith Barney.
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