Traders Magazine, July 2002
Best Execution *The National Association of Securities Dealers is still trying to find a clear standard on best execution, and is seeking comments on several tricky parts of what it actually constitutes. Among those issues under discussion by the NASD are whether, "the obligation of best execution should be limited to customer orders where there is an agreement or arrangement between two broker dealers that the recipient broker dealer would comply with the duty of best execution." The NASD is also asking whether best execution should, "be defined more broadly to include all orders that are identified by the routing member as customer orders." The NASD, finally, asks whether there should "be a different best execution rule for orders from foreign broker dealers or affiliates?" The comment period was slated to end on Aug. 9.
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