SEC Regs in Wake of AIMR Guidelines?
Traders Magazine, January 2003
Best execution is not necessarily the best price. It is not something that can be measured on a trade-by-trade basis. Instead, it is a process that is not quantifiable, but is a set of quality standards, according to an industry trade group. "Best execution for firms refers to a trading process firms apply that seeks to maximize the value of a client's portfolio given each client's stated investment objectives and constraints." This is part of a report and a set of trade management guidelines recently issued by a task force of the Association for Investment Management and Research (AIMR).
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