November 9, 2004
Bringing New Meaning to the Term, “Execution”
S.E.C. Is Said to Examine Stock Pricing by Big Brokers, by Jenny Anderson:
“Firms are obligated to seek the best possible executions for their customers’ orders, irrespective of payment for order flow or other inducements. However, payment for order flow and internalization create conflicts of interest for brokers because of the tension between the firms’ interests in maximizing payment for order flow or trading profits generated from internalizing their customers’ orders, and this fiduciary obligation to route their customers’ orders to the best markets.”
Cat: | Time: 7:15 am (utc+8)