Although brokers, fund managers and regulators are still unable to concur on an exact definition of best execution, they all agree that any definition should take into account both speed and price.
So it’s disappointing to find that so few meet the billing. A study measuring the execution quality of market centres in the US by financial services technology consultancy Celent shows that for small marketable orders of stocks listed on the New York Stock Exchange just two brokers offer the desired combination of fast execution and good prices.
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