Question of the Week: Level 3 – Ethics (3)

The correct answer is Option C. 

Standard III(A) requires Stefan to seek the best execution for each client.  For some clients, the explicit cost of the trade – the fees charged – is more important than the speed at which the trade is executed.  For other clients, the speed at which the trade is executed is more important than the explicit cost of the trade.  Best execution means getting the most appropriate combination of cost and speed for each transaction for each client.