best execution

best execution definition - finance
The best price of a trade that is reasonably available. A broker has a duty to obtain the best price, called an execution. When making a trade, a broker must consider opportunities to get a better price than what is currently quoted, the speed of execution, and the likelihood that the trade will be executed. In doing so, the broker evaluates which markets, market makers, or electronic communications networks (ECNs) offer the most favorable terms of execution.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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