Business, Legal & Accounting Glossary
The Stock Exchange rule that requires brokers to carry out a deal on behalf of a client at the best price available in the market. The concept of best price is hard to define. If a broker thinks that the market is falling, should they hang on before buying? Brokers have some discretion but, generally speaking, they execute deals immediately (as much for their own protection as anything else). Timely execution means carrying out the deal within 20 minutes of receiving the client instruction.
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This glossary post was last updated: 26th April, 2020 | 0 Views.