JWG-IT Implementers’ Corner: Thou Shalt Not Screw Thy Customer By PJ Di Giammarino, CEO, JWG-IT Group Limited
At 31 Jan 2008 06:02:37 in MM-Contributed Article, MiFIDMonitor.com
One has to look in many places to understand the new relationship between the customer and their investment firm post-MiFID. Best execution policies are a good start, but the terms of business and lists of venues buried on web sites must also be researched. JWG-IT has sampled 50 relationships and found that it is true that the vast majority of best execution policies are basic, outlining merely generic price and the nature of orders with no specific references to acceptable execution speeds or transparent cost information. The general approach has been to assert that the right trades will be executed despite a changing and uncertain environment.
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