Our best execution service refers to our obligation of investment services firms (such as brokerages) to execute each customer order such that the prices reflect an optimal mix of price improvement and speed and likelihood of execution. In practice, we send customer orders to venues with the the best execution statistics.
In order to determine the compliance with the best execution requirement, CUDYLL evaluates all customer orders individually and in aggregate, to assess which competing market venue, market makers, or electronic communications networks (ECNs) offer the most favorable terms of execution. CUDYLL Securities determine the best execution compliance, by evaluating the orders we receive from all customers in aggregate.
Although we do assess which competing markets, market makers, or electronic communications networks (ECNs) offer the most favorable terms of execution, best execution remains an elusive concept because of variations in the latency and liquidity, which are prime objectives for the investors.
The best execution decision is evaluated by selecting preferences of market centers or counterparties who consistently meet or exceed our quality benchmarks.
When executing customer orders, the opportunity to get a better price than quoted, the speed of execution, and the likelihood trade will be executed are some of the factors we consider.
We achieve the best execution outcome by navigating the stream of new opportunities and regulations that shape our landscape.