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How Does “Best Execution” Standard Apply to Institutional RFQ Trading?

Best execution is a regulatory requirement that mandates brokers and trading venues to take all reasonable steps to obtain the most favorable result for their clients, considering price, cost, speed, and likelihood of execution. In RFQ, this means selecting the best quote from the pool of responses.

The platform must demonstrate a robust process for achieving this standard.

Can Front-Running Occur on a Request for Quote (RFQ) Options Platform?
What Is the Significance of ‘Best Execution’ Standards in the Agency Model?
Is the Cash Flow Impact of MTM the Same for Both Long and Short Positions?
How Do Market Makers Utilize Dedicated Low-Latency Connections (Like Cross-Connects) for RFQ Platforms?