Best Execution under Soft Dollar Standards III

Standard (III) is ambiguous regarding what “Best Execution” means. According to the definition in the reading, it means the total cost is “most favorable under the particular circumstances at that time.” Does that always mean the cheapest Broker? I’m not sure how Best Execution is reconciled with other recommended criteria such as responsiveness, spread, range of services, etc.

Any thoughts?

It was never very clear to me how one had to balance execution cost against the value of research provided by the broker. Read this:

Thanks, it’s still not clear to me on that thread, either. I couldn’t find the content of the link someone provided on that thread to answer the question :(.

It never was clear to me.