Best Execution Policy
Raymond James is committed to ensuring that customers receive best execution and best price in accordance with industry standards and applicable regulations. In accordance with these standards and regulations, trading departments for PCG and ECM implement and maintain appropriate policies and procedures regarding execution quality.
Raymond James Ltd. will execute each client order on the most beneficial terms available under the prevailing market circumstances at the time of the order. Factors taken into consideration include price, order size, speed of execution, likelihood of execution and settlement, marketplace volume, liquidity and transaction costs.1
Respecting "best price" obligations, Raymond James is a subscriber to all "protected" marketplaces and utilizes "smart order routing" technology for all trading platforms. In the event of a disruption of service that limits access to a specific marketplace, or any other technical issue that may impede order routing, Raymond James Ltd will, at its discretion, route orders to any available marketplace as circumstances warrant.
Raymond James Ltd. regularly monitors trading activity in each marketplace and conducts post-trade order reviews to ensure that best execution is achieved by our clients.
1Raymond James Ltd. seeks to obtain the best price available for each trade executed; however market conditions and volatility may result in an execution price that differs from the quoted price at the time of order entry.