Best Execution. The Company acknowledges that the Advisor will not be obliged to provide best execution, as that term is defined in the rules of the UK’s Financial Services Authority (“FSA”). The Advisor will use its best endeavours to obtain the best possible price when executing orders but it manages a number of other accounts and when there are split price fills not all accounts can receive the best prices. The Adviser will use a proprietary averaging algorithm which seeks to minimize the standard deviation of the average price achieved by each account and thus achieves the best price allocation mathematically possible, so that each account receives an average price as close as possible to that of the entire order.
Appears in 12 contracts
Samples: Advisory Agreement (World Monitor Trust Ii Series E), Advisory Agreement (Diversified Futures Fund L.P.), Advisory Agreement (Diversified Futures Trust I)
