Trading: Best Execution

For every order, our traders assess which market offers the best price and least impact. We search the major exchanges, as well as market makers, ECNs, and dark pools to secure the best price available for our clients. We provide brokerage services to our clients in accordance with the SEC definition of Best Execution as outlined in Section V of Release 34-23170:

As a fiduciary, a money manager has an obligation to obtain "best execution" of clients' transactions under the circumstances of the particular transaction. The money manager must: execute securities transaction for clients in such a manner that the client's total cost or proceeds in each transaction is the most favorable under the circumstances.
A money manager should consider the full range and quality of a broker's services in placing brokerage including, among other things, the value of research as well as execution capability, commission rate, financial responsibility, and responsiveness to the money manager. The Commission wishes to remind money managers that the determinative factor is not the lowest possible commission cost but whether the transaction represents the best qualitative execution for the managed account.

Interstate Group management randomly reviews trades, and has meetings to evaluate trading techniques, industry enhancements and technology improvements. As specified in the Securities and Exchange Commission (SEC) Rules 605 and 606, Interstate provides statistical information about our routing practices for held orders in U.S. exchange-listed securities and options orders. We handle all client equity and option order flow on a not held basis, and as such, according to the Rules we are not required to report equity orders executed on a not-held basis. Execution statistics are available on the NatAlliance Securities website in accordance with Rule 606 by following the link Disclaimers. Based on the SEC's requirements, these statistics capture only a portion of The Interstate Group/NatAlliance Securities, LLC's order flow. For clients wanting more detailed reports as specified in SEC Rule 606 on the routing of their orders for a selective time frame, please contact us.

ISA Account

The Interstate Group's Online Statement Web site is provided exclusively for ISA Account holders. To log in you must enter a valid login and password.

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