Price is sole factor in best execution – Pimco

Portfolio manager calls for tougher oversight of market-makers

Pimco - best price equals best execution

Dealers are trying to lure clients into thinking about best execution in terms other than pure price, a portfolio manager at Pimco argued yesterday at a conference in London. Fellow bank panellists had suggested a distinction between best price – which should be the goal of more "vulnerable" clients – and fair execution, which would serve the need of more sophisticated customers.

"I completely disagree with fair price versus best price," said Alex Struc, a portfolio manager at Pimco. "This is a

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