Execution Policy Clarity
Recognition for the specificity and accessibility of published execution policies, including price priority rules, order handling procedures, and latency disclosure.
Assessment Criteria
What We Look For
- Published execution policy document or page
- Price improvement and priority rules clearly stated
- Latency expectations or benchmarks disclosed
- Re-quote and rejection policies documented
Evidence Requirements
What We Verify
- Direct URL to execution policy page
- Policy must be specific (not generic legal boilerplate)
Scoring Weight: 20 points out of 100 total methodology points.
Results History
Winners by Quarter
NDD publishes a comprehensive Execution Policy page covering price priority rules, latency expectations, re-quote policies, and order handling procedures. The policy goes significantly beyond standard regulatory boilerplate and provides specific, actionable information.
Evidence Sources
No Award Issued
Pilot edition: formal awards were not issued. Execution policy specificity showed the widest variance among nominees, from detailed procedural documentation to generic regulatory language.