easy · CFA Level I ethics
A trader at Kestrel Grid is executing a large block trade for several clients. One of the clients is the trader's father, who pays a standard advisory fee. The trade is filled in multiple lots throughout the day at different prices. The trader should:
- Give the father's account the worst (highest) price of the day to ensure no other client is disadvantaged.
- Assign the father's account the average price of the execution, just like all other participating clients.
- Give the father's account the best (lowest) price of the day to demonstrate loyalty.
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