BEST EXECUTION Definition

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BEST EXECUTION is NASD Rule 2320 The obligation of Market Makers, broker/dealers, and others to execute customer orders at the best price available at the time the trade is entered.

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ACCOUNTING MEASUREMENT AND DISCLOSURE is the concepts of measurement and information disclosure required for decision making.

IMMUNIZED PORTFOLIO is a portfolio structured such that the duration equals the duration of the investor's liabilities. The assets in the portfolio are structured to match the volatility of the investor's liabilities, thereby significantly reducing exposure to interest rate risk.

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