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Primary vs. Secondary Market Execution
Josef Fehr / UBS Warburg
2 Jan 2001 8:48AM ET

Most of the shares of mutual funds can be traded both on the primary market (mutual fund is counterparty) and on the secondary market (other broker is counterparty).
Just for clarification: Is it correct for the buy side client to use value R = Primary peg (primary market - buy at bid/sell at offer) of tag 18 (ExecInst) to indicate that the order should be executed on the primary market by the broker ?

Any advice on this would be appreciated,

Josef

Primary vs. Secondary Market Execution
Josef Fehr / UBS Warburg   2 Jan 2001 8:48AM ET

re: Primary vs. Secondary Market Execution
Ryan Pierce / Townsend Analytics Ltd. / Archipelago LLC   2 Jan 2001 9:22AM ET

re: Primary vs. Secondary Market Execution
Josef Fehr / UBS Warburg   3 Jan 2001 3:10AM ET

re: Primary vs. Secondary Market Execution
Ryan Pierce / Townsend Analytics Ltd. / Archipelago LLC   3 Jan 2001 9:04AM ET

re: Primary vs. Secondary Market Execution
Chris Lambert / EMX Company Limited   8 Jan 2001 8:12AM ET