HZHarlyz

Brokerage

Best Execution Evidence for Multi-Entity Brokerages

How to build a defensible execution record without slowing trade operations.

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February 5, 2026 · 1 min read · Harlyz Advisory

Why regulators focus on execution evidence

Execution quality is a primary lens for regulator reviews. Firms need to demonstrate not only that pricing is fair, but also that decision-making is documented and reproducible across entities.

Core evidence regulators expect

  • Documented execution policies aligned to each license
  • Regular reviews of execution quality and slippage
  • Clear governance for dealing desk overrides

Practical implementation steps

  1. Standardize execution policy language across entities.
  2. Create dashboards that compare execution quality by venue.
  3. Assign control ownership for review cycles and exceptions.

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