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Trade Management Guidelines

Enhance the oversight of trading

Trade Management Guidelines

View the Guidelines (PDF)


The CFA Institute Trade Management Guidelines help investment firms, investment professionals, and investors better understand the complexities of "best execution," the trading process that maximizes the value of a client's portfolio.

What is Covered?

  • The processes firms use to execute and oversee trades
  • Disclosure of those processes and possible conflicts of interest
  • Record keeping standards

Why was it Developed?

Globalization, regulatory, and marketplace changes; advances in technology; and extended trading hours have had a profound impact on trading and how firms seek to obtain best execution.

Use of the Trade Management Guidelines will:

  • Ensure clients receive the highest degree of care through comprehensive controls
  • Enhance the oversight of trading