%0 Journal Article %A Dorit Zeevi-Farrington %A Linda M Giordano %A Robert Kissell %A Heather Hallack %T The Transaction Cost Management Process %B Techniques for Achieving Best Execution %D 2001 %J Trading %P 36-43 %V 2001 %N 1 %X In light of the SEC's recent focus on best execution and the global trend that has brought about increased scrutiny of investment fiduciaries, proper transaction cost controls are paramount to a successful investment strategy. Technology has evolved to provide institutional investors not only the ability to monitor and measure transaction costs throughout the investment process, but mechanisms to help investors proactively reduce costs and ensure that best execution is being pursued. In this article, the authors outline a transaction cost management model that incorporates cost controls into the investment process in order to reduce costs before they occur. They also attempt to deconstruct transaction costs into their primary components to help investors understand factors that can affect performance. Finally, the authors present a decision support tool to facilitate trading strategy selection and a new set of metrics to accurately evaluate the efficacy of the trading strategy utilized and the performance of fiduciaries %U https://guides.pm-research.com/content/iijtrading/2001/1/36.full.pdf