All client orders must be approved by a supervisor:

The requirement that all client orders must be approved by a supervisor promptly after execution ensures oversight and compliance within the trading process. This practice helps mitigate risks, protects clients, and maintains the integrity of the trading environment. By requiring post-execution approval, firms can monitor for any unusual trading activity, adherence to regulatory standards, and that orders align with the clients’ best interests.

The emphasis on post-execution approval reflects a model where supervision occurs in a manner that allows for the identification of issues before they escalate, ensuring that any mistakes or unauthorized trades can be addressed promptly without compromising market integrity.

In contrast, pre-execution approvals, while also necessary in some contexts, do not specifically align with the concept that all client orders require post-trade validation to ensure compliance and risk management. Similarly, the options regarding approval upon receipt or within a certain timeframe after execution do not capture the essence of the critical oversight that post-execution approval seeks to enforce.