Cross-Trading by ERISA Plan Managers

This document is about a review of academic literature on the benefits and risks of cross-trading by ERISA plan managers. It discusses the potential savings from cross-trading, transaction costs, liquidity considerations, and intraday trading patterns that can impact the fairness of cross-trading. The paper concludes that while cross-trading could provide substantial savings, there are also risks that would need to be mitigated through strong oversight and controls.