问题如下：
1. For a CFA charterholder, would adhering to Omega’s policies regarding riskless principal transactions result in a violation of the CFA Institute Standards of Professional Conduct?
选项：
A. No.
B. Yes, because Omega disadvantages institutional clients.
C. Yes, because disclosure of the policy does not relieve Omega of its obligation to treat clients equally.
解释：
A is correct.
Mark-ups and mark-downs in net trades are considered fees paid by clients. Standard III(B) —Fair Dealing requires that members treat all clients fairly in light of their investment objectives and circumstances. Treating institutional and retail investors differently is not a violation. According to the Standards, members can differentiate their services to clients but different levels of service must be disclosed and should not negatively affect clients. Omega has made the appropriate disclosures to its clients in compliance with legal and regulatory requirements as well as the Standards.
能解释一下文章中的交易吗？很多看不懂，前面解释说交易机制有这种，但是还是没有解释清楚呀，我们需要理解了交易机制才能灵活运用呀