斗牛棋牌在线 Financial Services Inc. (鈥湺放F迮圃谙逨S鈥) has prepared this report pursuant to a U.S. Securities and Exchange Commission rule requiring all brokerage firms to make publicly available quarterly reports on their order routing practices. The report provides information on the routing of held, 鈥渘on-directed orders鈥 鈥 any order that the customer has not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, 斗牛棋牌在线FS has selected the execution venue on behalf of its customers.
The report is divided into 3 sections: (1) NMS stocks that are included in the S&P 500 Index; (2) NMS stocks that are not included in the S&P 500 Index; and (3) NMS securities that are options. For each section, the report identifies the venues most often selected by 斗牛棋牌在线FS, sets forth the percentage of various types of non-directed orders routed to these venues and discusses the material aspects of 斗牛棋牌在线FS鈥檚 relationship, if any, with these venues.
斗牛棋牌在线FS鈥檚 SEC Rule 606 report can be found at聽
Payment for Order Flow:
Payment for Order Flow:
斗牛棋牌在线FS does not accept payment for order flow from other broker-dealers.听 斗牛棋牌在线FS may receive payment in the form of rebates from certain exchanges.听 These payments generally offset fees for accessing orders or for other services provided by exchanges.听 From time to time, the amount of rebates 斗牛棋牌在线FS receives from an exchange may exceed the amount of fees that 斗牛棋牌在线FS is charged by such exchange.听 In these limited circumstances, the receipt of net payments from an exchange would be considered payment for order flow.听 斗牛棋牌在线FS does not base equities or options order routing decisions on the receipt of payment for order flow or any other order routing inducements. To the extent that any exchange provides 斗牛棋牌在线FS with a rebate or similar payment, such payments: (i) are provided according to exchange fee schedules and rules approved by the SEC; (ii) are not actively solicited or sought after by 斗牛棋牌在线FS; (iii) if received, are de minimus; and (iv) do not influence 斗牛棋牌在线FS鈥檚 order routing practices, which are determined by聽 斗牛棋牌在线FS鈥檚 duty of best execution.听 斗牛棋牌在线FS effectively manages this potentialconflict of interest by (i) providing customer disclosures regarding its payment for order flow practices; (ii)not seeking out or negotiating payments for order flow; and (iii) making order routing determinations wholly independently from any rebates or similar payments that 斗牛棋牌在线FS may receive.
You may visit the聽 following link聽for more information on SEC Rule 606 /us/en/wealth-management.html听, Best Execution Statement聽and interpretative frequently asked questions
If you have any questions regarding the routing of a specific order, please contact your Financial Advisor.