۶Ƶ Financial Services Inc. (“۶ƵFS”) 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, “non-directed orders” – any order that the customer has not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, ۶ƵFS 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 ۶ƵFS, sets forth the percentage of various types of non-directed orders routed to these venues and discusses the material aspects of ۶ƵFS’s relationship, if any, with these venues.
۶ƵFS’s SEC Rule 606 report can be found at
Payment for Order Flow:
Payment for Order Flow:
۶ƵFS does not accept payment for order flow from other broker-dealers. ۶ƵFS may receive payment in the form of rebates from certain exchanges. These payments generally offset fees for accessing orders or for other services provided by exchanges. From time to time, the amount of rebates ۶ƵFS receives from an exchange may exceed the amount of fees that ۶ƵFS is charged by such exchange. In these limited circumstances, the receipt of net payments from an exchange would be considered payment for order flow. ۶ƵFS 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 ۶ƵFS 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 ۶ƵFS; (iii) if received, are de minimus; and (iv) do not influence ۶ƵFS’s order routing practices, which are determined by ۶ƵFS’s duty of best execution. ۶ƵFS 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 ۶ƵFS may receive.
You may visit the following link for more information on SEC Rule 606 /us/en/wealth-management.html, Best Execution Statement
and interpretative frequently asked questions
If you have any questions regarding the routing of a specific order, please contact your Financial Advisor.