Where can I see the SEC rule 606 reports for registered B/D?

Discussion in 'Prop Firms' started by ronin266, Jun 13, 2012.

  1. I was trying to find some Rule 606 reports of a couple of B/D, but couldn´t accomplish it. Is there an official site where I can check those reports?

  2. zdreg



    SEC Rule 606 (formerly Rule 11Ac1-6)

    SEC Rule 606 ("Rule") requires all broker-dealers that route orders in equity and option securities to make available quarterly reports that present a general overview of their routing practices. The reports must identify the significant venues to which customer orders were routed for execution during the applicable quarter and disclose the material aspects of the broker-dealer's relationship with such venues. In addition, the Rule requires broker-dealers to disclose, on customer request, the venues to which the customer's individual orders were routed.

    In addition, broker-dealers must respond to customer requests for individual information on customer orders that were routed for execution in the six months prior to the request, whether the orders were directed or non-directed, and the time of the transactions, if any, that resulted from such orders.

    Quarterly report as of 03/31/12
  3. Lol I know what it is, I wanna know where to find it for another brokers, not Valic lol

  4. zdreg


    just google the name of the brokerage firm and rule 606.
  5. LOL ok, try to find the report of BT, HB, WTS or Echo, there is nothing there
  6. Those firms might have had fewer than 500 customer orders in the month so the rule wouldn't apply under the de minimis exemption. Traders at prop firms aren't customers.
  7. We clear with Goldman, and here is GS:


    All orders to to GS, then to market centers. And, since we don't "internalize or sell order flow" we are exempt from all this. We can choose the destinations of course, but still through GS.

    You can also search Thomson:


    And/or go to your specific Clearing Firm.

  8. gtgtgt3


    You are confused about what the report is. It is intended for a retail BD who routes your orders to market making firms in exchange for payment (payment for order flow). The vast majority of proprietary trading firms that use direct market access allow the traders to choose this and thus would be exempt since this does not apply.

  9. That's pretty much what I was told by my Compliance as well. I'm sorry it took a day or so for me to double check all this.

  10. If your firm doesn't have any customer accounts then you would have fewer than 501 customer orders each month so would be exempt from the rule.
    #10     Jun 14, 2012