Rule 606 requires all brokerage firms to make publicly available quarterly reports, broken down by calendar month, containing certain required statistical information regarding the routing of held, non-directed customer orders in Regulation NMS stocks, as well as both held and not held, non-directed customer orders in listed options with a market value of less than $50,000. Clear Street is publishing such quarterly reports in accordance with Rule 606(a), and will keep the report publicly available for a period of three (3) years.
The reports contain a section for Regulation NMS stocks that were included in the S&P 500 Index as of the first day of the quarter, a section for other Non-S&P 500 stocks, and a section for listed options. For each section, the report identifies the venues to which Clear Street routed the relevant orders and, for each venue, the required statistical information broken down by order type (i.e., market order, marketable limit order, non-marketable limit order and other orders). Each section of the report also contains information regarding the material aspects of Clear Street’s relationship, if any, with each venue.
The purpose of this report is to provide the public with information on how broker-dealers route orders, enable the evaluation of order routing practices, and foster competition among market participants.
Rule 606 also requiresClear Street to notify its customers of their ability to receive, free of charge, information concerning the routing of the customer’s orders for execution.In accordance with SEC Rule 606(b), upon request from a customer, Clear Street will provide a report on its handling of the customer’s orders in NMS securities that were submitted to Clear Street for execution for the prior six months. Specifically, you may request the identity of the venue to which the identified orders were routed, whether the orders were directed or non-directed and the time of any resulting transactions.
While Clear Street has carefully prepared the information presented in these reports, the data has not been audited and may contain errors.
SEC Rule 606 Reports