Payment for Order Flow. Securities which are traded in your account may be executed in more than one marketplace. Consistent with the principles of best execution and applicable regulatory requirements, you agree that we may use our discretion in selecting the routing destination. We receive payment for order flow from some market centers where your orders may be routed. We route customer orders for over-the- counter and listed equity securities to selected market makers and exchanges for execution. We consider a number of factors when determining where to send customer orders including execution speed, price improvement opportunities, the availability of efficient and reliable order handling systems, the level of service provided, and the cost of executing orders. We regularly review transactions for quality of execution, generally by measuring execution prices versus the relevant national best bid and offer. We do not receive payment for order flow for routing market and marketable limit orders. We do receive payment for order flow in the form of rebate payments up to $0.0035 per share for routing non-marketable limit orders that are subsequently executed (orders that "make" liquidity). Typically, orders that we receive from our customers are either market orders or limit orders. A market order specifies no particular price and instructs us to execute the order immediately at the best available price. A limit order is an order to buy or sell at a specific price, or better. A limit order that is immediately executable (i.e., in- line with the current market price) is handled as a marketable limit order. We route most of our market and marketable limit orders in over-the-counter and listed equity securities to selected broker-dealers that act as market maker to execute our orders, and we attempt to systematically route a greater number of these orders to market centers that consistently execute orders at prices superior to the national best bid or offer, with improvement amounts greater than that available at competing venues. Non- marketable limit orders are generally not eligible for price improvement opportunities, and we therefore attempt to systematically route these orders to exchanges and broker- dealers based on the likelihood of these orders being executed. We may receive payments from a market center for routing non-marketable limit orders, but these payments are only a factor when all other best execution factors are comparable. We route customer option orders to selec...
Payment for Order Flow. LPL does not receive any compensation in the form of payment for order flow.
Payment for Order Flow. BB&T Securities may from time to time receive payment for order flow. This compensation may be received in various manners, including, but not limited to, direct cash payments on a per share basis and rebates from various exchanges. Such payments assist in offsetting BB&T Securities’ expenses and exchange charges attendant to order execution. Absent specific instructions from customers, it is BB&T Securities’ policy to direct orders in an attempt to achieve the best execution on behalf of the customer. A number of considerations are utilized in deciding the market, exchange, and/or market maker to which BB&T Securities will direct the order. Orders are exposed across exchanges and market centers for the purpose of obtaining price improvement. If price improvement is not obtained, the order is executed at the national best bid or best offer. BB&T Securities’ foremost objective is to obtain the best executions regardless of any compensation factor. See also Section (f) under Transactions and Settlements.
Payment for Order Flow. The U.S. Securities and Exchange Commission requires that Betterment Securities disclose any arrangement for receiving payment for directing order flow. Where permitted under applicable laws and rules, Betterment Securities reserves the right to receive remuneration (generally in the form of per-share cash payments or through profit sharing arrangements) for directing orders in securities to particular broker-dealers and market centers for execution. Client understands that this remuneration, known as "payment for order flow," is considered compensation to Betterment Securities and the source and amount of any compensation received by Betterment Securities in connection with Client’s transaction will be disclosed on written request. Betterment Securities currently has no such arrangement and does not receive compensation for securities transactions executed through designated exchanges, market makers, dealers, or market centers.
Payment for Order Flow. If You transmit orders (including those generated by reinvested dividends) through NFS, NFS in turn will send my orders to various exchanges or market centers based on a number of factors. Such factors include size of order, trading characteristics of the security, favorable execution prices (including the opportunity for price improvement), access to reliable market data, speed of execution, liquidity enhancement opportunities, availability of efficient automated transaction processing, and reduced execution costs through price concessions from the market centers. Certain of the market centers may execute orders at prices superior to the publicly quoted market in accordance with their rules or practices. While a customer may specify that an order be directed to a particular market center for execution, the order-routing policies, taking into consideration all of the factors listed above, are designed to result in favorable transaction processing for customers. You will furnish payment for order flow and routing policies to me on an annual basis. You and NFS receive remuneration, compensation, or other consideration for directing customer orders for equity securities to particular broker/dealers or market centers for execution. Such consideration, if any, takes the form of financial credits, monetary payments, or reciprocal business. Note: Trades placed through telephone, electronic or on-line trading systems cannot specify a particular market center for execution.
Payment for Order Flow. Xxxxxx Xxxxxxx & Co., Inc. has consistently handled its customers’ orders with the goal of the best execution at a low cost. In all cases, we seek to direct orders so that they are executed promptly and at the best price. We monitor and compare the quality of executions to comply with both industry regulations and with our business goal of getting the best price for our customers. Xxxxxx Xxxxxxx & Co., Inc. may receive negligible payments for order flow. The various option exchanges may also pay for order flow. We shall continue to direct our option order flow to the market with the tightest spread and most volume, with the help of our agent dealers. Xxxxxx Xxxxxxx & Co., Inc. may share revenue from certain executions based upon a number of factors including, but not limited to: size of the order, the NBBO in the security at the time of execution, time of order entry, whether the order is executable at the time of entry, and whether or not an order is price improved. Xxxxxx Xxxxxxx & Co., Inc. directs a portion of our order flow to our own market-making desk. We stand to realize 100% of profits or losses generated from this order flow while acting as principal. Xxxxxx Xxxxxxx & Co., Inc. engages in proprietary trading, particularly in fixed income securities, and has procedures in place to prioritize and protect customer transactions.
Payment for Order Flow. Wealthfront routes your trades to our brokerage partner, Apex Clearing, for execution. In exchange for routing trades, we may receive monetary rebates that offset our commission cost. Wealthfront regularly reviews trade routing decisions to ensure your orders meet best execution standards. APEX CLEARING CORPORATION CUSTOMER ACCOUNT AGREEMENT This Customer Account Agreement (the “Agreement”) sets forth the respective rights and obligations of Apex Clearing Corporation (“Apex”) and the Customer’s (as defined below) brokerage firm, Wealthfront Brokerage Corporation (“Wealthfront”), and the customer(s) identified on the New Account Application (the “Customer”) in connection with the Customer’s brokerage account with Wealthfront (“the Account”). The Customer hereby agrees as follows with respect to the Account, which the Customer has established with Wealthfront for the purchase, sale or carrying of securities or contracts relating thereto and/or the borrowing of funds, which transactions are cleared through Apex. To help the government fight the funding of terrorism and money laundering, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. In order to open an account, the Customer will provide information that will allow Apex to identify the Customer including, but not limited to, the Customer’s name, address, date of birth, and the Customer’s driver’s license or other identifying documents.
Payment for Order Flow. Securities which are traded in your Account may be traded in more than one marketplace. Consistent with the principles of best execution and applicable regulatory requirements, you agree that we may use our discretion in selecting the routing destination. We route customer orders for over-the-counter and listed equity securities to selected market makers and exchanges for execution. We are not compensated directly for routing orders to market makers. However, we may receive rebates for providing liquidity to certain exchanges which are credited against the fees charged by those exchanges. We consider a number of factors when determining where to send customer orders including execution speed, price improvement opportunities, the availability of efficient and reliable order handling systems, the level of service provided, and the cost of executing orders. We regularly review transactions for quality of execution. We route customer option orders to selected broker dealers' smart routers and option exchanges for execution. In the event we receive compensation for directing orders to specific market centers for execution, such compensation may include cash payments as well as non-cash items such as discounts, rebates, reductions, or credits against fees that would otherwise be payable in full. We consider a number of factors when determining where to send customer orders including, but not limited to, price improvement opportunities, the availability of efficient and reliable order handling systems, the level of service provided, and the cost of executing orders. We regularly review transactions for quality of execution. The source and amount of any compensation received in connection with your transactions will be disclosed upon written request. Please contact an Investment Professional for further information.
Payment for Order Flow. The SEC requires that Betterment Securities disclose any arrangement for receiving payment for directing order flow. Where permitted under applicable laws and rules, Betterment Securities reserves the right to receive remuneration (generally in the form of per-share cash payments or through profit sharing arrangements) for directing orders in securities to particular broker-dealers and market centers for execution. Client understands that this remuneration, known as "payment for order flow," is considered compensation to Betterment Securities and the source and amount of any compensation received by Betterment Securities in connection with Client’s transaction will be disclosed on written request. Betterment Securities currently has no such arrangement and does not receive compensation for securities transactions executed through designated exchanges, market makers, dealers, or market centers.
Payment for Order Flow. (a) Xxxxxxx Xxxxx xxx, from time to time, receive payment for order flow. Order flow payment is compensation received as an incentive to direct transactions to various markets. This compensation is received in a number of ways, including direct cash payment ranging from a fraction of a cent to 2.5 cents per share, estimated to equal approximately $1.0 million annually. In certain instances, reduced transaction fees are provided by various exchanges. While there is no actual agreement, oral or written, Xxxxxxx Xxxxx believes that it is receiving business from specialists at various exchanges as a result of the transaction volume directed to them. Additionally, Xxxxxxx Xxxxx acts as a market maker in a number of Over-The-Counter (OTC) securities. As a result of orders directed to these various markets, trading profits or losses may be generated.
