SEC-Required Rule 606 – Report on Routing of Customer Orders
APEX Clearing Corporation (APEX) has prepared this report pursuant to a U.S. Securities and Exchange Commission rule requiring all brokerage firms to make available to the public quarterly reports about their order routing practices. The report provides information on the routing of “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, APEX has selected the execution venue on behalf of its customers. The report is divided into four sections:
- New York Stock Exchange listed securities
- Nasdaq Stock Market listed securities
- NYSE MKT Exchange and regional exchanges listed securities
- Exchange listed options
For each section, this report identifies the venues most often selected by APEX, sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of APEX’s relationship with the venues.
This report was prepared by S3, a third party market surveillance and auditing firm. Questions regarding this report should be addressed to the APEX Compliance Department at (800) 696-3585.
A written copy of this report will be furnished upon request. In addition, information regarding the specific routing or any orders executed for your account for the previous six months will be furnished upon request. Please contact the representative handling your account.
Order Flow Payment Information: Apex Clearing Corporation receives payment for order flow on certain transactions in the form of monetary and/or non-monetary compensation or an inter-company transfer of funds. Payment for order flow is considered to be compensation to Apex Clearing Corporation 1DB, an introducing firm that clears its trades through Apex Clearing Corporation, shares in such payments or directly receives payment for order flow for certain transactions, in addition to commission or markup/markdowns paid by its customers. The source and nature of any compensation received in connection with a specific transaction will be furnished upon written request from the customer. Current quarterly routing information can be found on the Apex Clearing Corporation website at: Quarterly Order Routing.