SEC Rule 606 Disclosure
Whereas SecondMarket, Inc.:
Has provided these reports pursuant to U.S Securities and Exchange Commission Rule 606 which requires broker-dealer firms to make publicly available quarterly reports on their routing practices. Has contracted with Penson Financial Services, Inc. (as our primary clearing broker). Has no routing capability to the clearing broker for non-directed orders. As such, we have provided the required SEC Rule 606 order routing statistics for our clearing broker.
Please click on the hyperlink below to view the latest report(s) that provide information on the routing of “non-directed orders”. A non-directed order is defined as any order that the customer has not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, the clearing broker has the discretion to select the execution venue on behalf of its customers.
SEC Rule 606 Report