SEC Order Execution/Routing Disclosures
Raymond James USA, LTD routes all held orders in Rule 606 reportable securities to its clearing firm, Pershing LLC. Pershing LLC. may not be the ultimate execution venue for such orders, which may be further routed to execution venues. BNYMSC does not receive any remuneration for orders routed to Pershing LLC., including any execution venue fees or rebates that may be paid by an executing venue. However, Pershing LLC may receive remuneration from executing venues through payment for order flow or other applicable execution venue fees or rebates.
Raymond James USA, LTD does not select the execution venues to which Pershing LLC. routes Rule 606 reportable securities for execution. As a result, Pershing LLC is better positioned to prepare a quarterly report that reflects any execution venue specific payment for order flow arrangements or other execution venue fees or rebates.
Please click here to view the most recent quarterly report for Pershing LLC.
Please review SEC Rule 606 - Disclosure of order Routing Practices
