NMS Equity and Options Routing Reports (SEC 606(a) Reports) Data Glossary

Data Definitions for NMS Equity and Option Order Routing Reports (SEC 606) where the SEC Rule 606(a) order route reports that have been submitted to FINRA will be displayed.

Filters:

  • Firm:  
    • Firm name: Search for a firm name in Firm field.
    • CRD #: Search for a firm in the Firm field by their CRD number.
  • File Type: Filter for either PDF or XML SEC Rule 606(a) reports.
  • Year(s): Filter for reports that pertain to a given calendar year.
  • Quarter(s): Filter for reports that pertain to a calendar quarter.
  • Date Submitted: Filter for when SEC Rule 606(a) reports were submitted by a date range. 
 
Data fieldDefinition
YearCalendar year for which a firm submits their SEC Rule 606(a) order route report.
QuarterCalendar quarter for which a firm submits their SEC Rule 606(a) order route report.
Firm CRDThe Firm CRD number is a unique number assigned to each firm listed in the CRD or IARD system.
Firm

Name of the firm submitting the SEC Rule 606(a) report, or adopting a clearing firm’s report, for centralization in compliance with FINRA Rule 6151.  

Disclosure: As per SEC guidance, where an introducing firm routes all of its customer orders to one or more clearing firms for further routing and execution and the clearing firm in fact makes the routing decision, the introducing firm generally may comply with the Rule 606(a) order routing disclosure requirements by: (i) disclosing its relationship with the clearing firm(s) on its website, including any payment for order flow received by the introducing firm, and (ii) adopting the clearing firm’s Rule 606(a) Report by reference. In such a case, a “Disclosure” link will appear after the introducing firm’s name to a page with the details of the Clearing Firm Disclosure.

Order Routing/Clearing Firm

Indicates the type of firm submitting the SEC 606(a) report. As per SEC guidance, where an introducing firm routes all of its customer orders to one or more clearing firms for further routing and execution and the clearing firm in fact makes the routing decision, the introducing firm generally may comply with the Rule 606(a) order routing disclosure requirements by: (i) disclosing its relationship with the clearing firm(s) on its website, including any payment for order flow received by the introducing firm, and (ii) adopting the clearing firm’s Rule 606(a) Report by reference. 

 Possible values:

Self: The Firm identified in the column titled Firm is submitting the  SEC Rule 606(a) report on behalf of itself.  

Clearing Firm: Name of the clearing firm submitting a SEC Rule 606(a) report which is adopted by reference by the introducing firm mentioned in the column Firm.  

NOTE: If an introducing firm relies on more than one clearing firms’ reports, each associated clearing firm report will appear associated with the introducing firm. 

Date SubmittedDate when the SEC Rule 606(a) report was submitted to FINRA. 
Report TypeIndicator of whether the SEC Rule 606(a) report is in a PDF or XML format.   The Report Type value will provide a link to download the associated file (PDF or XML).
ContextA free form field used by firms to provide additional information in connection with the submission of multiple SEC Rule 606(a) reports (e.g., where a firm segregates activity into multiple SEC 606(a) reports this field can be used differentiate the reports by the MPID of the relevant business unit or a descriptive identifier like “Retail”/ “Institutional”).