Home

DATA

DATA

MEDIA CENTER

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

Data Definitions for NMS Equity and Option Order Routing Reports (SEC 606).

 
Data fieldDefinition
YearCalendar year for which a member firm submits their SEC Rule 606(a) order route report.
QuarterCalendar quarter for which a member firm submits their SEC Rule 606(a) order route report.
Firm

Name of the FINRA Member 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: Member firm is submitting a SEC Rule 606(a) report on behalf of itself

Clearing Firm: Name of the Clearing member 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) order route report was submitted to FINRA. Date is based on the New York/Eastern time zone.
Report Type Indicator of whether the SEC Rule 606(a) order route report is in a PDF or XML format. Note: Firms are obligated to submit the report in both formats.  The Report Type value will provide a link to download the associated file (PDF or XML).
ContextIf a firm wishes to segregate activity into multiple SEC 606(a) reports for a quarter, this field is an identifier provided by the member firm to differentiate the reports submitted for a specific calendar quarter. This is a free form identifier picked by the submitting member firm. This in some cases could be the MPID of the business units within the member firm submitting multiple SEC 606(a) reports or a descriptive identifier like “Retail”/ “Institutional”.