Disclosure of Order Routing Information
U.S. Securities and Exchange Commission (SEC) Rule 606(a) requires all brokerage firms to make publicly available quarterly reports, broken down by calendar month, containing certain required statistical information regarding the routing of held, non-directed customer orders in Regulation NMS stocks, as well as both held and not held, non-directed customer orders in listed options with a market value of less than $50,000.
The report contains a section for Regulation NMS stocks (separated by securities that are included in the S&P 500 Index as of the first day of the quarter and other Non-S&P 500 stocks) and a separate section for listed options. For each section, the report identifies the venues to which the relevant orders were routed and, for each venue, the required statistical information broken down by order type (i.e., market order, marketable limit order, non-marketable limit order and other orders).
All held orders are routed to WestPark’s Clearing Firm AXOS Clearing. WestPark does not receive payment from AXOS Clearing for order flow.
As an introducing broker-dealer, WestPark utilizes the trade execution services of its clearing firm, AXOS Clearing whose order routing statistics are viewable by clicking on the link below.
For more information regarding the quarterly reports required by SEC Rule 606(a), and other aspects of SEC Rule 606, you may review the final rule here: https://www.sec.gov/rules/final/2018/34-84528.pdf
Routing Disclosure Rule 606
Historical Disclosure Rule 606
