Order Routing and Payment for Order Flow Disclosures
Payment For Order Flow Disclosure:
Pursuant to federal securities
regulations, Credence Global Bank Invest is required to disclose at the time your account is opened,
and annually thereafter, our payment for order flow practices. Credence Global Bank Invest routes
your equity orders to broker-dealers or market centers (i.e., primary exchanges or
electronic communication networks ("ECN")) for execution. These broker-dealers and
market centers may include dealers who make markets in these securities. Credence Global Bank Invest
may receive compensation for routing equity orders to dealers. In exchange for
routing your equity orders to certain market centers, we may receive monetary
rebates per executed share for equity orders that add liquidity to its book and/or
rebates for aggregate exchange fees. The rebates are considered payment for order
flow even though it may not necessarily offset our aggregate payments for removing
liquidity.
Credence Global Bank Invest may receive payment for routing your options orders to designated broker-dealers or market centers for execution. Compensation is in the form of a per contract cash payment. Order routing decisions are based on a number of factors including the size of the order, the opportunity for price improvement and the quality of order executions. However, Credence Global Bank Invest regularly reviews routing decisions and market centers to ensure that your orders meet our duty of best execution.
Order Routing Practices:
The U.S. Securities and Exchange
Commission’s Rule SEC Rule 606 requires all broker-dealers (including introducing
firms) that route customer orders in equity and option securities to make publicly
available quarterly reports that, among other things, identify the venues to which
customer orders are routed for execution and also disclose the material aspects of
the broker-dealer's relationship with such venues. This information is available on
our website, or in written form upon customer request. Please download the most
current summary of Credence Global Bank Invest's order routing activity by clicking on the following
link:
Credence Global Bank Invest Securities - Rule 606 – Order routing report – 3rd Quarter 2019
Questions regarding this report should be addressed to the Credence Global Bank Invest Customer Service Department.
Order Handling Disclosure:
SEC Section 606(b)(3) provides that,
upon request, Credence Global Bank Invest Securities disclose within seven business days to each
client that places one or more orders in NMS stocks a report identifying certain
details regarding that client’s orders entered within the prior six months. If you
would like to receive SEC Rule 606(b)(3) information related to the orders you
placed at Credence Global Bank Invest Securities, please contact Credence Global Bank Invest Customer Service and
request a SEC Rule 606(b)(3) report at Support@invest.credenceinc.org
Updated 10/2019