SEC Rule 11AC1-3 and Rule 606 (formerly known as Rule 11AC1-6)
Lucia Securities, LLC (LSL) may route client orders for execution to our clearing firm, RBC Correspondent Services (“RBC CS”); market centers; or by using automated order entry systems on primary exchanges. These market centers may include dealers who are registered market makers in securities. LSL may be compensated for routing orders to dealers or may receive credits for exchange transaction fees from using automated order entry systems. However, LSL does not receive remuneration for directing equity order flow at this time. Order routing decisions may be based on the size of the order, an opportunity for price improvement, and/or quality of order executions. All orders are intended to be executed in compliance with best execution.
RBC CS has provided information pursuant to SEC Rule 11AC1-3 and Rule 606 (formerly known as Rule 11AC1-6) that requires firms to make publicly available quarterly reports on the firm’s order routing practices. The report provides information on the routing of “non-directed orders” which is generally defined as any order that the client has not specifically instructed to be routed to a particular venue for execution.
For these non-directed orders, RBC CS has selected the execution venue on behalf of its clients.
The report is divided into four sections: one for securities listed on the New York Stock Exchange, one for securities listed on The Nasdaq Stock Market, one for securities listed on the American Stock Exchange or regional exchanges, and one for exchange-listed options.
For each section, this report identifies the venues most often selected by RBC CS, sets forth the percentage of various types of orders routed to the venues, and discusses RBC CS “Payment for Order Flow and Routing of Customer Order Disclosure Statement”.
LSL will provide the order routing details upon written request for orders executed six months prior. To obtain a copy of our quarterly routing report, please contact the Lucia Securities Trading Department at 800-644-1150.
The firm’s order-handling statistics are available at http://external.s3.com/rule606/rbcwm. For historical information, visit http://www.tagaudit.com/do/display?page=Rule606::Report. When you click on these links, you will be leaving the Lucia Securities, LLC site.