Customer Requests for Routing Information

What this video covers

• How the private customer-request disclosure differs from the public quarterly report, including why the request disclosure covers both directed and non-directed orders
• How to apply the six-month lookback and identify the three order categories covered by the basic routing disclosure
• When a customer can request a not-held order handling report, and how the seven-business-day delivery deadline works
• Why all child orders derived from a not-held parent order must be included, along with the prior six calendar months broken down by month
• How the report is organized into order routing, order execution, liquidity-providing orders, and liquidity-removing orders, including Immediate or Cancel (IOC) shares and four-decimal fee and rebate figures
• What an actionable Indication of Interest (IOI) reveals, including the venue that must be named and the other customers whose identities do not have to be disclosed
• How to apply the firm-level 5% threshold, the first-crossing and subsequent-crossing timing rules, the six-calendar-month compliance period, and the independent $1 million customer-level threshold