For the Most Recent Available Quarter
William O’Neil Securities is presenting this information pursuant to the U.S. Securities and Exchange Commission Rule 11Ac1-6 requiring all brokerage firms to make publicly available quarterly reports that present a general overview of their order routing practices. The report provides information on the routing of “non-directed orders” — any order that the customer has not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, William O’Neil Securities has selected the execution venue on behalf of its customers in compliance with best execution practices.
The report is divided into the following sections: New York Stock Exchange listed securities, stocks listed on The NASDAQ Stock Market, and American Stock Exchange or regional exchange listed securities. The information is further divided into three categories: Market, Limit, and Other. As outlined by the SEC in guidance to brokerage firms, “market-not-held” orders fall under the “Other” category, as would short sale orders. While William O’Neil Securities deals exclusively with institutional clients whose orders are not-held, limit orders are segregated for this report and fall under the “Limit” category. For each section, the report identifies the significant venues to which customer orders were routed for execution during the most recent quarter available, and discloses that William O’Neil Securities (ONS) has no payment for order flow relationship with any broker-dealers or third-party execution providers. However, ONS routes orders to market centers, including national securities exchanges, alternative trading systems, and electronic communications networks that may offer credits for orders that provide liquidity and may assess fees for orders that take liquidity. Routing decisions for an order are based upon ONS’ responsibility of seeking to provide best execution to clients.
In accordance with the Rule, these reports will be posted on this Web site, which is publicly available, within one month following the end of the previous quarter. In addition, a printed copy of this quarterly report will be furnished upon request.
Click here for the our historical order routing reports. Click here for the most recent order routing report.
In addition, upon written request, ONS will provide:
- The venue to which the order was routed for execution at any time six months prior to the request;
- Whether the order was directed or non-directed; and
- The time of the execution that resulted from such order.
