Disclosure of SEC Required Order Execution and Order Routing Information
Report of Raymond James & Associates, Inc. with respect to orders in National Market System securities
Absent specific routing instructions from the customer, Raymond James & Associates, Inc. (RJA) policy is to route orders to the market center or designated broker/dealer intermediary where it believes that the customer receives the best execution, based on a number of factors. The potential for receipt of order flow payment or trading profits is not a factor in this decision. RJA believes, based on prior experience, that RJA’s order routing practice provides opportunity for the orders to be executed at prices at or better than national best bid or best offer.
RJA trades National Market System securities as a market-maker in the over-the-counter market. Pursuant to Rule 605 adopted by the Securities and Exchange Commission, RJA is presenting certain information with respect to orders executed as market maker in the over-the-counter market during the preceding month. You can obtain this information by accessing the link below.
For information regarding RJA’s Nasdaq Principal Trading operation please refer to: www.sungard.com/valdicompliance and select the downloadable Raymond James and Associates file.
The SEC requires that the disclosure of a market center’s order execution information be made available in an electronic data file, standard, pipe delimited, ASCII format and compressed using standard ZIP compression.
To effectively download and open RJA’s order execution information, installation of a zip utility program such as WinZip (www.winzip.com) will be required.
To help you understand this information, please refer to the sample data available on the SEC website at www.sec.gov/interps/legal/slbim12b.htm.
Raymond James & Associates, Inc. (RJA) also acts in an agency capacity for client orders in equity and option securities. Pursuant to Rule 606 adopted by the Securities and Exchange Commission, RJA is presenting certain information with respect to order routing practices by the firm during the preceding three months. You can obtain this information by accessing the link below.
If you have any questions regarding this information for listed (exchange-traded) or OTC-traded securities, you may contact Tom Lombardi at 212-856-4386.
To view historic order routing summary data for Howe Barnes Hoefer & Arnett please refer here and select Howe Barnes Hoefer & Arnett.
For information regarding Howe Barnes Hoefer & Arnett’s Nasdaq Principal Trading operation please refer here and select the downloadable Howe Barnes Hoefer & Arnett file.