Nomura Securities International, Inc. | Disclosure of Order Routing Information - SEC Rule 606

Disclosure of Order Routing Information

In accordance with Securities and Exchange Commission ("SEC") requirements, Nomura Securities International, Inc. ("NSI"), is publishing statistical information about its routing of certain customer orders in NMS Securities and Listed Options. SEC rules require all registered broker-dealers that route orders in certain equity and option securities to make publicly available quarterly reports that present a general overview of a firm's non-directed order routing practices. Please note that, based on the SEC's requirements, these statistics capture only a portion of NSI's order flow.

These statistics are intended to provide only an overview of NSI's order routing practices. Accordingly, the statistics do not create a reliable basis on which to assess whether NSI or any other trading venue has satisfied its duty of best execution. NSI has made every attempt to provide these statistics in compliance with SEC Rules, however, errors may occur or certain system outages may cause the data to be incorrect or incomplete.

For further information on SEC Rule 606, you may visit the SEC website.

https://www.sec.gov/tm/faq-rule-606-regulation-nms

https://www.sec.gov/news/press-release/2018-253

Payment for Order Flow Disclosure:

NSI routes the majority of customer orders in equity securities, including options, to Instinet, an affiliated broker-dealer, for execution. Instinet routes NSI's orders to national securities exchanges, alternative trading systems, and other market centers. In exchange for routing equity orders to certain market centers, Instinet may receive monetary rebates per executed share for equity orders that add liquidity to its book and/or rebates for aggregate exchange fees. Instinet passes along to NSI the economic benefits of any rebates received that are related to NSI's orders. The rebates are considered payment for order flow even though they may not necessarily offset NSI's aggregate payments for removing liquidity. Instinet also passes along any fees or rebates directly attributable to Nomura (for example, CBOE Large Trade Discounts). In this regard, in any given month, the 'credits' received by NSI from a given market center may exceed the 'debits' charged to NSI for such period. For additional information regarding Instinet's order routing practices and payments that may be received by Instinet, please see Instinet's Rule 606 report, available at: https://www.instinet.com/order-disclosures

NSI may occasionally route customer orders in equity securities, including options, to Dash Financial for execution. On a monthly basis, Dash Financial provides 100% of the credits/rebates provided to Dash Financial by the exchanges to NSI. These credits/rebates are provided to NSI primarily for adding liquidity to the exchanges and may also be provided for taking liquidity.

Ownership Interests in US Equity/Option Exchanges or Other Routing Venues:

NSI does not hold any investments in any of the US equity or option exchanges. However, since certain of these venues are publicly held institutions whose securities trade on a national securities exchange, NSI may, through the normal course of business, purchase and sell shares in these venues. With respect to routing venues, Instinet, Inc., which NSI may use as a routing venue from time to time, is an affiliate of NSI.

Nomura - Held NMS Stocks and Options Order Routing Public Report

October 2022

S&P 500 Stocks

Summary

* Please scroll horizontally to look at table below.

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
0.00 0.00 0.00 0.00 0.00

Venues

* Please scroll horizontally to look at table below.

Venue - Non-Directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders (Cents per Hundred Shares) Net Payment Paid/Received for Marketable Limit Orders (USD) Net Payment Paid/Received for Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(Cents per Hundred Shares)

Material Aspects:

-----

Non-S&P 500 Stocks

Summary

* Please scroll horizontally to look at table below.

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
0.00 0.00 0.00 0.00 0.00

Venues

* Please scroll horizontally to look at table below.

Venue - Non-Directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders (Cents per Hundred Shares) Net Payment Paid/Received for Marketable Limit Orders (USD) Net Payment Paid/Received for Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(Cents per Hundred Shares)

Material Aspects:

-----

Options

Summary

* Please scroll horizontally to look at table below.

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 3.94 76.19 11.21 8.66

Venues

* Please scroll horizontally to look at table below.

Venue - Non-Directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders (Cents per Hundred Shares) Net Payment Paid/Received for Marketable Limit Orders (USD) Net Payment Paid/Received for Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(Cents per Hundred Shares)
INSTINET 81.89 1.56 92.80 96.43 3.56 4.48 31.9874 -31,267.82 -9.3629 5,250.22 11.5283 -162.08 -15.1472
CASY 13.28 54.69 4.33 0.27 90.04 -12,253.82 -12.5759 -7,430.55 -10.6331 -30.68 -15.3400 -23,011.35 -11.5281
ICAP 3.91 36.72 2.26 1.65 6.41 -5,229.2 -7.8400 -3,841.21 -7.8400 -194.82 -7.8400 -1,062.79 -7.8400
Pyramid 0.34 2.34 0.20 0.82 0.00 -1,008.55 -65.4900 -516.02 -59.8635 -334 -65.4900 0 0.0000
XFA 0.18 1.56 0.08 0.55 0.00 -374.01 -71.2400 -28.5 -71.2400 -28.5 -71.2400 0 0.0000
Lakeshore 0.12 1.56 0.08 0.00 0.00 -798.8 -39.9400 -998.8 -49.9400 0 0.0000 0 0.0000
MACRO RISK ADVISORS LLC 0.09 0.00 0.12 0.00 0.00 0 0.0000 -1,071 -42.8400 0 0.0000 0 0.0000
DYNAMEX TRADING, LLC 0.06 1.56 0.00 0.00 0.00 -1,892 -37.8400 0 0.0000 0 0.0000 0 0.0000
GFI Securities LLC 0.06 0.00 0.04 0.27 0.00 0 0.0000 -22.74 -7.8400 -99.39 -34.2732 0 0.0000
MAXIM 0.03 0.00 0.04 0.00 0.00 0 0.0000 -5.78 -57.8400 0 0.0000 0 0.0000
TULLETT PREBON FINANCIAL SERVICES LLC 0.00 0.00 0.00 0.00 0.00 0 0.0000 -13.6 -28.3400 0 0.0000 0 0.0000

Material Aspects:

INSTINET:
NSI routes the majority of customer orders in equity securities, including options, to Instinet, an affiliated broker-dealer, for execution. Instinet routes NSI’s orders to national securities exchanges, alternative trading systems, and other market centers. NSI maintains a pass-through relationship with Instinet, whereby Instinet charges or remits payment to NSI based partially on the amount of the rebates received from, or fees paid to, market centers. Instinet passes 50% of marketing fees received from market makers preferred on customer orders routed to exchanges. Instinet and NSI do not maintain any other payment for order flow arrangements with respect to listed options. Instinet pays or charges NSI based on the published exchange schedule for customer orders, and not based on any more favorable pricing that Instinet may receive as a result of other aggregated order flow. Information reflecting tiered pricing/payment schedules, as applicable to NSI, can be found at: https://www.nomuraholdings.com/company/group/americas/data/2022_4q_rates.pdf

CASY:
No material aspects to disclose

ICAP:
No material aspects to disclose

Pyramid:
No material aspects to disclose

XFA:
No material aspects to disclose

Lakeshore:
No material aspects to disclose

MACRO RISK ADVISORS LLC:
No material aspects to disclose

DYNAMEX TRADING, LLC:
No material aspects to disclose

GFI Securities LLC:
No material aspects to disclose

MAXIM:
No material aspects to disclose

TULLETT PREBON FINANCIAL SERVICES LLC:
No material aspects to disclose

November 2022

S&P 500 Stocks

Summary

* Please scroll horizontally to look at table below.

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
0.00 0.00 0.00 0.00 0.00

Venues

* Please scroll horizontally to look at table below.

Venue - Non-Directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders (Cents per Hundred Shares) Net Payment Paid/Received for Marketable Limit Orders (USD) Net Payment Paid/Received for Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(Cents per Hundred Shares)

Material Aspects:

-----

Non-S&P 500 Stocks

Summary

* Please scroll horizontally to look at table below.

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
0.00 0.00 0.00 0.00 0.00

Venues

* Please scroll horizontally to look at table below.

Venue - Non-Directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders (Cents per Hundred Shares) Net Payment Paid/Received for Marketable Limit Orders (USD) Net Payment Paid/Received for Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(Cents per Hundred Shares)

Material Aspects:

-----

Options

Summary

* Please scroll horizontally to look at table below.

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 2.63 81.32 11.47 4.58

Venues

* Please scroll horizontally to look at table below.

Venue - Non-Directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders (Cents per Hundred Shares) Net Payment Paid/Received for Marketable Limit Orders (USD) Net Payment Paid/Received for Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(Cents per Hundred Shares)
INSTINET 86.46 0.00 93.10 92.11 4.07 0 0.0000 -30,183.58 -7.7728 2,790.19 7.2857 -63 -6.0000
CASY 8.09 47.47 2.88 2.32 92.44 -14,175.54 -13.7394 -7,632.8 -11.2283 -608.98 -8.9412 -1,508.69 -12.4397
ICAP 3.33 45.45 2.36 1.16 1.74 -10,999.28 -7.8400 -5,892.07 -7.8400 -1,298.23 -7.8400 -91.96 -7.8400
Pyramid 1.17 2.02 1.24 0.93 0.00 -3.2 -53.3650 -1,050.54 -58.6892 -108.71 -65.4900 0 0.0000
GFI Securities LLC 0.59 1.01 0.23 2.55 1.74 -125.44 -7.8400 -2,006.09 -20.7885 -4,985.9 -31.4965 -752.15 -22.1872
TULLETT PREBON FINANCIAL SERVICES LLC 0.16 2.02 0.07 0.46 0.00 -574.4 -57.4400 -6,300.8 -52.5067 -6,022.4 -54.7491 0 0.0000
MAXIM 0.08 0.00 0.07 0.23 0.00 0 0.0000 -13.17 -7.8400 -15.29 -7.8400 0 0.0000
Baycrest 0.05 2.02 0.00 0.00 0.00 -252.24 -63.0604 0 0.0000 0 0.0000 0 0.0000
XFA 0.05 0.00 0.07 0.00 0.00 0 0.0000 -50.58 -71.2400 0 0.0000 0 0.0000
Lakeshore 0.03 0.00 0.00 0.23 0.00 0 0.0000 0 0.0000 -499.25 -39.9400 0 0.0000

Material Aspects:

INSTINET:
NSI routes the majority of customer orders in equity securities, including options, to Instinet, an affiliated broker-dealer, for execution. Instinet routes NSI’s orders to national securities exchanges, alternative trading systems, and other market centers. NSI maintains a pass-through relationship with Instinet, whereby Instinet charges or remits payment to NSI based partially on the amount of the rebates received from, or fees paid to, market centers. Instinet passes 50% of marketing fees received from market makers preferred on customer orders routed to exchanges. Instinet and NSI do not maintain any other payment for order flow arrangements with respect to listed options. Instinet pays or charges NSI based on the published exchange schedule for customer orders, and not based on any more favorable pricing that Instinet may receive as a result of other aggregated order flow. Information reflecting tiered pricing/payment schedules, as applicable to NSI, can be found at: https://www.nomuraholdings.com/company/group/americas/data/2022_4q_rates.pdf

CASY:
No material aspects to disclose

ICAP:
No material aspects to disclose

Pyramid:
No material aspects to disclose

GFI Securities LLC:
No material aspects to disclose

TULLETT PREBON FINANCIAL SERVICES LLC:
No material aspects to disclose

MAXIM:
No material aspects to disclose

Baycrest:
No material aspects to disclose

XFA:
No material aspects to disclose

Lakeshore:
No material aspects to disclose

December 2022

S&P 500 Stocks

Summary

* Please scroll horizontally to look at table below.

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
0.00 0.00 0.00 0.00 0.00

Venues

* Please scroll horizontally to look at table below.

Venue - Non-Directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders (Cents per Hundred Shares) Net Payment Paid/Received for Marketable Limit Orders (USD) Net Payment Paid/Received for Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(Cents per Hundred Shares)

Material Aspects:

-----

Non-S&P 500 Stocks

Summary

* Please scroll horizontally to look at table below.

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
0.00 0.00 0.00 0.00 0.00

Venues

* Please scroll horizontally to look at table below.

Venue - Non-Directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders (Cents per Hundred Shares) Net Payment Paid/Received for Marketable Limit Orders (USD) Net Payment Paid/Received for Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(Cents per Hundred Shares)

Material Aspects:

-----

Options

Summary

* Please scroll horizontally to look at table below.

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 3.98 78.47 15.14 2.41

Venues

* Please scroll horizontally to look at table below.

Venue - Non-Directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders (Cents per Hundred Shares) Net Payment Paid/Received for Marketable Limit Orders (USD) Net Payment Paid/Received for Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders (Cents per Hundred Shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(Cents per Hundred Shares)
INSTINET 88.78 0.00 93.10 96.77 44.59 0 0.0000 -35,719.4 -10.1033 -1,262.75 -3.9534 233.02 5.8342
CASY 5.45 56.56 3.12 0.22 29.73 -10,254.96 -12.8571 -4,726.34 -10.8932 -21.72 -7.8400 -1,049.15 -12.5257
ICAP 4.21 37.70 3.04 1.08 6.76 -4,758.17 -7.8400 -5,634.92 -7.8400 -1,314.22 -7.8400 -132.5 -7.8400
Pyramid 0.88 3.28 0.29 0.65 17.57 -739.39 -62.7133 -144.2 -56.5508 -88.49 -61.4483 -249.11 -60.7583
GFI Securities LLC 0.20 0.00 0.08 0.86 0.00 0 0.0000 -824.8 -41.2400 -3,531.73 -58.8621 0 0.0000
TRADITION SECURITIES AND DERIVATIVES INC. 0.13 1.64 0.04 0.22 0.00 -1,435.2 -47.8400 -2,870.4 -47.8400 -117.6 -7.8400 0 0.0000
XFA 0.13 0.00 0.12 0.22 0.00 0 0.0000 -1,004.48 -71.2400 -7.12 -71.2400 0 0.0000
TULLETT PREBON FINANCIAL SERVICES LLC 0.10 0.82 0.04 0.00 1.35 -459.52 -57.4400 -349.4 -34.9400 0 0.0000 -287.2 -57.4400
Baycrest 0.03 0.00 0.04 0.00 0.00 0 0.0000 -873.5 -34.9400 0 0.0000 0 0.0000
CANACCORD GENUITY INC. 0.03 0.00 0.04 0.00 0.00 0 0.0000 -231.54 -46.3074 0 0.0000 0 0.0000
MAXIM 0.00 0.00 0.00 0.00 0.00 0 0.0000 -0.78 -7.8400 0 0.0000 0 0.0000

Material Aspects:

INSTINET:
NSI routes the majority of customer orders in equity securities, including options, to Instinet, an affiliated broker-dealer, for execution. Instinet routes NSI’s orders to national securities exchanges, alternative trading systems, and other market centers. NSI maintains a pass-through relationship with Instinet, whereby Instinet charges or remits payment to NSI based partially on the amount of the rebates received from, or fees paid to, market centers. Instinet passes 50% of marketing fees received from market makers preferred on customer orders routed to exchanges. Instinet and NSI do not maintain any other payment for order flow arrangements with respect to listed options. Instinet pays or charges NSI based on the published exchange schedule for customer orders, and not based on any more favorable pricing that Instinet may receive as a result of other aggregated order flow. Information reflecting tiered pricing/payment schedules, as applicable to NSI, can be found at: https://www.nomuraholdings.com/company/group/americas/data/2022_4q_rates.pdf

CASY:
No material aspects to disclose

ICAP:
No material aspects to disclose

Pyramid:
No material aspects to disclose

GFI Securities LLC:
No material aspects to disclose

TRADITION SECURITIES AND DERIVATIVES INC.:
No material aspects to disclose

XFA:
No material aspects to disclose

TULLETT PREBON FINANCIAL SERVICES LLC:
No material aspects to disclose

Baycrest:
No material aspects to disclose

CANACCORD GENUITY INC.:
No material aspects to disclose

MAXIM:
No material aspects to disclose

Previous Reports

    PDF XML
2022
Q4 (Oct-Dec) PDF
(79KB)
XML
(102KB)
Q3 (Jul-Sep) PDF
(80KB)
XML
(38KB)
Q2 (Apr-Jun) PDF
(1.257KB)
XML
(33KB)
Q1 (Jan-Mar) PDF
(67KB)
XML
(32KB)
2021
Q4 (Oct-Dec) PDF
(66KB)
XML
(33KB)
Q3 (Jul-Sep) PDF
(66KB)
XML
(33KB)
Q2 (Apr-Jun) PDF
(59KB)
XML
(33KB)
Q1 (Jan-Mar) PDF
(61KB)
XML
(37KB)
2020
Q4 (Oct-Dec) PDF
(58KB)
XML
(33KB)
Q3 (Jul-Sep) PDF
(52KB)
XML
(33KB)
Q2 (Apr-Jun) PDF
(58KB)
XML
(33KB)
Q1 (Jan-Mar) PDF
(50KB)
XML
(34KB)
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