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.
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
July 2021
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 | 3.89 | 14.24 | 6.99 | 74.88 |
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 | 85.76 | 0.88 | 14.45 | 7.47 | 77.20 | 438.33 | 32.4685 | 3,639.82 | 5.7318 | -1,170.78 | -6.6730 | 14,819.77 | 6.4411 |
| ICAP | 5.23 | 32.62 | 10.70 | 2.14 | 54.55 | 10,334.54 | 12.0846 | 1,286.29 | 12.0846 | 100.91 | 12.0846 | 9,748.79 | 12.0846 |
| CASY | 3.13 | 19.64 | 16.96 | 0.00 | 63.39 | 3,370.15 | 14.0330 | 1,541.86 | 15.4806 | 0 | 0.0000 | 13,921.62 | 15.0709 |
| Pyramid | 2.18 | 24.36 | 20.51 | 12.82 | 42.31 | 610.71 | 65.3862 | 1,565.17 | 63.5217 | 773.24 | 47.2063 | 1,026 | 56.2500 |
| MAXIM | 1.76 | 0.00 | 9.52 | 9.52 | 80.95 | 0 | 0.0000 | 169.47 | 57.8400 | 169.47 | 57.8400 | 5,114.79 | 57.8400 |
| Lakeshore | 0.67 | 0.00 | 4.17 | 0.00 | 95.83 | 0 | 0.0000 | 54.94 | 54.9400 | 0 | 0.0000 | 697.54 | 54.7516 |
| DASH FINANCIAL LLC | 0.39 | 0.00 | 14.29 | 0.00 | 85.71 | 0 | 0.0000 | 40.52 | 20.2600 | 0 | 0.0000 | 287.49 | 20.2600 |
| TULLETT PREBON FINANCIAL SERVICES LLC | 0.39 | 42.86 | 0.00 | 0.00 | 57.14 | 1,340 | 21.4400 | 0 | 0.0000 | 0 | 0.0000 | 7,223.41 | 53.0353 |
| CANACCORD GENUITY INC. | 0.14 | 0.00 | 0.00 | 0.00 | 100.00 | 0 | 0.0000 | 0 | 0.0000 | 0 | 0.0000 | 2,884.78 | 33.6104 |
| TRADITION SECURITIES AND DERIVATIVES INC. | 0.11 | 50.00 | 25.00 | 0.00 | 25.00 | 784 | 7.8400 | 498.68 | 71.2400 | 0 | 0.0000 | 1,498.8 | 74.9400 |
Material Aspects:
INSTINET:
Nomura Receives Rebates From Instinet
ICAP:
No Material Aspects to Disclose
CASY:
No Material Aspects to Disclose
Pyramid:
No Material Aspects to Disclose
MAXIM:
No Material Aspects to Disclose
Lakeshore:
No Material Aspects to Disclose
DASH FINANCIAL LLC:
No Material Aspects to Disclose
TULLETT PREBON FINANCIAL SERVICES LLC:
No Material Aspects to Disclose
CANACCORD GENUITY INC.:
No Material Aspects to Disclose
TRADITION SECURITIES AND DERIVATIVES INC.:
No Material Aspects to Disclose
August 2021
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 | 4.38 | 0.00 | 0.00 | 95.62 |
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 | 86.66 | 1.65 | 0.00 | 0.00 | 98.35 | 1,090.52 | 31.9521 | 0 | 0.0000 | 0 | 0.0000 | 27,125.94 | 8.5726 |
| ICAP | 6.11 | 18.58 | 0.00 | 0.00 | 81.42 | 3,148.67 | 12.4272 | 0 | 0.0000 | 0 | 0.0000 | 22,470.95 | 12.4272 |
| CASY | 3.08 | 27.19 | 0.00 | 0.00 | 72.81 | 4,947.9 | 13.7053 | 0 | 0.0000 | 0 | 0.0000 | 14,647.31 | 15.1713 |
| Pyramid | 1.35 | 24.00 | 0.00 | 0.00 | 76.00 | 234.29 | 62.1452 | 0 | 0.0000 | 0 | 0.0000 | 3,564.04 | 58.6287 |
| MAXIM | 0.81 | 13.33 | 0.00 | 0.00 | 86.67 | 4.63 | 57.8400 | 0 | 0.0000 | 0 | 0.0000 | 184.51 | 57.8400 |
| XFA | 0.73 | 25.93 | 0.00 | 0.00 | 74.07 | 3,650.34 | 71.2400 | 0 | 0.0000 | 0 | 0.0000 | 2,809.62 | 63.8986 |
| TULLETT PREBON FINANCIAL SERVICES LLC | 0.70 | 42.31 | 0.00 | 0.00 | 57.69 | 11,292.7 | 57.4400 | 0 | 0.0000 | 0 | 0.0000 | 39,534.59 | 49.0017 |
| DASH FINANCIAL LLC | 0.22 | 0.00 | 0.00 | 0.00 | 100.00 | 0 | 0.0000 | 0 | 0.0000 | 0 | 0.0000 | 725.71 | 20.2600 |
| CANACCORD GENUITY INC. | 0.11 | 50.00 | 0.00 | 0.00 | 50.00 | 208.38 | 46.3074 | 0 | 0.0000 | 0 | 0.0000 | 270.74 | 27.0737 |
| PTR | 0.11 | 0.00 | 0.00 | 0.00 | 100.00 | 0 | 0.0000 | 0 | 0.0000 | 0 | 0.0000 | 343.59 | 68.7188 |
Material Aspects:
INSTINET:
Nomura Received Rebates From Instinet
ICAP:
No Material Aspects to Disclose
CASY:
No Material Aspects to Disclose
Pyramid:
No Material Aspects to Disclose
MAXIM:
No Material Aspects to Disclose
XFA:
No Material Aspects to Disclose
TULLETT PREBON FINANCIAL SERVICES LLC:
No Material Aspects to Disclose
DASH FINANCIAL LLC:
No Material Aspects to Disclose
CANACCORD GENUITY INC.:
No Material Aspects to Disclose
PTR:
No Material Aspects to Disclose
September 2021
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 | 3.32 | 21.20 | 6.99 | 68.50 |
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 | 87.81 | 0.62 | 22.26 | 7.60 | 69.52 | 1,063.35 | 15.1799 | 20,126.43 | 18.7332 | 346.54 | 1.9954 | 23,101.85 | 7.0257 |
| ICAP | 5.00 | 13.29 | 8.09 | 0.00 | 78.61 | 3,946.68 | 13.5495 | 1,065.94 | 13.5495 | 0 | 0.0000 | 12,885.8 | 13.5495 |
| CASY | 3.52 | 31.97 | 19.67 | 1.64 | 46.72 | 4,953.71 | 15.2206 | 863.5 | 13.3607 | 78.4 | 7.8400 | 7,299.09 | 12.6219 |
| Pyramid | 1.47 | 29.41 | 15.69 | 11.76 | 43.14 | 490.57 | 64.9761 | 1,853.61 | 64.8117 | 384.43 | 65.4900 | 5,412.21 | 55.1197 |
| TULLETT PREBON FINANCIAL SERVICES LLC | 0.66 | 17.39 | 47.83 | 4.35 | 30.43 | 913.6 | 22.8400 | 8,066.98 | 51.2157 | 31.17 | 28.3400 | 6,657.45 | 39.9008 |
| MAXIM | 0.46 | 0.00 | 0.00 | 0.00 | 100.00 | 0 | 0.0000 | 0 | 0.0000 | 0 | 0.0000 | 666.9 | 57.8400 |
| XFA | 0.26 | 66.67 | 0.00 | 0.00 | 33.33 | 219.04 | 70.6594 | 0 | 0.0000 | 0 | 0.0000 | 465.2 | 71.2400 |
| TRADITION SECURITIES AND DERIVATIVES INC. | 0.23 | 62.50 | 0.00 | 0.00 | 37.50 | 1,626.56 | 47.8400 | 0 | 0.0000 | 0 | 0.0000 | 329.15 | 16.5900 |
| Lakeshore | 0.20 | 28.57 | 0.00 | 14.29 | 57.14 | 1.31 | 32.8400 | 0 | 0.0000 | 157.23 | 34.9400 | 824.1 | 54.9400 |
| TFS | 0.14 | 40.00 | 0.00 | 0.00 | 60.00 | 870.13 | 43.5067 | 0 | 0.0000 | 0 | 0.0000 | 2,827.93 | 43.5067 |
Material Aspects:
INSTINET:
Nomura Receives Rebates From Instinet
ICAP:
No Material Aspects to Disclose
CASY:
No Material Aspects to Disclose
Pyramid:
No Material Aspects to Disclose
TULLETT PREBON FINANCIAL SERVICES LLC:
No Material Aspects to Disclose
MAXIM:
No Material Aspects to Disclose
XFA:
No Material Aspects to Disclose
TRADITION SECURITIES AND DERIVATIVES INC.:
No Material Aspects to Disclose
Lakeshore:
No Material Aspects to Disclose
TFS:
No Material Aspects to Disclose
Previous Reports
| XML | |||
|---|---|---|---|
| 2021 | |||
| 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) |
