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/rules/final/34-43590.html

https://www.sec.gov/interps/legal/mrslb13a.html

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

April 2020

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 1.35 0.00 0.00 98.65

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 94.99 0.17 0.00 0.00 99.83 0 0.0000 0 0.0000 0 0.0000 -7,502.89 -2.2397
ICAP 2.67 25.93 0.00 0.00 74.07 2,909.83 15.5158 0 0.0000 0 0.0000 7,409.72 15.5158
DASH FINANCIAL LLC 0.63 0.00 0.00 0.00 100.00 0 0.0000 0 0.0000 0 0.0000 550.46 20.2600
Pyramid 0.63 0.00 0.00 0.00 100.00 0 0.0000 0 0.0000 0 0.0000 1,532.47 65.4900
CASY 0.36 90.91 0.00 0.00 9.09 2,282.8 13.4282 0 0.0000 0 0.0000 1,230.96 17.8400
Lakeshore 0.26 25.00 0.00 0.00 75.00 130.67 59.9400 0 0.0000 0 0.0000 1,910.19 52.8408
MAXIM 0.20 0.00 0.00 0.00 100.00 0 0.0000 0 0.0000 0 0.0000 441.9 57.8400
TULLETT PREBON FINANCIAL SERVICES LLC 0.13 25.00 0.00 0.00 75.00 581.82 28.3400 0 0.0000 0 0.0000 2,260.01 25.9831
Baycrest 0.07 100.00 0.00 0.00 0.00 35.96 35.9604 0 0.0000 0 0.0000 0 0.0000
XFA 0.07 0.00 0.00 0.00 100.00 0 0.0000 0 0.0000 0 0.0000 142.48 71.2400

Material Aspects:

INSTINET:
Nomura receives rebates from Instinet

ICAP:
No material aspects to report

DASH FINANCIAL LLC:
No material aspects to report

Pyramid:
No material aspects to report

CASY:
No material aspects to report

Lakeshore:
No material aspects to report

MAXIM:
No material aspects to report

TULLETT PREBON FINANCIAL SERVICES LLC:
No material aspects to report

Baycrest:
No material aspects to report

XFA:
No material aspects to report

May 2020

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 2.14 0.00 0.00 97.86

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 91.14 0.22 0.00 0.00 99.78 0 0.0000 0 0.0000 0 0.0000 9,461.65 3.5820
CASY 4.63 21.51 0.00 0.00 78.49 2,314.72 10.8038 0 0.0000 0 0.0000 8,489.68 13.4006
ICAP 2.34 25.53 0.00 0.00 74.47 1,338.97 18.6851 0 0.0000 0 0.0000 4,583.45 18.6851
Pyramid 0.80 25.00 0.00 0.00 75.00 243.62 65.4900 0 0.0000 0 0.0000 474.15 65.4900
MAXIM 0.35 0.00 0.00 0.00 100.00 0 0.0000 0 0.0000 0 0.0000 118.57 57.8400
DASH FINANCIAL LLC 0.20 0.00 0.00 0.00 100.00 0 0.0000 0 0.0000 0 0.0000 54.5 20.2600
Lakeshore 0.20 50.00 0.00 0.00 50.00 239.76 59.9400 0 0.0000 0 0.0000 7,423.57 59.9400
TULLETT PREBON FINANCIAL SERVICES LLC 0.15 0.00 0.00 0.00 100.00 0 0.0000 0 0.0000 0 0.0000 1,469.43 28.3400
XFA 0.10 0.00 0.00 0.00 100.00 0 0.0000 0 0.0000 0 0.0000 1,249.55 71.2400
DYNAMEX TRADING, LLC 0.05 100.00 0.00 0.00 0.00 756.8 37.8400 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

INSTINET:
Nomura receives rebates from Instinet

CASY:
No material aspects to report

ICAP:
No material aspects to report

Pyramid:
No material aspects to report

MAXIM:
No material aspects to report

DASH FINANCIAL LLC:
No material aspects to report

Lakeshore:
No material aspects to report

TULLETT PREBON FINANCIAL SERVICES LLC:
No material aspects to report

XFA:
No material aspects to report

DYNAMEX TRADING, LLC:
No material aspects to report

June 2020

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 4.83 0.00 0.00 95.17

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 90.35 2.44 0.00 0.00 97.56 49.15 12.2264 0 0.0000 0 0.0000 10,635.72 4.1724
ICAP 4.02 26.92 0.00 0.00 73.08 3,675.06 11.3913 0 0.0000 0 0.0000 6,650.01 11.3913
CASY 3.55 26.09 0.00 0.00 73.91 2,534.07 15.7230 0 0.0000 0 0.0000 8,145.87 15.0138
Pyramid 0.73 10.53 0.00 0.00 89.47 261.96 65.4900 0 0.0000 0 0.0000 379.8 58.0741
DYNAMEX TRADING, LLC 0.31 100.00 0.00 0.00 0.00 313.28 18.4282 0 0.0000 0 0.0000 0 0.0000
XFA 0.27 28.57 0.00 0.00 71.43 247.44 41.2400 0 0.0000 0 0.0000 471.61 71.2400
Lakeshore 0.23 16.67 0.00 0.00 83.33 492.6 32.8400 0 0.0000 0 0.0000 3,222.37 59.9400
TULLETT PREBON FINANCIAL SERVICES LLC 0.23 50.00 0.00 0.00 50.00 470.76 7.8434 0 0.0000 0 0.0000 3,729.35 27.5819
CANACCORD GENUITY INC. 0.15 0.00 0.00 0.00 100.00 0 0.0000 0 0.0000 0 0.0000 808.99 46.3074
DASH FINANCIAL LLC 0.08 0.00 0.00 0.00 100.00 0 0.0000 0 0.0000 0 0.0000 6.69 20.2600

Material Aspects:

INSTINET:
Nomura receives rebates from Instinet

ICAP:
No material aspects to report

CASY:
No material aspects to report

Pyramid:
No material aspects to report

DYNAMEX TRADING, LLC:
No material aspects to report

XFA:
No material aspects to report

Lakeshore:
No material aspects to report

TULLETT PREBON FINANCIAL SERVICES LLC:
No material aspects to report

CANACCORD GENUITY INC.:
No material aspects to report

DASH FINANCIAL LLC:
No material aspects to report

Previous reports

    PDF XML
2020
Q2 (Apr-Jun) PDF
(58KB)
XML
(33KB)
Q1 (Jan-Mar) PDF
(50KB)
XML
(34KB)
Connecting Markets East & West