S3 CEO Mark Davies weighs in on SEC Rule 606 in Finops Report
by Chris Kentouris
29 August 2019
The US Securities and Exchange Commission’s decision to broadly define what makes a trade execution discretionary will force introducing and executing brokers to walk a thin tightrope when complying with its new Rule 606.
They will have to make some tough choices on how much information the executing broker can release on a trade order without giving away its secret sauce. The introducing broker must also prevent the data about the trade from falling into the wrong hands — someone other than the intended client.