Rule 606(a) Analysis

S3 Rule 606(a) Analysis offers advanced analytics for SEC Rule 606(a) Reports. 

SEC Rule 606(a) requires broker-dealers to make quarterly reports publicly available, broken down by calendar month, containing certain required information regarding the order routing of held, non-directed customer orders in Regulation NMS stocks and listed options. S3 aggregates this submitted public data and offers users easy-to-use tools for analysis and comparison.

 

How it Works

  • S3 collects all public data from SEC Rule 606(a) Reports. If we’ve missed one (e.g. smaller brokers, new brokers), let us know, and we’ll incorporate it into the analysis
  • S3 aggregates the data into a single tool to allow comparisons

Key Features

  • Allows clients to compare and analyze SEC Rule 606(a) reports submitted by broker-dealers
  • Allows grouping by a variety of different data points – both forward-looking (i.e. using the data as it comes from the originating broker-dealer) and backward-looking (i.e. combining all of the different 606(a) reports by destination to see where order flow is coming from)
  • “Reverse Engineers” data points that are not provided, such as transaction volume, allowing clients to see estimates of volume that competitors, clients, and vendors are trading
  • Easily see at a glance how the entire industry is doing, down to an individual broker

 

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