Rule 611 Trade Through Reporting

Powerful Tools to Monitor and Manage Trading Activity

Rule 611 Trade Through reporting is provided to firms on a daily basis via the website to help firms comply with the rule by establishing written policies and procedures to monitor and help prevent potential Trade-Throughs – the execution of trades at prices inferior to protected quotes on multiple exchanges.

With BXS, firms will be able to view retail and institutional trades in NMS stocks that got flagged as a Trade-Through, drill down and view the life of the order and each fill(s) execution price vs. the protected quote (best price) at the time of execution, see where the trade through occurred and at which venue. This allows firms to act quickly upon it.

T+1 Exceptions Reporting

Monitor Order Flows and Exceptions

Exceptions Reporting is provided to firms on a daily T+1 basis via the website to help firms monitor their order flow and when exceptions occurs - trades that were executed unfavorably against the NBBO (National Best Bid Offer) from the previous day’s trading activity. Whether the order flow is executed internally or sent to multiple trading venues, the T+1 Exceptions report will help firms determine if they are making the right routing decisions. The report will be broken out by three order types - Market Orders, Marketable Limit Orders and Non-Marketable Limit Orders. Firms will be able to see every exception by order type, have drill down capability to view the life of the order including the order details of each partial fill as well as the NBBO quotes associated with each fill.