Report on Routing of Customer Orders
Currently all orders of Morgan Wilshire Securities, Inc. are routed through its clearing firm, RBC Clearing & Custody (RBC), a division of RBC Capital Markets, LLC.
RBC has provided information pursuant to U.S. Securities and Exchange Commission Rule 606 that requires firms to make publicly available quarterly reports on the firm’s order routing practices. The report provides information on the routing of “non-directed orders” which is generally defined as any order that the client has not specifically instructed to be routed to a particular venue for execution.
For these non-directed orders, RBC has selected the execution venue on behalf of its clients.
The report is divided into four sections: one for securities listed on the New York Stock Exchange, one for securities listed on The Nasdaq Stock Market, one for securities listed on the American Stock Exchange or regional exchanges, and one for exchange-listed options.
For each section, this report identifies the venues most often selected by RBC, sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of RBC’s relationship with the venues.
Click RBC Clearing & Custody SEC Rule 606 Report for the most recent quarter.
Client Relationship Summary – Form CRS
The Securities and Exchange Commission (SEC) has introduced a new Client Relationship Summary known as Form CRS. It provides information about the relationship between a client and their broker-dealer or investment advisor. The new Form CRS has an effective date of June 30, 2020. The Form CRS will help provide you with information that will help us continue to work well together.