Sunrise Brokers LLC | Disclosure of Order Routing Information – SEC Rule 606
Disclosure of Order Routing Information:
In accordance with Securities and Exchange Commission (“SEC”) requirements, Sunrise Brokers LLC is publishing statistical information about its routing of certain customers’ 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 Sunrise Brokers LLC order flow.
These statistics are intended to provide only an overview of Sunrise Brokers LLC order routing practices. Accordingly, the statistics do not create a reliable basis on which to assess whether Sunrise Brokers LLC or any other trading venue has satisfied its duty of best execution. Sunrise Brokers LLC 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.
For further information on SEC Rule 606, you may visit the SEC website.
Equities Payment for Order Flow Disclosure:
Sunrise Brokers LLC routes customer equity orders to national securities exchanges, alternative trading systems, which may include electronic communications networks, and other market centers. In exchange for routing equity orders to certain market centers, Sunrise Brokers LLC may receive monetary rebates per executed share for equity orders that add liquidity to its book and/or rebates for aggregate exchange fees. The rebates are considered payment for order flow even though it may not necessarily offset Sunrise Brokers LLC aggregate payments for removing liquidity. In this regard, in any given month, the ‘credits’ received by Sunrise Brokers LLC from a given market center may exceed the ‘debits’ charged to Sunrise Brokers LLC for such period. Therefore, such excess credits paid to Sunrise Brokers LLC may constitute, according to regulatory interpretation, payment for order flow.
Options Payment for Order Flow Disclosure:
Sunrise Brokers LLC routes customer option orders to the various listed option exchanges. Sunrise Brokers LLC does not accept direct payment for order flow from any of these exchanges. However, some of the option exchanges have instituted a Maker/Taker model or a Taker/Maker model (standard charge and rebate model offered by some options exchanges), and therefore, in any given month the ‘credits’ received by Sunrise Brokers LLC from a given market center may exceed the ‘debits’ charged to Sunrise Brokers LLC for such period. Therefore, such excess credits paid to Sunrise Brokers LLC, according to regulatory interpretation, may constitute payment for order flow.
Ownership Interests in US Equity/Option Exchanges or other Routing Venues:
Sunrise Brokers LLC 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, Sunrise Brokers LLC may, through the normal course of business, purchase and sell shares in these venues. With respect to routing venues, Instinet, Inc., which Sunrise Brokers LLC may use as a routing venue from time to time, is an affiliate of Sunrise Brokers LLC.
NASDAQ Stock Exchange Securities:
| For Quarter Ended 03/31/2017 |
Non–Directed Orders |
Non–Directed Market Order |
Non–Directed Limit Order |
Non–Directed Other Order* |
| Orders Routed To: | ||||
| NASDAQ |
100.00% |
100.00% |
0% |
0.00% |
| Total Non–Directed Orders |
100% |
100% |
0.00% |
0.00% |
NYSE AMEX/ Regional Stock Exchange Securities:
| For Quarter Ended 03/31/2017 |
Total Non-Directed Order |
Non-Directed Market Order |
Non-Directed Limit Order |
Non-Directed Other Order* |
| Orders Routed To: | ||||
| NYSE |
54.00% |
54.00% |
0% |
0.00% |
| Cheevers & Company Inc. (CHBC) |
35.00% |
35.00% |
0% |
0.00% |
| FOG |
11.00% |
11.00% |
0% |
0.00% |
| Total Non-Directed Orders |
100% |
100% |
0% |
0.00% |
Listed Options:
| For Quarter Ended 03/31/2017 |
Total Non-Directed Order |
Non-Directed Market Order |
Non-Directed Limit Order |
Non-Directed Other Order* |
| Orders Routed To: | ||||
| NYSE/Amex |
47.00% |
47.00% |
0.00% |
0% |
| Chicago Board Options Exchange |
37.00% |
37.00% |
0% |
0% |
| Philadelphia Options Exchange |
16.00% |
16.00% |
0.00% |
0% |
| Total Non-Directed Orders |
100% |
100% |
0.00% |
0% |
CIP (Customer Identification Program) Notice
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person or company who opens an account with Sunrise Brokers, LLC.
What this means: When you open account, we will ask for the name of your entity, address, tax identification number and other information that will allow us to identify you. We may also request to see your articles of incorporation, partnership agreement or other identifying documents.
