Series 24: 5.10.1.3. Disclosure Of Routing Information

5.10.1.3. Disclosure of Routing Information

Under the Order Protection Rule, which is discussed further later in this chapter, member firms must route client orders to the market with the best available price. Occasionally, two or more different markets will display the same price. In order to attract routing business, market makers or exchanges will sometimes pay members to route their orders to them. This is called “payment for order flow.” The SE