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Order Routing: SMH Capital Investments LLC (SMHCI)

The Securities & Exchange Commission (SEC) adopted Rule 606 (formerly SEC 11Ac-6) of the Securities Exchange Act. Rule 606 requires introducing broker-dealers like SMHCI that route nondirected orders in equity and options securities to make the following information available to the general public, via the internet, on a quarterly basis:

  • The identity of the market centers receiving a significant portion (as defined by the rule) of nondirected orders from SMHCI and the respective percentage represented by each;
  • The nature of NEXT’s relationship with the market centers receiving your nondirected orders;
  • The material aspects of any internalization or payment for order flow arrangements;
  • To furnish clients upon request the venues to which individual orders were sent for execution for the previous six months; and
  • To provide an annual written notification to clients that this information is available upon request.

With respect to SMHCI’s relationships with trading venues, we route 100% of our SEC 606-covered securities to its clearing broker, Wells Fargo Clearing Services, LLC (d/b/a First Clearing) for routing and execution. SMHCI does not receive compensation for directing order flow to Wells Fargo Cle aring
Services, LLC.

To review our order routing information, please click the link below.

Report for Wells Fargo Clearing Services, LLC SEC Rule 606 Report Disclosure 3rd Quarter, 2019

Click to download: Form ADV Part 2A

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Check the background of this financial professional on FINRA's BrokerCheck