Institutional 606 (i.e., SEC Rule 606(b)(3)) went fully live in July of 2020.
Brokers are now responsible for providing buy-side firms ad hoc reports detailing how their not-held orders were handled, including through the use of Actionable IOIs. The seemingly never-ending cascade of increasing data and different execution choices can seem overwhelming.
Our report dives into the details to try to help to distill some signal from the noise.
