At DASTA Financial, LLC ("DASTA Financial"), we are committed to providing you with transparency regarding our order routing practices. This disclosure document is intended to help you understand how we handle your orders and the relationship we have with your clearing and carrying broker dealer, Apex Clearing Corporation ("Apex Clearing").
DASTA Financial is an introducing broker dealer that introduces customers to Apex Clearing for clearing and carrying services. This means that while we facilitate your account, trading and other services, Apex Clearing handles the processing, clearing, and settlement of your securities transactions.
Routing of Orders
DASTA Financial exclusively routes all held orders in Rule 606 reportable securities to Apex Clearing for order routing. Apex Clearing may not be the ultimate execution venue for these order and these orders may be further routed to execution venues such as wholesalers. DASTA Financial does not select the execution venues to which Apex Clearing routes Rule 606 reportable securities for execution during normal business hours and extended trading sessions, however DASTA Financial does receive a portion of all revenues generated by Apex Clearing for its routing practices.
As such, Apex Clearing is best positioned to prepare quarterly report that reflects any execution venue specific maker-taker arrangements or other execution venue fees or rebates.
Please visit: http://public.s3.com/rule606/apex/ to view the most recent quarterly report for Apex.
DASTA Financial decision to exclusively route all held orders to Apex Clearing takes into account factors such as: (1) Price Improvement: We seek to route orders where you can obtain price improvement or a more favorable execution price; (2) Execution Speed: Orders are routed to venues where they can be executed quickly and efficiently; and (3) Reliability: We work with venues that have demonstrated reliability and stability.
Monitoring and Review
We regularly review and assess our order routing practices ensuring they are aligned with our commitment to achieving best execution for our customers. Specifically, we review the execution quality, costs, and benefits of routing orders to Apex Clearing compared to other available market centers.
If you have any questions or require additional information regarding our order routing practices, including specific details about payments and fees, please do not hesitate to contact us at firstname.lastname@example.org