Payment for order flow definition

Payment for order flow means any monetary payment, service, prop- erty, or other benefit that results in re- muneration, compensation, or consid- eration to a broker or dealer from any broker or dealer, national securities exchange, registered securities associa- tion, or exchange member in return for the routing of customer orders by such broker or dealer to any broker or deal- er, national securities exchange, reg- istered securities association, or ex- change member for execution, includ- ing but not limited to: research, clear- ance, custody, products or services; re- ciprocal agreements for the provision of order flow; adjustment of a broker or dealer’s unfavorable trading errors; of- fers to participate as underwriter in public offerings; stock loans or shared interest accrued thereon; discounts, re- bates, or any other reductions of or credits against any fee to, or expense or other financial obligation of, the broker or dealer routing a customer order that exceeds that fee, expense or financial obligation.
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Payment for order flow means an arrangement where a person receives an incentive from another person, in exchange for sending their clients’ orders to that other person. These incentives can be in the form of direct cash payments or soft dollar incentives (e.g. the provision of free services such as research or technology).
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Examples of Payment for order flow in a sentence

  • Payment for order flow is considered to be compensation to Apex Clearing.

  • Payment for order flow occurs where a firm acting as the broker in relation to an order receives a commission from both the client from whom the order has originated and the counterparty with whom the trade is subsequently executed.

  • Payment for order flow is considered to be compensation to Xxxxxx.

  • Payment for order flow occurs when a market maker or specialist pays brokers for routing orders to her in the form of rebates.

  • Payment for order flow should also be subject to further regulatory scrutiny.

  • Payment for order flow occurs whenever an investment firm receives a fee or commission from the client that origi- nates the order and, simultaneously, from the counterparty the trade is then executed with – typically a market-maker or other liquidity provider, which in that way pays for the investment firm clients’ order flow.

  • In the area of inducements, we have observed that Payment for order flow (PFOF) has become more and more popular over the last few years and has successfully resulted in directing order flow from retail brokers to certain platforms.

  • As can be seen in Figure 2, User Needs are central to developing a usable system, product, or service.

  • Payment for order flow (PFOF) is the practice of receiving compensation in exchange for routing orders to a specific destination.

  • Payment for order flow programs are in place at each of the other options exchanges in varying amounts and covering various options.

Related to Payment for order flow

  • Calling Name Delivery Service (CNDS) means a service that enables a terminating End User to identify the calling Party by a displayed name before a call is answered. The calling Party’s name is retrieved from a calling name database and delivered to the End User’s premise between the first and second ring for display on compatible End User premises equipment.

  • Payment Schedule ’ means a schedule which sets out—

  • Delivery Year means the Planning Period for which a Capacity Resource is committed pursuant to the auction procedures specified in Tariff, Attachment DD, or pursuant to an FRR Capacity Plan under Reliability Assurance Agreement, Schedule 8.

  • Technical Services means all services that are necessary to carry out individual, scattered site activities including but not limited to: (1) conducting initial inspections, (2) work write-up or project specification development, (3) cost estimate preparation, (4) construction supervision associated with activities that do not require an architect or engineer, (5) lead hazard reduction or lead abatement need determination and oversight, (6) lead hazard reduction or abatement carrying costs, (7) temporary relocation coordination, (8) financing costs such as security agreement preparation and recording or filing fees, (9) processing of individual applications for assistance, (10) income eligibility determination and verification, (11) value determination (new construction) or after rehabilitation value determination (existing structures), and (12) project-specific environmental clearance processes.

  • Transfer Order means a transfer order issued pursuant to subsection 40(1) of the CCA transferring this Agreement from the LHIN to Ontario Health;

  • Authentication of product history means, but is not limited to, identifying the purchasing source, the ultimate fate, and any intermediate handling of any component of a radiopharmaceutical.

  • Repayment Schedule means the schedule of repayment dates as detailed in Schedule 5 (Loan Repayment Schedule), to be replaced as required in accordance with Clause 5 (Repayment) and Clause 6.10(b) (Partial prepayment of Loans).

  • Appendix to Tender means the appendix comprised in the form of Tender annexed to these Conditions.

  • Acceptance Tests means those tests performed during the Performance Period which are intended to determine compliance of Equipment and Software with the specifications and all other Attachments incorporated herein by reference and to determine the reliability of the Equipment.