SEC Order Execution & Routing Disclosures for UBS Securities LLC


The Securities and Exchange Commission ("SEC") maintains two rules that require standardized public disclosure regarding broker-dealers' order execution and routing practices.

Rule 605 (formerly Rule 11Ac1-5)

Requires market centers to publicly disclose monthly execution quality statistics for National Market System ("NMS") securities based on certain specified requirements. Please be aware that the statistics prepared under Rule 605 only capture a subset of the order flow handled and executed by UBS Securities LLC (UBS).

Rule 606 (formerly Rule 11Ac1-6)

Requires broker-dealers to disclose on a quarterly basis an overview of their order routing practices for customers' equity and option orders in NMS securities, identifying the top venues to which customer orders are routed for execution.

In November 2018, the SEC adopted amendments to Rule 606 that introduced a new reporting format and more granular disclosures concerning payments for orders routed.

The first UBS report reflecting the SEC’s amendments is for for Q12020.

Changes in trading technology, equity market structure, trading activity, and business practices, as well as findings from our regular and rigorous reviews, may result in modifications to UBS order handling, routing, and/or execution practices. Those changes will impact the information disseminated by UBS under Rules 605 and 606.

Disclaimer of liability