Disclosure of Order Execution
and Routing Practices

The Securities and Exchange Commission’s client disclosure rule, SEC Rule 11Ac1-6, requires all broker-dealers that route orders in equity and option securities to make available quarterly reports that present a general overview of their routing practices.  As an introducing broker, Online Brokerage Services, Inc. relies on its clearing firm, Penson Financial, for quality execution services.  All order routing of transactions is directed through our clearing firm, Penson Financial, relying on its best execution review in determining the best available market or venue to route client orders. 

To view the most recent and previous order routing reports filed by Penson Financial, click on the link below.

SEC Rule 11Ac1-6                Click here.

*IMPORTANT INFORMATION ABOUT INVESTMENTS. NOT FDIC-INSURED. NO BANK GUARANTEE. MAY LOSE VALUE. NOT A DEPOSIT. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

*The term Direct Access refers to the client’s ability to determine which Exchange, ECN or Market Maker receives their order. The term does not mean to imply that you can trade without a broker, as any transaction would require a relationship with a registered Broker-Dealer. Securities offered through Online Brokerage Services member NASD/SIPC, NFA.

The risk of loss in electronic trading can be substantial. You should therefore consider whether such trading is suitable for you based on your individual circumstances and financial resources. Account access, trade execution and system response may be adversely affected by market conditions, quote delays, system performance and other factors. Extended hours trading entails several risks including lower liquidity, higher volatility, wider spreads, changing prices, unlinked markets, news and announcements. Not all securities, products or services are available in all states or countries outside the United States and nothing herein should be deemed as an offer or solicitation of these securities, products and services in any jurisdiction in which Online Brokerage Services is not properly licensed and registered.