Order Execution Information (SEC Rule 605)
Davenport & Company LLC is not a market maker in equity securities. As such, we do not provide order execution information pursuant to SEC Rule 605.
Order Routing Information (SEC Rule 606)
Davenport & Company LLC exclusively routes orders in Rule 606 reportable securities to Pershing, LLC for order routing. Pershing may not be the ultimate execution venue for such orders, and these orders may be further routed to execution venues. Davenport & Company LLC does not receive any remuneration for orders routed to Pershing, including any execution venue fees or rebates that may be paid by an executing venue. However, Pershing may receive remuneration from executing venues through maker-taker pricing or other applicable execution venue fees or rebates.
Davenport & Company LLC does not select the execution venues to which Pershing routes Rule 606 reportable securities for execution. As a result, Pershing is better positioned to prepare a quarterly report that reflects any execution venue specific maker-taker arrangements or other execution venue fees or rebates.
Please click www.orderroutingdisclosure.com to view the most recent quarterly report for Pershing, LLC. Search for “PERSHING LLC” in the Broker-Dealer’s Full Name field.
In addition, on November 2, 2018, the Securities and Exchange Commission (“SEC”) or (the “Commission”) adopted amendments to Rules 600, 605, and 606 of Regulation NMS under the Securities Exchange Act (the “Exchange Act”). The recently adopted amendments to Rule 606(b) added a new disclosure requirement, set forth in new paragraph (b)(3), that requires a broker-dealer, upon request of its customer, to provide specific disclosures related to the routing and execution of the customer’s NMS orders submitted on a not held basis for the prior six months, subject to two de minimis exceptions. The Commission also amended the existing disclosure requirement in paragraph (b)(1) of Rule 606 to cover customer disclosure requests that are not covered by new paragraph (b)(3). To obtain more information about the rule, you may access the following website addresses:
https://www.sec.gov/rules/final/2019/34-85714.pdf
https://www.sec.gov/rules/final/2018/34-84528.pdf