SEC Order Disclosure
BNB Financial Securities and Exchange Commission Order Disclosure
SEC Rule 606 (formerly Rule 11Ac1-6)
BNB FINANACIAL DIRECTS ITS NEW YORK STOCK EXCHANGE ("NYSE") EQUITY ORDER FLOW TO ITS CLEARING BROKER, PERSHING LLC("PERSHING"), FOR ROUTING AND EXECUTION. BNB FINANCIAL DOES NOT RECEIVE COMPENSATION FOR
DIRECTING ORDER FLOW TO PERSHING.
PERSHING AND ITS AFFILIATES, PERSHING TRADING COMPANY, L.P.
(COLLECTIVELY "PERSHING") RECEIVE COMPENSATION FOR DIRECTING A PERCENTAGE OF NYSE EQUITY FLOW TO CERTAIN EXCHANGES OR SPECIALISTS. PERSHING ALSO ROUTES CERTAIN NYSE EQUITY ORDER FLOW TO AFFILIATED SPECIALISTS.
COMPENSATION IS GENERALLY IN THE FORM OF A PER SHARE CASH PAYMENT. ADDITIONALLY, CERTAIN EXCHANGES REDUCE OR ELIMINATE EXECUTION FEES ON ORDERS DIRECTED TO THEM IN DUALLY LISTED SECURITIES.
IF AN ORDER FOR A NYSE LISTED SECURITY IS NOT IMMEDIATELY EXECUTABLE ON THE EXCHANGE TO WHICH IT IS ROUTED, SUCH ORDER MAY BE REPRESENTATED IN THE NATIONAL MARKETPLACE USING THE VARIOUS MEANS AVAILABLE FOR PRICE DISCOVERY.
BNB FINANCIAL DIRECTS ITS AMERICAN STOCK EXCHANGE ("AMEX") ORDER FLOW TO ITS CLEARING BROKER, PERSHING LLC("PERSHING"), FOR ROUTING AND EXECUTION. BNB FINANCIAL DOES NOT RECEIVE COMPENSATION FOR DIRECTING ORDER FLOW TO PERSHING. HOWEVER, PERSHING RECEIVES COMPENSATION PURSUANT TO THE FOLLOWING PRACTICES.
PERSHING AND ITS AFFILIATES, PERSHING TRADING COMPANY, L.P. (COLLECTIVELY "PERSHING") RECEIVE COMPENSATION FOR DIRECTING A PERCENTAGE OF AMEX EQUITY ORDER FLOW TO CERTAIN EXCHANGES OR SPECIALISTS. PERSHING ALSO ROUTES CERTAIN AMEX EQUITY ORDER FLOW TO AN AFFILIATED SPECIALIST.
Routing and Execution Disclosures Made Pursuant to SEC Rule 606
Rule 606 of SEC Regulation NMS requires broker-dealers receiving non-directed client orders to publicly disclose, on a quarterly basis, the top execution venues to which such orders are routed for execution. Broker-dealers also must disclose material aspects of the relationships they maintain with the identified execution venues.
The Rule 606 statistics for BNB Financial accounts are available for public review by clicking: https://www.orderroutingdisclosure.com/orderrouting/jsp/main/IBDSearch.jsp
