EDGX ExchangeSM (EDGX®) will introduce a new enhancement to the Attribution program, pending approval by the Securities and Exchange Commission (SEC). Effective on or about June 18, 2014, Members will now have the ability to identify their orders as retail using a standard identifier as an alternative to using their firm’s MPID. The retail identifier will be disseminated via EdgeBook Attributed, along with other Attribution messages.
Expanding the attribution program to include a standard retail identifier promotes transparency by providing additional information about the quotes available on the EDGX book and helps improve execution quality for retail orders. Recent statistics show that retail firms that attribute their orders received an 18% higher fill rate than retail firms that send non-attributed orders.*
Additional details about the implementation of the standard retail identifier will be communicated as they become available closer to the effective date.
More Information
- Refer to EDGX Rule Filing SR-EDGX-2014-13.
- Refer to the trading with attribution page on the Direct Edge website.
