Fidelity Investments: Enable IEX routing on retail trading platforms, per FINRA-5310​.​

The Issue

As per FINRA-5310.08, we as retail shareholders have the right to route our trades as we see fit—and IEX is the routing system retail shareholders would like for Fidelity Investments to enable.

FIRNA-5310.08 - Customer Instructions Regarding Order Handling. If a member receives an unsolicited instruction from a customer to route that customer's order to a particular market for execution, the member is not required to make a best execution determination beyond the customer's specific instruction. Members are, however, still required to process that customer's order promptly and in accordance with the terms of the order. Where a customer has directed that an order be routed to another specific broker-dealer that is also a FINRA member, the receiving broker-dealer to which the order was directed would be required to meet the requirements of Rule 5310 with respect to its handling of the order.

 

avatar of the starter
Scott B.Petition Starter
This petition had 40 supporters

The Issue

As per FINRA-5310.08, we as retail shareholders have the right to route our trades as we see fit—and IEX is the routing system retail shareholders would like for Fidelity Investments to enable.

FIRNA-5310.08 - Customer Instructions Regarding Order Handling. If a member receives an unsolicited instruction from a customer to route that customer's order to a particular market for execution, the member is not required to make a best execution determination beyond the customer's specific instruction. Members are, however, still required to process that customer's order promptly and in accordance with the terms of the order. Where a customer has directed that an order be routed to another specific broker-dealer that is also a FINRA member, the receiving broker-dealer to which the order was directed would be required to meet the requirements of Rule 5310 with respect to its handling of the order.

 

avatar of the starter
Scott B.Petition Starter

The Decision Makers

Fidelity Investments
Fidelity Investments
Retail traders
Retail traders
IEX Routing
IEX Routing
firna
firna

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