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MERIDIAN
EQUITY PARTNERS
SEC Rule 606 Quarterly Report for the Quarter Ending June 30, 2018
posted : July 22,2018 – Optimal Applications, LLC
Meridian sometimes receives payment for order flow in
the form of liquidity rebates. In an effort to seek
best execution, Meridian routes its client orders to national securities
exchanges, alternative trading systems (ATSs) and other venues and market
centers (collectively “market centers”). Certain market centers,
including many exchanges, provide rebates or charge fees based upon whether
routed orders contribute liquidity to that market center or extract liquidity
from the market center. Meridian may also receive incremental pricing
benefits from market centers based upon the aggregate trading volume
generated by Meridian. Such rebates and fees are considered payment for order
flow even though the aggregate amount of these rebates may or may not offset
or exceed the fees paid to these market centers for removing liquidity during
any given time period.
Summary Statistics
- EQUITIES :
:
Non-directed orders as percentage of total customer orders
100%
Market orders as percentage of total non-directed orders 73%
Limit orders as percentage of total non-directed orders 27%
Information
Concerning Significant Venues :
New York Stock Exchange Listed Symbols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
% of orders – Market on Close
|
|
NYSE
|
97
|
73
|
27
|
0
|
|
CLEARPOOL
|
2
|
78
|
22
|
0
|
American Exchange Listed Symbols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
% of orders – Market on Close
|
|
NYSE
|
43
|
71
|
29
|
0
|
|
CITADEL
|
8
|
100
|
0
|
0
|
|
UBSA
|
6
|
100
|
0
|
0
|
|
ARCX
|
6
|
100
|
0
|
0
|
|
DBSX
|
5
|
100
|
0
|
0
|
|
CAES
|
4
|
100
|
0
|
0
|
|
LEVL
|
3
|
100
|
0
|
0
|
|
CDED
|
3
|
96
|
4
|
0
|
|
AMEX
|
3
|
100
|
0
|
0
|
|
JPMX
|
2
|
100
|
0
|
0
|
|
NASDAQ
|
2
|
100
|
0
|
0
|
|
KNMX
|
1
|
100
|
0
|
0
|
|
BIDS
|
1
|
100
|
0
|
0
|
|
SGMT
|
1
|
100
|
0
|
0
|
Nasdaq Listed Symbols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
% of orders – Market on Close
|
|
NASDAQ
|
36
|
74
|
26
|
0
|
|
NYSE
|
27
|
73
|
27
|
0
|
|
ARCX
|
9
|
85
|
15
|
0
|
|
GLP
|
7
|
95
|
5
|
0
|
|
CITADEL
|
4
|
77
|
23
|
0
|
|
CDED
|
3
|
67
|
33
|
0
|
|
STGY
|
2
|
72
|
28
|
0
|
|
CLEARPOOL
|
2
|
80
|
20
|
0
|
|
UBSA
|
1
|
95
|
5
|
0
|
|
JPMX
|
1
|
96
|
4
|
0
|
Summary Statistics - OPTIONS :
:
Non-directed orders as percentage of total customer orders
100%
Market orders as percentage of total non-directed orders 7%
Limit orders as percentage of total non-directed orders 93%
Information
Concerning Significant Venues :
American Exchange Listed Symbols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
% of orders – Market on Close
|
|
AMEX
|
100
|
6
|
94
|
0
|
Nasdaq Listed Symbols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
% of orders – Market on Close
|
|
AMEX
|
100
|
8
|
92
|
0
|
|