Value Microcaps Motherboard

[deathtotaxes]

R59: Zecco, Penson the clearing agent must be getting the money and Zecco benefits with a lower cost to clear the business.


From the Zecco Customer Agreement & I assume boilerplate industry standard lingo.

13. Order Flow Disclosure. Depending on the security traded and absent specific direction from the undersigned, stock orders are routed via an electronic system to a listed,
NASDAQ or over the counter broker or dealer. You or your correspondents may receive cash payments for routing such orders to specific brokers or dealers. Because these
agents are market makers, they carry inventory in their specific securities, allowing for price improvement to the undersigned by trading through their inventories.
Accordingly, the undersigned’s orders will always be executed at the “best bid” or “best offer”, or at a price superior to either, by virtue of the market maker’s inventory positioning capabilities.