Payment for Order Flow:
Siebert has consistently handled its customers' orders with the goal of the best execution at a low cost. In all cases, we seek to direct orders so that they are executed promptly and at the best price.
We monitor and compare the quality of executions to comply with both industry regulations and with our business goal of getting the best price for our customers. Siebert may receive negligible payments for order flow. The various option exchanges may also pay for order flow. We shall continue to direct our option order flow to the market with the tightest spread and most volume, with the help of our agent dealers.
Siebert may share revenue from certain executions based upon a number of factors including, but not limited to: size of the order, the NBBO in the security at the time of execution, time of order entry, whether the order is executable at the time of entry, and whether or not an order is price improved.
Free Credit Interest
Uninvested cash in your account may be held by us as a “free credit balance” earning interest and available to you for investment or to withdraw at any time, just as with a money market fund.
The “Free Credit Interest” feature pays you interest, at a rate set by Muriel Siebert & Co., Inc. on cash awaiting investment. Certain types of account may not be eligible for “Free Credit Interest” and will have uninvested cash held in a money market fund.
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