Professional vs Non-Professional Market Data
Professional vs non-professional market data status decides your exchange fees. The occupational tests, self-certification, audits, and why OPRA differs.
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Fully Paid Securities Lending Explained
Fully paid securities lending, explained: how a broker lends your shares to short sellers, who posts collateral, and why a dividend arrives as cash in lieu.
Rule 605 vs 606: Execution Quality Reports
Rule 605 and 606 reports show execution quality and where your broker routes orders. Here is how to read effective spread and payment per hundred shares.