Trade execution speed is measured from the time Scottrade routes your order to the marketplace until the time your order is executed at the trading center. Trade execution speed does not include the time it takes for the order to be reported back to Scottrade and you.
Trade execution statistics are provided by VistaOne Solutions, which is not affiliated with Scottrade. Statistics are based on trades in NASDAQ 100 and S&P 500 stocks for market orders of 100 to 499 shares in size. Statistics exclude trades outside of the regular trading session, orders received during locked or crossed markets and trades that, in Scottrade's discretion, occur in extreme market conditions or other unusual circumstances. Market volatility, volume, and system availability may impact trade execution quality. This information is updated monthly with the average trade execution speed calculated using a 12 month rolling average. You will always receive the price at which your order was executed at the trading center even though the execution report that Scottrade receives may be delayed (or “late”) from the trading center. A “late report” refers to when a timely execution is not received from a trading center.
Scottrade monitors the execution quality of all the trading centers to assess whether the trading center is providing our customers best execution*. Scottrade uses various monitoring methods. These methods include a daily order-by-order exception report analysis. They also include a post trade date regular and rigorous review of execution quality. We perform this regular and rigorous review by analyzing statistics from VistaOne Solutions and by reviewing the output of our patented algorithm, the Scottrade Best-Execution Index or SBI™.
* defined in SEC rule 605
1Scottrade and Learning Markets are not affiliated. The materials presented are for information purposes only and Scottrade is not responsible for statements, offers, or products issued by Learning Markets. This third-party content and related research and tools are from sources deemed reliable; however, Scottrade does not guarantee accuracy or completeness of the information and makes no assurances with respect to results to be obtained from their use. The content was created and is being presented by employees or representatives of Learning Markets, LLC who are not employed by or affiliated with Scottrade or its affiliates. The information presented or discussed is not a recommendation or an offer of, or solicitation of an offer by, Scottrade or its affiliates to buy, sell or hold any security or other financial product or an endorsement or affirmation of any specific investment strategy. Your choice to engage in a particular investment or investment strategy should be based solely on your own research and evaluation of the risks involved, your financial circumstances and your investment objectives. Please research any product or service carefully before investing.
2Scottrade and Recognia are not affiliated. This third-party content and related research and tools are from sources deemed reliable; however, Scottrade does not guarantee accuracy or completeness of the information and makes no assurances with respect to results to be obtained from their use. The information presented or discussed is not a recommendation or an offer of, or solicitation of an offer by, Scottrade or its affiliates to buy, sell or hold any security or other financial product or an endorsement or affirmation of any specific investment strategy. Your choice to engage in a particular investment or investment strategy should be based solely on your own research and evaluation of the risks involved, your financial circumstances and your investment objectives. Please research any product or service carefully before investing.