Execution and Clearing

In this business, trading needs can change at a moment's notice. While one of your clients requires block trades, another might need simple executions. But while trades can vary, our commitment to seeking best execution never will.

Working with TD AMERITRADE means having access to major market centers. Our routing intelligence is combined with the speed of our proprietary routing technology. It dynamically sends orders to different market centers that seek to fill your order quickly and at the best available price.

TD AMERITRADE is obligated to seek the best price available for your order, taking into consideration current market conditions, such as the NBBO (National Best Bid and Offer), volume and liquidity. While we seek to get better prices for you, price improvement is not guaranteed and will not occur in all situations. TD AMERITRADE acts as agent. Orders are filled by independent third parties.

Market volatility, volume and system availability may delay account access and trade executions. Price can change quickly in fast market conditions, resulting in an execution price different from the quote displayed at order entry. Execution price, speed and liquidity and account access are affected by many factors, including market volatility, size and type of order and available market centers.

TD AMERITRADE, Inc., member FINRA/SIPC, receives clearing and custodial services from TD AMERITRADE Clearing, Inc., member FINRA/SIPC. TD AMERITRADE, Inc. and TD AMERITRADE Clearing, Inc. are subsidiaries of TD AMERITRADE Holding Corporation.