# BRUCE MARKETS LLC X-17A-5 (2025-03-20) — Broker-dealer annual report - Company: BRUCE MARKETS LLC - Form: X-17A-5 - Filed: 2025-03-20 - Period: 2024-12-31 - Accession: 0001767041-25-000003 - CIK: 1767041 - File #: 8-70286 - Type: Broker-dealer - Material weakness: No - Auditor: RSM US LLP - Auditor location: Chicago, IL - Contact: James Ward - Phone: 312-444-8000 - Email: jward@peak6.com - Website: peak6.com - Signed by: Andrew Tourney (Chief Compliance Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1767041/000176704125000003/BruceMarketsSOFC2024.pdf --- {0}------------------------------------------------ ![](_page_0_Picture_0.jpeg) # Statement of Financial Condition Bruce Markets LLC (formerly known as PEAK6 Trading LLC) Year Ended December 31, 2024 With Report of Independent Auditors {1}------------------------------------------------ #### **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** OMB APPROVAL OMB Number: ϯϮϯϱͲϬϭϮϯ Expires: EŽǀ͘ϯϬ͕ϮϬϮϲ Estimated average burden hours per response: # **ANNUAL REPORTS FORM X-17A-5 PART III** SEC FILE NUMBER 8-70286 | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FACING PAGE | | | | | | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------|--|-----------------|------------|--|--| | | 01/01/2024 | | | 12/31/2024 | | | | FILING FOR THE PERIOD BEGINNING _____________________ AND ENDING ______________________ | MM/DD/YY | | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | | | | Bruce
Markets
NAME OF FIRM: _______________________________________________________________________ | LLC | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
܆
܆
܆
Broker-dealer
Security-based swap dealer
Major security-based swap participant
■
܆ Check here if respondent is also an OTC derivatives dealer | | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | | 141
W
Jackson
Blvd.,
Ste
500 | | | | | | | | _____________________________________________________________________________________
(No. and Street) | | | | | | | | Chicago
_____________________________________________________________________________________ | Illinois | | 60604 | | | | | (City) | (State) | | | (Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | James
Ward
_____________________________________________________________________________________ | 312-444-8000 | | jward@peak6.com | | | | | (Name) | (Area Code – Telephone Number) | | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
RSM
US
LLP | | | | | | | | _____________________________________________________________________________________
(Name – if individual, state last, first, and middle name) | | | | | | | | 30
S
Wacker
Dr.,
Ste
_____________________________________________________________________________________ | 3300
Chicago | | lllinois | 60606 | | | | (Address) | (City) | | (State) | (Zip Code) | | | | 9/24/2003 | PCAOB
#49
_____________________________________________________________________________________ | | | | | | | (Date of Registration with PCAOB)(if applicable)
(PCAOB Registration Number, if applicable) | | | | | | | | * Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public | FOR OFFICIAL USE ONLY | | | | | | accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. **Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.** {2}------------------------------------------------ ![](_page_2_Picture_3.jpeg) - - - - - - - - - - - - - - - - - - - - - - - - - - - {3}------------------------------------------------ December 31, 2024 # Table of Contents | Report of Independent Registered Public Accounting Firm | 1 | | |---------------------------------------------------------|-----|--| | Statement of Financial Condition | 2 | | | Notes to Statement of Financial Condition | 3-5 | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm** To the Managing Member of Bruce Markets LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Bruce Markets LLC (the Company) as of December 31, 2024, and the related notes (collectively, the financial statement). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion. 1 We have served as the Company's auditor since 2021. Chicago, Illinois March 20, 2025 {5}------------------------------------------------ # Statement of Financial Condition #### December 31, 2024 | \$
548,617 | |--------------------------| | 140,763 | | \$
689,380 | | \$
115,714
41,428 | | 157,142 | | \$
532,238
689,380 | | | *See accompanying notes.* {6}------------------------------------------------ # Notes to Statement of Financial Condition #### **1. Organization and Nature of Business** Bruce Markets LLC (formerly PEAK6 Trading LLC) (the Company), a Delaware limited liability company, is a wholly owned subsidiary of Bruce Markets Holdings LLC (the Parent), which is a wholly owned subsidiary of PEAK6 Group LLC (Group). Group serves primarily as a holding and management company for its operating and investment subsidiaries. The Company is a registered broker and dealer in securities under the Securities Exchange Act of 1934 and a member of the Financial Industry Regulatory Authority, Inc. (FINRA). The Company became a broker-dealer on September 22, 2020, and has had limited operations. The Company, in connection with its activities as a broker-dealer, does not hold funds or securities for customers. Accordingly, the Company is exempt from SEC Rule 15c3-3 pursuant to provision (k)(2)(ii) of such rule. #### **2. Significant Accounting Policies** The preparation of the statement of financial condition in conformity with U.S. generally accepted accounting principles (U.S. GAAP) requires management to make estimates and assumptions that affect amounts reported in the statement of financial condition and accompanying notes. Management believes that the estimates utilized in preparing its statement of financial condition are reasonable and prudent. Actual results could differ from these estimates. #### **Cash** The Company considers cash to be cash in depository accounts with stable financial institutions, which have no history of defaults, nor have they had a previous issue with customer deposits and are FDIC insured. As of December 31, 2024, the Company has cash on deposit with financial institutions that exceed the federally insured (FDIC) balance by \$298,617. Based on the above factors, it has been determined that there is no material current expected credit loss under Accounting Standards Update, ("ASU"), No. 2016-13, Measurement of Credit Losses on Financial Instruments – Credit Losses ("ASC 326") for any cash deposits, including those segregated under federal and other regulations. #### **Segment Reporting** The Company is currently not engaged in active operations. The Company has identified its chief compliance officer as the chief operating decision maker ("CODM"), who uses excess net capital (see Note 5) to make operational decisions while maintaining capital adequacy. The Company's operations constitute a single operating segment and thus the CODM manages the business activities using information of the Company as a whole. {7}------------------------------------------------ # Notes to Statement of Financial Condition (continued) ### **2. Significant Accounting Policies (continued)** The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. The statement of financial condition represents the single reportable segment's financial information for the year ended December 31, 2024. #### **3. Related-Party Transactions** The Company and its affiliates are parties to an intercompany expense-sharing agreement that outlines the allocation of direct and indirect costs between the entities. The Company reimburses all direct costs paid by its affiliates, which are included in the respective line items on the statement of operations. At December 31, 2024, \$41,428 of amounts payable to affiliates is included in payable to affiliates on the statement of financial condition. The Company has an agreement with a related third-party vendor which provides oversight and project management-related services. At December 31, 2024, a payable of \$90,000 is included in accounts payable and other accrued liabilities on the statement of financial condition. The Company entered into a fully disclosed clearing agreement with an affiliate during the year. At December 31, 2024 a deposit has not been made at the clearing firm and no amounts are included in the statement of financial condition. ### **4. Commitments and Contingencies** #### **General Contingencies** In the ordinary course of business, the Company enters into contracts that contain a variety of representations and warranties that provide indemnifications to the counterparties under certain circumstances. The Company's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. The Company expects the risk of loss to be remote. {8}------------------------------------------------ # Notes to Statement of Financial Condition (continued) ### **5.Net Capital Requirements** The Company, as a registered broker-dealer with the Securities and Exchange Commission (SEC), is subject to the net capital requirements of the SEC Uniform Net Capital Rule 15c3-1 (the Rule) of the Securities and Exchange Act of 1934, administered by the SEC and FINRA. The Company is required to maintain net capital equal to the greater of 6 2/3% of aggregate indebtedness or \$100,000, as these terms are defined. On December 31, 2024, the Company had net capital of \$391,475, which was \$291,475 in excess of its required net capital of \$100,000. On December 31, 2024, its percentage of aggregate indebtedness to net capital was 41.92%. The Rule may effectively restrict advances to affiliates or capital withdrawals. ### **6.Subsequent Events** Management has evaluated the possibility of subsequent events existing in the Company's financial statements through the date of the statement of financial condition were available to be issued. On January 29, 2025, the Company received a capital contribution of \$1,000,000 from its Parent. The contribution was made to fund the business and ensure adequate net capital was maintained. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.