# ORTEX SECURITIES LLC X-17A-5 (2025-03-28) — Broker-dealer annual report - Company: ORTEX SECURITIES LLC - Form: X-17A-5 - Filed: 2025-03-28 - Period: 2024-12-31 - Accession: 0001943697-25-000002 - CIK: 1943697 - File #: 8-70978 - Type: Broker-dealer - Material weakness: No - Auditor: Mercurius & Associates LLP - Auditor location: New Delhi, K7 - Contact: Peter Hillerberg - Phone: 442039709801 - Email: peter@ortexsecurities.com - Website: ortexsecurities.com - Signed by: Peter Mattias Hillerberg (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1943697/000194369725000002/ortexpub123124.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL REPORTS FORM X-17A-5 PART** Ill **FACING PAGE** 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 SEC FILE NUMBER 8-70978 **Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** FILING FOR THE PERIOD BEGINNING \_ 0\_1 **/\_0\_1\_f2\_0\_2\_4 \_\_** AND ENDING **\_\_ 1\_2\_/\_3\_1\_/2\_0\_2\_4 \_\_** MM/DD/YY MM/DD/YY **A. REGISTRANT IDENTIFICATION** NAME OF FIRM: \_ O\_R\_T\_E\_X\_S\_E\_C\_ U\_R\_IT\_IE\_S\_LL\_C \_\_\_\_\_\_\_\_\_ \_ TYPE OF REGISTRANT (check all applicable boxes): 0 Broker-dealer D Security-based swap dealer D Major security-based swap participant D Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 11 **PARK** PLACE (No. and Street) **NEW YORK NY** 10007 (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING PETER MATTIAS HILLERBERG **+442039709801** PETER@ORTEXSECURITIES.COM (Name) (Area Code - Telephone Number) (Email Address) **B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* **MERCURIUS** & **ASSOCIATES** LLP (Name - if individual, state last, first, and middle name) A-94/8 WAZIRPUR INDUSTRIAL AREA MAIN RING ROAD **NEW DEL H** I DELHI 110052 (Address) (City) (State) (Zip Code) 2/10/2009 **3223** (Date of Registration with PCAOB)(if aoolicable) (PCAOB Registration Number, if applicable) **FOR OFFICIAL USE ONLY** 0MB APPROVAL • Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-S(e)(l)(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 0MB control number.** {1}------------------------------------------------ # Ortex Securities, LLC Financial Statement and Report of Independent Registered Public Accounting Firm Pursuant to Rule 17a-5 under the Securities Exchange Act of 1934 December 31, 2024 {2}------------------------------------------------ # Page(s) | Letter of Oath or Affirmation | | |---------------------------------------------------------|-------| | Report of Independent Registered Public Accounting Firm | 1 | | Statement of Financial Condition | 2 | | Notes to the Financial Statement | 3 - 5 | {3}------------------------------------------------ #### **OATH OR AFFIRMATION** | PETER MATTIAS HILLERBEREG
1, | swear (or affirm) that, to the best of my knowledge and belief, the | |-------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of ORTEX SECURITIES LLC | as of | | 12/31
2~ | is true and correct. I further swear (or affirm) that neither the company nor any | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | | as that of a customer. | | | | | | | Signature: | | | | | | | | ~
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···1~ct,/ My Comm. Expires Aug 17, 2027 • | | ii (a) Statement of financial condition.
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ii (b) Notes to consolidated statement of financial condition. | ••• Bondtd throuih National Notary Assn. a | | C
(c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of | | | comprehensive income (as defined in§ 210.1-02 of Regulation S-X). | | | 0
(d) Statement of cash flows. | | | 0
(e) Statement of changes in stockholders' or partners' or sole proprietor's equity. | | | (f) Statement of changes in liabilities subordinated to claims of creditors.
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(g) Notes to consolidated financial statements. | | | 0
(h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. | | | 0
(i) Computation of tangible net worth under 17 CFR 240.lBa-2. | | | U) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
0 | | | 0 | (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or | | Exhibit A to 17 CFR 240.18a-4, as applicable. | | | □ (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. | | | □ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. | | | □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR | | | 240.15c3-3(p)(2) or 17 CFR 240.lBa-4, as applicable. | | | □ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net | worth under 17 CFR 240.1Sc3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and t he reserve requirements under 17 | | CFR 240.1Sc3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences | | | exist. | | | D
(p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. | | | ii (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. | | | D
(r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | | D
(s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.lBa-7, as applicable. | | | ii (t) Independent public accountant's report based on an examination of the statement of financial condition. | | | D
(u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 | | | CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. | | | D | (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 | | CFR 240.17a-5 or 17 CFR 240.lBa-7, as applicable. | | | □ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 | | | CFR 240.18a-7, as applicable. | | - D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.1Sc3-le or 17 CFR 240.17a-12, as applicable. - D (y) Report describing any material inadequacies found to exist or found to have existed since the date of the p a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). D (z) Other: \_ \_\_\_\_\_\_ \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_J "\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5{e)(3) or 1l applicable. {4}------------------------------------------------ **MERCURIUS** **~ERCURIUS & ASSOCIATES LLP** Formerly known as AJSH & Co LLP **+91 11 -4559 6689** l\\_ **info@masllp.com B www.mc;1sllp.com** ~ **Report of Independent Registered Public Accounting Firm** **To the Members of Ortex Securities** #### **Opinion on the Financial Statement** We have audited t he accompanying statement of financial condit ion of t he Ortex Securities (the "Company ") as of December 31, 2024, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respect s, 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** The 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 t he Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company/Partnership in accordance with the U.S. federal securities laws and the applicable rules and regulations of t he 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 from material misstatement, whether due to error or fraud. 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 t he financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating t he overall presentation of the financial statement. We believe that our audit of t he financial statement provides a reasonable basis for our opinion. **Mercurius & Associates LLP** We have served as the Company's Auditor since 2023 New Delhi, India ~ 28 , 2 o 2 5 ![](_page_4_Picture_15.jpeg) LLPIN: AAG-1471 A-94/8, W azirpur Industrial Area New Delhi-110052, India {5}------------------------------------------------ # ORTEX SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2024 | \$
36,811 | |--------------| | 17,469 | | \$
54,280 | | | | \$
23,500 | | 2,024 | | \$
25,524 | | \$
28,756 | | \$
54,280 | | | The accompanying notes are an integral part of this financial statement. {6}------------------------------------------------ # ORTEX SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2024 # 1. Nature of Business Ortex Securities LLC (the "Company") is a Delaware limited liability company incorporated on May 3, 2022. The Company is wholly owned by its parent, Ortex Technologies LTD (the "Parent"), a company incorporated in the United Kingdom. The purpose of the Company is to carry on a general securities brokerage business. The Company has a minimum net capital of \$5,000. The Company is a registered broker-dealer under the Securities Exchange Act of 1934 with the Securities and Exchange Commission (the "SEC") as of September 9, 2022. The Company is also a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). # 2. Summary of Significant Accounting Policies The Company follows accounting principles generally accepted in the United States of America ("GAAP") as established by the Financial Accounting Standards Board ("FASB") to ensure consistent reporting of financial condition, results of operations, and cash flows. # Management Estimates and Assumptions The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Future events and their effects cannot be predicted with certainty: accordingly, accounting estimates require the exercise of judgment. Accounting estimates used in the preparation of these financial statements change as new events occur, as more experience is acquired, as additional information is obtained and as the operating environment changes. ### Revenue Recognition FASB Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers is a comprehensive revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. # Cash and Cash Equivalents The Company defines cash equivalents as overnight time deposits and short-term, highlyliquid investments with original maturities of three months or less at the time of purchase. At December 31, 2024, Cash and cash equivalents consisted solely of cash. {7}------------------------------------------------ # ORTEX SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2024 # Income Taxes The Company complies with FASB ASC 740, income taxes. The Company is treated as a disregarded entity for federal income tax purposes, in accordance with single member limited liability company rules. All tax effects of the Company's income or loss are passed through to the Parent. Therefore, no provision or liability for Federal Income Taxes is included in these financial statements. # Subsequent Events Management has evaluated the Company's events and transactions through the date the financial statements were available to be issued. The Company has determined that no subsequent events or transactions occurred during that period requiring recognition or disclosure. # 3. Capital Requirements The Company is subject to the SEC Uniform Net Capital Rule (SEC Rule 15c3-1), which requires the maintenance of minimum net capital. The SEC's requirement also provides that equity capital may not be withdrawn or cash dividends paid if certain minimum net capital requirements are not met. The Company computes its net capital requirements under the basic method provided for in SEC Rule 15c3-1. At December 31, 2024, the Company had net capital of \$11,287, which exceeded the minimum requirement of \$5,000 by \$6,287. Aggregated indebtedness to net capital was 226% for 2024. # 4. Commitments and Contingencies There are currently no asserted claims or legal proceedings against the Company, however, the nature of the Company's business subjects it to various claims, regulatory examinations, and other proceedings in the ordinary course of business. The ultimate outcome of any such action against the Company could have an adverse impact on the financial condition, results of operations, or cash flows of the Company. ### 5. Related Party Disclosure The Company follows ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions. Under our expense-sharing agreement, Ortex Technologies (the parent company of Ortex Securities) pays certain expenses on our behalf. These expenses are allocated to us and recorded in our financial statements. Major expenses include occupancy expense, salaries and wages, professional expenses and technology expense. ### 6. Concentrations of Credit Risk and Other Matters The Company maintains all of its cash in financial institutions. The Company has not experienced any losses in such account and believes it is not subject to any significant credit risk. ### See Report of Independent Registered Public Accounting Firm. {8}------------------------------------------------ # ORTEX SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2024 # 7. Segment Reporting Our chief operating decision maker is the Chief Executive Officer, who reviews operating results and financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The Company's purpose includes general securities business and constitutes a single reportable segment. An operating segment is a component of an entity that conducts business and incurs revenues and expenses for which discrete financial information is available that is reviewed by the chief operating decision maker, in assessing performance and making resource allocation decisions. The Company has a single operating segment and therefore a single reportable segment. The Company is organized as one operating segment in order to maximize the value of advice to clients by drawing upon the diversified expertise and broad relationships of senior professionals across the Company. The chief operating decision maker assesses performance and allocates resources based on broad considerations, including the market opportunity, available expertise across the Company and the strength and efficacy of professionals' collaboration, and not based upon profit or loss measures for the Company's separate product lines. # 8. FASB ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The FASB issued ASU 2023-07 on November 27, 2023, which is intended to improve reportable segment disclosure requirements. Under previous guidance, while entities were required to disclose segment revenue and measure of profit or loss, there has been limited disclosure around the reporting of segment expenses. In addition to enhanced disclosures about significant segment expenses, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The purpose of the amendments is to enable investors to better understand an entity's overall performance and assess potential future cash flows. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company has adopted the requirements of the expanded segment disclosures as of December 31, 2024. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.