# FIDX MARKETS LLC X-17A-5 (2026-03-20) — Broker-dealer annual report - Company: FIDX MARKETS LLC - Form: X-17A-5 - Filed: 2026-03-20 - Period: 2025-12-31 - Accession: 0001944015-26-000001 - CIK: 1944015 - File #: 8-70981 - Type: Broker-dealer - Material weakness: No - Auditor: Nawrocki Smith LLP - Auditor location: Hauppauge, NY - Contact: Michele Silvestro - Phone: 212-668-8700 - Email: msilvestro@acisecure.com - Website: acisecure.com - Signed by: Scott Bowers (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1944015/000194401526000001/fidxaudit.pdf --- {0}------------------------------------------------ | | UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 | | | OMB APPROVAL
OMB Number: 3235-0123
Expires: Nov. 30, 2026
Estimated average burden
hours per response: 12 | | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|------------------------------------------------------------|-----------------------------------------|-----------------------------------------------------------------------------------------------------------------------|--------------------------------------------| | | | ANNUAL REPORTS | | SEC FILE NUMBER | | | | | FORM X-17A-5 | | 8-70981 | | | | | PART III | | | | | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | FACING PAGE | | | | | | 12/31/2025
01/01/2025
FILING FOR THE PERIOD BEGINNING
AND ENDING | | | | | | | | MM/DD/YY | | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | FIDX Markets LLC
NAME OF FIRM. | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer
Check here if respondent is also an OTC derivatives dealer | | | _ Major security-based swap participant | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | 1000 Chesterbrook Blvd, Suite 100 | | | | | | | | | (No. and Street) | | | | | Berwyn | | PA | | 19312 | | | (City) | | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Michele Silvestro | | 212-668-8700 | | msilvestro@acisecure.com | | | (Name) | | (Area Code - Telephone Number) | | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Nawrocki Smith, LLP | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | 100 Motor Parkway, Suite 580 Hauppauge | | | NY | | 11788 | | (Address) | | (City) | (State) | | (Zip Code) | | March 4, 2009 | | | 3370 | | | | (Date of Registration with PCAOB)(if applicable) | | FOR OFFICIAL USE ONLY | | | (PCAOB Registration Number, if applicable) | | * Claims for exemption from the requirement that the annual 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-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. {1}------------------------------------------------ # OATH OR AFFIRMATION | Scott Bowers | swear (or affirm) that, to the best of my knowledge and belief, the | |-------------------------------------------------------------|---------------------------------------------------------------------| | financial report pertaining to the firm of FIDX Markets LLC | as of | 12/31 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: fitle: CEO Notary Public # This filing\*\* contains (check all applicable boxes): - (a) Statement of financial condition. - (b) Notes to consolidated statement of financial condition. - [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). - O (d) Statement of cash flows. - [ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - [ {f) Statement of changes in liabilities subordinated to claims of creditors. - [ {g) Notes to consolidated financial statements. - [ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - [ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - [] Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - [ {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 240.18a-4, as applicable. - [ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - [p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - (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. - [ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - | (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - (t) Independent public accountant's report based on an examination of the statement of financial condition. - [ (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - | (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 240.18a-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. - [ (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - [] (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - □ (z) Other: - \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e/(3) or 17 CFR 240.18a-7(d)(2), as applicable. {2}------------------------------------------------ # FidX Markets, LLC Statement of Financial Condition December 31, 2025 (With Report of Independent Registered Public Accounting Firm Thereon) {3}------------------------------------------------ FidX Markets, LLC December 31, 2025 ## Contents | Report of Independent Registered Public Accounting Firm | | |---------------------------------------------------------|-------| | Financial Statement | | | Statement of Financial Condition | D | | Notes to Financial Statement | 3 - 6 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of FidX Markets, LLC: # Opinion on the Financial Statement We have audited the accompanying statement of financial condition of FidX Markets, LLC (the "Company") as of December 31, 2025, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of FidX Markets, LLC as of December 31, 2025 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 the U.S. federal securities laws and the applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") 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. 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. We have served as FidX Markets, LLC's auditor since 2023. Hauppauge, New York March 17, 2026 Nawrocki Smith LLP {5}------------------------------------------------ # Statement of Financial Condition December 31, 2025 # ASSETS | Cash | ಕ್ಕಾ | 694,045 | |---------------------------------------|------|---------| | Accounts Receivable | | 73,251 | | Accrued Interest | | | | | | | | Prepaid expenses and other assets | | 22,748 | | TOTAL ASSETS | ક્તિ | 790,044 | | | | | | LIABILITIES AND MEMBER'S EQUITY | | | | LIABILITIES: | | | | Accounts payable and accrued expenses | ક | 105,026 | | Due to affiliate | | 21,314 | | | | | | TOTAL LIABILITIES | ಕಾ | 126,340 | | | | | | Member's Equity | | 663,704 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | ക | 790,044 | | | | | See accompanying notes to financial statement {6}------------------------------------------------ #### 1. Organization and Nature of Business FidX Markets, LLC (The "Company"), a Delaware Limited Liability Company that was formed on July 01, 2022, is a broker-dealer registered with the U.S. Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"), effective July 20, 2023. The Company does not clear trades nor carry customer accounts. The Company conducts investment banking activities, placement agent services, and corporate advisory services, and does not take custody of customer cash or securities. The Company maintains an offices in Berwyn, Pennsylvania. The Company is a wholly owned subsidiary of Fiduciary Exchange, LLC. #### 2. Summary of Significant Accounting Policies #### Basis of Accounting The financial statements are prepared using the accrual basis of accordance with accounting principles generally accepted in the United States of America ("GAAP"). ### Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. #### Cash The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash consists of funds maintained in checking and money market accounts held at financial institutions. The Company did not hold any cash equivalents as of year end. The Company's cash is held principally at one financial institution and at times may exceed federally insured limits. The Company has placed these funds in a high quality institution in order to minimize risk relating to exceeding insured limits. As of December 31, 2025 cash in excess of federally insured limits was \$444,045. ### Revenue Recognition #### Revenue from sale of insurance based products Revenue from sale of insurance based products consists of ongoing trailer fees that are recognized when earned based on the terms of their respective agreements. The Company received ongoing fees from having placed investors in a variable annuity and them maintaining the funds. Since the only performance obligation is the successful placement of funds, these trailer fees are earned over the lifetime of the investment as long as the investment is in the fund. #### Fee Income Fee income primarily consists of advisory fees and other service-based fees earned for providing advisory, administrative, or account-related services to clients. #### Receivables and contract balances Receivables arise when the Company has an unconditional right to receive payment under a contract with a customer and are realized when the cash is receivable balance as of the year ended December 31, 2025 was \$73,251. {7}------------------------------------------------ #### 2. Summary of Significant Accounting Policies #### Receivables and contract balances Receivables arise when the Company has an unconditional right to receive payment under a contract with a customer and are realized when the cash is receivable balance as of the year ended December 31, 2025 was \$73,251. #### Receivables and contract balances (cont.) Contract assets arise when the revenue associated with the contract is recognized prior to the Company's unconditional right to receive payment under a contract with a customer (i.e., unbilled receivable) and are realized when either it becomes a receivable or the cash is received. Contract assets are reported in the Statement of Financial Condition. As of December 31, 2025, contract asset balance was \$0. Contract liabilities arise when customers remit contractual cash payments in advance of the Company satisfying its performance obligations under the contract and are realized when the revenue associated with the contract is recognized when the performance obligation is satisfied. As of December 31, 2025, there were no contract liabilities. #### Significant Judgement Significant iudgement is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; and whether constraints on variable consideration should be applied due to uncertain future events. #### Income Taxes The Company is treated as a disregarded entity and has no direct federal, state, or city tax liabilities through December 31, 2025. The Company has adopted the tax provisions of Accounting for Uncertain Income Taxes which prescribes recognition thresholds that must before a tax position is recognized in the financial statements and provides guidance on de-recognition, classification, and interest and penalties. Under this guidance, an entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. At December 31, 2025, management has determined that the Company had no uncertain tax positions that would require financial statement recognition will always be subject to ongoing re-evaluation as facts and circumstances may require. ### 3. Significant Customer For the year ended Decemebr 31, 2025, approximately 95% of the Company's revenue was from three customers. #### 4 Indemnifications In the normal course of its business, the Company indemnifies and guarantees certain service providers against specified potential losses in connection with their acting as an agent of, or providing services to, the Company. The maximum potential amount of future payments that the Company could be required to make under these indemnifications cannot be estimated. However, the Company believes that it is unlikely it will have to make material payments under these arrangements and has not recorded any contingent liability in the financial statements for these indemnifications. {8}------------------------------------------------ #### 4. Indemnifications (cont.) The Company provides representations and warranties in connection with a variety of commercial transactions and occasionally indemnifies them against potential losses caused by the breach of those representations and warranties. These indemnifications generally are standard contractual terms and are entered into in the normal course of business. The maximum potential amount of future payments that the Company could be required to make under these indemnifications cannot be estimated. However, the Company believes that it is unlikely it will have to make material payments under these arrangements and has not recorded any contingent liability in the financial statements for these indemnifications. #### 5. Related Party Transactions The Company has entered into an expense sharing arrangement with an affiliate and incurs a monthly allocation of rent, wages and overhead costs from this affiliate. As of December 31, 2025 the intercompany balance owed to the affiliate was \$21,314, in accordance with a written expense sharing agreement with Fiduciary Exchange, LLC ("Parent"). In accordance with the expense sharing agreement, the Company pays the allocated expenses within 30 days of receipt of the invoice from the Parent. The company has also entered into an agreement to act as a payment processing agent on behalf of the Parent. The Parent invoices its clients for certain non-securities related transactions which are remitted to the company and are in turn disbursed back to the Parent. As of December 31, 2025, there was no amount owed to the Parent. #### 6. Accounts Receivable Accounts receivable are carried at net realizable value. Fees receivable are presented on the Statement of Financial Condition net of estimated allowance for expected credit losses. As of December 31, 2025 The Company had a receivable balance of \$73,251. As of December 31, 2025, the Company did not record any allowance for credit losses. #### 7. Net Capital Requirement The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 800% during the first year of operations and 1500% thereafter. At December 31, 2025, the Company had net capital of \$519,472, which was \$511,049 in excess of its required minimum net capital of \$8,423. The Company's percentage of aggregate indebtedness to net capital was 24%. #### 8. Commitments and Contingencies The Company had no commitments or contingent liabilities and had not been named as a defendant in any lawsuit as of December 31, 2025. {9}------------------------------------------------ #### 9. Segment Reporting The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of retail brokerage. As described in FASB ASU 2023-07, FASB 280, operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (the "CODM"). The Company's CODM is the Chief Executive Officer. The CODM reviews net loss and expenses presented on a basis consistent with the presentation of the statement of operations for purposes of making operating decisions, allocating resources, and evaluating financial performance. The measure of segment assets is reported on the statement of financial condition as total assets. As a result, the Company in its entirety has a single reportable segment. The accounting policies of the Company's single reportable segment is the same as those described in Note 2. #### 10. Going Concern The Company is subject to risks and uncertainties that could affect amounts reported in the Company's financial statements in future periods. The Company has operated with recurring losses and related negative operating cash flows. The Parent Company is committed to providing adequate capitalization through March 17, 2027, and liquidity to ensure the Company's business operations are Net Capital compliant. #### 11. Subsequent Events The Company has evaluated events and transactions that occurred between January 1, 2026 and March 17, 2026 which is the date the financial statements were available to be issued, for possible disclosure and recognition in the financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.