# FIDX MARKETS LLC X-17A-5 (2025-03-27) — Broker-dealer annual report - Company: FIDX MARKETS LLC - Form: X-17A-5 - Filed: 2025-03-27 - Period: 2024-12-31 - Accession: 0002013816-25-000057 - CIK: 1944015 - File #: 8-70981 - Type: Broker-dealer - Material weakness: No - Auditor: Nawrocki Smith, LLP - Auditor location: Hauppauge, NY - Contact: Chris Meyers - Phone: 212-668-8700 - Email: cmeyers@acisecure.com - Website: acisecure.com - Signed by: Scott Bowers (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1944015/000201381625000057/fidxpubaudit.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 FORM X-17A-5 PART Ill | SEC FILE NUMBER | | |-----------------|--| | 8-70981 | | ### FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FILING FOR THE
PERIOD BEGINNING | 01/01/2024 | AND ENDING | 12/31/2024 | | |-------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|---------------------------------------|---------------------------|-----------------------| | | MM/DD/YY | | | MM/DD/YY | | | A. REGISTRANT | IDENTIFICATION | | | | FIDX
NAME OF FIRM: | Markets
LLC | | | | | TYPE OF REGISTRANT (check all applicable
@
Broker-dealer
Ü
Ü Check here if respondent is also an OTC derivatives dealer | boxes):
Security-based swap
dealer | Ü | Major security-based swap | participant | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use | | a P.o. box no.) | | | | Chesterbrook
1000 | Blvd,
Suite
100 | | | | | | (No. and Street) | | | | | Berwyn | PA | | | 19312 | | (City) | (State) | | | (Zip Code) | | PERSON TO CONTACT | WITH REGARD TO THIS FILING | | | | | Meyers
Chris | 212-668-8700 | | | cmeyers@acisecure.com | | (Name) | (Area Code — Telephone Number) | | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANTwhose
LLP
Smith,
Nawrocki | | reports are contained in this filing* | | | | | (Name — if individual, state last, first, and middle name) | | | | | | | | | | | Suite
100
Motor
Parkway,
580 | Hauppauge | NY | 11788 | |---------------------------------------------------|--------------------------|---------|-------------------------------------------| | (Address) | (City) | (State) | (Zip code) | | 4, 2009
March | | 3370 | | | (Date of Registration with PCAOB
if a plicable | | | (PCAOB Re istration Number, if ap licable | | | USE ONLY
FOR OFFICIAL | | | \* 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 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
I | swear (or affirm) that, | knowledge and belief,
to the best of my
the | |--------------------------------------------------|-------------------------|---------------------------------------------------| | financial
pertaining to the firm of
report | FIDX Markets LLC | as of | 2 024 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. ![](_page_1_Picture_3.jpeg) Signature: Tit CEO # This filing\* \* contains (check all applicable boxes): - (a) Statement of financial condition. - (b) Notes to consolidated statement of financial condition. - Cl (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 5 210.1-02 of Regulation S-X). - (d) Statement of cash flows. - [3 (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - Cl (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. - (j) 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 ExhibitA to 17 CFR 240.18a-4, as applicable. - (l) Computation for Determination of PAB Requirements under Exhibit A to 5 240.15c3-3. - (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 or 17 CFR 240.18a-4, as applicable. - CI (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-I, 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 report or financial statements under 17 CFR 240.17+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 240.17+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 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - (y) Report describing any material inadequacies found to exist or 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. No ary Public {2}------------------------------------------------ **Statement of Financial Condition** **December 31, 2024** **(With Report of Independent Registered Public Accounting Firm Thereon)** {3}------------------------------------------------ December 31, 2024 ### **Contents** | Report of Independent Registered Public Accounting Firm | 1 | |---------------------------------------------------------|-------| | Financial Statement | | | Statement of Financial Condition | 2 | | Notes to Financial Statement | 3 - 5 | {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, 2024, 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, 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 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 26, 2025 {5}------------------------------------------------ #### Statement of Financial Condition December 31, 2024 #### **ASSETS** | Cash
Accounts Receivable
Accrued Interest
Prepaid expenses and other assets | \$
496,346
519
2,138
28,649 | |--------------------------------------------------------------------------------------|-----------------------------------------| | TOTAL ASSETS | \$
527,652 | | LIABILITIES AND MEMBER'S EQUITY | | | LIABILITIES:
Accounts payable and accrued expenses
Due to affiliate | \$
190,486
37,294 | | TOTAL LIABILITIES | \$
227,780 | | Member's Equity | 299,872 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | \$
527,652 | See accompanying notes to financial statement {6}------------------------------------------------ ### Notes to Financial Statement For the year ended December 31, 2024 #### **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 accounting in 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 date 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, 2024 cash in excess of federally insured limits was \$251,846. #### **Income Taxes** The Company is treated as a disregarded entity and has no direct federal, state, or city tax liabilities through December 31, 2024. The Company has adopted the tax provisions of Accounting for Uncertain Income Taxes which prescribes recognition thresholds that must be met 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, 2024, management has determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination will always be subject to ongoing re-evaluation as facts and circumstances may require. {7}------------------------------------------------ Notes to Financial Statement For the year ended December 31, 2024 #### **3. Significant Customer** For the year ended Decemebr 31, 2024, there were no significant 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. The Company provides representations and warranties to counterparties 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. Total costs allocated to the Company during the year ended December 31, 2024 were \$612,654. These amounts are primarily included in salaries and compensation related expenses and professional fess in the accompanying Statement of Operations. As of December 31, 2024 the intercompany balance owed to the affiliate was \$37,294, 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, 2024, 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, 2024 The Company had a receivable balance of \$519. {8}------------------------------------------------ Notes to Financial Statement For the year ended December 31, 2024 ## **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, 2024, the Company had net capital of \$235,575, which was \$220,390 in excess of its required minimum net capital of \$15,185. The Company's percentage of aggregate indebtedness to net capital was 97%. ### **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, 2024. ### **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. Subsequent Events** The Company has evaluated events and transactions that occurred between January 1, 2025 and March 26, 2025 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.