SEC Rule 11Ac1-6 Disclosure of Order Routing Information

SEC Rule 11Ac1-6 requires all US-registered broker-dealers that route orders in equity and equity option securities to make available quarterly reports that present a general overview of their routing practices. The reports must identify the significant venues to which customer orders were routed for execution during the applicable quarter, and disclose the material aspects of the broker-dealer's relationship with such venues. In addition, the rule requires broker-dealers to disclose, upon customer request, the venues to which the customer's individual orders were routed.

Newedge USA, LLC's (“Newedge”) equity and equity option order routing data is posted by the Transaction Auditing Group, Inc. ("TAG") , an independent information services provider. While Newedge seeks to ensure the accuracy of the data provided by TAG , it does not represent or warrant that such data is accurate. Newedge's equity and equity option order routing data is posted on TAG's website, a link to which is set forth below.

http://www.tagaudit.com