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March 31, 2004

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Securities
   I  Exchange Listed Options  I 

Rule 11Ac1-6 Quarterly Report

Success Trade Securities Inc.
1900 L Street NW
Suite 525
Washington, DC 20036

SEC-Required Report on Routing of Customer Orders
For Quarter Ending Mar 31, 2004

Success Trade Securities, Inc. has prepared this report pursuant to a U.S. Securities and Exchange Commission rule requiring all brokerage firms to make publicly available quarterly reports on their order routing practices. The report provides information on the routing of "non-directed orders" - any order that the customer has not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, Success Trade has selected the execution venue on behalf of its customers.

The report is divided into four sections:

  • Securities listed on the New York Stock Exchange and reported as a Network A eligible security
  • Securities listed on The FINRAaq Stock Market
  • Securities listed on the American Stock Exchange or regional exchanges and reported as a Network B eligible security
  • Exchange-listed options


For each section, this report identifies the venues most often selected by Success Trade, sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of Success Trade's relationship with the venues

 

Securities Listed on NYSE / Network A Eligible Security

Summary Statistics:

Non-directed orders as % of total customer orders

100%

Market orders as % of total non-directed orders

29.58%

Limit orders as % of total non-directed orders

59.23%

Other orders as % of total non-directed orders

11.19%

Venues Receiving Significant Percentage of Total Non-Directed Orders:

Archipelago ECN

0.21%

Island ECN

2.27%

Schwab

48.87%

Direct Access Brokerage Services

25.62%

OES

23.04%

 

Information Concerning Significant Venues:

1. Archipelago ECN

Types of Orders Routed to Venue: 

Market orders as % of total orders

0.00%

Limit orders as % of total orders

0.32%

Other orders as % of total other orders

0.13%

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing order flow to ARCA ECN. Payment is based on size of executed order and whether or not the order has added liquidity to the ARCA order book. Payment for qualifying orders during this period was $2.00 per thousand shares executed.

 

 

2. Island ECN 

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.00%

Limit orders as % of total orders

3.83%

Other orders as % of total other orders

0.00%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing order flow to ISLAND ECN. Payment is based on size of executed order and whether or not the order has added liquidity to the ISLAND order book. Payment for qualifying orders during this period was $2.00 per thousand shares executed.

 

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3. Schwab

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

55.55%

Limit orders as % of total orders

45.46%

Other orders as % of total other orders

49.21%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

 

 

4. Direct Access Brokerage 

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

18.32%

Limit orders as % of total orders

26.92%

Other orders as % of total other orders

38.03%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

 

 

5. OES

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

26.13%

Limit orders as % of total orders

23.47%

Other orders as % of total other orders

12.63%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

 

 

Securities Listed On the FINRAAQ Stock Market

Summary Statistics:

Non-directed orders as % of total customer orders

100%

Market orders as % of total non-directed orders

22.49%

Limit orders as % of total non-directed orders

71.13%

Other orders as % of total non-directed orders

6.39%

 

 

Venues Receiving Significant % of Total Non-Directed Orders:

Archipelago ECN

.0.65%

Island ECN

17.67%

GVRC

2.32%

OES

0.03%

Schwab

64.69%

Track

13.27%

Vandham

0.03%

Direct Access Brokerage Services

1.35%

 

 

 

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Information Concerning Significant Venues:

1. Archipelago ECN

Types of Orders Routed to Venue

 

Market orders as % of total mrkt. orders

0.44%

Limit orders as % of total orders

0.75%

Other orders as % of total other orders

0.17%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing order flow to ARCA ECN. Payment is based on size of executed order and whether or not the order has added liquidity to the ARCA order book. Payment for qualifying orders during this period was $2.00 per thousand shares executed.

 

 

2. Island ECN

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.00%

Limit orders as % of total orders

24.85%

Other orders as % of total other orders

0.00%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing order flow to ISLAND ECN. Payment is based on size of executed order and whether or not the order has added liquidity to the ISLAND order book. Payment for qualifying orders during this period was $2.00 per thousand shares executed.

 

 

3. GVRC

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

1.60%

Limit orders as % of total orders

2.75%

Other orders as % of total other orders

0.00%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing equity order flow to GVRC. Payment is based on size of executed order.

 

 

4. OES

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.02%

Limit orders as % of total orders

0.04%

Other orders as % of total other orders

0.00%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

 

 

5. Schwab

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

96.70%

Limit orders as % of total orders

51.53%

Other orders as % of total other orders

98.55%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

 

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6. Track

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.00%

Limit orders as % of total orders

18.66%

Other orders as % of total other orders

0.00%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing equity order flow to TRACK ECN. Payment is based on size of executed order and whether or not rhe order has added liquidity to the TRACK order book. Payment for qualifying orders during this period was $2.25 per thousand shares executed.

 

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7. Vandham

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.02%

Limit orders as % of total orders

0.03%

Other orders as % of total other orders

0.06%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

 

 

8. Direct Access Brokerage Services

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

1.22%

Limit orders as % of total orders

1.40%

Other orders as % of total other orders

1.23%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

Securities Listed on American Stock Exchange or Regional Exchanges/Network B Eligible Security

Summary Statistics:

Non-directed orders as % of total customer orders

100%

Market orders as % of total non-directed orders

17.35%

Limit orders as % of total non-directed orders

79.43%

Other orders as % of total non-directed orders

3.21%

 

 

Venues Receiving Significant % of Total Non-Directed Orders:

Direct Access Brokerage Services

29.47%

OES

27.42%

Archipelago ECN

0.37%

Attain

0.01%

Schwab

40.24%

Island ECN

2.49%

 

Information Concerning Significant Venues:

1. Direct Access Brokerage Services

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

21.36%

Limit orders as % of total orders

31.03%

Other orders as % of total other orders

34.87%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

 

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2. OES

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

39.74%

Limit orders as % of total orders

24.95%

Other orders as % of total other orders

21.84%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

 

 

3. Archipelago ECN 

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.07%

Limit orders as % of total orders

0.42%

Other orders as % of total other orders

0.77%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing order flow to ARCA ECN. Payment is based on size of executed order and whether or not the order has added liquidity to the ARCA order book. Payment for qualifying orders during this period was $2.00 per thousand shares executed.

 

 

4. Attain

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.00%

Limit orders as % of total orders

0.02%

Other orders as % of total other orders

0.00%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

 

 

5. Schwab 

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

38.82%

Limit orders as % of total orders

40.46%

Other orders as % of total other orders

42.53%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to this venue

 

 

3. Island ECN

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.00%

Limit orders as % of total orders

3.13%

Other orders as % of total other orders

0.00%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing order flow to ISLAND ECN. Payment is based on size of executed order and whether or not the order has added liquidity to the ISLAND order book. Payment for qualifying orders during this period was $2.00 per thousand shares executed.

 

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Exchange-Listed Options

N/A

Types of Orders Routed to Venue:

 

 

 

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