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March 31, 2008

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AMEX / Network B Securities   I  Exchange Listed Options  I  

 

Rule 606 Order Routing Report

Low Trades,a division of Success Trade Securities, Inc.
1900 L Street NW
Suite 525
Washington, DC 20036

SEC-Required Report on Routing of Customer Orders
For Quarter Ending March 31, 2008

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 NASDAQ 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

22.51%

Limit orders as % of total non-directed orders

74.14%

Other orders as % of total non-directed orders

3.34%

Venues Receiving Significant Percentage of Total Non-Directed Orders:

Archipelago ECN

12.23%

Citigroup Global Markets

3.22%

NASDAQ

3.22%

Lehman Brothers

81.32%

 

 

Information Concerning Significant Venues:

1. Archipelago ECN

Types of Orders Routed to Venue: 

Market orders as % of total orders

0.29%

Limit orders as % of total orders

16.39%

Other orders as % of total other orders

0.40%

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing order flow to Archipeligo ("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. Citigroup Global Markets

Types of Orders Routed to Venue:

Market orders as % of total market orders

2.00%

Limit orders as % of total orders

3.62%

Other orders as % of total other orders

2.77%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to Citigroup Global Markets.

 

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3. NASDAQ

Types of Orders Routed to Venue:

Market orders as % of total market orders

0.00%

Limit orders as % of total limit orders

4.35%

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 NASDAQ. Payment is based on size of executed order and whether or not the order has added liquidity to the NASDAQ order book. Payment for qualifying orders during this period was $2.00 per thousand shares executed.

 

 

5. Lehman Brothers

Types of Orders Routed to Venue:

Market orders as % of total market orders

97.71%

Limit orders as % of total limit orders

75.64%

Other orders as % of total other orders

96.84%

 

 

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

 

 

Securities Listed On the NASDAQ Stock Market

Summary Statistics:

Non-directed orders as % of total customer orders

100.00%

Market orders as % of total non-directed orders

23.41%

Limit orders as % of total non-directed orders

71.79%

Other orders as % of total non-directed orders

4.80%

 

 

Venues Receiving Significant % of Total Non-Directed Orders:

Archipelago ECN

4.52

Citigroup Global Markets

1.34

E*Trade Capital Markets

15.71%

NASDAQ

24.55%

Knight Capital Markets

4.73%

Lehman Brothers

48.48%

Hudson Securities

0.66%

 

 

Information Concerning Significant Venues:

1. Archipelago ECN

Types of Orders Routed to Venue

 

Market orders as % of total market orders

0.06%

Limit orders as % of total orders

6.19%

Other orders as % of total other orders

1.19%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing order flow to Archipelago ("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. Citigroup Global Markets

Types of Orders Routed to Venue:

Market orders as % of total market. orders

1.22%

Limit orders as % of total limit orders

1.45%

Other orders as % of total other orders

0.30%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to Citigroup Global Markets

 

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3. E*Trade Capital Markets

Types of Orders Routed to Venue:

Market orders as % of total market orders

15.27%

Limit orders as % of total limit orders

15.49%

Other orders as % of total other orders

21.13%

 

 

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

 

 

5. NASDAQ

Types of Orders Routed to Venue:

Market orders as % of total market orders

0.00%

Limit orders as % of total limit orders

34.20%

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 NASDAQ. Payment is based on size of executed order and whether or not the order has added liquidity to the NASDAQ order book. Payment for qualifying orders during this period was $2.00 per thousand shares executed.

 

 

5. Knight Capital Markets

Types of Orders Routed to Venue:

Market orders as % of total mrkt orders

5.80%

Limit orders as % of total limit orders

4.18%

Other orders as % of total other orders

7.74%

 

 

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

 

 

6. Lehman Brothers

Types of Orders Routed to Venue:

Market orders as % of total market orders

77.64%

Limit orders as % of total limit orders

37.56%

Other orders as % of total other orders

69.64%

 

 

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

 

 

7. Hudson Securities

Types of Orders Routed to Venue:

Market orders as % of total market orders

0.00%

Limit orders as % of total limit orders

0.92%

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.

 

 

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

Summary Statistics:

Non-directed orders as % of total customer orders

100.00%

Market orders as % of total non-directed orders

13.36%

Limit orders as % of total non-directed orders

84.66%

Other orders as % of total non-directed orders

1.98%

 

 

Venues Receiving Significant % of Total Non-Directed Orders:

Archipelago ECN

12.83%

Citigroup Global Markets

6.33%

NASDAQ

5.53%

Knight Capital Markets

0.29%

Lehman Brothers

75.02%

 

 

Information Concerning Significant Venues:

1. Archipelago ECN

Types of Orders Routed to Venue:

Market orders as % of total market orders

0.00%

Limit orders as % of total limit orders

15.15%

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 Archipelago ("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. Citigroup Global Markets

Types of Orders Routed to Venue:

Market orders as % of total market orders

1.99%

Limit orders as % of total orders

7.13%

Other orders as % of total other orders

1.22%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities does not receive any payment for orders routed to Citigroup Global Markets

 

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3. NASDAQ

Types of Orders Routed to Venue:

Market orders as % of total market orders

0.00%

Limit orders as % of total orders

6.53%

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 NASDAQ. Payment is based on size of executed order and whether or not the order has added liquidity to the NASDAQ order book. Payment for qualifying orders during this period was $2.00 per thousand shares executed.

 

 

4. Knight Capital Markets

Types of Orders Routed to Venue:

Market orders as % of total market orders

0.90%

Limit orders as % of total limit orders

0.20%

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 Knight Capital Markets. Payment is based on typeand size of executed order.

   

5. Lehman Brothers

Types of Orders Routed to Venue:

Market orders as % of total market orders

97.11%

Limit orders as % of total limit orders

70.98%

Other orders as % of total other orders

98.78%

 

 

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

   

Exchange-Listed Options

Summary Statistics

Types of Orders Routed to Venue:

Non-directed orders as % of total customers orders

100.00%

Market orders as % of total non-directed orders

29.72%

Limit orders as % of total non-directed orders

70.28%

Other orders as % of total non-directed orders

0.00%

   

Venues Receiving Significant Venues

Citigroup Global Markets

1.89%

Lehman Brothers

98.11%

 

 

Information Concerning Significant Venues:

1. Citigroup Global Markets

Types of Orders Routed to Venue:

Market orders as a % of total market orders

2.80%

Limit orders as a percentage of total limit orders

1.50%

Other orders as a percentage ot total limit orders

0.00%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing options orders to Citigroup Global Markets. For more information on a particular order please email us at info@lowtrades.com

 

 

2. Lehman Brothers (TAL)

Types of Orders Routed to Venue:

Market orders as a % of total market orders

97.20%

Limit orders as a percentage of total limit orders

98.50%

Other orders as a percentage ot total limit orders

0.00%

 

 

Material Aspects of Relationship with Venue:
Success Trade Securities receives payment for directing options orders to Lehman Brothers. For more information on a particular order please email us at info@lowtrades.com

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