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Septembr 30, 2004

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Rule 606 Quarterly Report

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

SEC-Required Report on Routing of Customer Orders
Washington, DC 20036 USA

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

21.77%

Limit orders as % of total non-directed orders

50.69%

Other orders as % of total non-directed orders

27.54%

Venues Receiving Significant Percentage of Total Non-Directed Orders:

Archipelago ECN

0.96%

Island ECN

1.49%

Schwab

92.54%

OES

4.91%

Direct Access Brokerage Services

0.09%

 

Information Concerning Significant Venues:

1. Archipelago ECN

Types of Orders Routed to Venue: 

Market orders as % of total orders

0.11%

Limit orders as % of total orders

1.86%

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 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

2.95%

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

90.97%

Limit orders as % of total orders

90.58%

Other orders as % of total other orders

97.39%

 

 

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

 

 

4. OES

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

8.92%

Limit orders as % of total orders

4.43%

Other orders as % of total other orders

2.61%

 

 

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

 

 

5. Direct Access Brokerage Services

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.00%

Limit orders as % of total orders

0.19%

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 the FINRAAQ Stock Market

Summary Statistics:

Non-directed orders as % of total customer orders

100%

Market orders as % of total non-directed orders

19.16%

Limit orders as % of total non-directed orders

68.44%

Other orders as % of total non-directed orders

12.40%

 

 

Venues Receiving Significant % of Total Non-Directed Orders:

Archipelago ECN

.0.87%

Island ECN

32.84%

GVRC

23.52%

OES

0.09%

Schwab

42.35%

Brokerage America

0.08%

Brut ECN

0.07%

Direct Access Brokerage Services

0.17%

 

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Information Concerning Significant Venues:

1. Archipelago ECN

Types of Orders Routed to Venue

 

Market orders as % of total mrkt. orders

0.09%

Limit orders as % of total orders

1.22%

Other orders as % of total other orders

0.14%

 

 

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

47.98%

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

49.18%

Limit orders as % of total orders

20.40%

Other orders as % of total other orders

1.08%

 

 

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

0.03%

Limit orders as % of total orders

0.13%

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

50.67%

Limit orders as % of total orders

29.83%

Other orders as % of total other orders

98.65%

 

 

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. Brokerage America

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.03%

Limit orders as % of total orders

0.10%

Other orders as % of total other orders

0.09%

 

 

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

 

 

7. Brut ECN 

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.00%

Limit orders as % of total orders

0.10%

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

 

 

8. Direct Access Brokerage Services

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.00%

Limit orders as % of total orders

0.24%

Other orders as % of total other orders

0.05%

 

 

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

12.83%

Limit orders as % of total non-directed orders

84.66%

Other orders as % of total non-directed orders

2.51%

 

 

Venues Receiving Significant % of Total Non-Directed Orders:

OES

5.73%

Archipelago ECN

0.53%

Schwab

91.69%

Island ECN

2.05%

 

 

Information Concerning Significant Venues:

1. OES

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

12.05%

Limit orders as % of total orders

4.59%

Other orders as % of total other orders

11.54%

 

 

 

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2. Archipelago ECN

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.56%

Limit orders as % of total orders

0.54%

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 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.

 

 

3. Schwab

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

87.38%

Limit orders as % of total orders

92.44%

Other orders as % of total other orders

88.46%

 

 

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

 

 

4. Island ECN 

Types of Orders Routed to Venue:

Market orders as % of total mrkt. orders

0.00%

Limit orders as % of total orders

2.43%

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.

 

 

Exchange-Listed Options

N/A

Types of Orders Routed to Venue:

 

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