SEC Rule 606 - Order Routing Report
Success Trade Securities Inc.
1900 L Street NW Suite 525
Washington, DC 20036
SEC-Required Report on Routing of Customers Orders
For Quarter Ending June 30, 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 routing of "non-directed orders" - any
order that the customer has not specifically instructed to be routed to a
particular venue on behalf of its customers.
The report is divided into four sections: one for securities listed on the New
York Stock Exchange and reported as a Network A
eligible security; one for securities listed on the Nasdaq
Stock Market; one for securities listed on the American Stock Exchange or
regional exchanges and reported as a Network B eligible security; and one for
exchange-listed options. For each section, this report identifies the venues most
often selected by Success Trade Securities Inc., sets forth the percentage of
various types of orders routed to the venues, and discusses the material
aspects of Success Trade Securities Inc.'s relationship with the venues.
Sec Rule 606 Report
|
Non-directed orders as percentage of total customer orders |
100.00% |
|
Market orders as percentage of total non-directed orders |
19.94% |
|
Limit orders as percentage of total non-directed orders |
75.77% |
|
Other orders as percentage of total non-directed orders |
4.29% |
Venues Recieving
Significant Percentage of Total Non-Directed Orders:
|
ARCHIPELAGO |
12.74% |
|
CITIGROUP GLOBAL MARKETS |
29.05% |
|
NASDAQ |
1.08% |
|
KNIGHT CAPITAL MARKETS |
0.99% |
|
LEHMAN BROTHERS |
23.36% |
|
UBS CAPITAL MARKETS |
32.77% |
Information Concerning Significant Venues:
1. ARCHIPELAGO
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
0.11% |
|
Limit orders as a percentage of total limit orders |
16.77% |
|
Other orders as a percentage of total other orders |
0.25% |
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 a percentage of total market orders |
33.10% |
|
Limit orders as a percentage of total limit orders |
27.28% |
|
Other orders as a percentage of total other orders |
41.65% |
Material Aspects of Relationship with Venue:
Success
Trade Securities does not receive any payment for orders routed to Citigroup
Global Markets.
3. NASDAQ
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
0.00% |
|
Limit orders as a percentage of total limit orders |
1.43% |
|
Other orders as a percentage 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 a percentage of total market orders |
1.45% |
|
Limit orders as a percentage of total limit orders |
0.85% |
|
Other orders as a percentage of total other orders |
1.50% |
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.
5. LEHMAN BROTHERS
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
28.49% |
|
Limit orders as a percentage of total limit orders |
22.35% |
|
Other orders as a percentage of total other orders |
17.46% |
Material Aspects of Relationship with Venue:
Success
Trade Securities does not receive any payment for equity orders routed to
Lehman Brothers.
6. UBS CAPITAL MARKETS
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
36.86% |
|
Limit orders as a percentage of total limit orders |
31.33% |
|
Other orders as a percentage of total other orders |
39.15% |
Material Aspects of Relationship with Venue:
Success
Trade Securities does not receive any payment for orders routed to UBS Capital
Markets.
Sec Rule 11ac1-6 Report
|
Non-directed orders as percentage of total customer orders |
100.00% |
|
Market orders as percentage of total non-directed orders |
21.57% |
|
Limit orders as percentage of total non-directed orders |
73.85% |
|
Other orders as percentage of total non-directed orders |
4.58% |
Venues Recieving
Significant Percentage of Total Non-Directed Orders:
|
ARCHIPELAGO |
1.67% |
|
CITIGROUP GLOBAL MARKETS |
1.64% |
|
E*TRADE CAPITAL MARKETS |
50.10% |
|
NASDAQ |
32.08% |
|
KNIGHT CAPITAL MARKETS |
1.43% |
|
LEHMAN BROTHERS |
11.48% |
|
HUDSON SECURITIES |
0.01% |
|
UBS CAPITAL MARKETS |
1.59% |
Information Concerning Significant Venues:
1. ARCHIPELAGO
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
0.12% |
|
Limit orders as a percentage of total limit orders |
2.22% |
|
Other orders as a percentage 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 a percentage of total market orders |
1.74% |
|
Limit orders as a percentage of total limit orders |
1.61% |
|
Other orders as a percentage of total other orders |
1.69% |
Material Aspects of Relationship with Venue:
Success Trade
Securities does not receive any payment for orders routed to Citigroup Global
Markets.
3. E*TRADE CAPITAL MARKETS
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
78.68% |
|
Limit orders as a percentage of total limit orders |
40.17% |
|
Other orders as a percentage of total other orders |
75.49% |
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.
4. NASDAQ
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
0.00% |
|
Limit orders as a percentage of total limit orders |
43.44% |
|
Other orders as a percentage 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 a percentage of total market orders |
2.04% |
|
Limit orders as a percentage of total limit orders |
1.35% |
|
Other orders as a percentage 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 type and size of executed order.
6. LEHMAN BROTHERS
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
15.69% |
|
Limit orders as a percentage of total limit orders |
9.64% |
|
Other orders as a percentage of total other orders |
21.41% |
Material Aspects of Relationship with Venue:
Success
Trade Securities does not receive any payment for equity orders routed to
Lehman Brothers.
7. HUDSON SECURITIES
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
0.06% |
|
Limit orders as a percentage of total limit orders |
0.00% |
|
Other orders as a percentage of total other orders |
0.00% |
Material Aspects of Relationship with Venue:
Success
Trade Securities does not receive any payment for orders routed to Hudson
Securities.
8. UBS CAPITAL MARKETS
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
1.68% |
|
Limit orders as a percentage of total limit orders |
1.57% |
|
Other orders as a percentage of total other orders |
1.41% |
Material Aspects of Relationship with Venue:
Success
Trade Securities does not receive any payment for orders routed to UBS Capital
Markets.
Sec Rule 11ac1-6 Report
|
Non-directed orders as percentage of total customer orders |
100.00% |
|
Market orders as percentage of total non-directed orders |
10.59% |
|
Limit orders as percentage of total non-directed orders |
86.04% |
|
Other orders as percentage of total non-directed orders |
3.38% |
Venues Recieving
Significant Percentage of Total Non-Directed Orders:
|
ARCHIPELAGO |
19.42% |
|
CITIGROUP GLOBAL MARKETS |
27.19% |
|
NASDAQ |
1.09% |
|
LEHMAN BROTHERS |
22.76% |
|
UBS CAPITAL MARKETS |
29.55% |
Information Concerning Significant Venues:
1. ARCHIPELAGO
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
0.00% |
|
Limit orders as a percentage of total limit orders |
22.57% |
|
Other orders as a percentage 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 a percentage of total market orders |
30.56% |
|
Limit orders as a percentage of total limit orders |
26.29% |
|
Other orders as a percentage of total other orders |
39.58% |
Material Aspects of Relationship with Venue:
Success
Trade Securities does not receive any payment for orders routed to Citigroup
Global Markets.
3. NASDAQ
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
0.00% |
|
Limit orders as a percentage of total limit orders |
1.27% |
|
Other orders as a percentage 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. LEHMAN BROTHERS
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
28.24% |
|
Limit orders as a percentage of total limit orders |
21.79% |
|
Other orders as a percentage of total other orders |
30.21% |
Material Aspects of Relationship with Venue:
Success
Trade Securities does not receive any payment for equity orders routed to
Lehman Brothers.
5. UBS CAPITAL MARKETS
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
41.20% |
|
Limit orders as a percentage of total limit orders |
28.09% |
|
Other orders as a percentage of total other orders |
30.21% |
Material Aspects of Relationship with Venue:
Success
Trade Securities does not receive any payment for orders routed to UBS Capital
Markets.
Sec Rule 11ac1-6 Report
|
Non-directed orders as percentage of total customer orders |
100.00% |
|
Market orders as percentage of total non-directed orders |
14.43% |
|
Limit orders as percentage of total non-directed orders |
85.57% |
|
Other orders as percentage of total non-directed orders |
0.00% |
Venues Recieving
Significant Percentage of Total Non-Directed Orders:
|
CITIGROUP GLOBAL MARKETS |
0.51% |
|
LEHMAN BROTHERS |
99.49% |
Information Concerning Significant Venues:
1. CITIGROUP GLOBAL MARKETS
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
0.59% |
|
Limit orders as a percentage of total limit orders |
0.50% |
|
Other orders as a percentage of total other 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
Types of Orders Routed to Venue:
|
Market orders as a percentage of total market orders |
99.41% |
|
Limit orders as a percentage of total limit orders |
99.50% |
|
Other orders as a percentage of total other 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.