Order Routing Quarterly Report SEC Rule 606 Order Routing Information:

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Damian Gregory
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1 Order Routing Quarterly Report SEC Rule 606 Order Routing Information: Report For Period 1/2/2015 To 04/2/2015 STOCK USA EXECUTION SERVICES, INC. (Stock USA) has prepared this report pursuant to a U.S. Securities and Exchange Commission rule requiring all brokerage firms to make publicly available 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). This report is divided into four sections: one for securities listed on the New York Stock Exchange, one for securities listed on The NASDAQ Stock, one for securities listed on the American Stock Exchange or regional exchanges. For each section, this report identifies the number of non-directed orders as a percentage of total customer orders. Securities Listed on New York Stock Exchange Summary Statistics: Non- as a percentage of total customer orders: 14.30% : 11.05% : 88.95% Other 0.0% Percentage of non-directed orders by venue: Venues Receiving Significant Percentage of Total Non- % of Total Nondirected Received Non- Non- Other Non- HIPPO 23.81% 20.72% 25.75% 0.00% ITGI 34.34% 29.24% 37.55% 0.00% LQPT 9.54% 7.86% 7.86% 0.00% PDQ 24.11% 22.38% 22.38% 0.00% POST 7.64% 19.80% 19.80% 0.00% XALL 0.28% 0.00% 0.00% 0.00% ZXDAG 0.28% 0.00% 0.00% 0.00%

2 Securities Listed on The Nasdaq Stock Summary Statistics: Non- directed orders as a percentage of total customer orders: 18.96% : 13.38% : 88.62% Other: 0.0% Percentage of non-directed orders by venue: Venues receiving Significant Percentage of Total Non- Total Non- Other HIPPO 24.47% 19.78% 26.93% 0.00% ITGI 33.26% 28.79% 35.60% 0.00% LQPT 8.56% 9.35% 8.15% 0.00% LYNX 0.01% 0.00% 0.01% 0.00% NYSE 0.01% 0.00% 0.01% 0.00% ONYX 0.01% 0.00% 0.01% 0.00% PDQ 26.79% 23.38% 28.57% 0.00% POST 6.42% 18.69% 0.00% 0.00% XALL 0.23% 0.00% 0.35% 0.00% XDAG 0.23% 0.00% 0.35% 0.00%

3 Summary Statistics: Securities Listed on American Stock Exchange or Regional Exchanges Non-directed orders as a percentage of total customer orders: 13.82% : 10.80% : 92.20% Other: 0.00% Venues Receiving Significant Percentage of Total Non- Total Non- Other HIPPO 20.35% 16.09% 23.04% 0.00% ITGI 35.46% 32.49% 37.33% 0.00% LQPT 12.72% 14.98% 11.29% 0.00% PDQ 26.02% 22.35% 28.34% 0.00% POST 5.46% 14.10% 0.00% 0.00%

4 Order Routing Quarterly Report SEC Rule 606 Order Routing Information Stock USA receives compensation on a per-share or per-contract basis for directing order flow to selected exchanges and broker-dealers. We post quarterly order routing execution reports at Price improvement is available under certain market conditions. Hard printed copies of the quarterly routing reports are available free of charge upon request. Stock USA customers typically choose their own execution venues by entering their orders through direct access order execution software. Non-directed orders are a relatively small percentage of our clients order flow. It is our policy to send non-directed orders to brokers, dealers, market makers, exchanges, and other execution venues with the ability to provide best execution consistent with adherence to SEC Regulation NMS. In some circumstances of non-directed order flow, Stock USA receives compensation for directing certain equity order flow to selected exchanges, market makers, brokers and dealers. Compensation is in the form of a per-share or per-contract payment. In cases in which orders are routed to exchanges, the rebates are paid according to rates posted on the exchanges websites, and the credits may help to offset other exchange charges, Exchange rebates are less than or equal to the equivalent of $0.03 per share. In cases when Stock USA s non-directed order flow is routed to market makers, the compensation is less than or equal to the equivalent of $0.01 per share. It should be noted that, consistent with the requirements of SEC Rule 606, the statistics capture only a small portion of Stock USA s order flow. This report is intended only to provide an overview of the firm s order routing practices for the orders not self-directed by our clients. Accordingly, the data is not a reliable basis upon which to access whether the firm or any trading venues to which the firm routes orders has satisfied its best execution obligation. Further, while we have taken care in preparing the data presented in this report, the data has not been audited and may contain errors. Any decision about whether to open an account or direct orders to Stock USA should not be based solely on the information presented in this report, but on a broader evaluation of the full range of services and products Stock USA offers.

5 In accordance with Regulation NMS, Rule 606(b)(1), a customer can request the identity of the venue to which the customer s orders were routed for execution, in the six months prior to the request, whether the orders were directed orders or non-directed orders, and the time of the transactions, if any, that resulted from such orders.

SEC Rule 606 Report & Rule 607 Disclosure

SEC Rule 606 Report & Rule 607 Disclosure SEC Rule 607 Disclosure SEC Rule 607 requires all registered broker-dealers to provide disclosures to customers of payment for order flow practices upon the opening of a new account and annually thereafter.