Order Routing Report

SEC 11Ac1-6 - ChoiceTrade, Inc. 3rd Qtr, 2016

(Percentages of Total Non-Directed Orders Routed to Individual Route Venues)

ChoiceTrade 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 ChoiceTrade, sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of ChoiceTrade's relationship with the venues.

Securities Listed on New York Stock Exchange

Route Venues

Total (%)

Market (%)
Limit (%)
Other (%)
Total (%)
85
15
76
9
CITADEL 47 56 43 73
BANK OF NY 28 43 25 27
SPEEDROUTE
24
1
32
0

Securities Listed on The Nasdaq Stock Market

Route Venues
Total (%)
Market (%)
Limit (%)
Other (%)
Total (%)
88
11
85
4
CITADEL 47 57 44 77
SPEEDROUTE 28 2 33 0
BANK OF NY 25 41 23 24

Securities Listed on American Stock Exchange or Regional Exchanges

Route Venues
Total (%)
Market (%)
Limit (%)
Other (%)
Total (%)
88
11
85
4
SPEEDROUTE
41
0
42
0
CITADEL 37 58 36 85
BANK OF NY 22 42 22 5

Exchange-Listed Options

Route Venues
Total (%)
Market (%)
Limit (%)
Other (%)
Total (%)
100
3
95
2
MAXIM 33 46 35 15
NSDQ
17
3
17
1
PHLX
12
21
11
45
MIAX
12
11
12
2
BATS
8
2
9
2
ISE 7 1 7 1
CBOE
4
8
4
29
GEMINI
1
1
0
2
BOX
1
2
1
0
AMEX
1
2
1
2
ARCA 1 0 0 1
NOBO 1 0 1 0
CITI 1 3 1 0
CBOE2 1 0 1 0

Material Aspects of Relationship with Route Venues

I. Securities listed on the New York Stock Exchange:

CITADEL
ChoiceTrade receives payment for directing certain orders to Citadel. Payment ranges from zero to less than a penny per share depending on the type of order.

SPEEDROUTE
ChoiceTrade receives payment for directing certain orders to Speedroute. Payment ranges from zero to less than a penny per share depending on the type of order.

BANK OF NY
ChoiceTrade receives payment for directing certain orders to BANK OF NY. Payment ranges from zero to less than a penny per share depending on the type of order.

 

 

II. NASDAQ securities:

CITADEL
ChoiceTrade receives payment for directing certain orders to Citadel. Payment ranges from zero to less than a penny per share depending on the type of order.

SPEEDROUTE
ChoiceTrade receives payment for directing certain orders to Speedroute. Payment ranges from zero to less than a penny per share depending on the type of order.

BANK OF NY
ChoiceTrade receives payment for directing certain orders to BANK OF NY. Payment ranges from zero to less than a penny per share depending on the type of order.

 

 

III. Securities Listed on the American Stock Exchange or Regional Exchanges:

CITADEL
ChoiceTrade receives payment for directing certain orders to Citadel. Payment ranges from zero to less than a penny per share depending on the type of order.

SPEEDROUTE
ChoiceTrade receives payment for directing certain orders to Speedroute. Payment ranges from zero to less than a penny per share depending on the type of order.

BANK OF NY
ChoiceTrade receives payment for directing certain orders to BANK OF NY. Payment ranges from zero to less than a penny per share depending on the type of order.

 

 

IV. Exchange-Listed Options:

ChoiceTrade is charged a fee for directing certain orders and receives payment of zero to .85 per contract for certain other orders.

 

If you send a request via email to [email protected], we will tell you the identity of the venue to which your orders were routed for execution in the six month prior to the request, whether the orders were directed orders or non-directed orders, and the time of transactions, if any, that resulted from such orders.


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