SEC-Required Report on Routing of Customer Orders For Q1 2013

Transcription

1 SEC-Required Report on Routing of Customer Orders For Q 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, has selected the execution venue on behalf of its customers. The report is divided into four sections: one for securities listed on the New York Stock exchange, one for securities listed on The Nasdaq Stock Market, one for securities listed on the American Stock Exchange or regional exchanges, and one for exchange-listed options. For each section, this report identifies the venues most often selected by, sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of StockCross Financial Services, Inc. s relationship with the venues.

2 NYSE Listed Securities Summary LavaFlow, Inc % 48.95% 46.41% 74.21% 39.68% 38.39% 42.63% 24.09% 4.16% 3.70% 5.04% 0.48% 2.77% 4.32% 1.13% 1.21% 1.27% 1.88% 0.69% 0.00% 1.07% 0.00% 2.39% 0.00% 1.04% 1.34% 0.80% 0.00% 0.53% 0.79% 0.27% 0.00% 0.41% 0.63% 0.19% 0.00% 0.20% 0.00% 0.44% 0.00% % 51.24% 44.57% 4.19% NYSE Listed Securities UBS facilitates a communication link to StockCross for both transmitting orders and receiving execution *StockCross does not receive payment for order flow from. Knight facilitates a link between StockCross Financial Services and various market venues for both transmitting orders and receiving execution / / / / / / / LavaFlow, Inc. National Financial Services (NFS) is the clearing firm for cetain accounts of StockCross Financial Services. NFS facilitates a communication

3 NASDAQ Listed Securities Summary LavaFlow, Inc. Instinet LLC 47.35% 45.25% 50.69% 23.14% 42.23% 43.57% 39.30% 72.73% 3.45% 2.74% 4.33% 0.00% 2.07% 2.94% 1.33% 0.00% 1.63% 2.10% 1.04% 4.13% 0.97% 0.00% 1.98% 0.00% 0.83% 1.48% 0.24% 0.00% 0.76% 0.95% 0.61% 0.00% 0.46% 0.77% 0.17% 0.00% 0.14% 0.00% 0.28% 0.00% 0.11% 0.20% 0.02% 0.00% % 48.35% 49.07% 2.58% Nasdaq Listed Securities UBS facilitates a communication link to StockCross for both transmitting orders and receiving execution *StockCross does not receive payment for order flow from. Knight facilitates a link between StockCross Financial Services and various market venues for both transmitting orders and receiving execution / / / / / Two Sigma Securities, LLC / / LavaFlow, Inc. / Instinet LLC National Financial Services (NFS) is the clearing firm for certain accounts of StockCross Financial Services. NFS facilitates a communication

4 NYSE AMEX and Regional Exchange Listed Securities BATS Global Markets, Inc. NYSE ARCA 40.13% 54.91% 29.64% 87.50% 21.84% 19.08% 23.93% 8.33% 8.24% 4.43% 10.83% 0.00% 7.74% 4.62% 9.76% 4.17% 7.16% 6.94% 7.50% 0.00% 5.78% 4.43% 6.79% 0.00% 2.82% 3.85% 2.26% 0.00% 2.17% 1.73% 2.50% 0.00% 2.10% 0.00% 3.45% 0.00% 1.45% 0.00% 2.38% 0.00% 0.58% 0.00% 0.95% 0.00% % 37.53% 60.74% 1.74% NYSE AMEX and Regional Exchange Listed Securities UBS facilitates a communication link to StockCross for both transmitting orders and receiving execution *StockCross does not receive payment for order flow from. Knight facilitates a communication link to StockCross for transmitting orders and execution / / / / / / / BATS Global Markets, Inc. / NYSE ARCA National Financial Services (NFS) is the clearing firm for certain accounts of StockCross Financial Services. NFS facilitates a communication

5 Exchange Listed Options Summary NASDAQ OMX PHLX 27.25% 25.53% 26.88% 36.15% Pacific Stock Exchange Chicago Board Options Exchange NYSE Amex NASDAQ Option Market International Securities Exchange Boston Options Exchange BATS Options Exchange NYSE ARCA Chicago Board Options Exchange 2 NASDAQ OMX BX Miami International Securities Exchange 21.33% 8.30% 24.91% 3.26% 16.51% 11.41% 17.57% 13.93% 14.44% 28.39% 11.82% 17.63% 7.99% 4.21% 9.20% 0.44% 5.72% 5.12% 4.34% 25.63% 2.38% 9.14% 1.26% 1.93% 1.52% 3.18% 1.32% 0.44% 1.13% 0.06% 1.40% 0.00% 0.86% 2.85% 0.58% 0.15% 0.60% 1.49% 0.48% 0.15% 0.26% 0.32% 0.24% 0.30% % 13.72% 80.28% 6.00% Exchange Listed Options NASDAQ OMX PHLX / Pacific Stock Exchange / Chicago Board Options Exchange / NYSE Amex / NASDAQ Option Market / International Securities Exchange / Boston Options Exchange / BATS Options Exchange / NYSE ARCA / Chicago Board Options Exchange 2 / NASDAQ OMX BX / Miami International Securities Exchange StockCross routes all option orders to Interactive Brokers, National Financial Services, or UBS Securities LLC, (collectively the Vendors ). Each vendor in turn routes these orders on behalf of StockCross to the options exchange where it expects the best execution based on the national best bid and offer, volume, and speed of execution. Options exchanges may charge the vendors floor brokerage, and the vendors may in turn charge StockCross for their services. Vendors may rebate a proportion of floor brokerage charges; rebates averaged $0.10 per contract or less in the first quarter 2013.