SEC Rule 11Ac1-6: Disclosure of Order Routing Practices

The SEC has adopted rules to improve public disclosure of order routing practices. Under Rule 11Ac1-6, broker-dealers that route customer orders in equity and option securities will made available to the public, the market centers to which non-directed customer orders were routed for execution. Broker-dealers will also disclosure the nature of their relationship to those market centers.

For the purpose of this Rule, our clearing firm Penson Financial Services has entered into an agreement with the Transaction Audit Group ("TAG") to disclose the required information pertaining to this rule. This information can be viewed at: http://www.tagaudit.com.