Griffiths McBurney Corp. SEC Rule 606

SEC RULE 606 of Regulation NMS Reports
On November 17, 2000, the Securities and Exchange Commission ("SEC") adopted two rules concerning disclosure of order-execution and routing practices. The second of those rules requires all broker-dealers that route orders in equity and option securities to make available quarterly reports that present a general overview of their routing practices. The reports must identify the significant venues to which customer orders were routed for execution during the applicable quarter and disclose the material aspects of the broker-dealer's relationship with such venues. In addition, the Rule requires broker-dealers to provide customers on request, a written copy of the report of the venues to which the customer's individual orders were routed. The SEC adopted the rules to increase the visibility of execution quality of the U.S. securities markets for public investors.

For purposes of the Rule, the term "customer order" is defined as any order that is not for the account of a broker-dealer. The definition of "customer order" excludes any order for a quantity of a security having a market value of at least $200,000 for equity orders and $50,000 for options orders. The Term "covered securities" includes exchange-listed equities and NASDAQ National Market securities as well as NASDAQ Small Cap equities and listed options. Large orders are excluded in recognition of the fact that a general overview of order routing practices is more useful for smaller orders that tend to be homogeneous.

Rule 606 of Regulation NMS applies to all types of orders (e.g., pre-opening orders and short sale orders), but broker-dealers must give an overview of their routing practices only for non-directed orders. The Rule defines a "non-directed order" as any customer order other than a directed order. A "directed order" is defined as a customer order that the customer specifically instructs the broker-dealer to route to a particular venue for execution. Consequently, all customer orders are non-directed orders in the absence of a specific customer instruction on where they are to be routed.

Griffiths McBurney Corp. (GMP Corp.) is a member of SIPC.

SEC RULE 606 of Regulation NMS Report on Routing on Institutional Customers Orders
GMP Corp. has prepared this report pursuant to U.S. Securities and Exchange Commission Rule 606 of Regulation NMS, which requires 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. Fort these non-directed orders, GMP Corp. has selected the execution venue on behalf of its customers. For purposed of the Rule, the term "customer orders" is defined as any orders that are not for the account of a broker-dealer.

The report is divided into three sections: one for securities listed on the New York Stock Exchanges, one for securities listing on the American Stock Exchange or regional exchanges and one for securities listed on the NASDAQ Stock Market, Inc. The report does not include exchange-listed options because GMP Corp. does not trade exchange-listed options. For each section, the report identifies the venue most often selected by GMP Corp.

NYSE
ORDERS ROUTED TO NON DIRECTED ORDERS* MATERIAL ASPECTS OF RELATIONSHIP
GMP Securities L.P. 100% Parent Company
Total Customer Orders 100%  
AMEX
ORDERS ROUTED TO NON DIRECTED ORDERS* MATERIAL ASPECTS OF RELATIONSHIP
GMP Securities L.P. 100% Parent Company
Total Customer Orders 100%  
NASDAQ
ORDERS ROUTED TO NON DIRECTED ORDERS* MATERIAL ASPECTS OF RELATIONSHIP
GMP Securities L.P. 100% Parent Company
Total Customer Orders 100%  
Further information will be made readily available in due course on this website when GMP Corp. completes the implementation initiative of an electronic trading and record keeping platform. In the meantime, should you require further details please contact us at (416) 943-6643 or 1(877) 622-6256 and we will be happy to provide all your trade details upon request.


SEC Rule 606 of Regulation NMS Reports Disclaimer

The reports and the other data information here (together the "Reports") are proprietary to Griffiths McBurney Corp. (GMP Corp.). In providing the Reports, GMP Corp. does not make or endorse any particular security of market participant.

THE REPORTS ARE "AS IS", "WITH ALL FAULTS". BECAUSE OF THE POSSIBILITY OF HUMAN AND MECHANICAL ERRORS AS WELL AS OTHER FACTORS, GMP Corp. DOES NOT GUARANTEE THE REPORTS AND DISCLAIMS ALL WARRANTIES, WETHER EXPRESS, IMPLIED OR STATUTORY, AS TO TIMELINESS, SEQUENCE, ACCURACY, AVAILABIITY, OR COMPLETENESS OF THE REPORTS, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, IN OR RELATED TO THE REPORTS OR THEIR USE.

GMP Corp. SHALL NOT BE LIABLE IN ANY WAY (WHETHER FOR NEGLIGENCE, BREACH OF CONTRACT, TORT, OR OTHERWISE) TO THE USER OR TO ANY OTHER INDIVIDUAL OR ENTIY FOR ANY UNAVAILABLIITY, DELAYS, INACCURACIES, ERRORS OR OMISSIONS IN THE REPORTS OR FOR ANY ACTIONS TAKEN IN RELIANCE THEREON FOR ANY DAMAGES, WHETHER IN TORT, CONTRACT OR OTHERWISE (UNLESS DUE TO WILLFUL TORTIOUS MISCONDUCT OR GROSS NEGLIGENCE) ARRISING THEREFROM, OR OCCASIONED THEREBY OR BY REASON OF NONPERFORMANCE, OMISSION, INTERUPTION, OR TERMINATION, OF THE REPORTS OR THE SERVICE BY WHICH THEY ARE PROVIDED FOR ANY CAUSE WHATSOEVER.

UNDER NO CIRCUMSTANCES WILL GMP Corp. BE LIABLE FOR ANY INDIRECT, PUNITIVE, SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES.

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