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Order Routing


SEC Rule 606
Disclosure of Order Routing Practices


NYSE Securities
Quarter Ending 03/31/2017*

Exchange Non-Directed Market Orders Limit Others
Total Wedbush Securities, Inc. Orders 100.00%    46.84%    16.53%    36.63%   
KCG HOLDINGS INC 60.06%    63.75%    62.71%    54.60%   
UBS SECURITIES LLC 27.89%    26.95%    21.38%    32.02%   
CITADEL GROUP 9.04%    9.30%    10.50%    8.04%   

NASDAQ Securities
Quarter Ending 03/31/2017*

Exchange Non-Directed Market Orders Limit Others
Total Wedbush Securities, Inc. Orders 100.00%    32.41%    30.84%    36.75%   
KCG HOLDINGS INC 48.97%    51.99%    62.40%    35.03%   
UBS SECURITIES LLC 36.54%    33.71%    28.86%    45.48%   
CITADEL GROUP 9.39%    14.18%    8.62%    5.83%   

American Stock Exchange (and Regional Exchanges)
Quarter Ending 03/31/2017*

Exchange Non-Directed Market Orders Limit Others
Total Wedbush Securities, Inc. Orders 100.00%     38.21%    24.30%    37.49%   
KCG HOLDINGS INC     68.45%    68.91%     75.45%    63.44%   
UBS SECURITIES LLC     29.30%    30.78%     22.14%    32.42%   

Listed Options
Quarter Ending 03/31/2017*

Exchange Non-Directed Market Order Limit Others
Total Wedbush Securities, Inc. Orders 100.00%    23.58%    70.09%    6.33%   
AUTOMATED TRADING DESK FINANCIAL SERVICES LLC, OPTIONS 52.40%    52.77%    51.95%    56.09%   
CITADEL GROUP, – OPTIONS 28.09%    27.13%    28.53%    26.75%   
WOLVERINE EXECUTION SERVICES, LLC. - OPTIONS 19.43%    20.10%    19.40%    17.16%   

*Wedbush Securities has prepared this report in accordance with U.S. Securities and Exchange Commission Exchange Act Rule 606 that requires broker/dealers to make public, quarterly reports containing certain information on their order routing practices. The report provides information on the routing of "non-directed orders" which is generally defined as any order that the client has not specifically instructed to be routed to a particular venue for execution. The firm’s figures include those from our Correspondent broker-dealer customer orders which were routed to Wedbush Securities.

Material Aspects of Relationships with Venues »