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Order Routing


SEC Rule 606
Disclosure of Order Routing Practices


NYSE Securities
Quarter Ending 12/31/2016*

Exchange Non-Directed Market Orders Limit Others
Total Wedbush Securities, Inc. Orders 100.00%    44.87%    16.21%    38.92%   
KCG HOLDINGS INC 62.41%    69.57%    62.76%    54.03%   
UBS SECURITIES LLC 28.87%    26.75%    23.79%    33.42%   

NASDAQ Securities
Quarter Ending 12/31/2016*

Exchange Non-Directed Market Orders Limit Others
Total Wedbush Securities, Inc. Orders 100.00%    32.99%    26.59%    40.42%   
KCG HOLDINGS INC 48.40%    58.19%    57.94%    34.12%   
UBS SECURITIES LLC 35.05%    31.15%    36.61%    37.22%   
WEDBUSH SECURITIES INC 8.78%    0.00%    0.00%    21.74%   
CITADEL GROUP 7.74%    10.66%    5.43%    6.87%   

American Stock Exchange (and Regional Exchanges)
Quarter Ending 12/31/2016*

Exchange Non-Directed Market Orders Limit Others
Total Wedbush Securities, Inc. Orders 100.00%     44.70%    18.44%    36.85%   
KCG HOLDINGS INC     55.11%    53.84%     58.35%    55.01%   
UBS SECURITIES LLC     43.46%    46.16%     41.22%    41.31%   

Listed Options
Quarter Ending 12/31/2016*

Exchange Non-Directed Market Order Limit Others
Total Wedbush Securities, Inc. Orders 100.00%    24.60%    66.94%    8.45%   
AUTOMATED TRADING DESK FINANCIAL SERVICES LLC, OPTIONS 61.95%    61.17%    61.37%    68.79%   
WOLVERINE EXECUTION SERVICES, LLC. - OPTIONS 19.24%    20.61%    19.13%    16.06%   
CITADEL GROUP, – OPTIONS 18.78%    18.22%    19.46%    15.00%   

*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 »