|
Material Aspects of Relationships between Wedbush Securities, Inc. ("WS") and Market Venues
American Stock Exchange ("ASE"): WS sends order flow in certain listed equity securities to ASE specialist who are not employees of WS. WS receives no compensation for order flow in listed equity securities routed to the ASE.
Chicago Stock Exchange ("CSE"): WS sends order flow in certain listed equity securities to CSE specialists who are not employees of WS. WS may receive payment in listed equity securities routed to CSE at various rates depending on the security's spread and tier category. Payments range from 0 to a maximum of 0.001 cents per share depending on tier and spread of security.
Credit Suisse Securities (USA) LLC ("CS"): CS is a broker-dealer registered with the U.S. Securities and Exchange Commission and makes markets in certain Nasdaq, OTC, and listed equity securities. WS receives no payment for order flow from CS.
Knight Capital Markets ("KCM"): KCM is a broker-dealer registered with the U.S. Securities and Exchange Commission and makes markets in certain listed equity securities. WS receives no payment for order flow from KCM.
Knight Equity Markets ("KEM"): Knight is a broker-dealer registered with the U.S. Securities and Exchange Commission and makes markets in certain NASDAQ and OTC securities. WS receives no payment for order flow from KEM.
New York Stock Exchange ("NYSE"): WS sends order flow in certain listed equity securities to NYSE specialists who are not employees of WS. The NYSE has publicly stated fees and rebates that WS will incur.
UBS Securities LLC ("UBS"): UBS is a broker-dealer registered with the U.S. Securities and Exchange Commission and makes markets in certain NASDAQ, OTC and listed securities. WS receives no order flow payment from UBS.
Wedbush Securities, Inc: WS sends order flow to its own market makers for certain NASDAQ, OTC and listed securities. WS's market makers execute, on a principal basis, orders routed to them by WS and other broker-dealers, and may have a profit or loss in connection with such transactions. In addition, orders routed to WS's market makers may be executed as riskless principal by crossing orders with other customers or market makers. WS's market makers do not make a profit or incur a loss in the execution of riskless principal transactions.
NYSE Arca ("ARCA"): ARCA is a national securities exchange registered with the SEC. ARCA has publicly stated fees and rebates that WS will incur.
Option Exchanges: WS sends order flow on options to the American Stock Exchange, Boston Option Exchange, Chicago Board of Options Exchange, International Securities Exchange, Nasdaq Exchange, NYSE Arca, Pacific Options Exchange, Philidelphia Stock Exchange, Citigroup, and Interactive Brokers and market makers or specialists who are not employees of WS. WS may receive payment for option order flow from the various exchanges or broker/dealers. Such payments are made by various groups and associations as set by the respective group or association and have ranged from 0 to a maximum of 75 cents per contract.
|
