Material Aspects of Relationships with Venues    Print Print
    

Material Aspects of Relationships between Wedbush Securities, Inc. ("WS") and Market Venues

Automated Trading Desk Financial Services, LLC ("ATD"):    ATD 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 order flow payment from ATD.

KCG Holdings Inc ("KCG"):    KCG 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 KCG.

Citadel Securities:    Citadel Securities 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 Citadel Securities.

Option Exchanges:   WS sends order flow on options to Automated Trading Desk Financial Services, Wolverine Execution Services LLC, Citadel Securities, who are not employees of WS. WS may receive payment for option order flow from the various 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.

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 equity 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 equity 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.

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