Rule 606 Report | Triad Securities Corp.

Triad Securities Corp. has prepared these reports pursuant to SEC Reg NMS Rule 606 requiring all brokerage firms to make publicly available quarterly reports on their order routing practices. The reports provide information on the routing of "non-directed orders". This is any order that the customer has not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, Triad has selected the execution venue on behalf of its customers.

Pursuant to this rule, customers can request details on the identity of the venue to which the customer's orders were routed for execution. It is important to note that Triad does not have a program for internalizing order flow, accepting payment for order flow, or participating in a profit sharing relationship with any venue...

S&P 500

Summary 3rd Quarter 2026

% Non-Directed of All Orders	% Market of Non-Directed Orders	% Marketable Lmt of Non-Directed Orders	% Non-Marketable Lmt of Non-Directed Orders	% Other of Non-Directed Orders
Jul
2.209	52.073	10.017	29.016	8.895
Aug
3.613	64.241	16.820	13.549	5.390
Sep
1.647	83.955	8.500	2.689	4.857

Detail 3rd Quarter 2026

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jul
NFSC Rate Amount	19.171 - -	26.202 0.0000 0.00	37.931 0.0000 0.00	5.952 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	44.560 - -	55.224 0.0017 127.31	62.069 0.0017 12.49	2.381 0.0017 6.47	100.000 0.0017 13.42
WALL Rate Amount	35.406 - -	16.915 0.0000 0.00	0.000 0.0000 0.00	91.667 0.0000 0.00	0.000 0.0000 0.00
XOTH Rate Amount	0.864 - -	1.658 0.0000 0.80	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
Aug
COWN Rate Amount	38.926 - -	59.876 0.0000 0.00	2.618 0.0000 0.00	0.155 0.0000 0.00	0.000 0.0000 0.00
CPEM Rate Amount	17.198 - -	4.636 0.0016 33.68	35.287 0.0016 69.00	61.146 0.0016 82.20	0.000 0.0016 0.00
NFSC Rate Amount	5.117 - -	7.346 0.0000 0.00	2.369 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	36.997 - -	28.110 0.0017 212.12	58.853 0.0017 592.43	26.935 0.0017 447.37	100.000 0.0017 229.14
WALL Rate Amount	1.762 - -	0.033 0.0000 0.00	0.873 0.0000 0.00	11.765 0.0000 0.00	0.000 0.0000 0.00
Sep
CPEM Rate Amount	55.160 - -	65.599 0.0016 173.80	1.020 0.0016 0.16	0.000 0.0016 0.00	0.000 0.0016 0.00
NFSC Rate Amount	18.560 - -	17.045 0.0000 0.00	45.918 0.0000 0.00	12.903 0.0000 0.00	0.000 0.0000 0.00
RSKY Rate Amount	3.122 - -	0.000 0.0000 0.00	27.551 0.0000 0.00	29.032 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	22.290 - -	16.322 0.0017 85.98	25.510 0.0017 13.17	58.065 0.0017 5.73	100.000 0.0017 8.55
XOTH Rate Amount	0.867 - -	1.033 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00

Non S&P 500

Summary 3rd Quarter 2026

% Non-Directed of All Orders	% Market of Non-Directed Orders	% Marketable Lmt of Non-Directed Orders	% Non-Marketable Lmt of Non-Directed Orders	% Other of Non-Directed Orders
Jul
3.400	68.953	16.297	11.466	3.284
Aug
2.343	62.491	17.974	16.790	2.744
Sep
2.104	50.982	19.224	26.907	2.887

Detail 3rd Quarter 2026

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jul
COWN Rate Amount	10.160 - -	10.880 0.0000 0.000	13.953 0.0000 0.000	3.348 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	22.498 - -	28.749 0.0016 2,727.120	4.916 0.0016 389.472	16.339 0.0016 2,598.202	0.000 0.0016 0.000
NFSC Rate Amount	21.438 - -	17.669 0.0000 0.000	31.234 0.0000 0.000	36.317 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	43.088 - -	40.300 0.0017 1,641.523	48.259 0.0017 1,578.477	37.154 0.0017 812.086	96.696 0.0017 390.607
WALL Rate Amount	1.277 - -	1.549 0.0000 0.000	0.000 0.0000 0.000	1.820 0.0000 0.000	0.000 0.0000 0.000
XOTH Rate Amount	1.540 - -	0.853 0.0000 6,401.595	1.639 0.0000 30.000	5.022 0.0000 314.850	3.304 0.0000 0.000
Aug
COWN Rate Amount	16.866 - -	21.892 0.0000 0.000	11.943 0.0000 0.000	6.185 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	22.946 - -	29.867 0.0016 1,952.794	3.970 0.0016 220.222	21.251 0.0016 544.504	0.000 0.0016 0.000
NFSC Rate Amount	24.420 - -	12.849 0.0000 0.000	47.676 0.0000 0.000	46.579 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	23.979 - -	17.686 0.0017 1,186.689	36.281 0.0017 814.516	22.253 0.0017 847.539	97.252 0.0017 118.845
WALL Rate Amount	11.018 - -	17.324 0.0000 0.000	0.000 0.0000 0.000	1.140 0.0000 0.000	0.000 0.0000 0.000
XOTH Rate Amount	0.772 - -	0.381 0.0000 1,347.180	0.129 0.0000 15.000	2.592 0.0000 42.400	2.748 0.0000 0.000
Sep
COWN Rate Amount	15.246 - -	20.952 0.0000 0.000	20.945 0.0000 0.000	2.001 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	12.499 - -	19.608 0.0016 421.040	5.636 0.0016 238.682	5.274 0.0016 531.749	0.000 0.0016 0.000
INET Rate Amount	1.846 - -	0.288 0.0030 1,278.750	0.145 0.0030 11.250	6.209 0.0020 26.016	0.000 0.0000 0.000
NFSC Rate Amount	28.696 - -	21.747 0.0000 0.000	40.364 0.0000 0.000	36.607 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	35.757 - -	37.104 0.0017 534.178	31.309 0.0017 779.769	29.488 0.0017 460.311	100.000 0.0017 166.640
VNDM Rate Amount	5.523 - -	0.014 0.0000 0.000	0.327 0.0000 0.000	20.265 0.0000 0.000	0.000 0.0000 0.000
XOTH Rate Amount	0.433 - -	0.288 0.0000 0.000	1.273 0.0000 0.000	0.156 0.0000 0.000	0.000 0.0000 0.000

Options

Summary 3rd Quarter 2026

% Non-Directed of All Orders	% Market of Non-Directed Orders	% Marketable Lmt of Non-Directed Orders	% Non-Marketable Lmt of Non-Directed Orders	% Other of Non-Directed Orders
Jul
18.393	7.905	75.188	11.771	5.136
Aug
8.969	12.356	65.864	14.555	7.225
Sep
26.017	1.127	75.752	21.593	1.528

Detail 3rd Quarter 2026

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jul
DFIN Rate Amount	60.531 0 -	21.898 0.0000 0.000	61.857 0.0000 0.000	60.784 0.0000 0.000	100.000 0.0000 0.000
NFSC Rate Amount	26.428 0 -	77.372 0.0000 0.000	25.403 0.0000 0.000	10.294 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	13.041 0 -	0.730 0.0000 0.000	12.740 0.0000 0.000	28.922 0.0000 0.000	0.000 0.0000 0.000
Aug
DFIN Rate Amount	70.785 0 -	20.339 0.0000 0.000	78.219 0.0000 0.000	65.468 0.0000 0.000	100.000 0.0000 0.000
NFSC Rate Amount	27.225 0 -	77.966 0.0000 0.000	20.827 0.0000 0.000	26.619 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	1.990 0 -	1.695 0.0000 0.000	0.954 0.0000 0.000	7.914 0.0000 0.000	0.000 0.0000 0.000
Sep
DFIN Rate Amount	19.289 0 -	51.111 0.0000 0.000	19.180 0.0000 0.000	12.297 0.0000 0.000	100.000 0.0000 0.000
NFSC Rate Amount	13.352 0 -	46.667 0.0000 0.000	16.634 0.0000 0.000	1.044 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	67.360 0 -	2.222 0.0000 0.000	64.187 0.0000 0.000	86.659 0.0000 0.000	0.000 0.0000 0.000

Triad Securities Corp. (“Triad”) is a broker-dealer which executes customer orders as agent and receives remuneration for performing these execution services. In an effort to seek best execution, Triad routes client orders to national securities exchanges and other broker-dealers (venues or market centers). Based upon the fee schedule of those venues, certain market centers assess charges/fees for orders that take liquidity from their books and offer credits/rebates on a per share basis for orders that provide liquidity to their books (i.e. the maker/taker model). In some cases, it is possible that the credits/rebates offered by a market center to a broker-dealer to which Triad routes customer orders may exceed the charges/fees assessed over a period to that broker-dealer; such cases constitute payment for order flow. At times these destinations may share a portion of these payments with Triad. This does not affect Triad’s policy to route customer orders to the trading center where it believes clients will receive the best execution, taking into account price, reliability, market depth, quality of service, speed and efficiency. The trading centers that share a portion of their payments may provide the opportunity for execution of orders at prices better than the National Best Bid or National Best Offer.

Material aspects of relationships with the venues to which customer orders are routed:

NYSE ARCA
Fees and rebates are non-negotiable and are set by the exchange. The fee schedule may contain tiers based on volume thresholds. For NYSE ARCA a detailed fee schedule is available at the following url:
https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/NYSE_Arca_Marketplace_Fees.pdf

NASDAQ (INET)
Fees and rebates are non-negotiable and are set by the exchange. The fee schedule may contain tiers based on volume thresholds. For NASDAQ a detailed fee schedule is available at the following url:
https://www.nasdaqtrader.com/Trader.aspx?id=PriceListTrading2

Triad's agreements with the following broker-dealers do not contain volume-based tiers or minimum order flow requirements. Their fees listed above are a blended rate derived from exchange pass-thru fees/credits, clearing fees, liquidity fees and execution fees.

Clearpool (CPEM); Dash Financial (DFIN); Knight Securities (NITE); Matrix (REDG); Matrix Options (RSKY); PTR Inc. (PTR); RQD (CMSP); Trademax NYSE (WALL); Virtu/ITG (IAEC, ITGI, VALR); Wall Street Access (VNDM, WABR); Cowen and Company (COWN); Speedroute (SPDR); Fidelity (NFSC); Oppenheimer & Co. (OPCO); Janney Montgomery Scott (JANY); (ARCD) Arcadia Securities; (TFAS) Tradition Securities and Derivatives; Other (XOTH).