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 2nd 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
Apr
1.748	55.833	18.250	14.750	11.167
May
2.660	40.142	19.421	2.243	38.194
Jun
3.290	60.772	24.687	7.111	7.430

Detail 2nd Quarter 2026

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Apr
COWN Rate Amount	3.667 - -	3.284 0.0000 0.00	9.589 0.0000 0.00	0.565 0.0000 0.00	0.000 0.0000 0.00
CPEM Rate Amount	14.250 - -	25.522 0.0016 88.00	0.000 0.0016 0.00	0.000 0.0016 0.00	0.000 0.0016 0.00
NFSC Rate Amount	36.083 - -	26.269 0.0000 0.00	73.059 0.0000 0.00	54.802 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	45.917 - -	44.925 0.0017 30.76	17.352 0.0017 29.16	44.633 0.0017 36.55	99.254 0.0017 30.78
XOTH Rate Amount	0.083 - -	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	0.746 0.0000 0.00
May
CPEM Rate Amount	23.908 - -	37.647 0.0016 34.72	44.073 0.0016 24.70	10.526 0.0016 2.37	0.000 0.0016 0.00
NFSC Rate Amount	17.237 - -	18.235 0.0000 0.00	48.936 0.0000 0.00	18.421 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	58.796 - -	44.118 0.0017 58.97	6.687 0.0017 20.09	71.053 0.0017 108.59	100.000 0.0017 48.74
XOTH Rate Amount	0.059 - -	0.000 0.0000 0.00	0.304 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
Jun
COWN Rate Amount	1.039 - -	1.709 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
CPEM Rate Amount	42.290 - -	54.207 0.0016 754.82	18.554 0.0016 12.92	67.041 0.0016 47.24	0.000 0.0016 0.00
NFSC Rate Amount	10.839 - -	13.146 0.0000 0.00	6.580 0.0000 0.00	17.228 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	44.154 - -	30.938 0.0017 134.04	74.865 0.0017 127.38	15.730 0.0017 38.32	77.419 0.0017 45.83
VNDM Rate Amount	1.678 - -	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	22.581 0.0000 0.00

Non S&P 500

Summary 2nd 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
Apr
2.326	61.460	15.218	22.686	0.637
May
1.797	49.418	19.443	28.589	2.550
Jun
2.890	59.505	21.902	16.097	2.496

Detail 2nd Quarter 2026

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Apr
COWN Rate Amount	12.050 - -	17.598 0.0000 0.000	3.736 0.0000 0.000	2.934 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	34.707 - -	35.236 0.0016 4,146.019	21.456 0.0016 523.936	43.136 0.0016 3,563.008	0.000 0.0016 0.000
NFSC Rate Amount	22.356 - -	16.744 0.0000 0.000	38.474 0.0000 0.000	27.372 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	26.335 - -	28.168 0.0017 1,128.203	28.544 0.0017 710.339	17.820 0.0017 680.445	100.000 0.0017 103.113
WALL Rate Amount	3.168 - -	1.589 0.0000 0.000	3.480 0.0000 0.000	7.325 0.0000 0.000	0.000 0.0000 0.000
XOTH Rate Amount	1.385 - -	0.664 0.0000 3,131.580	4.310 0.0000 41.880	1.414 0.0000 99.190	0.000 0.0000 0.000
May
COWN Rate Amount	3.823 - -	5.282 0.0000 0.000	2.377 0.0000 0.000	2.624 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	43.993 - -	35.981 0.0016 1,251.144	30.123 0.0016 1,019.280	71.201 0.0016 2,205.787	0.000 0.0016 0.000
NFSC Rate Amount	23.140 - -	27.395 0.0000 0.000	29.599 0.0000 0.000	13.455 0.0000 0.000	0.000 0.0000 0.000
REDG Rate Amount	2.370 - -	0.000 0.0000 0.000	12.191 0.0000 0.000	0.000 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	25.150 - -	30.395 0.0017 853.417	24.691 0.0017 703.485	11.125 0.0017 523.373	84.235 0.0017 199.940
XOTH Rate Amount	1.524 - -	0.947 0.0000 878.550	1.019 0.0000 0.000	1.595 0.0000 0.000	15.765 0.0000 0.000
Jun
COWN Rate Amount	3.922 - -	5.894 0.0000 0.000	1.205 0.0000 0.000	0.934 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	22.287 - -	27.113 0.0016 2,436.422	13.471 0.0016 491.382	19.854 0.0016 965.862	0.294 0.0016 0.800
NFSC Rate Amount	34.000 - -	32.286 0.0000 0.000	38.588 0.0000 0.000	39.367 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	36.533 - -	33.395 0.0017 2,275.377	43.859 0.0017 2,217.921	31.466 0.0017 1,220.860	79.736 0.0017 244.616
XOTH Rate Amount	3.258 - -	1.312 0.0000 7,126.977	2.878 0.0000 57.837	8.379 0.0000 168.952	19.971 0.0000 0.000

Options

Summary 2nd 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
Apr
61.357	0.779	86.609	12.487	0.126
May
83.511	0.318	80.716	18.946	0.020
Jun
20.305	8.305	64.353	24.270	3.072

Detail 2nd Quarter 2026

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Apr
DFIN Rate Amount	3.164 0 -	8.854 0.0000 0.000	2.913 0.0000 0.000	3.574 0.0000 0.000	100.000 0.0000 0.000
NFSC Rate Amount	40.243 0 -	91.146 0.0000 0.000	43.463 0.0000 0.000	15.140 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	56.592 0 -	0.000 0.0000 0.000	53.623 0.0000 0.000	81.287 0.0000 0.000	0.000 0.0000 0.000
May
NFSC Rate Amount	4.187 0 -	81.379 0.0000 0.000	4.338 0.0000 0.000	2.256 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	95.232 0 -	0.000 0.0000 0.000	95.116 0.0000 0.000	97.420 0.0000 0.000	0.000 0.0000 0.000
XOTH Rate Amount	0.581 0 -	18.621 0.0000 0.000	0.546 0.0000 0.000	0.324 0.0000 0.000	100.000 0.0000 0.000
Jun
DFIN Rate Amount	33.750 0 -	36.530 0.0000 0.000	34.237 0.0000 0.000	23.125 0.0000 0.000	100.000 0.0000 0.000
NFSC Rate Amount	16.648 0 -	61.187 0.0000 0.000	16.971 0.0000 0.000	2.656 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	49.602 0 -	2.283 0.0000 0.000	48.792 0.0000 0.000	74.219 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).