Rule 606 Report

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 2024

% 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
0.121	0.078	0.322	0.589	0.011
Aug
0.200	0.052	0.617	0.324	0.007
Sep
0.117	0.071	0.533	0.396	0.000

Detail 3rd Quarter 2024

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jul
COWN Rate Amount	0.580 - -	7.273 0.0000 0.00	0.000 0.0000 0.00	0.027 0.0000 0.00	0.000 0.0000 0.00
CPEM Rate Amount	89.517 - -	7.475 0.0016 10.31	93.525 0.0016 608.94	99.814 0.0016 1,193.38	0.000 0.0016 0.00
VALR Rate Amount	9.887 - -	85.253 0.0017 382.57	6.426 0.0017 14.88	0.159 0.0017 4.19	100.000 0.0017 7.10
OTHER Rate Amount	0.016 - -	0.000 0.0000 0.00	0.049 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
Aug
COWN Rate Amount	0.081 - -	1.550 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	92.236 - -	15.497 0.0016 215.81	96.809 0.0016 2,128.68	98.024 0.0016 1,605.76	0.000 0.0016 0.00
SPDR Rate Amount	0.048 - -	0.820 0.0000 0.00	0.000 0.0000 0.00	0.015 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	7.568 - -	82.042 0.0017 316.38	3.191 0.0017 108.83	1.961 0.0017 52.50	91.503 0.0017 44.46
VNDM Rate Amount	0.062 - -	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	8.497 0.0000 0.00
WALL Rate Amount	0.005 - -	0.091 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
Sep
COWN Rate Amount	0.628 - -	1.618 0.0000 0.00	0.086 0.0000 0.00	1.182 0.0000 0.00	0.000 0.0000 0.00
CPEM Rate Amount	86.216 - -	27.023 0.0016 535.14	88.813 0.0016 796.61	93.312 0.0016 902.19	0.000 0.0016 0.00
INET Rate Amount	0.057 - -	0.809 0.0030 6.00	0.000 0.0030 0.00	0.000 0.0020 0.00	0.000 0.0000 0.00
SPDR Rate Amount	2.179 - -	0.162 0.0000 0.00	2.717 0.0000 0.00	1.816 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	10.920 - -	70.388 0.0017 77.72	8.385 0.0017 130.90	3.690 0.0017 77.60	100.000 0.0017 8.55

Non S&P 500

Summary 3rd Quarter 2024

% 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
0.023	0.467	0.231	0.269	0.034
Aug
0.038	0.258	0.325	0.410	0.007
Sep
0.051	0.138	0.508	0.350	0.004

Detail 3rd Quarter 2024

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jul
COWN Rate Amount	12.874 - -	22.303 0.0000 0.000	3.509 0.0000 0.000	6.162 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	34.203 - -	27.661 0.0016 435.525	32.931 0.0016 271.573	50.927 0.0016 986.571	0.000 0.0016 0.000
INET Rate Amount	1.073 - -	1.846 0.0030 1,047.315	0.110 0.0030 6.000	0.692 0.0020 69.950	0.000 0.0000 0.000
SPDR Rate Amount	4.621 - -	7.096 0.0000 0.000	2.997 0.0000 0.000	2.295 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	45.151 - -	40.568 0.0017 680.204	57.675 0.0017 681.211	37.347 0.0017 757.951	85.139 0.0017 120.256
VNDM Rate Amount	1.107 - -	0.000 0.0000 0.000	0.219 0.0000 0.000	2.075 0.0000 0.000	14.861 0.0000 0.000
WALL Rate Amount	0.346 - -	0.525 0.0000 0.000	0.000 0.0000 0.000	0.377 0.0000 0.000	0.000 0.0000 0.000
OTHER Rate Amount	0.625 - -	0.000 0.0000 0.000	2.558 0.0000 0.000	0.126 0.0000 0.000	0.000 0.0000 0.000
Aug
COWN Rate Amount	10.743 - -	21.100 0.0000 0.000	4.811 0.0000 0.000	9.096 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	49.467 - -	13.192 0.0016 532.880	57.663 0.0016 1,027.581	66.670 0.0016 4,802.898	0.000 0.0016 0.000
INET Rate Amount	0.547 - -	0.977 0.0030 356.925	0.216 0.0030 37.203	0.547 0.0020 152.154	0.000 0.0000 0.000
NITE Rate Amount	0.005 - -	0.000 0.0000 0.000	0.014 0.0000 0.000	0.000 0.0000 0.000	0.000 0.0000 0.000
SPDR Rate Amount	2.426 - -	9.320 0.0000 0.000	0.014 0.0000 0.000	0.034 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	35.643 - -	53.873 0.0017 930.125	37.079 0.0017 1,291.024	22.182 0.0017 1,279.725	85.235 0.0017 60.534
VNDM Rate Amount	0.561 - -	0.000 0.0000 0.000	0.187 0.0000 0.000	0.969 0.0000 0.000	14.765 0.0000 0.000
WALL Rate Amount	0.598 - -	1.538 0.0000 0.000	0.000 0.0000 0.000	0.490 0.0000 0.000	0.000 0.0000 0.000
OTHER Rate Amount	0.009 - -	0.000 0.0000 0.000	0.014 0.0000 0.000	0.011 0.0000 0.000	0.000 0.0000 0.000
Sep
COWN Rate Amount	1.737 - -	9.530 0.0000 0.000	0.488 0.0000 0.000	0.499 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	76.379 - -	12.681 0.0016 1,437.674	85.184 0.0016 6,079.587	89.678 0.0016 7,186.794	0.000 0.0016 0.000
INET Rate Amount	0.321 - -	1.066 0.0030 804.660	0.165 0.0030 231.447	0.258 0.0020 539.800	0.000 0.0000 0.000
NITE Rate Amount	0.021 - -	0.000 0.0000 0.000	0.004 0.0000 0.000	0.054 0.0000 0.000	0.000 0.0000 0.000
OPCO Rate Amount	0.116 - -	0.000 0.0000 0.000	0.029 0.0000 0.000	0.288 0.0000 0.000	0.000 0.0000 0.000
SPDR Rate Amount	1.796 - -	3.775 0.0000 0.000	1.583 0.0000 0.000	1.346 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	18.854 - -	67.758 0.0017 979.657	12.502 0.0017 1,347.697	7.817 0.0017 1,292.206	96.172 0.0017 105.764
VNDM Rate Amount	0.046 - -	0.000 0.0000 0.000	0.021 0.0000 0.000	0.054 0.0000 0.000	3.828 0.0000 0.000
WALL Rate Amount	0.714 - -	5.176 0.0000 0.000	0.000 0.0000 0.000	0.000 0.0000 0.000	0.000 0.0000 0.000
OTHER Rate Amount	0.017 - -	0.015 0.0000 0.000	0.025 0.0000 0.000	0.006 0.0000 0.000	0.000 0.0000 0.000

Options

Summary 3rd Quarter 2024

% 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
0.133	0.213	0.633	0.154	0.000
Aug
0.053	0.197	0.548	0.254	0.000
Sep
0.146	0.072	0.768	0.159	0.000

Detail 3rd Quarter 2024

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jul
DFIN Rate Amount	100.000 0 -	100.000 0.0000 0.000	100.000 0.0000 0.000	100.000 0.0000 0.000	0.000 0.0000 0.000
Aug
DFIN Rate Amount	92.715 0 -	97.315 0.0000 0.000	95.411 0.0000 0.000	83.333 0.0000 0.000	0.000 0.0000 0.000
NFSC Rate Amount	7.020 0 -	2.685 0.0000 0.000	4.589 0.0000 0.000	15.625 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	0.265 0 -	0.000 0.0000 0.000	0.000 0.0000 0.000	1.042 0.0000 0.000	0.000 0.0000 0.000
Sep
CMSP Rate Amount	5.589 0 -	0.000 0.0000 0.000	4.254 0.0000 0.000	14.570 0.0000 0.000	0.000 0.0000 0.000
DFIN Rate Amount	26.467 0 -	98.058 0.0000 0.000	17.749 0.0000 0.000	35.982 0.0000 0.000	0.000 0.0000 0.000
NFSC Rate Amount	17.961 0 -	1.942 0.0000 0.000	22.690 0.0000 0.000	2.428 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	49.982 0 -	0.000 0.0000 0.000	55.306 0.0000 0.000	47.020 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).

S&P 500

Non S&P 500

Options

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