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 2nd Quarter 2022

% 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
0.047	0.831	0.093	0.052	0.023
May
0.041	0.948	0.038	0.009	0.005
Jun
0.023	0.554	0.306	0.137	0.004

Detail 2nd Quarter 2022

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Apr
CPEM Rate Amount	10.611 - -	4.474 0.0016 24.04	53.807 0.0016 90.50	35.909 0.0016 27.76	0.000 0.0016 0.00
SPDR Rate Amount	34.628 - -	38.017 0.0000 0.00	15.990 0.0000 0.00	29.545 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	53.458 - -	56.227 0.0017 99.59	30.203 0.0017 42.70	34.545 0.0017 43.72	89.899 0.0017 89.26
WABR Rate Amount	0.237 - -	0.000 0.0026 0.00	0.000 0.0026 0.00	0.000 0.0024 0.00	10.101 0.0011 1.93
OTHER Rate Amount	1.066 - -	1.282 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
May
CPEM Rate Amount	13.049 - -	13.524 0.0016 81.78	0.840 0.0016 0.16	20.690 0.0016 4.80	0.000 0.0016 0.00
VALR Rate Amount	86.414 - -	86.476 0.0017 182.56	97.479 0.0017 26.98	79.310 0.0017 19.42	0.000 0.0017 0.00
WABR Rate Amount	0.474 - -	0.000 0.0026 0.00	0.000 0.0026 0.00	0.000 0.0024 0.00	100.000 0.0011 0.88
OTHER Rate Amount	0.063 - -	0.000 0.0000 0.00	1.681 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
Jun
CPEM Rate Amount	10.944 - -	3.230 0.0016 3.74	2.570 0.0016 1.72	61.257 0.0016 24.04	0.000 0.0016 0.00
VALR Rate Amount	88.841 - -	96.641 0.0017 48.85	97.430 0.0017 90.36	38.743 0.0017 38.27	60.000 0.0017 0.26
WABR Rate Amount	0.143 - -	0.000 0.0026 0.00	0.000 0.0026 0.00	0.000 0.0024 0.00	40.000 0.0011 0.17
OTHER Rate Amount	0.072 - -	0.129 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 2nd Quarter 2022

% 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
0.060	0.269	0.110	0.616	0.005
May
0.065	0.405	0.108	0.480	0.007
Jun
0.039	0.469	0.251	0.266	0.013

Detail 2nd Quarter 2022

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Apr
CPEM Rate Amount	59.210 - -	19.270 0.0016 647.624	22.908 0.0016 1,333.088	83.563 0.0016 21,190.874	0.000 0.0016 0.000
INET Rate Amount	0.283 - -	0.768 0.0030 788.550	0.079 0.0030 0.750	0.109 0.0020 212.650	0.000 0.0000 0.000
NITE Rate Amount	0.059 - -	0.000 0.0000 0.000	0.377 0.0000 0.000	0.028 0.0000 0.000	0.000 0.0000 0.000
SPDR Rate Amount	11.167 - -	29.684 0.0000 0.000	6.823 0.0000 0.000	3.933 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	28.064 - -	49.083 0.0017 1,323.810	64.419 0.0017 1,568.828	12.031 0.0017 2,449.387	79.048 0.0017 58.198
WABR Rate Amount	0.823 - -	0.145 0.0026 25.480	4.800 0.0026 299.413	0.261 0.0024 330.588	20.952 0.0011 11.880
OTHER Rate Amount	0.394 - -	1.050 0.0000 0.000	0.595 0.0000 0.000	0.074 0.0000 0.000	0.000 0.0000 0.000
May
ARCA Rate Amount	0.119 - -	0.000 0.0030 0.000	0.117 0.0035 12.670	0.221 0.0020 141.454	0.000 0.0030 0.000
CPEM Rate Amount	53.236 - -	26.317 0.0016 1,255.702	21.341 0.0016 705.070	83.944 0.0016 11,616.696	0.000 0.0016 0.000
INET Rate Amount	0.807 - -	0.167 0.0030 1,505.475	1.329 0.0030 659.520	1.241 0.0020 1,471.384	0.000 0.0000 0.000
NITE Rate Amount	0.097 - -	0.037 0.0000 0.000	0.254 0.0000 0.000	0.115 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	44.409 - -	71.490 0.0017 3,471.531	75.943 0.0017 2,877.913	13.840 0.0017 2,783.329	84.615 0.0017 158.585
WABR Rate Amount	0.411 - -	0.413 0.0026 371.335	0.801 0.0026 18.244	0.097 0.0024 194.285	15.385 0.0011 32.544
OTHER Rate Amount	0.921 - -	1.575 0.0000 0.000	0.215 0.0000 0.000	0.543 0.0000 0.000	0.000 0.0000 0.000
Jun
CPEM Rate Amount	40.302 - -	35.400 0.0016 1,536.243	27.277 0.0016 834.147	62.815 0.0016 6,003.074	8.982 0.0016 5.600
INET Rate Amount	0.311 - -	0.221 0.0030 698.190	0.540 0.0030 288.417	0.270 0.0020 221.414	0.000 0.0000 0.000
NITE Rate Amount	0.020 - -	0.000 0.0000 0.000	0.063 0.0000 0.000	0.015 0.0000 0.000	0.000 0.0000 0.000
SPGS Rate Amount	0.004 - -	0.000 0.0000 0.000	0.016 0.0000 0.000	0.000 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	58.728 - -	63.937 0.0017 2,082.193	71.723 0.0017 6,023.210	36.706 0.0017 6,566.800	70.060 0.0017 200.327
WABR Rate Amount	0.475 - -	0.374 0.0026 70.330	0.000 0.0026 0.000	0.075 0.0024 53.280	20.958 0.0011 14.284
OTHER Rate Amount	0.160 - -	0.068 0.0000 0.000	0.381 0.0000 0.000	0.120 0.0000 0.000	0.000 0.0000 0.000

Options

Summary 2nd Quarter 2022

% 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
0.197	0.354	0.475	0.171	0.000
May
0.074	0.324	0.464	0.212	0.000
Jun
0.094	0.298	0.563	0.139	0.000

Detail 2nd Quarter 2022

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Apr
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
May
DFIN Rate Amount	97.297 0 -	100.000 0.0000 0.000	99.125 0.0000 0.000	89.172 0.0000 0.000	0.000 0.0000 0.000
MATRIX Rate Amount	2.703 0 -	0.000 0.0000 0.000	0.875 0.0000 0.000	10.828 0.0000 0.000	0.000 0.0000 0.000
Jun
DFIN Rate Amount	98.058 0 -	100.000 0.0000 0.000	100.000 0.0000 0.000	86.047 0.0000 0.000	0.000 0.0000 0.000
MATRIX Rate Amount	1.942 0 -	0.000 0.0000 0.000	0.000 0.0000 0.000	13.953 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)
DFIN
Matrix
NITE
Virtu/ITG (IAEC, ITGI, VALR)
Wall Street Access (WABR)

S&P 500

Non S&P 500

Options

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