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 1st 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
Jan
0.659	70.690	16.284	5.556	7.471
Feb
1.762	87.354	6.457	2.780	3.408
Mar
2.515	36.891	18.172	28.626	16.311

Detail 1st Quarter 2026

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jan
COWN Rate Amount	2.299 - -	3.252 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	12.069 - -	0.000 0.0016 0.00	40.000 0.0016 6.05	100.000 0.0016 3.75	0.000 0.0016 0.00
NFSC Rate Amount	33.142 - -	40.108 0.0000 0.00	29.412 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
REDG Rate Amount	3.640 - -	0.000 0.0000 0.00	22.353 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	48.467 - -	56.369 0.0017 58.16	7.059 0.0017 1.88	0.000 0.0017 0.00	100.000 0.0017 1.71
XOTH Rate Amount	0.383 - -	0.271 0.0000 0.00	1.176 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
Feb
COWN Rate Amount	4.574 - -	3.491 0.0000 0.00	0.000 0.0000 0.00	54.839 0.0000 0.00	0.000 0.0000 0.00
CPEM Rate Amount	62.242 - -	67.659 0.0016 1,474.40	44.444 0.0016 0.05	9.677 0.0016 0.00	0.000 0.0016 0.00
NFSC Rate Amount	14.260 - -	12.115 0.0000 0.00	55.556 0.0000 0.00	3.226 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	18.655 - -	16.735 0.0017 17.92	0.000 0.0017 0.00	32.258 0.0017 4.28	92.105 0.0017 0.86
XOTH Rate Amount	0.269 - -	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	7.895 0.0000 0.00
Mar
COWN Rate Amount	1.642 - -	4.451 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	25.014 - -	4.006 0.0016 2.40	20.783 0.0016 7.73	69.025 0.0016 207.79	0.000 0.0016 0.00
NFSC Rate Amount	25.616 - -	39.763 0.0000 0.00	37.349 0.0000 0.00	14.532 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	47.510 - -	51.780 0.0017 42.65	41.867 0.0017 27.21	16.444 0.0017 44.67	98.658 0.0017 60.70
XOTH Rate Amount	0.219 - -	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	1.342 0.0000 0.00

Non S&P 500

Summary 1st 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
Jan
1.527	44.324	27.601	26.477	1.597
Feb
1.476	47.561	25.005	25.135	2.299
Mar
2.042	44.781	26.038	27.463	1.718

Detail 1st Quarter 2026

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jan
COWN Rate Amount	2.178 - -	3.574 0.0000 0.000	1.990 0.0000 0.000	0.169 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	14.653 - -	14.916 0.0016 850.206	19.463 0.0016 415.467	10.084 0.0016 485.488	0.000 0.0016 0.000
NFSC Rate Amount	30.610 - -	34.818 0.0000 0.000	31.127 0.0000 0.000	24.873 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	37.247 - -	45.396 0.0017 1,050.780	41.865 0.0017 824.040	15.078 0.0017 576.289	98.800 0.0017 92.853
VNDM Rate Amount	1.054 - -	0.014 0.0000 0.000	0.046 0.0000 0.000	3.836 0.0000 0.000	1.200 0.0000 0.000
WALL Rate Amount	12.322 - -	0.706 0.0000 0.000	0.185 0.0000 0.000	45.163 0.0000 0.000	0.000 0.0000 0.000
XOTH Rate Amount	1.935 - -	0.576 0.0000 3,143.868	5.323 0.0000 2.010	0.796 0.0000 761.980	0.000 0.0000 0.000
Feb
COWN Rate Amount	2.169 - -	4.015 0.0000 0.000	0.029 0.0000 0.000	1.003 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	37.919 - -	24.712 0.0016 3,529.704	41.527 0.0016 815.230	62.787 0.0016 1,814.038	0.000 0.0016 0.000
NFSC Rate Amount	24.249 - -	30.591 0.0000 0.000	25.187 0.0000 0.000	13.532 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	27.153 - -	30.288 0.0017 918.964	28.963 0.0017 1,595.719	12.787 0.0017 530.271	99.687 0.0017 211.802
WALL Rate Amount	5.859 - -	9.848 0.0000 0.000	0.115 0.0000 0.000	4.558 0.0000 0.000	0.000 0.0000 0.000
XOTH Rate Amount	2.652 - -	0.545 0.0000 1,732.500	4.179 0.0000 1.500	5.333 0.0000 37.200	0.313 0.0000 0.000
Mar
COWN Rate Amount	6.709 - -	13.725 0.0000 0.000	0.110 0.0000 0.000	1.945 0.0000 0.000	0.000 0.0000 0.000
CPEM Rate Amount	18.967 - -	18.574 0.0016 468.000	18.928 0.0016 2,698.226	20.832 0.0016 1,744.259	0.000 0.0016 0.000
NFSC Rate Amount	41.708 - -	33.402 0.0000 0.000	50.254 0.0000 0.000	49.759 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	26.584 - -	33.120 0.0017 829.029	29.385 0.0017 1,058.928	10.835 0.0017 471.476	65.552 0.0017 167.195
VNDM Rate Amount	1.614 - -	0.000 0.0000 0.000	0.640 0.0000 0.000	3.137 0.0000 0.000	34.114 0.0000 0.000
WALL Rate Amount	3.636 - -	0.410 0.0000 0.000	0.022 0.0000 0.000	12.550 0.0000 0.000	0.000 0.0000 0.000
XOTH Rate Amount	0.781 - -	0.770 0.0000 691.650	0.662 0.0000 0.000	0.941 0.0000 41.600	0.334 0.0000 0.000

Options

Summary 1st 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
Jan
83.980	0.409	92.208	7.336	0.047
Feb
84.005	0.080	90.904	8.924	0.092
Mar
40.543	1.191	89.712	8.743	0.355

Detail 1st Quarter 2026

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jan
NFSC Rate Amount	95.219 0 -	98.500 0.0000 0.000	96.675 0.0000 0.000	77.347 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	4.186 0 -	0.500 0.0000 0.000	2.840 0.0000 0.000	21.343 0.0000 0.000	0.000 0.0000 0.000
XOTH Rate Amount	0.595 0 -	1.000 0.0000 0.000	0.485 0.0000 0.000	1.310 0.0000 0.000	100.000 0.0000 0.000
Feb
NFSC Rate Amount	86.103 0 -	61.538 0.0000 0.000	88.506 0.0000 0.000	62.732 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	13.304 0 -	2.564 0.0000 0.000	11.100 0.0000 0.000	35.984 0.0000 0.000	0.000 0.0000 0.000
XOTH Rate Amount	0.593 0 -	35.897 0.0000 0.000	0.394 0.0000 0.000	1.284 0.0000 0.000	100.000 0.0000 0.000
Mar
DFIN Rate Amount	1.718 0 -	2.482 0.0000 0.000	1.096 0.0000 0.000	4.008 0.0000 0.000	100.000 0.0000 0.000
NFSC Rate Amount	89.087 0 -	93.262 0.0000 0.000	91.021 0.0000 0.000	72.284 0.0000 0.000	0.000 0.0000 0.000
RSKY Rate Amount	9.195 0 -	4.255 0.0000 0.000	7.882 0.0000 0.000	23.708 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).