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 1st 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
Jan
0.859	0.397	0.042	0.561	0.000
Feb
0.907	0.530	0.027	0.442	0.000
Mar
0.897	0.515	0.032	0.453	0.000

Detail 1st Quarter 2022

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jan
CPEM Rate Amount	0.047 - -	0.078 0.0016 71.36	0.208 0.0016 11.20	0.013 0.0016 13.44	0.000 0.0016 0.00
REDG Rate Amount	0.024 - -	0.060 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
SPDR Rate Amount	99.744 - -	99.513 0.0000 0.00	99.070 0.0000 0.00	99.976 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	0.182 - -	0.349 0.0017 112.97	0.699 0.0017 47.63	0.008 0.0017 95.85	89.535 0.0017 13.85
WABR Rate Amount	0.003 - -	0.000 0.0026 0.00	0.017 0.0026 2.86	0.002 0.0024 2.40	10.465 0.0011 0.77
OTHER Rate Amount	0.000 - -	0.000 0.0000 0.00	0.006 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
Feb
CPEM Rate Amount	0.046 - -	0.080 0.0016 78.76	0.132 0.0016 24.00	0.000 0.0016 0.64	0.000 0.0016 0.00
SPDR Rate Amount	99.607 - -	99.423 0.0000 0.00	98.219 0.0000 0.00	99.980 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	0.345 - -	0.497 0.0017 424.30	1.649 0.0017 169.90	0.019 0.0017 28.63	96.266 0.0017 55.58
WABR Rate Amount	0.001 - -	0.000 0.0026 0.00	0.000 0.0026 0.00	0.000 0.0024 0.00	3.734 0.0011 3.30
OTHER Rate Amount	0.000 - -	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00	0.000 0.0000 0.00
Mar
CPEM Rate Amount	0.023 - -	0.042 0.0016 35.84	0.014 0.0016 3.20	0.001 0.0016 17.60	0.000 0.0016 0.00
SPDR Rate Amount	99.638 - -	99.568 0.0000 0.00	97.141 0.0000 0.00	99.921 0.0000 0.00	0.000 0.0000 0.00
VALR Rate Amount	0.338 - -	0.390 0.0017 66.88	2.792 0.0017 156.66	0.078 0.0017 265.52	100.000 0.0017 29.24
WABR Rate Amount	0.002 - -	0.000 0.0026 0.00	0.054 0.0026 1.30	0.000 0.0024 0.00	0.000 0.0011 0.00
OTHER Rate Amount	0.000 - -	0.000 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 1st 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
Jan
0.638	0.515	0.020	0.465	0.001
Feb
0.731	0.569	0.017	0.414	0.000
Mar
0.705	0.623	0.011	0.365	0.000

Detail 1st Quarter 2022

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jan
ARCA Rate Amount	0.000 - -	0.000 0.0030 0.000	0.003 0.0035 8.750	0.000 0.0020 0.000	0.000 0.0030 0.000
CPEM Rate Amount	1.589 - -	0.883 0.0016 3,222.288	4.123 0.0016 941.093	2.259 0.0016 9,700.597	3.815 0.0016 2.400
INET Rate Amount	0.018 - -	0.007 0.0030 1,947.765	0.270 0.0030 192.045	0.020 0.0020 729.928	0.000 0.0000 0.000
NITE Rate Amount	0.001 - -	0.001 0.0000 0.000	0.003 0.0000 0.000	0.001 0.0000 0.000	0.000 0.0000 0.000
REDG Rate Amount	0.029 - -	0.049 0.0000 0.000	0.050 0.0000 0.000	0.006 0.0000 0.000	0.000 0.0000 0.000
SPDR Rate Amount	96.383 - -	96.457 0.0000 0.000	77.845 0.0000 0.000	97.266 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	1.889 - -	2.525 0.0017 5,123.699	17.263 0.0017 3,930.028	0.411 0.0017 3,687.032	66.324 0.0017 523.764
WABR Rate Amount	0.047 - -	0.009 0.0026 490.724	0.188 0.0026 401.739	0.032 0.0024 1,459.222	29.861 0.0011 98.395
OTHER Rate Amount	0.043 - -	0.069 0.0000 0.000	0.255 0.0000 0.000	0.005 0.0000 0.000	0.000 0.0000 0.000
Feb
CPEM Rate Amount	0.513 - -	0.542 0.0016 2,121.403	2.316 0.0016 2,042.888	0.399 0.0016 2,432.851	0.000 0.0016 0.000
INET Rate Amount	0.012 - -	0.009 0.0030 3,019.890	0.061 0.0030 16.500	0.015 0.0020 1,499.194	0.000 0.0000 0.000
NITE Rate Amount	0.000 - -	0.000 0.0000 0.000	0.000 0.0000 0.000	0.000 0.0000 0.000	0.000 0.0000 0.000
SPDR Rate Amount	98.438 - -	98.575 0.0000 0.000	79.122 0.0000 0.000	99.073 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	0.977 - -	0.826 0.0017 1,921.614	17.670 0.0017 2,701.135	0.480 0.0017 4,977.974	62.791 0.0017 106.191
WABR Rate Amount	0.030 - -	0.003 0.0026 152.880	0.628 0.0026 361.312	0.029 0.0024 1,754.986	37.209 0.0011 30.415
OTHER Rate Amount	0.031 - -	0.046 0.0000 0.000	0.203 0.0000 0.000	0.003 0.0000 0.000	0.000 0.0000 0.000
Mar
CPEM Rate Amount	1.529 - -	0.343 0.0016 1,529.776	3.473 0.0016 550.144	3.495 0.0016 16,309.613	0.000 0.0016 0.000
INET Rate Amount	0.003 - -	0.001 0.0030 1,058.850	0.130 0.0030 90.228	0.003 0.0020 204.664	0.000 0.0000 0.000
NITE Rate Amount	0.001 - -	0.000 0.0000 0.000	0.025 0.0000 0.000	0.001 0.0000 0.000	0.000 0.0000 0.000
SPDR Rate Amount	97.561 - -	98.837 0.0000 0.000	76.024 0.0000 0.000	96.173 0.0000 0.000	0.000 0.0000 0.000
VALR Rate Amount	0.894 - -	0.816 0.0017 2,855.873	20.108 0.0017 2,478.775	0.324 0.0017 3,216.443	86.680 0.0017 302.841
WABR Rate Amount	0.010 - -	0.001 0.0026 33.800	0.185 0.0026 24.963	0.003 0.0024 99.883	13.320 0.0011 87.890
OTHER Rate Amount	0.003 - -	0.003 0.0000 0.000	0.055 0.0000 0.000	0.001 0.0000 0.000	0.000 0.0000 0.000

Options

Summary 1st 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
Jan
0.052	0.120	0.674	0.206	0.000
Feb
0.088	0.083	0.634	0.283	0.000
Mar
0.113	0.231	0.580	0.189	0.000

Detail 1st Quarter 2022

Venue	% Non Directed	% Market Orders	% Marketable Lmt Orders	% Non-Marketable Lmt Orders	% Other Orders
Jan
DFIN Rate Amount	98.286 0 -	100.000 0.0000 0.000	100.000 0.0000 0.000	91.667 0.0000 0.000	0.000 0.0000 0.000
MATRIX Rate Amount	1.714 0 -	0.000 0.0000 0.000	0.000 0.0000 0.000	8.333 0.0000 0.000	0.000 0.0000 0.000
Feb
DFIN Rate Amount	96.422 0 -	100.000 0.0000 0.000	98.925 0.0000 0.000	89.759 0.0000 0.000	0.000 0.0000 0.000
MATRIX Rate Amount	3.578 0 -	0.000 0.0000 0.000	1.075 0.0000 0.000	10.241 0.0000 0.000	0.000 0.0000 0.000
Mar
DFIN Rate Amount	99.514 0 -	100.000 0.0000 0.000	100.000 0.0000 0.000	97.423 0.0000 0.000	0.000 0.0000 0.000
MATRIX Rate Amount	0.486 0 -	0.000 0.0000 0.000	0.000 0.0000 0.000	2.577 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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