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Online Brokerage Order Routing Disclosure
Note: Broker-dealers are required to disclose any material arrangements with the venues listed in
each section below, including, but not limited to, any internalization or payment for order flow
arrangements.
CNS
CITY NATIONAL SECURITIES, INC.
400 NORTH ROXBURY DRIVE
BEVERLY HILLS, CA 90210
SEC Rule 606 Quarterly Report for the Quarter Ending September 30, 2011
Securities Listed on The New York Stock Exchange
Summary Statistics:
| Non-directed orders as percentage of total customer orders |
100.00% |
| Market orders as percentage of total non-directed orders |
63.64% |
| Limit orders as percentage of total non-directed orders |
31.69% |
| Other orders as percentage of total non-directed orders |
4.67% |
Venues Receiving Significant Percentage of Total Non-Directed Orders:
| 1. Knight Capital Markets, L.L.C. |
32.29% |
| 2. National Financial Services L.L.C. |
16.42% |
| 3. Citadel Derivatives Group, L.L.C. |
13.83% |
| 4. UBS Securities L.L.C. |
13.83% |
| 5. Citigroup Global Markets, Inc. |
5.09% |
| 6. BATS Exchange, Inc. |
5.01% |
| 7. NYSE Arca |
4.86% |
| 8. Direct Edge Exchange |
4.41% |
| 9. Goldman, Sachs & Co. |
2.45% |
| 10. AlterNet Securities Inc. |
1.20% |
Information Concerning Significant Venues:
| 1. Knight Capital Markets, L.L.C. |
 |
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
33.63% |
| |
|
Limit orders as percentage of total limit orders |
27.18% |
| |
|
Other orders as percentage of total other orders |
48.60% |
| 2. National Financial Services LLC |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
23.34% |
| |
|
Limit orders as percentage of total limit orders |
4.94% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 3. Citadel Derivatives Group LLC |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
15.55% |
| |
|
Limit orders as percentage of total limit orders |
9.64% |
| |
|
Other orders as percentage of total other orders |
18.99% |
| 4. UBS Securities, LLC |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
15.26% |
| |
|
Limit orders as percentage of total limit orders |
8.73% |
| |
|
Other orders as percentage of total other orders |
29.05% |
| 5. Citigroup Global Markets, Inc. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
6.44% |
| |
|
Limit orders as percentage of total limit orders |
2.64% |
| |
|
Other orders as percentage of total other orders |
3.35% |
| 6. BATS Exchange, Inc. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.00% |
| |
|
Limit orders as percentage of total limit orders |
15.82% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 7. NYSE Arca |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.00% |
| |
|
Limit orders as percentage of total limit orders |
15.32% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 8. Direct Edge Exchange |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.00% |
| |
|
Limit orders as percentage of total limit orders |
13.92% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 9. Goldman, Sachs & Co. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
3.24% |
| |
|
Limit orders as percentage of total limit orders |
1.24% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 10. AlterNet Securities Inc. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
1.89% |
| |
|
Limit orders as percentage of total limit orders |
0.00% |
| |
|
Other orders as percentage of total other orders |
0.00% |
Securities Listed on The Nasdaq Stock Market
Summary Statistics:
| Non-directed orders as percentage of total customer orders |
100.00% |
| Market orders as percentage of total non-directed orders |
58.49% |
| Limit orders as percentage of total non-directed orders |
32.82% |
| Other orders as percentage of total non-directed orders |
8.69% |
Venues Receiving Significant Percentage of Total Non-Directed Orders:
| 1. UBS Securities, L.L.C. |
29.81% |
| 2. Knight Equity Markets, L.P. |
18.61% |
| 3. Citadel Derivatives Group, L.L.C. |
16.54% |
| 4. National Financial Services, L.L.C. |
14.07% |
| 5. Direct Edge Exchange |
5.48% |
| 6. BATS Exchange, Inc. |
5.13% |
| 7. NYSE Arca |
4.05% |
| 8. Citigroup Global Markets, Inc. |
3.36% |
| 9. Nasdaq Execution Services, L.L.C. |
0.74% |
| 10. AlterNet Securities Inc. |
0.69% |
Information Concerning Significant Venues:
| 1. UBS Securities, L.L.C. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
29.37% |
| |
|
Limit orders as percentage of total limit orders |
20.75% |
| |
|
Other orders as percentage of total other orders |
67.05% |
| 2. Knight Equity Markets, L.P. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
20.68% |
| |
|
Limit orders as percentage of total limit orders |
11.43% |
| |
|
Other orders as percentage of total other orders |
31.82% |
| 3. Citadel Derivatives Group LLC |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
20.51% |
| |
|
Limit orders as percentage of total limit orders |
13.83% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 4. National Financial Services, L.L.C. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
21.69% |
| |
|
Limit orders as percentage of total limit orders |
4.21% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 5.
Direct Edge Exchange |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.00% |
| |
|
Limit orders as percentage of total limit orders |
16.69% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 6. BATS Exchange, Inc. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.00% |
| |
|
Limit orders as percentage of total limit orders |
15.64% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 7. NYSE Arca |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.00% |
| |
|
Limit orders as percentage of total limit orders |
12.33% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 8. Citigroup Global Markets, Inc. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
4.98% |
| |
|
Limit orders as percentage of total limit orders |
1.05% |
| |
|
Other orders as percentage of total other orders |
1.14% |
| 9. Nasdaq Execution Services, L.L.C. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.00% |
| |
|
Limit orders as percentage of total limit orders |
2.26% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 10. AlterNet Securities Inc. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.93% |
| |
|
Limit orders as percentage of total limit orders |
0.45% |
| |
|
Other orders as percentage of total other orders |
0.00% |
Securities Listed on NYSE Amex or Regional Exchanges
Summary Statistics:
| Non-directed orders as percentage of total customer orders |
100.00% |
| Market orders as percentage of total non-directed orders |
68.05% |
| Limit orders as percentage of total non-directed orders |
26.83% |
| Other orders as percentage of total non-directed orders |
5.12% |
Venues Receiving Significant Percentage of Total Non-Directed Orders:
| 1. Citadel Derivatives Group, L.L.C. |
28.64% |
| 2. Knight Capital Markets, L.L.C. |
28.11% |
| 3. UBS Securities, L.L.C. |
18.65% |
| 4. National Financial Services, L.L.C. |
15.30% |
| 5. NYSE Arca |
2.52% |
| 6. BATS Exchange, Inc. |
2.45% |
| 7. Direct Edge Exchange |
2.41% |
| 8. Citigroup Global Markets, Inc. |
1.54% |
| 9. AlterNet Securities Inc. |
0.26% |
| 10. Instinet L.L.C. |
0.08% |
Information Concerning Significant Venues:
| 1. Citadel Derivatives Group LLC |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
27.85% |
| |
|
Limit orders as percentage of total limit orders |
32.16% |
| |
|
Other orders as percentage of total other orders |
20.59% |
| 2. Knight Capital Markets, L.L.C. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
28.41% |
| |
|
Limit orders as percentage of total limit orders |
28.09% |
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|
Other orders as percentage of total other orders |
24.26% |
| 3. UBS Securities, L.L.C. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
19.44% |
| |
|
Limit orders as percentage of total limit orders |
10.11% |
| |
|
Other orders as percentage of total other orders |
52.94% |
| 4. National Financial Services, L.L.C. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
21.93% |
| |
|
Limit orders as percentage of total limit orders |
1.40% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 5. NYSE Arca |
|
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Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.06% |
| |
|
Limit orders as percentage of total limit orders |
9.27% |
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|
Other orders as percentage of total other orders |
0.00% |
| 6. BATS Exchange, Inc. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.00% |
| |
|
Limit orders as percentage of total limit orders |
9.13% |
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|
Other orders as percentage of total other orders |
0.00% |
| 7. Direct Edge Exchange |
|
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Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.00% |
| |
|
Limit orders as percentage of total limit orders |
8.99% |
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|
Other orders as percentage of total other orders |
0.00% |
| 8. Citigroup Global Markets, Inc. |
|
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Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
1.83% |
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|
Limit orders as percentage of total limit orders |
0.70% |
| |
|
Other orders as percentage of total other orders |
2.21% |
| 9.
AlterNet Securities Inc. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.33% |
| |
|
Limit orders as percentage of total limit orders |
0.14% |
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|
Other orders as percentage of total other orders |
0.00% |
| 10. Instinet L.L.C. |
|
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Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.11% |
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|
Limit orders as percentage of total limit orders |
0.00% |
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|
Other orders as percentage of total other orders |
0.00% |
Exchange - Listed Options
Summary Statistics:
| Non-directed orders as percentage of total customer orders |
100.00% |
| Market orders as percentage of total non-directed orders |
59.64% |
| Limit orders as percentage of total non-directed orders |
40.36% |
| Other orders as percentage of total non-directed orders |
0.00% |
Venues Receiving Significant Percentage of Total Non-Directed Orders:
| 1. The Boston Option Exchange |
24.80% |
| 2. The Chicago Board Options Exchange |
17.83% |
| 3. NASDAQ OMX PHLX |
16.69% |
| 4. NYSE Amex Options |
16.37% |
| 5. NYSE Arca Options |
7.94% |
| 6. BATS Options Exchange, Inc. |
5.67% |
| 7. The International Securities Exchange |
5.67% |
| 8. Nasdaq Execution Services, L.L.C. |
4.05% |
| 9. C2 Options Exchange |
0.97% |
Information Concerning Significant Venues:
| 1. The Boston Option Exchange |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
41.03% |
| |
|
Limit orders as percentage of total limit orders |
0.80% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 2. The Chicago Board Options Exchange |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
12.23% |
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|
Limit orders as percentage of total limit orders |
26.10% |
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|
Other orders as percentage of total other orders |
0.00% |
| 3. NASDAQ OMX PHLX |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
10.33% |
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|
Limit orders as percentage of total limit orders |
26.10% |
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|
Other orders as percentage of total other orders |
0.00% |
| 4. NYSE Amex Options |
|
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Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
20.65% |
| |
|
Limit orders as percentage of total limit orders |
10.04% |
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|
Other orders as percentage of total other orders |
0.00% |
| 5. NYSE Arca Options |
|
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Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
2.45% |
| |
|
Limit orders as percentage of total limit orders |
16.06% |
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|
Other orders as percentage of total other orders |
0.00% |
| 6. BATS Options Exchange, Inc. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
3.80% |
| |
|
Limit orders as percentage of total limit orders |
8.43% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 7. The International Securities Exchange |
|
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Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
7.88% |
| |
|
Limit orders as percentage of total limit orders |
2.41% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 8. Nasdaq Execution Services, L.L.C. |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
0.00% |
| |
|
Limit orders as percentage of total limit orders |
10.04% |
| |
|
Other orders as percentage of total other orders |
0.00% |
| 9. C2 Options Exchange |
|
| |
Types of Orders Routed to Venue: |
|
| |
|
Market orders as percentage of total market orders |
1.63% |
| |
|
Limit orders as percentage of total limit orders |
0.00% |
| |
|
Other orders as percentage of total other orders |
0.00% |
Non-Deposit Investment Products...
ARE NOT FDIC INSURED
ARE NOT BANK GUARANTEED
MAY LOSE VALUE |
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