E*TRADE Rule 606 Disclosure: 1Q2015 E*TRADE Securities LLC (“E*TRADE”) has prepared this report pursuant to a U.S. Securities and Exchange Commission rule requiring all brokerage firms to make available to the public quarterly reports about their order routing practices. The report provides information on the routing of "nondirected orders" -- any order that the customer has not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, E*TRADE has selected the execution venue on behalf of its customers. The report is divided into four sections: 1. 2. 3. 4. New York Stock Exchange Listed Securities NASDAQ Stock Market Listed Securities NYSE MKT or any other National Securities Exchange Listed Securities Exchange Listed Options For each section, this report identifies the venues most often selected by E*TRADE, sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of E*TRADE's relationship with the venues. Questions regarding this report should be addressed to the E*TRADE Compliance Department. E*TRADE Securities LLC 1271 Avenue of the Americas 14th Floor New York, NY 10020-1302 1. New York Stock Exchange Listed Securities For quarter ending 3/31/2015 Non-Directed Orders Market Orders Limit Orders Other Orders 50.78% 69.14% 28.94% 84.37% 18.78% 0.00% 38.54% 0.00% 12.87% 0.00% 26.41% 0.00% 9.94% 18.13% 3.76% 3.30% 4.98% 7.71% 1.44% 11.82% 97.41% 43.23% 48.72% 8.04% Orders Routed to: G1 Execution Services, LLC 1 Citigroup Global Markets, Inc. 3 EDGX Exchange, Inc. Citadel Securities, LLC KCG Americas, LLC 5 Total E*Trade Orders 1 4 2 Payments received from G1 Execution Services, LLC averaged less than $0.0010 per share. 2 Citigroup Global Markets may utilize NYSE ARCA for the display of limit orders. Payments received from Citigroup Global Markets, Inc. averaged less than $.0027 per share. 3 Payments received from EDGX Exchange, Inc. averaged less than $0.0031 per share. 4 Payments received from Citadel Securities, LLC averaged less than $0.0010 per share. 5 Payments received from KCG Americas, LLC averaged less than $0.0010 per share. E*TRADE Securities LLC 1271 Avenue of the Americas 14th Floor New York, NY 10020-1302 2. NASDAQ Stock Market Listed Securities For quarter ending 3/31/2015 Non-Directed Orders Market Orders Limit Orders Other Orders 48.50% 68.53% 27.86% 83.27% 22.92% 0.00% 43.90% 0.00% 11.08% 0.00% 21.11% 0.63% 9.88% 18.89% 4.20% 2.63% 4.99% 7.75% 1.64% 13.05% 96.51% 39.57% 52.22% 8.22% Orders Routed to: G1 Execution Services, LLC 2 EDGX Exchange, Inc. 3 Nasdaq OMX Citadel Securities, LLC KCG Americas, LLC 5 Total E*TRADE Orders 4 1 1 Payments received from G1 Execution Services, LLC averaged less than $0.0010 per share. 2 Payments received from EDGX Exchange, Inc. averaged less than $0.0031 per share. 3 Payments received from Nasdaq OMX averaged less than $0.0028 per share. 4 Payments received from Citadel Securities, LLC averaged less than $0.0010 per share. 5 Payments received from KCG Americas, LLC averaged less than $0.0010 per share. E*TRADE Securities LLC 1271 Avenue of the Americas 14th Floor New York, NY 10020-1302 3. NYSE MKT or any other National Securities Exchange Listed Securities For quarter ending 3/31/2015 Non-Directed Orders Market Orders Limit Orders Other Orders 48.60% 68.38% 26.54% 83.99% 21.62% 0.00% 42.62% 0.00% 12.12% 0.00% 23.88% 0.00% 10.01% 19.19% 4.14% 2.50% 4.98% 7.53% 1.48% 13.09% 95.84% 40.01% 50.74% 9.25% Orders Routed to: G1 Execution Services, LLC 1 2 EDGX Exchange, Inc. Citigroup Global Markets, Inc. Citadel Securities, LLC KCG Americas, LLC 5 Total E*TRADE Orders 4 3 1 Payments received from G1 Execution Services, LLC averaged less than $0.0010 per share. 2 Payments received from EDGX Exchange, Inc. averaged less than $0.0031 per share. 3 Citigroup Global Markets may utilize NYSE ARCA for the display of limit orders. Payments received from Citigroup Global Markets, Inc. averaged less than $.0027 per share. 4 Payments received from Citadel Securities, LLC averaged less than $0.0010 per share. 5 Payments received from KCG Americas, LLC averaged less than $0.0010 per share. E*TRADE Securities LLC 1271 Avenue of the Americas 14th Floor New York, NY 10020-1302 4. Exchange Listed Options Non-Directed Orders Market Orders Limit Orders Other Orders NASDAQ Options Market 25.71% 0.52% 30.14% 0.31% BATS Options Exchange 19.21% 1.00% 22.44% 0.00% Chicago Board Options Exchange 14.49% 34.46% 11.09% 31.31% NASDAQ OMX PHLX 13.25% 21.78% 11.08% 41.17% MIAX Options Exchange 8.98% 19.13% 7.83% 0.83% NYSE Arca, Inc. 7.60% 0.38% 8.70% 5.23% ISE Gemini Exchange, LLC 4.65% 0.17% 4.92% 15.09% Boston Options Exchange 1.66% 8.46% 0.72% 0.09% Total E*TRADE Orders 99.61% 11.99% 85.06% 2.95% For quarter ending 3/31/2015 Orders Routed to: E*TRADE routes orders in exchange-listed options to broker-dealer intermediaries, which in turn use smart order routing technology to seek the best execution available in the market. The information in this report regarding the venues at which E*TRADE’s non-directed orders in exchange-listed options were executed is based on information supplied to E*TRADE by the broker-dealer intermediaries. Payments received from these broker-dealer intermediaries averaged less than $0.32 per contract. E*TRADE Securities LLC 1271 Avenue of the Americas 14th Floor New York, NY 10020-1302
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