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RAVEN
SECURITIES
SEC Rule 606 Quarterly Report for the Quarter Ending June 30, 2013
Raven Securities has prepared this report pursuant to a
U.S. Securities and Exchange Commission rule requiring all brokerage firms to
make publicly available quarterly reports on their order routing practices.
The report provides information on the routing of "non-directed orders,
“that is, any order that the customer has not specifically instructed to be
routed to a particular venue [market center] for execution. For these
non-directed orders, Raven Securities has selected the execution venue on
behalf of its customers.
Summary Statistics :
Non-directed orders as percentage of total customer orders
100%
Market orders as percentage of total non-directed orders 86%
Limit orders as percentage of total non-directed orders 14%
Information Concerning Significant Venues (EQUITIES):
New York Stock Exchange Listed Symols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
|
NYSE
|
85%
|
86
|
14
|
|
MSCO
|
6%
|
90
|
10
|
|
NASDAQ
|
3%
|
76
|
24
|
|
BATS
|
1%
|
100
|
0
|
|
EDGE
|
1%
|
100
|
0
|
American Stock Exchange Listed Symols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
|
ARCA
|
35%
|
80
|
20
|
|
NASDAQ
|
12%
|
94
|
6
|
|
EDGE
|
8%
|
70
|
30
|
|
INET
|
7%
|
66
|
34
|
|
BATS
|
7%
|
84
|
16
|
|
WBC
|
6%
|
55
|
45
|
|
NYSE
|
4%
|
60
|
40
|
|
MANUAL
|
3%
|
85
|
15
|
|
CSLP
|
3%
|
90
|
10
|
|
CVGX
|
2%
|
100
|
0
|
|
GFLO
|
2%
|
100
|
0
|
|
MSCO
|
2%
|
100
|
0
|
|
CDRG
|
1%
|
100
|
0
|
|
GETAL21
|
1%
|
100
|
0
|
|
BYXX
|
1%
|
100
|
0
|
|
BX
|
1%
|
100
|
0
|
NASDAQ Listed Symols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
|
NASDAQ
|
39%
|
85
|
15
|
|
ARCA
|
14%
|
70
|
30
|
|
BATS
|
6%
|
60
|
40
|
|
EDGE
|
5%
|
86
|
14
|
|
INET
|
5%
|
72
|
28
|
|
GETAL21
|
4%
|
90
|
10
|
|
CDRG
|
2%
|
100
|
0
|
|
MSCO
|
2%
|
77
|
23
|
|
GFLO
|
2%
|
100
|
0
|
|
CSLP
|
2%
|
100
|
0
|
|
CVGX
|
2%
|
100
|
0
|
|
BX
|
1%
|
100
|
0
|
|
CAES
|
1%
|
100
|
0
|
|
BYXX
|
1%
|
100
|
0
|
|
SMFW
|
1%
|
100
|
0
|
|
BARX
|
1%
|
100
|
0
|
|
UBS
|
1%
|
100
|
0
|
|
NYSE
|
1%
|
100
|
0
|
|
BAML
|
1%
|
100
|
0
|
Other and Regional Exchanges Listed Symols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
|
NYSE
|
73%
|
90
|
10
|
|
NASDAQ
|
12%
|
86
|
14
|
|
EDGE
|
4%
|
70
|
30
|
|
BATS
|
2%
|
75
|
25
|
|
MSCO
|
2%
|
80
|
20
|
|
BX
|
1%
|
100
|
0
|
|
ARCA
|
1%
|
100
|
0
|
|
CDRG
|
1%
|
100
|
0
|
|
GFLO
|
1%
|
100
|
0
|
|