|
RAVEN
SECURITIES
SEC Rule 606 Quarterly Report for the Quarter Ending March 31, 2014
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 83%
Limit orders as percentage of total non-directed orders 17%
Information Concerning Significant Venues (EQUITIES):
New York Stock Exchange Listed Symols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
|
NYSE
|
79
|
80
|
20
|
|
MSCO
|
16
|
70
|
30
|
|
NASDAQ
|
2
|
90
|
10
|
|
EDGE
|
1
|
80
|
20
|
American Stock Exchange Listed Symols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
|
ARCA
|
25
|
85
|
15
|
|
NYSE
|
19
|
70
|
30
|
|
EDGE
|
12
|
50
|
50
|
|
BATS
|
9
|
50
|
50
|
|
NASDAQ
|
8
|
70
|
30
|
|
BYXX
|
5
|
75
|
25
|
|
INET
|
4
|
70
|
30
|
|
FBCO
|
3
|
70
|
30
|
|
CSLP
|
3
|
60
|
40
|
|
GFLO
|
2
|
55
|
45
|
|
BX
|
2
|
70
|
30
|
|
ICDRG
|
2
|
50
|
50
|
|
MSCO
|
1
|
60
|
40
|
|
MS
|
1
|
75
|
25
|
|
AMEX
|
1
|
80
|
20
|
|
KNLI
|
1
|
70
|
30
|
|
ALTX
|
1
|
80
|
20
|
NASDAQ Listed Symols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
|
NASDAQ
|
32
|
70
|
30
|
|
MSCO
|
16
|
60
|
40
|
|
NYSE
|
12
|
75
|
25
|
|
ARCA
|
11
|
80
|
20
|
|
EDGE
|
6
|
90
|
10
|
|
CSLP
|
4
|
85
|
15
|
|
BATS
|
3
|
45
|
55
|
|
BYXX
|
2
|
50
|
50
|
|
INET
|
2
|
70
|
30
|
|
BX
|
2
|
60
|
40
|
|
CDRG
|
2
|
60
|
40
|
|
FBCO
|
1
|
55
|
45
|
|
GFLO
|
1
|
40
|
60
|
|
KNIGHT
|
1
|
0
|
100
|
|
MS
|
1
|
0
|
100
|
|
CVGX
|
1
|
0
|
100
|
Other and Regional Exchanges Listed Symols
|
Venue
|
% of volume
|
% of orders - Market
|
% of orders - Limit
|
|
NYSE
|
75
|
75
|
25
|
|
MSCO
|
21
|
70
|
30
|
|
NASDAQ
|
3
|
60
|
40
|
|