SEC Rule 606 Report - Bay Crest Partners & – 1st Qtr. 2012

(Percentages of Total Non-Directed Orders Routed to Individual Route Venues)

Partners Listed on New York Stock Exchange Euronext - 58% of all volume

Route Venues	Total (%)	Market (%)	Limit (%)	Other (%)
Total (%)	100	70	30	0
New York Stock Exchange	88	81	19	0
Knight Capital Markets	7	60	40	0
EDGE	1	55	45	0
GETCO	1	50	50	0

100.00% of total customer orders were non-directed orders.

Partners Listed on The Nasdaq Stock Market - 39% of all volume

Route Venues	Total (%)	Market (%)	Limit (%)	Other (%)
Total (%)	100	35	65	0
Knight Capital Markets	90	35	65	0
Nasdaq	3	30	70	0
Lehman	2	30	70	0
ARCA	2	55	45	0

100.00% of total customer orders were non-directed orders.

Partners Listed on NYSE Amex or Regional Exchanges - 2% of all volume

Route Venues	Total (%)	Market (%)	Limit (%)	Other (%)
Total (%)	100	51	49	0
New York Stock Exchange	55	70	30	0
Knight Capital Markets	29	55	45	0
ARCA	5	60	40	0
Edge	4	30	70	0

100.00% of total customer orders were non-directed orders.