Carty
& Company, Inc.
6263 Poplar Ave. Memphis, TN.
(901) 767-8940
SEC - Required Report on Routing of
Customer Orders
For Quarter Ending March 31, 2008
Carty & Company, Inc. 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" - any order that the customer has not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, Carty & Company has selected the execution venue on behalf of its customers. Upon request, Carty & Company will provide to any customer the venue to which the customer’s order was routed.
The report is divided into four sections: one for securities listed on the New York Stock Exchange, one for securities listed on The NASDAQ Stock Market, one for securities listed on the American Stock Exchange or regional exchanges, and one for exchange-listed options. For each section, this report identifies the venues most often selected by Carty & Company, sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of Carty & Company's relationship with the venues.
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 |
64.87% |
|
|
Limit
orders as percentage of total non-directed orders |
33.84% |
|
|
Other
orders as percentage of total non-directed orders |
1.29% |
Venues Receiving Significant
Percentage of Total Non-Directed Orders:
|
|
1. |
Knight
Capital Markets, L.L.C. |
28.69% |
|
|
2. |
NYSE
Euronext. |
9.13% |
|
|
3. |
Citadel
Derivatives Group, L.L.C.. |
25.64% |
|
|
4. |
Madoff
(Bernard L.) Investment Securities, L.L.C. |
13.47% |
|
|
5. |
NYSE ARCA |
2.81% |
|
|
6. |
UBS
Securities LLC |
5.85% |
|
|
7. |
OTC |
0.35% |
|
|
8. |
Automated Trading Desk Financial Services. L.L.C. |
11.36% |
|
9. |
National Financial Services L.L.C. |
2.69% |
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 |
32.13% |
| Limit orders as percentage of total limit orders |
20.07% |
|
|
|
Other
orders as percentage of total other orders |
81.82% |
2. NYSE
Euronext
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
0.90% |
|
|
Limit
orders as percentage of total limit orders |
25.26% |
|
|
Other
orders as percentage of total other orders |
0.00% |
3. Citadel
Derivatives Group, L.L.C.
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
29.78% |
|
|
Limit
orders as percentage of total limit orders |
18.69% |
|
|
Other
orders as percentage of total other orders |
0.00% |
4. Madoff (Bernard L.) Investment Securities, L.L.C.
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
16.79% |
|
|
Limit
orders as percentage of total limit orders |
7.61% |
|
|
Other
orders as percentage of total other orders |
0.00% |
5. 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 |
8.30% |
|
|
Other
orders as percentage of total other orders |
0.00% |
6. UBS
Securites LLC
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
4.33% |
|
|
Limit
orders as percentage of total limit orders |
8.30% |
|
|
Other
orders as percentage of total other orders |
18.18% |
7. OTC
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
0.00% |
|
|
Limit
orders as percentage of total limit orders |
1.04% |
|
|
Other
orders as percentage of total other orders |
0.00% |
8. Automated Trading
Desk Financial Services, L.L.C..
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
13.00% |
|
|
Limit
orders as percentage of total limit orders |
8.65% |
|
|
Other
orders as percentage of total other orders |
0.00% |
9. National Financial Services L.L.C.
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
3.07% |
|
|
Limit
orders as percentage of total limit orders |
2.08% |
|
|
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 |
39.11% |
|
|
Limit
orders as percentage of total non-directed orders |
58.01% |
|
|
Other
orders as percentage of total non-directed orders |
2.87% |
Venues Receiving Significant Percentage of Total
Non-Directed Orders:
|
|
1. |
Knight
Equity Markets, L.P. |
47.25% |
|
|
2. |
National Financial Services L.L.C. |
1.44% |
|
|
3. |
Madoff (Bernard L.) Investment Securities, L.L.C. |
4.19% |
|
|
4. |
|
1.44% |
|
|
5. |
NYSE ARCA |
2.51% |
| 6. | UBS Securities LLC | 11.84% | |
| 7. | Automated Trading Desk Financial Services LLC | 8.49% | |
|
8. |
Citadel Derivatives Group, L.L.C |
22.49% |
|
|
9. |
Bear, Stearbs & Co, Inc. |
0.12% |
|
|
10. |
OTC |
0.24% |
Information
Concerning Significant Venues:
1. Knight Equity Markets, L.P.
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
42.51% |
|
|
Limit
orders as percentage of total limit orders |
49.69% |
|
|
Other
orders as percentage of total other orders |
62.50% |
2. National Financial Services L.L.C.
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
1.83% |
|
|
Limit
orders as percentage of total limit orders |
1.24% |
|
|
Other
orders as percentage of total other orders |
0.00% |
3. Madoff (Bernard L.) Investment Securities, L.L.C.
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
6.12% |
|
|
Limit
orders as percentage of total limit orders |
3.09% |
|
|
Other
orders as percentage of total other orders |
0.00% |
4. Lehman
Brothers. Inc
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
0.31% |
|
|
Limit
orders as percentage of total limit orders |
2.27% |
|
|
Other
orders as percentage of total other orders |
0.00% |
5.
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 |
4.33% |
|
|
Other
orders as percentage of total other orders |
0.00% |
6. UBS
Securities LLC
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
12.23% |
|
|
Limit
orders as percentage of total limit orders |
11.34% |
|
|
Other
orders as percentage of total other orders |
16.67% |
7. Automated
Trading Desk Financial Services LLC
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
4.89% |
|
|
Limit
orders as percentage of total limit orders |
10.93% |
|
|
Other
orders as percentage of total other orders |
8.33% |
8. Citadel Derivatives
Group, L.L.C
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
31.50% |
|
|
Limit
orders as percentage of total limit orders |
16.91% |
|
|
Other
orders as percentage of total other orders |
12.50% |
9.
Bear, Stearns & Co, 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 |
0.21% |
|
|
Other
orders as percentage of total other orders |
0.00% |
10. OTC
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
0.61% |
|
|
Limit
orders as percentage of total limit orders |
0.00% |
|
|
Other
orders as percentage of total other orders |
0.00% |
Securities
Listed on The American Stock Exchange 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 |
68.80% |
|
|
Limit
orders as percentage of total non-directed orders |
28.80% |
|
|
Other
orders as percentage of total non-directed orders |
2.40% |
Venues Receiving Significant Percentage of Total Non-Directed
Orders:
| 1. | Knight Capital Markets, L.L.C. | 76.80% | |
|
|
2. |
The
American Stock Exchange |
1.60% |
|
|
3. | Citadel Derivatives Group, L.L.C. | 8.00% |
|
4. |
UBS securities, L.L.C. |
1.60% |
|
|
5. |
Automated Trading Desk
Financial Services, L.L.C. |
0.80% |
|
|
|
6. |
Archipelago Trading
Services, Inc |
11.20% |
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 |
70.93% |
|
|
Limit
orders as percentage of total limit orders |
88.89% |
|
|
Other
orders as percentage of total other orders |
100.00% |
2. The American Stock Exchange
Clearing
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
1.16% |
|
|
Limit
orders as percentage of total limit orders |
2.78% |
|
|
Other
orders as percentage of total other orders |
0.00% |
3. Citadel
Derivatives Group, L.L.C.
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
10.47% |
|
|
Limit
orders as percentage of total limit orders |
2.78% |
|
|
Other
orders as percentage of total other orders |
0.00% |
4. UBS Securities, L.L.C.
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
1.16% |
|
|
Limit
orders as percentage of total limit orders |
2.78% |
|
|
Other
orders as percentage of total other orders |
0.00% |
5. Automated Trading Desk Financial Services, L.L.C.
|
|
Market
orders as percentage of total market orders |
1.16% |
|
|
Limit
orders as percentage of total limit orders |
0.00% |
|
|
Other
orders as percentage of total other orders |
0.00% |
6. Archipelago Trading Services, Inc.
Types of Orders Routed to Venue:
|
|
Market
orders as percentage of total market orders |
15.12% |
|
|
Limit
orders as percentage of total limit orders |
2.78% |
|
|
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 |
52.65% |
|
|
Limit
orders as percentage of total non-directed orders |
42.80% |
|
|
Other
orders as percentage of total non-directed orders |
4.55% |
Venues Receiving Significant Percentage of Total
Non-Directed Orders:
|
|
1. |
The
Chicago Board Options Exchange |
35.61% |
|
|
2. |
The
Philadelphia Stock Exchange |
26.14% |
|
|
3. |
The
International Securities Exchange |
19.32% |
|
|
4. |
NYSE
ARCA |
1 |