KCCI Direct
SEC-Required Report on Routing of Customer Orders
For Quarter Ending March 2012
 
AMEX
Non-Directed% Limit% Market% Other% Venue Routed% Limit% Market% Other% Compensation for order flow
100 82.051 15.385 2.564
ARCA 20.513 25 0 0
BATSZ 30.769 34.375 0 100
BNY 15.385 18.75 0 0
NSDQ 10.256 12.5 0 0
NYSE 15.385 0 100 0
VNDS 7.692 9.375 0 0
 
NYSE
Non-Directed% Limit% Market% Other% Venue Routed% Limit% Market% Other% Compensation for order flow
100 77.59 4.148 18.262
BATSY 0.154 0.198 0 0
BATSZ 34.548 43.281 14.815 1.923
BNY 6.607 7.214 24.339 0
NSDQ 8.67 11.117 0 0.24
NYSE 3.402 1.697 50.265 0
VNDS 3.446 4.385 1.058 0
 
NASDAQ
Non-Directed% Limit% Market% Other% Venue Routed% Limit% Market% Other% Compensation for order flow
100 82.295 2.529 15.176
ARCA 29.241 17.541 14.634 95.122
BATSY 0.123 0.15 0 0
BATSZ 32.634 38.906 12.195 2.033
BNY 7.033 7.046 48.78 0
INET 0.123 0.15 0 0
NSDQ 23.936 27.961 19.512 2.846
NYSE 0.123 0 4.878 0
VNDS 6.786 8.246 0 0
 

Disclosure Information

Exchange Act Rule 11Ac1-3. KCCI, Ltd. ("KCCI") directs customer orders to exchanges, electronic communications networks (ECNs), broker dealers and other Reg-NMS protected market venues during the normal course of business. Certain market centers provide remuneration (rebates) or charge access fees depending upon the characteristics of the executions. Details of any payments and fees are available upon written request.

Glossary
 Total

 Total Number of orders routed to all destinations during the quarter.
 Directed%

 The percentage of total orders from the provider that were non-directed orders.
 Non-Directed%

 The percentage of total orders from the provider that were directed orders.
 Market%

 The percentage of total non-directed customer orders that were market orders.
 Limit%

 The percentage of total non-directed customer orders that were limit orders.
 Other%

 The percentage of total non-directed customer orders that were special handling orders and any orders that must
 be executed on a particular tick or bid.
 Venue

 List of the venues to which non-directed orders were routed for execution
 Routed%

 The percentage of total non-directed orders routed to the venue
 Market%

 The percentage of total non-directed market orders routed to the venue
 Limit%

 The percentage of total non-directed limit orders routed to the venue
 Other%

 The percentage of total non-directed other orders routed to the venue. Other orders include special handling
 orders and any orders that must be executed on a particular tick or bid.
 Compensation for order flow

 Rebates received for routing orders to certain venues – see below for disclosures
 ARCA

 Archipelago ECN
 BNY

 BNY Convergex
 VNDS

 Vandham