SEC-Required Order Routing Disclosure
1st Quarter 2007
Prior Periods: 4Q2007
Important Note
In accordance with SEC requirements, Battenkill Capital, Inc.. ("Battenkill") is publishing statistical information about our routing of certain customers' orders in NASDAQ and listed stocks and listed options.
Securities and Exchange Commission ("SEC") rules require broker-dealers that route orders in certain equity and option securities to make available quarterly reports that present a general overview of their routing practices. You should note that based on the SEC's requirements, these statistics capture only a portion of Battenkill's order flow.
The required statistics are intended to provide only an overview of our order routing practices. Accordingly, the statistics do not create a reliable basis on which to assess whether Battenkill or any other trading venue has satisfied its duty of best execution.
We have made every attempt to prepare these statistics in compliance with the SEC's rules. However, these statistics have not been audited and may contain errors. Accordingly, any decision about whether to open an account or to direct orders to Battenkill should not be based solely on these statistics, but on an evaluation of the full range of services that we provide.
Battenkill Capital had know material activity in listed options during the reporting period.
You may visit the SEC Web site for more information on the Disclosure of SEC-Required Order Execution and Routing Practices, Regulation NMS and interpretative frequently asked questions
(Staff Legal Bulletin No. 13A).
Non-Directed Orders as a Percentage of Total Customer Orders Having a
Market Value Less Than $200,000:
Market Value Less Than $200,000:
63.1%
Percentage of Non-Directed Customer Orders
That Were:
That Were:
Market
Limit
Other (includes
Not Held)
Not Held)
6.6%
93.4%
0%
Routing Information Concerning Significant Venues
All information relates to customer orders of less than $200,000
All information relates to customer orders of less than $200,000
Percentage of Orders Routed
to Significant Venues
to Significant Venues
Total Non-
Directed Orders
Directed Orders
Non- Directed
Market Orders
Market Orders
Non- Directed
Limit Orders
Limit Orders
Non- Directed
Other Orders
Other Orders
NYSE - Floor*
18.3%
67.1%
0%
0%
NYSE SuperDot
26.2%
32.9%
51.0%
0%
ARCA
9.0%
0%
12.0%
0%
Inset
24.3%
0%
33.6%
0%
EDGX
2.2%
0%
3.0%
0%
Rule 606 (formerly known as Rule 11Ac1-6) Report: NASDAQ Securities
Non-Directed Orders as a Percentage of Total Customer Orders Having a
Market Value Less Than $200,000:
Market Value Less Than $200,000:
100%
Percentage of Non-Directed Customer Orders
That Were:
That Were:
Market
Limit
Other (includes
Not Held)
Not Held)
0%
100%
0%
Routing Information Concerning Significant Venues
All information relates to customer orders of less than $200,000
All information relates to customer orders of less than $200,000
Percentage of Orders Routed
to Significant Venues
to Significant Venues
Total Non-
Directed Orders
Directed Orders
Non- Directed
Market Orders
Market Orders
Non- Directed
Limit Orders
Limit Orders
Non- Directed
Other Orders
Other Orders
ARCA
6.9%
0%
7.0%
0%
BRUT
0.3%
0%
0.3%
0%
EDGX
0.2%
0%
0.2%
0%
Instinet
8.9%
0%
91.7%
0%
Knight
0.7%
0%
0.7%
0%
Other
2%
100%
0.1%
0%
Rule 606 (formerly known as Rule 11Ac1-6) Report: Network B Securities - AMEX and Regional Exchanges
Non-Directed Orders as a Percentage of Total Customer Orders Having a
Market Value Less Than $200,000:
Market Value Less Than $200,000:
100%
Percentage of Non-Directed Customer Orders
That Were:
That Were:
Market
Limit
Other (includes
Not Held)
Not Held)
0%
100%
0%
Routing Information Concerning Significant Venues
All information relates to customer orders of less than $200,000
All information relates to customer orders of less than $200,000
Percentage of Orders Routed
to Significant Venues
to Significant Venues
Total Non-
Directed Orders
Directed Orders
Non- Directed
Market Orders
Market Orders
Non- Directed
Limit Orders
Limit Orders
Non- Directed
Other Orders
Other Orders
AMEX - Floor*
41.0%
0%
41.0%
0%
ARCA
14.1%
0%
14.1%
0%
Instinet
41.7%
0%
41.7%
0%
Other
3.2%
0%
3.2%
0%
