SEC Rule 606 Report

Gar Wood Securities LLC (GWS) has prepared this report pursuant to a U.S. Securities and Exchange Commission rule requiring all brokerage firms to make available to the public quarterly reports about 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, GWS has selected the execution venue on behalf of its customers.

This report identifies the venues most often selected by GWS, sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of GWS’s relationship with the venues.

GWS utilizes two (2) separate clearing firms for its customer orders; 1) Axos Clearing LLC and 2) Interactive Brokers LLC.  Due to the distinct differences in the nature of these clearing relationships and how our customer orders are handled, GWS provides two (2) SEC Rule 606 Reports; One applicable to our clients’ orders at Axos Clearing and another for our clients’ orders at Interactive Brokers.

PLEASE NOTE: For its client accounts domiciled at Interactive Brokers, LLC (“IBKR”), Gar Wood Securities exclusively routes such related customer orders in Rule 606 reportable securities to IBKR.  IBKR may not be the ultimate execution venue for such orders, and these orders may be further routed to execution venues.  In limited circumstances, Gar Wood Securities may receive remuneration for orders routed to IBKR in the form of execution venue fees or rebates that may be paid by an executing venue.   For detail on the renumeration shared by IBKR with Gar Wood Securities, please view the option and equity rate cards by clicking on the links provided below.  Each rate card details the amount of compensation Gar Wood received in the most recent quarter broken down by market venue.

Interactive Brokers – Equity Rate Card

Interactive Brokers – Option Rate Card

Gar Wood Securities does not select the execution venues to which IBKR routes Rule 606 reportable securities for execution.  As a result, our firm is adopting by reference IBKR’s Rule 606 report.

For your review, below are Links to each of these Rule 606 reports.

Questions regarding this report should be addressed to the GWS Compliance Department at (312) 662-1265.

Gar Wood Securities – Interactive Brokers (GWDS)

Gar Wood Securities – Axos Clearing (GRWD)

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If you have any questions about our policies or disclosures, please contact our Compliance Department at the number below.