Trading

Order Routing and Payment For Order Flow Information

Pursuant to SEC rules and regulations, GSA is required to disclose to its customers is policies for routing its orders for execution and a statistical analysis of the quality of transaction executions. For an analysis of GSA's order routing statistical information, please access the following web link: http://www.tagaudit.com/do/display?page=Public::R606. Also note that a copy of order routing reporting will be furnished upon request.

Additionally, pursuant to SEC Rule 11Ac1-3 GSA is required to disclose its payment for order flow practices to its customers at the time that an account is opened and annually thereafter. GSA does not receive payment for order flow for routing orders to specific execution venues.