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PORTANT NOTICE TO CUENTS: Disclosure or Order Execution and Routing Practices Sec Rule 1lAc1-5 (Monthly report) requires 'market centers that trade Nasdaq National Market, Nasdaq Small Cap securities and exchange-listed securities to make publicly available standardized. monthly statistical information about 'covered

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TANT NOTICE TO CLIENTS: Disclosure of Order Execution and Routing Practices SEC Rule 11aC1-5 (monthly report) requires 'market centers" that trade Nasdaq National Market, Nasdaq Small Cap securities and exchange-listed securities to make publicly available standardized, monthly statistical information about "covered

rule and are therefore not included in the statistics, 027 01,01.00:15:56 001 Y818 EFTA00197281 CLEARANCE AGENT TO FBR FRIEDNIAN, BILLINGS, RAMSEY & CO.. INC. OFFICE SERVICING YOUR ACCOUNT 1001 Nineteenth Street North Arlington. Virginia 22209.1722 Telephone (703) 312 9500 Fax (703) 312 9501 E-Mail in

RTANT NOTICE TO CLIENTS: Disclosure of Order Execution and Routing Practices Sec Rule 11Ac1.5 (Monthly report) requires 'market centers' that trade Nasdaq National Market, Nasdaq Small Cap securities and exchange-listed securities to make publicly available standardized, monthly statistical information about 'covered

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RTANT NOTICE TO CUENTS: Disclosure of Order Execution and Routing Practices SEC Rule llaC1-5 (monthly report) requires 'market centers' that trade Nasdaq National Market, Nasdaq Small Cap securities and exchange-listed Securities to make publicly evadable standardized. monthly statistical information about 'catered