WHICH ORDERS ARE AUTOMATICALLY ROUTED ARE SELECTED BASED ON THE CONSISTENT HIGH QUALITY OF THEIR EXECUTIONS IN ONE OR MORE MARKET SEGMENTS AND THEIR MLITT TO PROVIDE OPPORTUNITIES FOR EXECUTIONS AT PRICES SUPERIOR TO THE NBBO. PERSHING ALSO REGULARLY REVIEWS REPORTS FOR QUALITY OF EXECUTION PURPOSES.

21111 11/004 a Ma 01 0.00 342 04/27 1:51.1114 11/COM a 10121 Of 0.00 341 04/27 10:101114 MAKI IL MCI DT 0.00 344 04/27 10:111111 MLITT •• 1001 DT 2.24 8.2$ 345 011/17 10:11Am ALM •• flat DT 2.21 2.26 346 04/27 10:48514 KIWI n. 10121 DT 0.00 347 08/37 10:46All M