Securities Listed on New York Stock Exchange

Spencer - Winston Securities Corp.

Summary Statistics:

Non-directed orders as percentage of total customer orders 100.0%

Market orders as percentage of total non-directed orders 31.5%

Limit orders as percentage of total non-directed orders 61.9%

Other orders as percentage of total non-directed orders 6.6%

Venues receiving significant percentage of total non-directed orders:

Penson Financial Services, Inc. 100.0%

Information Concerning significant Venues:

Penson Financial Services, Inc.

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders 100.0%

Market orders as percentage of total market orders 100.0%

Other orders as percentage of total other orders 100.0%

 Securities Listed on Option Market 
 Spencer - Winston Securities Corp.  
 
Summary Statistics:
 
Non-directed orders as percentage of total customer orders 100.0%
Market orders as percentage of total non-directed orders 13.3%
Limit orders as percentage of total non-directed orders 86.6%
Other orders as percentage of total non-directed orders 0.1%
 
Venues receiving significant percentage of total non-directed orders:
 
Penson Financial Services, Inc. 100.0%
 
Information Concerning significant Venues:
 
Penson Financial Services, Inc.
 
Type of Orders Routed to Venue:
 
Limit orders as percentage of total limit orders 100.0%
Market orders as percentage of total market orders 100.0%
Other orders as percentage of total other orders  100.0%
 
 
 Securities Listed on OTC 
 Spencer - Winston Securities Corp. 
 
Summary Statistics:
 
Non-directed orders as percentage of total customer orders 100.0%
Market orders as percentage of total non-directed orders 29.8%
Limit orders as percentage of total non-directed orders 67.1%
Other orders as percentage of total non-directed orders 3.1%
 
Venues receiving significant percentage of total non-directed orders:
 
Penson Financial Services, Inc.  100.0%
 
Information Concerning significant Venues:
 
Penson Financial Services, Inc.
 
Type of Orders Routed to Venue:
 
Limit orders as percentage of total limit orders 100.0%
Market orders as percentage of total market orders 100.0%
Other orders as percentage of total other orders 100.0%