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Equity and Option Order Routing Disclosure

Note: Broker-dealers are required to disclose any material arrangements with the venues listed in each section below, including, but not limited to, any internalization or payment for order flow arrangements.

CNS
City National Securities, Inc.
400 N Roxbury Dr
Beverly Hills, CA 90210

SEC Rule 606 Quarterly Report for the Quarter Ending March 31, 2014

Securities Listed on The New York Stock Exchange

Summary Statistics:
Non-directed orders as percentage of total customer orders 100.00%
Market orders as percentage of total non-directed orders 65.26%
Limit orders as percentage of total non-directed orders 32.70%
Other orders as percentage of total non-directed orders 2.04%
Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. KCG Americas LLC 36.48%
2. Citadel Securities LLC 17.93%
3. Goldman, Sachs & Co. 9.34%
4. Direct Edge Exchange 8.39%
5. Two Sigma Securities, LLC  8.34%
6. National Financial Services LLC 7.73%
7. UBS Securities, LLC 5.61%
8. Other 1.45%
9. BATS Exchange, Inc. 1.30%
10. Instinet LLC 1.02%

Information Concerning Significant Venues:

1. KCG Americas LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 40.23%
Limit orders as percentage of total limit orders 28.00%
Other orders as percentage of total other orders 52.50%

2. Citadel Securities LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 19.94%
Limit orders as percentage of total limit orders 12.71%
Other orders as percentage of total other orders 37.50%

3. Goldman, Sachs & Co.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 12.00%
Limit orders as percentage of total limit orders 4.60%
Other orders as percentage of total other orders 0.00%

4. Direct Edge Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 25.66%
Other orders as percentage of total other orders 0.00%

5. Two Sigma Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 11.18%
Limit orders as percentage of total limit orders 3.20%
Other orders as percentage of total other orders 0.00%

6. National Financial Services LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 9.58%
Limit orders as percentage of total limit orders 4.52%
Other orders as percentage of total other orders 0.00%

7. UBS Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 4.81%
Limit orders as percentage of total limit orders 4.94%
Other orders as percentage of total other orders 10.00%

8. Other
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.52%
Limit orders as percentage of total limit orders 0.43%
Other orders as percentage of total other orders 0.00%

9. BATS Exchange, Inc.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 3.98%
Other orders as percentage of total other orders 0.00%

10. Instinet LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.25%
Limit orders as percentage of total limit orders 0.62%
Other orders as percentage of total other orders 0.00%

Securities Listed on The Nasdaq Stock Market

Summary Statistics:
Non-directed orders as percentage of total customer orders 100.00%
Market orders as percentage of total non-directed orders 58.83%
Limit orders as percentage of total non-directed orders 37.00%
Other orders as percentage of total non-directed orders 4.17%
Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. KCG Americas LLC 30.21%
2. Citadel Securities LLC 22.16%
3. Direct Edge Exchange 11.15%
4. Goldman, Sachs & Co. 10.52%
5. Two Sigma Securities, LLC 7.68%
6. National Financial Services LLC 7.42%
7. UBS Securities, LLC 5.69%
8. Nasdaq Execution Services, LLC 1.55%
9. Other 1.14%
10. Citigroup Global Markets, Inc. 0.85%

Information Concerning Significant Venues:

1. KCG Americas LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 32.20%
Limit orders as percentage of total limit orders 19.86%
Other orders as percentage of total other orders 93.81%

2. Citadel Securities LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 25.74%
Limit orders as percentage of total limit orders 18.96%
Other orders as percentage of total other orders 0.00%

3. Direct Edge Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 30.14%
Other orders as percentage of total other orders 0.00%

4. Goldman, Sachs & Co.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 14.06%
Limit orders as percentage of total limit orders 6.09%
Other orders as percentage of total other orders 0.00%

5. Two Sigma Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 11.30%
Limit orders as percentage of total limit orders 2.79%
Other orders as percentage of total other orders 0.00%

6. National Financial Services LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 9.98%
Limit orders as percentage of total limit orders 4.19%
Other orders as percentage of total other orders 0.00%

7. UBS Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 4.52%
Limit orders as percentage of total limit orders 7.49%
Other orders as percentage of total other orders 6.19%

8. Nasdaq Execution Services, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.06%
Limit orders as percentage of total limit orders 4.09%
Other orders as percentage of total other orders 0.00%

9. Other
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 3.09%
Other orders as percentage of total other orders 0.00%

10. Citigroup Global Markets, Inc.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.82%
Limit orders as percentage of total limit orders 1.00%
Other orders as percentage of total other orders 0.00%

Securities Listed on NYSE MKT or Regional Exchanges

Summary Statistics:
Non-directed orders as percentage of total customer orders 100.00%
Market orders as percentage of total non-directed orders 70.85%
Limit orders as percentage of total non-directed orders 26.40%
Other orders as percentage of total non-directed orders 2.75%
Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. KCG Americas LLC 28.91%
2. Citadel Securities LLC 27.37%
3. Goldman, Sachs & Co. 20.24%
4. Two Sigma Securities, LLC 5.02%
5.  Direct Edge Exchange 4.86%
6. UBS Securities, LLC 4.86%
7. National Financial Services LLC 4.45%
8. Instinet LLC 0.97%
9. NYSE Arca 0.89%
10. BATS Exchange, Inc. 0.89%

Information Concerning Significant Venues:

1. KCG Americas LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 25.03%
Limit orders as percentage of total limit orders 38.34%
Other orders as percentage of total other orders 38.24%

2. Citadel Securities LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 31.89%
Limit orders as percentage of total limit orders 14.11%
Other orders as percentage of total other orders 38.24%

3. Goldman, Sachs & Co.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 26.40%
Limit orders as percentage of total limit orders 5.83%
Other orders as percentage of total other orders 0.00%

4. Two Sigma Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 6.17%
Limit orders as percentage of total limit orders 1.53%
Other orders as percentage of total other orders 8.82%

5. Direct Edge Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 18.40%
Other orders as percentage of total other orders 0.00%

6. UBS Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 3.20%
Limit orders as percentage of total limit orders 8.28%
Other orders as percentage of total other orders 14.71%

7. National Financial Services LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 5.37%
Limit orders as percentage of total limit orders 2.45%
Other orders as percentage of total other orders 0.00%

8. Instinet LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.26%
Limit orders as percentage of total limit orders 0.31%
Other orders as percentage of total other orders 0.00%

9. NYSE Arca
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 3.37%
Other orders as percentage of total other orders 0.00%

10. BATS Exchange, Inc.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 3.37%
Other orders as percentage of total other orders 0.00%

Exchange - Listed Options

Summary Statistics:
Non-directed orders as percentage of total customer orders 100.00%
Market orders as percentage of total non-directed orders 42.47%
Limit orders as percentage of total non-directed orders 57.53%
Other orders as percentage of total non-directed orders 0.00%
Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. Nasdaq Options Market 23.55%
2. The Chicago Board Options Exchange 16.60%
3. NASDAQ OMX PHLX 15.83%
4. The Boston Option Exchange 11.58%
5. NYSE Arca Options 11.20%
6.  The International Securities Exchange 6.56%
7. NYSE Amex Options 5.02%
8. UBS Securities, LLC 2.70%
9. BATS Options Exchange, Inc. 2.32%
10. Citigroup Global Markets, Inc. 1.93%

Information Concerning Significant Venues:

1. Nasdaq Options Market
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.91%
Limit orders as percentage of total limit orders 40.27%
Other orders as percentage of total other orders 0.00%

2. The Chicago Board Options Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 26.36%
Limit orders as percentage of total limit orders 9.40%
Other orders as percentage of total other orders 0.00%

3. NASDAQ OMX PHLX
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 21.82%
Limit orders as percentage of total limit orders 11.41%
Other orders as percentage of total other orders 0.00%

4. The Boston Option Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 25.45%
Limit orders as percentage of total limit orders 1.34%
Other orders as percentage of total other orders 0.00%

5. NYSE Arca Options
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.82%
Limit orders as percentage of total limit orders 18.12%
Other orders as percentage of total other orders 0.00%

6. The International Securities Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 4.55%
Limit orders as percentage of total limit orders 8.05%
Other orders as percentage of total other orders 0.00%

7. NYSE Amex Options
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 6.36%
Limit orders as percentage of total limit orders 4.03%
Other orders as percentage of total other orders 0.00%

8. UBS Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 6.36%
Limit orders as percentage of total limit orders 0.00%
Other orders as percentage of total other orders 0.00%

9. BATS Options Exchange, Inc.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 4.03%
Other orders as percentage of total other orders 0.00%

10. Citigroup Global Markets, Inc.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 3.64%
Limit orders as percentage of total limit orders 0.67%
Other orders as percentage of total other orders 0.00%