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 June 30, 2018

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 76.98%
Limit orders as percentage of total non-directed orders 18.94%
Other orders as percentage of total non-directed orders 4.07%

Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. VIRTU Americas LLC 38.33%
2. Citadel Securities LLC 36.01%
3. New York Stock Exchange 4.74%
4. NASDAQ Execution Services, LLC 3.85%
5. Cboe EDGX U.S. Equities Exchange 3.63%
6. G1 Execution Services, LLC 3.41%
7. Two Sigma Securities, LLC 2.86%
8. Cboe BYX U.S. Equities Exchange 2.09%
9. Instinet LLC 1.87%
10. BNY Mellon Capital Markets LLC 0.55%

Information Concerning Significant Venues:

1. VIRTU Americas LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 43.78%
Limit orders as percentage of total limit orders 20.93%
Other orders as percentage of total other orders 16.22%

2. Citadel Securities LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 42.20%
Limit orders as percentage of total limit orders 12.21%
Other orders as percentage of total other orders 29.73%

3. New York Stock 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 23.26%
Other orders as percentage of total other orders 8.11%

4. NASDAQ Execution Services, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 20.35%
Other orders as percentage of total other orders 0.00%

5. Cboe EDGX U.S. Equities 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 18.60%
Other orders as percentage of total other orders 2.70%

6. G1 Execution Services, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 4.29%
Limit orders as percentage of total limit orders 0.58%
Other orders as percentage of total other orders 0.00%

7. Two Sigma Securities, LLC 
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 3.43%
Limit orders as percentage of total limit orders 1.16%
Other orders as percentage of total other orders0.00%

8. Cboe BYX U.S. Equities Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 2.58%
Limit orders as percentage of total limit orders 0.58%
Other orders as percentage of total other orders 0.00%

9. Instinet LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 2.29%
Limit orders as percentage of total limit orders 0.58%
Other orders as percentage of total other orders 0.00%

10. BNY Mellon Capital Markets LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orderss 0.72%
Limit orders as percentage of total limit orders 0.00%
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 75.49%
Limit orders as percentage of total non-directed orders 19.91%
Other orders as percentage of total non-directed orders 4.60%
Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. VIRTU Americas LLC 40.19%
2. Citadel Securities  LLC 35.40%
3. Cboe EDGX U.S. Equities Exchange 5.26%
4. NASDAQ Execution Services, LLC 4.51%
5. Two Sigma Securities, LLC 3.94%
6. G1 Execution Services, LLC 3.66%
7. Instinet LLC 1.97%
8. Cboe BYX U.S. Equities Exchange 1.13%
9. Morgan Stanley & Co. Incorporated 0.94%
10. National Financial Services LLC 0.94%

Information Concerning Significant Venues:

1. VIRTU Americas LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 45.90%
Limit orders as percentage of total limit orders 24.06%
Other orders as percentage of total other orders 16.33%

2. Citadel Securities LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 40.92%
Limit orders as percentage of total limit orders 21.70%
Other orders as percentage of total other orders 4.08%

3. Cboe EDGX U.S. Equities 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 25.94%
Other orders as percentage of total other orders 2.04%

4. NASDAQ Execution Services, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 21.70%
Other orders as percentage of total other orders 4.08%

5. Two Sigma Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 4.23%
Limit orders as percentage of total limit orders 2.36%
Other orders as percentage of total other orders 6.12%

6. G1 Execution Services, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 4.60%
Limit orders as percentage of total limit orders 0.94%
Other orders as percentage of total other orders 0.00%

7. Instinet LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 2.49%
Limit orders as percentage of total limit orders 0.47%
Other orders as percentage of total other orders 0.00%

8. Cboe BYX U.S. Equities Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.37%
Limit orders as percentage of total limit orders 0.47%
Other orders as percentage of total other orders 0.00%

9. Morgan Stanley & Co. Incorporated
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.12%
Limit orders as percentage of total limit orders 0.00%
Other orders as percentage of total other orders 18.37%

10. National Financial Services LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 0.00%
Other orders as percentage of total other orders 20.41%

Securities Listed on NYSE American 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 56.41%
Limit orders as percentage of total non-directed orders 16.32%
Other orders as percentage of total non-directed orders 27.27%

Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. VIRTU Americas LLC 38.23%
2. Citadel Securities LLC 31.47%
3. National Financial Services LLC 6.29%
4. G1 Execution Services, LLC 3.50%
5. Two Sigma Securities, LLC 3.50%
6. Cboe EDGX U.S. Equities Exchange 2.56%
7. NASDAQ Execution Services, LLC 2.56%
8. Cboe BYX U.S. Equities Exchange 2.56%
9. Instinet LLC 1.17%
10. Morgan Stanley & Co. Incorporated 1.17%

Information Concerning Significant Venues:

1. VIRTU Americas LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 39.26%
Limit orders as percentage of total limit orders 35.71%
Other orders as percentage of total other orders 37.61%

2. Citadel Securities LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 42.98%
Limit orders as percentage of total limit orders 34.29%
Other orders as percentage of total other orders 5.98%

3. National Financial Services LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 0.00%
Other orders as percentage of total other orders 23.08%

4. G1 Execution Services, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 4.55%
Limit orders as percentage of total limit orders 5.71%
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 5.37%
Limit orders as percentage of total limit orders 2.86%
Other orders as percentage of total other orders 0.00%

6. Cboe EDGX U.S. Equities 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 10.00%
Other orders as percentage of total other orders 3.42%

7. NASDAQ Execution Services, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 7.14%
Other orders as percentage of total other orders 5.13%

8. Cboe BYX U.S. Equities 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 0.00%
Other orders as percentage of total other orders 0.00%

9. Instinet LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 2.07%
Limit orders as percentage of total limit orders 0.00%
Other orders as percentage of total other orders 0.00%

10. Morgan Stanley & Co. Incorporated
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 0.00%
Other orders as percentage of total other orders 4.27%

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 50.50%
Limit orders as percentage of total non-directed orders 49.50%
Other orders as percentage of total non-directed orders 0.00%

Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. Cboe Options Exchange 24.50%
2. NASDAQ PHLX Options 23.50%
3. NYSE Arca Options 10.50%
4. The MIAX Options Exchange 10.50%
5. ISE Gemini Options Exchange 9.50%
6. BOX Option Exchange 6.50%
7. NASDAQ Options Market 6.00%
8. NYSE American Options 4.50%
9. Cboe EDGX Options Exchange, Inc. 3.00%
10. Cboe C2 Option Exchange 1.00%

Information Concerning Significant Venues:

1. Cboe Options Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 41.58%
Limit orders as percentage of total limit orders 7.07%
Other orders as percentage of total other orders 0.00%

2. NASDAQ PHLX Options
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 32.67%
Limit orders as percentage of total limit orders 14.14%
Other orders as percentage of total other orders 0.00%

3. NASDAQ Arca Options
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 21.21%
Other orders as percentage of total other orders 0.00%

4. The MIAX Options Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 9.90%
Limit orders as percentage of total limit orders 11.11%
Other orders as percentage of total other orders 0.00%

5. ISE Gemini Options 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 19.19%
Other orders as percentage of total other orders 0.00%

6. BOX Option Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 3.96%
Limit orders as percentage of total limit orders 9.09%
Other orders as percentage of total other orders 0.00%

7. NASDAQ Options Market
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.00%
Limit orders as percentage of total limit orders 12.12%
Other orders as percentage of total other orders 0.00%

8. NYSE American Options
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 7.92%
Limit orders as percentage of total limit orders 1.01%
Other orders as percentage of total other orders 0.00%

9. Cboe EDGX Options Exchange, Inc.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.98%
Limit orders as percentage of total limit orders 4.04%
Other orders as percentage of total other orders 0.00%

10. Cboe C2 Option Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.99%
Limit orders as percentage of total limit orders 1.01%
Other orders as percentage of total other orders 0.00%

Last Updated: 7/20/2018