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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 December 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 71.16%
Limit orders as percentage of total non-directed orders 27.21%
Other orders as percentage of total non-directed orders 1.62%
Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. KCG Americas LLC 35.14%
2. Citadel Securities LLC 29.30%
3. Direct Edge Exchange 11.52%
4. Goldman, Sachs & Co. 8.19%
5. UBS Securities, LLC 4.10%
6. Instinet LLC 2.59%
7. Two Sigma Securities, LLC 1.89%
8. New York Stock Exchange 1.74%
9. National Financial Services LLC 1.55%
10. Citigroup Global Markets, Inc. 1.31%

Information Concerning Significant Venues:

1. KCG Americas LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 39.16%
Limit orders as percentage of total limit orders 23.58%
Other orders as percentage of total other orders 52.38%

2. Citadel Securities LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 35.31%
Limit orders as percentage of total limit orders 13.78%
Other orders as percentage of total other orders 26.19%

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 42.33%
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 10.32%
Limit orders as percentage of total limit orders 3.13%
Other orders as percentage of total other orders 0.00%

5. UBS Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 4.16%
Limit orders as percentage of total limit orders 3.27%
Other orders as percentage of total other orders 16.67%

6. Instinet LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 3.42%
Limit orders as percentage of total limit orders 0.57%
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 2.06%
Limit orders as percentage of total limit orders 1.56%
Other orders as percentage of total other orders 0.00%

8. 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 6.39%
Other orders as percentage of total other orders 0.00%

9. National Financial Services LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.63%
Limit orders as percentage of total limit orders 1.42%
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 1.74%
Limit orders as percentage of total limit orders 0.28%
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 71.66%
Limit orders as percentage of total non-directed orders 22.40%
Other orders as percentage of total non-directed orders 5.94%
Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. KCG Americas LLC 38.02%
2. Citadel Securities LLC 29.63%
3. Direct Edge Exchange 10.14%
4. Goldman, Sachs & Co. 8.91%
5. UBS Securities, LLC 4.07%
6. Nasdaq Stock Market 2.13%
7. National Financial Services LLC  1.48%
8. Citigroup Global Markets, Inc. 1.36%
9. Two Sigma Securities, LLC 1.36%
10. Instinet LLC 1.10%

Information Concerning Significant Venues:

1. KCG Americas LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 39.01%
Limit orders as percentage of total limit orders 22.48%
Other orders as percentage of total other orders 84.78%

2. Citadel Securities LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 36.13%
Limit orders as percentage of total limit orders 15.56%
Other orders as percentage of total other orders 4.35%

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 45.24%
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 10.99%
Limit orders as percentage of total limit orders 4.61%
Other orders as percentage of total other orders 0.00%

5. UBS Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 4.32%
Limit orders as percentage of total limit orders 2.88%
Other orders as percentage of total other orders 5.43%

6. Nasdaq Stock Market
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 0.90%
Limit orders as percentage of total limit orders 6.63%
Other orders as percentage of total other orders 0.00%

7. National Financial Services LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.80%
Limit orders as percentage of total limit orders 0.58%
Other orders as percentage of total other orders 1.09%

8. Citigroup Global Markets, Inc.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.71%
Limit orders as percentage of total limit orders 0.58%
Other orders as percentage of total other orders 0.00%

9. Two Sigma Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.71%
Limit orders as percentage of total limit orders 0.58%
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 1.53%
Limit orders as percentage of total limit orders 0.00%
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 85.17%
Limit orders as percentage of total non-directed orders 13.01%
Other orders as percentage of total non-directed orders 1.81%
Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. KCG Americas LLC 38.09%
2. Citadel Securities LLC 36.12%
3. Goldman, Sachs & Co. 10.41%
4. Direct Edge Exchange 3.63%
5. UBS Securities, LLC 3.39%
6. BATS Exchange, Inc. 2.21%
7. Two Sigma Securities, LLC 1.58%
8. Citigroup Global Markets, Inc. 1.34%
9. National Financial Services LLC 1.26%
10. Instinet LLC 1.18%

Information Concerning Significant Venues:

1. KCG Americas LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 40.83%
Limit orders as percentage of total limit orders 17.58%
Other orders as percentage of total other orders 56.52%

2. Citadel Securities LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 38.80%
Limit orders as percentage of total limit orders 17.58%
Other orders as percentage of total other orders 43.48%

3. Goldman, Sachs & Co.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 10.93%
Limit orders as percentage of total limit orders 8.48%
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 27.88%
Other orders as percentage of total other orders 0.00%

5. UBS Securities, LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 3.52%
Limit orders as percentage of total limit orders 3.03%
Other orders as percentage of total other orders 0.00%

6. 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 16.97%
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 1.76%
Limit orders as percentage of total limit orders 0.61%
Other orders as percentage of total other orders 0.00%

8. Citigroup Global Markets, Inc.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.57%
Limit orders as percentage of total limit orders 0.00%
Other orders as percentage of total other orders 0.00%

9. National Financial Services LLC
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 1.20%
Limit orders as percentage of total limit orders 1.82%
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 1.20%
Limit orders as percentage of total limit orders 1.21%
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 43.16%
Limit orders as percentage of total non-directed orders 56.84%
Other orders as percentage of total non-directed orders 0.00%
Venues Receiving Significant Percentage of Total Non-Directed Orders:
1. The Chicago Board Options Exchange 25.26%
2. Nasdaq Options Market 16.32%
3. NYSE Arca Options 12.63%
4.  NASDAQ OMX PHLX 9.47%
5. NYSE Amex Options 8.95%
6. Nasdaq OMX BX, Inc. 5.79%
7. The MIAX Options Exchange 5.26%
8. ISE Gemini Options Exchange 4.74%
9. The Boston Option Exchange 4.21%
10. BATS Options Exchange, Inc. 3.16%

Information Concerning Significant Venues:

1. The Chicago Board Options Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 31.71%
Limit orders as percentage of total limit orders 20.37%
Other orders as percentage of total other orders 0.00%

2. 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 28.70%
Other orders as percentage of total other orders 0.00%

3. NYSE 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 22.22%
Other orders as percentage of total other orders 0.00%

4. NASDAQ OMX PHLX
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 15.85%
Limit orders as percentage of total limit orders 4.63%
Other orders as percentage of total other orders 0.00%

5. NYSE Amex Options
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 17.07%
Limit orders as percentage of total limit orders 2.78%
Other orders as percentage of total other orders 0.00%

6. Nasdaq OMX BX, Inc.
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 9.76%
Limit orders as percentage of total limit orders 2.78%
Other orders as percentage of total other orders 0.00%

7. The MIAX Options Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 10.98%
Limit orders as percentage of total limit orders 0.93%
Other orders as percentage of total other orders 0.00%

8. 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 8.33%
Other orders as percentage of total other orders 0.00%

9. The Boston Option Exchange
Types of Orders Routed to Venue:  
Market orders as percentage of total market orders 8.54%
Limit orders as percentage of total limit orders 0.93%
Other orders as percentage of total other orders 0.00%

10. 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 5.56%
Other orders as percentage of total other orders 0.00%