Download Note: Broker-dealers are required to disclose any material

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.
MDG
MIDDLEGATE SECURITIES, LTD
8 WEST 40TH STREET
NEW YORK, NY10018
SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2008
Securities Listed on New York Stock Exchange
Summary Statistics :
Non-directed orders as percentage of total customer orders
Market orders as percentage of total non-directed orders
Limit orders as percentage of total non-directed orders
Other orders as percentage of total non-directed orders
100.00%
31.92%
65.96%
2.12%
Venues Receiving Significant Percentage of Total Non-Directed Orders :
1.
2.
3.
4.
5.
6.
7.
8.
9.
UBS Securities, L.L.C.
Knight Capital Markets, L.L.C.
Automated Trading Desk Financial Services, L.L.C.
Citadel Derivatives Group LLC
NYSE ARCA
Madoff (Bernard L.) Investment Securities, L.L.C.
National Financial Services Corporation
Middlegate Securities Ltd.
New York Stock Exchange LLC.
90.97%
5.02%
1.52%
0.96%
0.84%
0.39%
0.21%
0.06%
0.03%
Information Concerning Significant Venues :
1.
UBS Securities, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
2.
89.70%
91.98%
78.87%
Knight Capital Markets, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
3.37%
5.35%
19.72%
Page 1 of 8
3.
Automated Trading Desk Financial Services, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
4.
3.75%
0.45%
1.41%
Citadel Derivatives Group LLC
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
5.
1.69%
0.63%
0.00%
NYSE ARCA
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
6.
0.00%
1.27%
0.00%
Madoff (Bernard L.) Investment Securities, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
7.
0.84%
0.18%
0.00%
National Financial Services Corporation
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
8.
0.37%
0.14%
0.00%
Middlegate Securities Ltd.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
9.
0.19%
0.00%
0.00%
New York Stock Exchange LLC.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
0.09%
0.00%
0.00%
Page 2 of 8
Securities Listed on The Nasdaq Stock Market
Summary Statistics :
Non-directed orders as percentage of total customer orders
Market orders as percentage of total non-directed orders
Limit orders as percentage of total non-directed orders
Other orders as percentage of total non-directed orders
100.00%
19.49%
79.15%
1.37%
Venues Receiving Significant Percentage of Total Non-Directed Orders :
1.
2.
3.
4.
5.
6.
7.
8.
UBS Securities, L.L.C.
Citadel Derivatives Group LLC
NYSE ARCA
Knight Equity Markets, L.P.
Middlegate Securities Ltd.
Automated Trading Desk Financial Services, L.L.C.
Madoff (Bernard L.) Investment Securities, L.L.C.
Citigroup Global Markets, Inc.
95.26%
1.15%
1.11%
0.85%
0.68%
0.60%
0.21%
0.13%
Information Concerning Significant Venues :
1.
UBS Securities, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
2.
86.84%
97.30%
96.88%
Citadel Derivatives Group LLC
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
3.
2.85%
0.76%
0.00%
NYSE ARCA
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
4.
0.00%
1.40%
0.00%
Knight Equity Markets, L.P.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
5.
2.85%
0.32%
3.13%
Middlegate Securities Ltd.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
3.51%
0.00%
0.00%
Page 3 of 8
6.
Automated Trading Desk Financial Services, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
7.
2.41%
0.16%
0.00%
Madoff (Bernard L.) Investment Securities, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
8.
0.88%
0.05%
0.00%
Citigroup Global Markets, Inc.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
0.66%
0.00%
0.00%
Page 4 of 8
Securities Listed on NYSE Alternext or Regional Exchanges
Summary Statistics :
Non-directed orders as percentage of total customer orders
Market orders as percentage of total non-directed orders
Limit orders as percentage of total non-directed orders
Other orders as percentage of total non-directed orders
100.00%
34.01%
56.69%
9.30%
Venues Receiving Significant Percentage of Total Non-Directed Orders :
1.
2.
3.
4.
5.
6.
7.
UBS Securities, L.L.C.
Citadel Derivatives Group LLC
Knight Capital Markets, L.L.C.
NYSE ARCA
Madoff (Bernard L.) Investment Securities, L.L.C.
Automated Trading Desk Financial Services, L.L.C.
Archipelago Trading Services, Inc.
42.93%
27.29%
13.76%
6.80%
4.08%
3.85%
1.28%
Information Concerning Significant Venues :
1.
UBS Securities, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
2.
54.89%
39.60%
19.51%
Citadel Derivatives Group LLC
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
3.
18.00%
30.27%
43.09%
Knight Capital Markets, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
4.
14.22%
14.13%
9.76%
NYSE ARCA
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
5.
0.00%
12.00%
0.00%
Madoff (Bernard L.) Investment Securities, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
8.44%
2.13%
0.00%
Page 5 of 8
6.
Automated Trading Desk Financial Services, L.L.C.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
7.
2.00%
1.07%
27.64%
Archipelago Trading Services, Inc.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
2.44%
0.80%
0.00%
Page 6 of 8
Exchange - Listed Options
Summary Statistics :
Non-directed orders as percentage of total customer orders
Market orders as percentage of total non-directed orders
Limit orders as percentage of total non-directed orders
Other orders as percentage of total non-directed orders
100.00%
50.20%
48.43%
1.37%
Venues Receiving Significant Percentage of Total Non-Directed Orders :
1.
2.
3.
4.
5.
6.
7.
8.
The International Securitites Exchange
The Chicago Board Options Exchange
The Philadelphia Stock Exchange
Goldman, Sachs & Co.
NYSE ARCA
The Boston Option Exchange
The American Stock Exchange
Nasdaq Options Market
26.37%
21.76%
18.82%
14.90%
11.08%
4.22%
2.16%
0.69%
Information Concerning Significant Venues :
1.
The International Securitites Exchange
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
2.
36.13%
16.80%
7.14%
The Chicago Board Options Exchange
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
3.
19.53%
22.06%
92.86%
The Philadelphia Stock Exchange
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
4.
17.38%
20.85%
0.00%
Goldman, Sachs & Co.
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
5.
11.91%
18.42%
0.00%
NYSE ARCA
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
6.84%
15.79%
0.00%
Page 7 of 8
6.
The Boston Option Exchange
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
7.
4.49%
4.05%
0.00%
The American Stock Exchange
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
8.
3.13%
1.21%
0.00%
Nasdaq Options Market
Types of Orders Routed to Venue :
Market orders as percentage of total market orders
Limit orders as percentage of total limit orders
Other orders as percentage of total other orders
0.59%
0.81%
0.00%
Page 8 of 8