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UBS Financial Services Inc. 1000 Harbor Boulevard Weehawken, New Jersey 07086 (201) 352-3000 SEC Required Report on Routing of Customer Orders For Quarter Ending March 31, 2017 UBS Financial Services Inc. has prepared this report pursuant to a U.S. Securities and Exchange Commission rule requiring all brokerage firms to make publicly available quarterly reports on their order routing practices. The report provides information on the routing of “non-directed orders” – any order that the customer has not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, UBS Financial Services Inc. has selected the execution venue on behalf of its customers. The report is divided into four sections: one for securities listed on the New York Stock Exchange, one for securities listed on The Nasdaq Stock Market, one for securities listed on the NYSE AMEX or regional exchanges, and one for exchange-listed options. For each section, this report identifies the venues most often selected by UBS Financial Services Inc., sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of UBS Financial Service’s relationship with the venues. Securities Listed on New York Stock Exchange Summary Statistics: Q1 2017 Non-directed orders as percentage of total customer orders 100.00% 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 95.64% 3.93% 0.43% Venues Receiving Significant Percentage of Total Non-Directed Orders: 1. UBS SECURITIES LLC 2. KNIGHT CAPITAL GROUP 3. CITI CAPITAL MARKETS 4. NEW YORK STOCK EXCHANGE 5. NYSE ALTERNEXT 6. NYSE ARCA 7. PHILADELPHIA STOCK EXCHANGE 90.72% 3.41% 2.94% 2.93% 0.00% 0.00% 0.00% Information Concerning Significant Venues: 1. UBS SECURITIES 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 90.63% 92.05% 98.88% Material Aspects of Relationship with Venue: UBS Financial Services Inc. is an affiliate of UBS Securities LLC. Both UBS Financial Services Inc. and UBS Securities LLC are registered broker/dealers that are wholly owned by UBS AG, a publicly owned Swiss banking corporation. UBS Financial Services Inc. sends orders in certain equity securities to UBS Securities LLC to execute on a principal or agency basis, subject to principles of best execution. UBS Securities LLC may have a profit or loss when executing orders as principal. UBS Financial Services Inc. may have received sales credits for orders executed by UBS Securities LLC, as principal, on behalf of clients of UBS Financial Services Inc. 2. KNIGHT CAPITAL GROUP 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 3.43% 3.42% 0.00% Material Aspects of Relationship with Venue: None 3. CITI CAPITAL MARKETS 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 3.02% 1.15% 0.18% Material Aspects of Relationship with Venue: None 4. NEW YORK STOCK EXCHANGE Page 1 of 5 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 2.92% 3.38% 0.94% Material Aspects of Relationship with Venue: None 5. NYSE ALTERNEXT 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 0.00% 0.00% 0.00% Material Aspects of Relationship with Venue: None Securities Listed on The Nasdaq Stock Market Summary Statistics: Q1 2017 Non-directed orders as percentage of total customer orders 100.00% 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 92.92% 6.51% 0.56% Venues Receiving Significant Percentage of Total Non-Directed Orders: 1. UBS SECURITIES LLC 2. KNIGHT CAPITAL GROUP 3. NEW YORK 4. UBS OTC 5. NYSE ALTERNEXT 97.75% 2.24% 0.00% 0.00% 0.00% Information Concerning Significant Venues: 1. UBS SECURITIES 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 97.76% 97.54% 99.08% Material Aspects of Relationship with Venue: UBS Financial Services Inc. is an affiliate of UBS Securities LLC. Both UBS Financial Services Inc. and UBS Securities LLC are registered broker/dealers that are wholly owned by UBS AG, a publicly owned Swiss banking corporation. UBS Financial Services Inc. sends orders in certain equity securities to UBS Securities LLC to execute on a principal or agency basis, subject to principles of best execution. UBS Securities LLC may have a profit or loss when executing orders as principal. UBS Financial Services Inc. may have received sales credits for orders executed by UBS Securities LLC, as principal, on behalf of clients of UBS Financial Services Inc. 2. KNIGHT CAPITAL GROUP 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 2.24% 2.45% 0.92% Material Aspects of Relationship with Venue: None 3. NEW YORK 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 0.00% 0.01% 0.00% Material Aspects of Relationship with Venue: None 4. UBS OTC Types of Orders Routed to Venue: Page 2 of 5 Market orders as percentage of total market orders Limit orders as percentage of total limit orders Other orders as percentage of total other orders 0.00% 0.00% 0.00% Material Aspects of Relationship with Venue: None 5. NYSE ALTERNEXT 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 0.00% 0.00% 0.00% Material Aspects of Relationship with Venue: None Securities Listed on NYSE AMEX or Regional Exchanges Summary Statistics: Q1 2017 Non-directed orders as percentage of total customer orders 100.00% 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 95.91% 3.59% 0.50% Venues Receiving Significant Percentage of Total Non-Directed Orders: 1. UBS SECURITIES LLC 2. CITI CAPITAL MARKETS 3. NYSE ALTERNEXT 4. NYSE ARCA 5. KNIGHT CAPITAL GROUP 99.93% 0.06% 0.00% 0.01% 0.00% Information Concerning Significant Venues: 1. UBS SECURITIES 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 99.94% 99.72% 99.84% Material Aspects of Relationship with Venue: UBS Financial Services Inc. is an affiliate of UBS Securities LLC. Both UBS Financial Services Inc. and UBS Securities LLC are registered broker/dealers that are wholly owned by UBS AG, a publicly owned Swiss banking corporation. UBS Financial Services Inc. sends orders in certain equity securities to UBS Securities LLC to execute on a principal or agency basis, subject to principles of best execution. UBS Securities LLC may have a profit or loss when executing orders as principal. UBS Financial Services Inc. may have received sales credits for orders executed by UBS Securities LLC, as principal, on behalf of clients of UBS Financial Services Inc. 2. CITI CAPITAL MARKETS 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 0.05% 0.12% 0.03% Material Aspects of Relationship with Venue: None 3. NYSE ALTERNEXT 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 0.00% 0.09% 0.10% Material Aspects of Relationship with Venue: None 4. NYSE ARCA Types of Orders Routed to Venue: Market orders as percentage of total market orders 0.00% Page 3 of 5 Limit orders as percentage of total limit orders Other orders as percentage of total other orders 0.07% 0.03% Material Aspects of Relationship with Venue: None 5. NEW YORK 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 0.00% 0.00% 0.00% Material Aspects of Relationship with Venue: None 5. KNIGHT CAPITAL GROUP 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 0.00% 0.00% 0.00% Material Aspects of Relationship with Venue: None Exchange Listed Options Summary Statistics: Q1 2017 Non-directed orders as percentage of total customer orders 100.00% 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 40.35% 59.63% 0.01% Venues Receiving Significant Percentage of Total Non-Directed Orders: 1. Chicago Board Options Exchange 2. Susquehanna Investment Group 3. CITADEL 4. CITI CAPITAL MARKETS 5. Wolverine 6. American Stock Exchange 7. Archipelago Exchange 8. Philadelphia Stock Exchange 9. International Securities Exchange 10. MIAX 43.46% 14.56% 13.74% 13.20% 7.20% 3.75% 3.62% 0.25% 0.20% 0.00% Information Concerning Significant Venues: 1. 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 1.93% 71.57% 0.00% Material Aspects of Relationship with Venue: None 2. Susquehanna Investment Group 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 29.09% 4.73% 0.00% Material Aspects of Relationship with Venue: None 3. CITADEL 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 27.84% 4.21% 0.00% Material Aspects of Relationship with Venue: None Page 4 of 5 4. CITI CAPITAL MARKETS 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 26.40% 4.26% 91.30% Material Aspects of Relationship with Venue: None 5. Wolverine 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 14.38% 2.34% 0.00% Material Aspects of Relationship with Venue: None 6. 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 0.14% 6.18% 8.70% Material Aspects of Relationship with Venue: None 7. Archipelago 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 0.17% 5.95% 0.00% Material Aspects of Relationship with Venue: None 8. 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 0.03% 0.40% 0.00% Material Aspects of Relationship with Venue: None 9. International Securities 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 0.01% 0.33% 0.00% 10. MIAX 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 0.00% 0.00% 0.00% Material Aspects of Relationship with Venue: None Page 5 of 5