Order Flow

Securities and Exchange Commission (SEC) Rule 11 AC1-3 requires that all broker/dealers notify their customers of their payment for order flow practices (POF) at the time of account opening and on an annual basis thereafter. Be advised that Avondale Partners, LLC routes orders to various exchanges and market centers for execution based upon a number of criteria. These include: size of the order, trading characteristics of the security, reliable market data, price improvement opportunities and execution costs. Avondale Partners, LLC does not receive any payments for order flow from any broker/dealer, national securities exchange, registered securities association or exchange member to which it routes customer’s orders for execution. Certain market centers may execute orders at prices superior to the publicly quoted market in accordance with their rules and practices. While a customer may specify that an order be directed to a particular market center for execution, the order-routing policies, taking into consideration all of the factors listed above, are designed to result in favorable transaction processing for customers.