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Section B: United States SEC Rule 606 – quarterly reports from investment firms on order routing.37. Reports must be published within one month of the end of the preceding quarter and comprise:i.ii.iii.iv.v.vi.non-directed orders only (not those in response clients’ specific instructions);4 sections (NYSE, NASDAQ, American Stock Exchange and options contracts);broken down into market, limit and other orders;top ten venues and any venue to which >5% of orders were directed, broken down by order type,as above;disclosure of inducements (payment for order flow) between investment firms and venues; andlarge in scale ($50,000 for an options contract or $200,000 for others) excluded.Section C: Potential relevant data, metrics and benchmarks38. Potential relevant data, metrics and benchmarks include:i.ii.iii.iv.v.vi.vii.viii.ix.x.security name (there may be some issues to facilitate comparison between venues where differenttickers are used);number of financial instruments;transaction amount (number of financial instruments multiplied by price);order size categories – if a benchmark VBBO is used such as €10,000 for small orders and€25,000 for larger orders – i.e. set amounts;benchmark: VBBO for a pertinent market depth;order time/time category – this refers to grouping the transactions into time categories (hourly,monthly etc.);comparison of execution price against VBBO;VBBO per security published at set times to facilitate comparison between venues;book depths 30 (e.g. 10 bps depth): if the mid-price of a stock is €5.00, the '10BPS liquidity' figurewill measure the total value of all bids and offers in the order book with prices between 4.995 and5.005;average trade size;30If standardised book depths were published at set times e.g. daily, at the same time, in the same amounts, then comparisons couldbe made between venues.35

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