SEC-Required Disclosure: Report on Routing of Customer Orders

RBC Correspondent Services (RBC CS) has provided information pursuant to a U.S. Securities and Exchange Commission rule (11Ac1-6) that requires firms to make publicly available, quarterly reports on the firm's order routing practices. The report provides information on the routing of "non-directed orders" which is generally defined as any order that the client has not specifically instructed to be routed to a particular venue for execution.

For these non-directed orders, RBC CS has selected the execution venue on behalf of its clients.

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 American Stock Exchange or regional exchanges, and one for exchange-listed options.

For each section, this report identifies the venues most often selected by RBC CS, sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of RBC CS's relationship with the venues.

Transaction Auditing Group (TAG) has been selected to disseminate on their public Web site theĀ Order Handling Disclosure ReportĀ for RBC CS. When you select this link you will be leaving the RBC CS Web site.