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| Johnston, Lemon routes greater than 90% of its orders to Pershing, LLC and its affiliate, Pershing Trading Company, LP ("Pershing, LLC"). Johnston, Lemon does not route greater than 5% of its trades to other market centers. Johnston, Lemon has a fully disclosed relationship with Pershing, LLC, our clearing broker. Johnston, Lemon does not receive compensation for directing order flow to Pershing, LLC. Pershing, LLC receives compensation for directing over-the-counter equity and listed options order flow to selected market makers and options specialists. Pershing, LLC also directs a percentage of listed equity order flow to certain exchanges or specialists and receives compensation in connection with the routing of such orders. Please refer to Routing Disclosure for Pershing, LLC's disclosure its of routing practices in compliance with SEC Rule 606 (formerly SEC 11Ac1-6). To access the information, type in "Johnston Lemon & Co Inc" in the box that appears. Please direct your inquiries to: Mr. Kenneth I. Miller 1101 Vermont Avenue NW Suite 800 Washington DC 20005. |