Note:  Broker-dealers are required to disclose any material arrangements with the venues listed in  
	each section below, including, but not limited to, any internalization or payment for order flow
	arrangements.
	KH5
	JOSEPH GUNNAR & CO., LLC
	30 BROAD STREET
	11TH FLOOR
	NEW YORK, NY 10004
	SEC Rule 606 Quarterly Report for the Quarter Ending June 30, 2012
	Securities Listed on New York Stock Exchange
	Summary Statistics :
	Non-directed orders as percentage of total customer orders	100.00%
	Market orders as percentage of total non-directed orders	79.74%
	Limit orders as percentage of total non-directed orders	18.27%
	Other orders as percentage of total non-directed orders	1.99%
	Venues Receiving Significant Percentage of Total Non-Directed Orders :
	1.	Knight Capital Markets, LLC	              39.31%
	2.	Citadel Securities LLC	              17.37%
	3.	UBS Securities, LLC	                9.89%
	4.	National Financial Services LLC	                8.68%
	5.	Goldman, Sachs & Co.	                6.91%
	6.	Two Sigma Securities, LLC	                5.53%
	7.	Direct Edge Exchange	                3.41%
	8.	AlterNet Securities Inc.	                2.07%
	9.	BATS Exchange, Inc.	                1.90%
	10.	Instinet L.L.C.	                1.38%
	Information Concerning Significant Venues :
	1.	Knight Capital Markets, LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              38.89%
	Limit orders as percentage of total limit orders	              38.53%
	Other orders as percentage of total other orders	              63.04%
	2.	Citadel Securities LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              19.34%
	Limit orders as percentage of total limit orders	                7.80%
	Other orders as percentage of total other orders	              26.09%
	Page 1 of 8

	3.	UBS Securities, LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              11.38%
	Limit orders as percentage of total limit orders	                3.31%
	Other orders as percentage of total other orders	              10.87%
	4.	National Financial Services LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                9.32%
	Limit orders as percentage of total limit orders	                6.86%
	Other orders as percentage of total other orders	                0.00%
	5.	Goldman, Sachs & Co.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                8.45%
	Limit orders as percentage of total limit orders	                0.95%
	Other orders as percentage of total other orders	                0.00%
	6.	Two Sigma Securities, LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                6.55%
	Limit orders as percentage of total limit orders	                1.65%
	Other orders as percentage of total other orders	                0.00%
	7.	Direct Edge Exchange
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.00%
	Limit orders as percentage of total limit orders	              18.68%
	Other orders as percentage of total other orders	                0.00%
	8.	AlterNet Securities Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                2.28%
	Limit orders as percentage of total limit orders	                1.42%
	Other orders as percentage of total other orders	                0.00%
	9.	BATS Exchange, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.00%
	Limit orders as percentage of total limit orders	              10.40%
	Other orders as percentage of total other orders	                0.00%
	10.	Instinet L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                1.52%
	Limit orders as percentage of total limit orders	                0.95%
	Other orders as percentage of total other orders	                0.00%
	Page 2 of 8

	Securities Listed on The Nasdaq Stock Market
	Summary Statistics :
	Non-directed orders as percentage of total customer orders	100.00%
	Market orders as percentage of total non-directed orders	76.40%
	Limit orders as percentage of total non-directed orders	21.05%
	Other orders as percentage of total non-directed orders	2.55%
	Venues Receiving Significant Percentage of Total Non-Directed Orders :
	1.	Knight Equity Markets, L.P.	              45.62%
	2.	Citadel Securities LLC	              12.74%
	3.	UBS Securities, LLC	              11.86%
	4.	Direct Edge Exchange	                7.29%
	5.	National Financial Services LLC	                5.67%
	6.	Two Sigma Securities, LLC	                5.42%
	7.	Goldman, Sachs & Co.	                4.43%
	8.	Citigroup Global Markets, Inc.	                1.45%
	9.	NYSE Arca	                1.36%
	10.	AlterNet Securities Inc.	                1.25%
	Information Concerning Significant Venues :
	1.	Knight Equity Markets, L.P.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              49.20%
	Limit orders as percentage of total limit orders	              27.09%
	Other orders as percentage of total other orders	              91.11%
	2.	Citadel Securities LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              14.70%
	Limit orders as percentage of total limit orders	                7.01%
	Other orders as percentage of total other orders	                1.11%
	3.	UBS Securities, LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              13.03%
	Limit orders as percentage of total limit orders	                8.36%
	Other orders as percentage of total other orders	                5.56%
	4.	Direct Edge Exchange
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.00%
	Limit orders as percentage of total limit orders	              34.64%
	Other orders as percentage of total other orders	                0.00%
	5.	National Financial Services LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                5.50%
	Limit orders as percentage of total limit orders	                7.01%
	Other orders as percentage of total other orders	                0.00%
	Page 3 of 8

	6.	Two Sigma Securities, LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                6.72%
	Limit orders as percentage of total limit orders	                1.35%
	Other orders as percentage of total other orders	                0.00%
	7.	Goldman, Sachs & Co.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                5.61%
	Limit orders as percentage of total limit orders	                0.67%
	Other orders as percentage of total other orders	                0.00%
	8.	Citigroup Global Markets, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                1.34%
	Limit orders as percentage of total limit orders	                1.75%
	Other orders as percentage of total other orders	                2.22%
	9.	NYSE Arca
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.00%
	Limit orders as percentage of total limit orders	                6.47%
	Other orders as percentage of total other orders	                0.00%
	10.	AlterNet Securities Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                1.52%
	Limit orders as percentage of total limit orders	                0.40%
	Other orders as percentage of total other orders	                0.00%
	Page 4 of 8

	Securities Listed on NYSE MKT or Regional Exchanges
	Summary Statistics :
	Non-directed orders as percentage of total customer orders	100.00%
	Market orders as percentage of total non-directed orders	70.30%
	Limit orders as percentage of total non-directed orders	18.42%
	Other orders as percentage of total non-directed orders	11.28%
	Venues Receiving Significant Percentage of Total Non-Directed Orders :
	1.	Knight Capital Markets, LLC	              47.74%
	2.	Citadel Securities LLC	              19.17%
	3.	Two Sigma Securities, LLC	              15.41%
	4.	National Financial Services LLC	                3.76%
	5.	Direct Edge Exchange	                2.26%
	6.	UBS Securities, LLC	                2.26%
	7.	NYSE Arca	                1.88%
	8.	LavaFlow, Inc.	                1.88%
	9.	Goldman, Sachs & Co.	                1.88%
	10.	BATS Exchange, Inc.	                1.13%
	Information Concerning Significant Venues :
	1.	Knight Capital Markets, LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              58.29%
	Limit orders as percentage of total limit orders	              32.65%
	Other orders as percentage of total other orders	                6.67%
	2.	Citadel Securities LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              10.16%
	Limit orders as percentage of total limit orders	                8.16%
	Other orders as percentage of total other orders	              93.33%
	3.	Two Sigma Securities, LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              19.25%
	Limit orders as percentage of total limit orders	              10.20%
	Other orders as percentage of total other orders	                0.00%
	4.	National Financial Services LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                3.74%
	Limit orders as percentage of total limit orders	                6.12%
	Other orders as percentage of total other orders	                0.00%
	5.	Direct Edge Exchange
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.00%
	Limit orders as percentage of total limit orders	              12.24%
	Other orders as percentage of total other orders	                0.00%
	Page 5 of 8

	6.	UBS Securities, LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                3.21%
	Limit orders as percentage of total limit orders	                0.00%
	Other orders as percentage of total other orders	                0.00%
	7.	NYSE Arca
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.00%
	Limit orders as percentage of total limit orders	              10.20%
	Other orders as percentage of total other orders	                0.00%
	8.	LavaFlow, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.00%
	Limit orders as percentage of total limit orders	              10.20%
	Other orders as percentage of total other orders	                0.00%
	9.	Goldman, Sachs & Co.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                2.14%
	Limit orders as percentage of total limit orders	                2.04%
	Other orders as percentage of total other orders	                0.00%
	10.	BATS Exchange, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.00%
	Limit orders as percentage of total limit orders	                6.12%
	Other orders as percentage of total other orders	                0.00%
	Page 6 of 8

	Exchange - Listed Options
	Summary Statistics :
	Non-directed orders as percentage of total customer orders	100.00%
	Market orders as percentage of total non-directed orders	25.71%
	Limit orders as percentage of total non-directed orders	74.29%
	Other orders as percentage of total non-directed orders	0.00%
	Venues Receiving Significant Percentage of Total Non-Directed Orders :
	1.	The Chicago Board Options Stock Exchange	              41.57%
	2.	NASDAQ OMX PHLX	              14.86%
	3.	BATS Options Exchange, Inc.	              10.71%
	4.	NYSE Amex Options	                9.86%
	5.	The Boston Option Exchange	                8.14%
	6.	Nasdaq Execution Services, LLC	                6.71%
	7.	NYSE Arca Options	                5.86%
	8.	The International Securities Exchange	                2.29%
	Information Concerning Significant Venues :
	1.	The Chicago Board Options Stock Exchange
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              37.78%
	Limit orders as percentage of total limit orders	              42.88%
	Other orders as percentage of total other orders	                0.00%
	2.	NASDAQ OMX PHLX
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              13.33%
	Limit orders as percentage of total limit orders	              15.38%
	Other orders as percentage of total other orders	                0.00%
	3.	BATS Options Exchange, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                3.33%
	Limit orders as percentage of total limit orders	              13.27%
	Other orders as percentage of total other orders	                0.00%
	4.	NYSE Amex Options
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              16.11%
	Limit orders as percentage of total limit orders	                7.69%
	Other orders as percentage of total other orders	                0.00%
	5.	The Boston Option Exchange
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              19.44%
	Limit orders as percentage of total limit orders	                4.23%
	Other orders as percentage of total other orders	                0.00%
	Page 7 of 8

	6.	Nasdaq Execution Services, LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                2.78%
	Limit orders as percentage of total limit orders	                8.08%
	Other orders as percentage of total other orders	                0.00%
	7.	NYSE Arca Options
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                3.89%
	Limit orders as percentage of total limit orders	                6.54%
	Other orders as percentage of total other orders	                0.00%
	8.	The International Securities Exchange
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                3.33%
	Limit orders as percentage of total limit orders	                1.92%
	Other orders as percentage of total other orders	                0.00%
	Page 8 of 8