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 September 30, 2010
	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	68.46%
	Limit orders as percentage of total non-directed orders	26.20%
	Other orders as percentage of total non-directed orders	5.34%
	Venues Receiving Significant Percentage of Total Non-Directed Orders :
	1.	National Financial Services, L.L.C.	              38.89%
	2.	Knight Capital Markets, L.L.C.	              29.46%
	3.	UBS Securities, L.L.C.	              12.94%
	4.	Citadel Derivatives Group LLC	                7.99%
	5.	Citigroup Global Markets, Inc.	                3.58%
	6.	Direct Edge Exchange	                2.90%
	7.	NYSE Arca	                1.18%
	8.	BATS Exchange, Inc.	                1.11%
	9.	Goldman, Sachs & Co.	                0.90%
	10.	Nasdaq Execution Services, L.L.C.	                0.61%
	Information Concerning Significant Venues :
	1.	National Financial Services, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              39.79%
	Limit orders as percentage of total limit orders	              44.46%
	Other orders as percentage of total other orders	                0.00%
	2.	Knight Capital Markets, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              31.47%
	Limit orders as percentage of total limit orders	              17.24%
	Other orders as percentage of total other orders	              63.76%
	Page 1 of 8

	3.	UBS Securities, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              14.24%
	Limit orders as percentage of total limit orders	                8.07%
	Other orders as percentage of total other orders	              20.13%
	4.	Citadel Derivatives Group LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                9.06%
	Limit orders as percentage of total limit orders	                6.84%
	Other orders as percentage of total other orders	                0.00%
	5.	Citigroup Global Markets, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                3.56%
	Limit orders as percentage of total limit orders	                1.09%
	Other orders as percentage of total other orders	              16.11%
	6.	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	              11.08%
	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	                4.51%
	Other orders as percentage of total other orders	                0.00%
	8.	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	                4.24%
	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	                1.20%
	Limit orders as percentage of total limit orders	                0.27%
	Other orders as percentage of total other orders	                0.00%
	10.	Nasdaq Execution Services, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.05%
	Limit orders as percentage of total limit orders	                2.19%
	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	40.96%
	Limit orders as percentage of total non-directed orders	58.01%
	Other orders as percentage of total non-directed orders	1.03%
	Venues Receiving Significant Percentage of Total Non-Directed Orders :
	1.	National Financial Services, L.L.C.	              29.34%
	2.	Knight Equity Markets, L.P.	              25.00%
	3.	UBS Securities, L.L.C.	              18.33%
	4.	Citadel Derivatives Group LLC	              12.83%
	5.	Direct Edge Exchange	               4.00%
	6.	BATS Exchange, Inc.	                2.88%
	7.	Citigroup Global Markets, Inc.	                2.61%
	8.	NYSE Arca	                2.55%
	9.	Nasdaq Execution Services, L.L.C.	                1.24%
	10.	Surge Trading, Inc.	                0.46%
	Information Concerning Significant Venues :
	1.	National Financial Services, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              23.33%
	Limit orders as percentage of total limit orders	              34.10%
	Other orders as percentage of total other orders	                0.00%
	2.	Knight Equity Markets, L.P.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              15.70%
	Limit orders as percentage of total limit orders	              31.22%
	Other orders as percentage of total other orders	              44.12%
	3.	UBS Securities, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              37.11%
	Limit orders as percentage of total limit orders	                4.60%
	Other orders as percentage of total other orders	              44.12%
	4.	Citadel Derivatives Group LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              16.96%
	Limit orders as percentage of total limit orders	              10.15%
	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	                0.30%
	Limit orders as percentage of total limit orders	                6.69%
	Other orders as percentage of total other orders	                0.00%
	Page 3 of 8

	6.	BATS Exchange, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.07%
	Limit orders as percentage of total limit orders	                4.92%
	Other orders as percentage of total other orders	                0.00%
	7.	Citigroup Global Markets, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                4.52%
	Limit orders as percentage of total limit orders	                1.10%
	Other orders as percentage of total other orders	              11.76%
	8.	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	                4.39%
	Other orders as percentage of total other orders	                0.00%
	9.	Nasdaq Execution Services, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.00%
	Limit orders as percentage of total limit orders	                2.14%
	Other orders as percentage of total other orders	                0.00%
	10.	Surge Trading, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                1.11%
	Limit orders as percentage of total limit orders	                0.00%
	Other orders as percentage of total other orders	                0.00%
	Page 4 of 8

	Securities Listed on NYSE Amex 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	69.87%
	Limit orders as percentage of total non-directed orders	20.90%
	Other orders as percentage of total non-directed orders	9.23%
	Venues Receiving Significant Percentage of Total Non-Directed Orders :
	1.	National Financial Services, L.L.C.	              36.09%
	2.	Knight Capital Markets, L.L.C.	              32.44%
	3.	Citadel Derivatives Group LLC	              12.52%
	4.	UBS Securities, L.L.C.	              11.79%
	5.	Citigroup Global Markets, Inc.	                2.19%
	6.	NYSE Arca	                1.34%
	7.	Direct Edge Exchange	                1.34%
	8.	BATS Exchange, Inc.	                1.22%
	9.	Instinet L.L.C.	                0.49%
	10.	AlterNet Securities Inc.	                0.36%
	Information Concerning Significant Venues :
	1.	National Financial Services, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              43.48%
	Limit orders as percentage of total limit orders	              27.33%
	Other orders as percentage of total other orders	                0.00%
	2.	Knight Capital Markets, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              25.74%
	Limit orders as percentage of total limit orders	              38.37%
	Other orders as percentage of total other orders	              69.74%
	3.	Citadel Derivatives Group LLC
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              15.83%
	Limit orders as percentage of total limit orders	                6.98%
	Other orders as percentage of total other orders	                0.00%
	4.	UBS Securities, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              11.65%
	Limit orders as percentage of total limit orders	                4.65%
	Other orders as percentage of total other orders	              28.95%
	5.	Citigroup Global Markets, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                2.43%
	Limit orders as percentage of total limit orders	                1.74%
	Other orders as percentage of total other orders	                1.32%
	Page 5 of 8

	6.	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	                6.40%
	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	                6.40%
	Other orders as percentage of total other orders	                0.00%
	8.	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	                5.81%
	Other orders as percentage of total other orders	                0.00%
	9.	Instinet L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.52%
	Limit orders as percentage of total limit orders	                0.58%
	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	                0.17%
	Limit orders as percentage of total limit orders	                1.16%
	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	22.14%
	Limit orders as percentage of total non-directed orders	77.86%
	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	              39.32%
	2.	NYSE Amex Options	              15.63%
	3.	NYSE Arca Options	              13.31%
	4.	NASDAQ OMX PHLX	              11.61%
	5.	The Boston Option Exchange	                8.98%
	6.	The International Securities Exchange	                7.12%
	7.	Other	                2.48%
	8.	BATS Options Exchange, Inc.	                0.93%
	9.	Nasdaq Execution Services, L.L.C.	                0.62%
	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	              23.08%
	Limit orders as percentage of total limit orders	              43.94%
	Other orders as percentage of total other orders	                0.00%
	2.	NYSE Amex Options
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              23.08%
	Limit orders as percentage of total limit orders	              13.52%
	Other orders as percentage of total other orders	                0.00%
	3.	NYSE Arca Options
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                7.69%
	Limit orders as percentage of total limit orders	              14.91%
	Other orders as percentage of total other orders	                0.00%
	4.	NASDAQ OMX PHLX
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	              12.59%
	Limit orders as percentage of total limit orders	              11.33%
	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	              22.38%
	Limit orders as percentage of total limit orders	                5.17%
	Other orders as percentage of total other orders	                0.00%
	Page 7 of 8

	6.	The International Securities Exchange
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                6.99%
	Limit orders as percentage of total limit orders	                7.16%
	Other orders as percentage of total other orders	                0.00%
	7.	Other
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                1.40%
	Limit orders as percentage of total limit orders	                2.78%
	Other orders as percentage of total other orders	                0.00%
	8.	BATS Options Exchange, Inc.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                0.70%
	Limit orders as percentage of total limit orders	                0.99%
	Other orders as percentage of total other orders	                0.00%
	9.	Nasdaq Execution Services, L.L.C.
	Types of Orders Routed to Venue :
	Market orders as percentage of total market orders	                2.10%
	Limit orders as percentage of total limit orders	                0.20%
	Other orders as percentage of total other orders	                0.00%
	Page 8 of 8