For Quarter Ending March 31, 2008

Disclosure of Order Execution and Routing Practices

For Quarter Ending March 31, 2008
Fortis Clearing Americas LLC has prepared this report pursuant to a U.S. Securities and Exchange Commission rule requiring all brokerage firms to make publicly available quarterly reports on their order routing practices. The report provides information on the routing of "non-directed orders." Directed orders are customer orders that the customer specifically instructed the broker or dealer to route to a particular venue for execution. A non-directed order means any customer order other than a directed order. For these non-directed orders, Fortis Clearing Americas LLC does not select the execution venue on behalf of its customers. For each section, this report identifies the venues most often used by customers and sets forth the percentage of various types of orders routed to the venues.

Order Policy Disclosure
FCA executes a portion of its stock activity utilizing various Electronic Communications Networks ("ECN") and is subject to each ECN's published broker-dealer pricing schedule. These schedules convey a credit to broker dealer customers for trades, which when entered, add liquidity to the ECN. The current credit amounts are listed below:

Electronic Communications Network	Credit (cents per share)
Archipelago	(0.002)
NASDAQ	(0.0024)

In addition, the Island ECN shares market data revenue with its customers at a rate determined by the volume of trades printed by the ECN and total market data revenue.

Summary Statistics:

Non-directed orders as percentage of total customer orders 100.00%

Market orders as percentage of total non-directed orders 4.31%

Limit orders as percentage of total non-directed orders 48.15%

Other orders as percentage of total non-directed orders 0.02%

Venues Receiving Significant Percentage of Total Non-Directed Orders:

1. NYSE Routes 65.88%

Market Types 17.70%

Limit Types 82.28%

Other Types 0.02%

2. OCO Routes 11.13%

Market Types 1.50%

Limit Types 98.50%

Other Types 0.00%

3. AMEX Routes 10.63%

Market Types 3.24%

Limit Types 96.76%

Other Types 0.00%

4. ISLD Routes 8.63%

Market Types 4.71%

Limit Types 95.29%

Other Types 0.00%

5. ARCA Routes 3.73%

Market Types 2.57%

Limit Types 97.43%

Other Types 0.00%