SEC Required Reporting for Routing of Client Orders ending June 2008

Sterne, Agee & Leach, Inc. has prepared reports 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 reports provide information on the routing of "non-directed orders" -- any order that the client has not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, Sterne Agee & Leach, Inc. has selected the execution venue on behalf of its clients. Each report identifies the venues most often selected by Sterne, Agee & Leach, Inc., sets forth the percentage of various types of orders routed to the venues, and discusses the material aspects of Sterne, Agee & Leach, Inc.'s relationship with the venues.

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Securities Listed on American Stock Exchange or Regional Stock Exchanges

Exchange-Listed Options