Since 1982, SEI Investments Distribution Co. has been offering brokerage services to banks, investment managers, endowments, foundations, insurance companies, and plan sponsors. SEI's unique blend of automated trade routing and institutional coverage has enabled SEI to become a major provider of soft dollars, commission recapture, and execution-only services in the brokerage industry. SEI is committed to offering superior trade executions by providing the following services:

- Act as a non-internalizing agent that provides the buy-side with truly un-biased execution services
- Provide total market access, ensuring firm quoted liquidity be available to our clients
- Rapidly and efficiently deliver orders to the market
- Use sophisticated technology to extract additional value from market centers
- Provide traders with innovative, tactical and strategic tools, providing automation and the ability to manage orders more effectively.

Systematic Process
SEI's auto-execution fabric connects mutiple liquidity sources, and sends trades along an optimal path so that investors can consistently expect quality executions. SEI believes anonymous orders receiving instantaneous executions minimize transaction costs. With an infrastructure connecting multiple ECNs, ATSs, and exchanges, our smart-routing algorithm allows orders to sweep multiple liquidity providers in a pipelined fashion, extracting hidden, reserve, and bait discretionary liquidity. With almost no delay to market, SEI's execution system has the ability to pick up fragments of liquidity at multiple locations. These orders go out to market in an anonymous fashion, minimizing information leakage and helping to minimize market impact costs.

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Trading and brokerage services are provided by SEI Investments Distribution Co. (SIDCO), a registered broker/dealer, member NASD/SIPC, and wholly owned subsidiary of SEI Investments Company. 1 Freedom Valley Drive, Oaks, PA 19456, 610-676-1000. SIDCO introduces some equity transactions to UNX, Inc., who in turn introduces accounts to Goldman Sachs, who carries and clears the accounts on a fully disclosed basis. Both UNX and Goldman Sachs are registered broker/dealers and not affiliated with SIDCO.