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2026Q2 2026Q1

CRD #1020 Review Period: 2026Q2 Filing: Direct 606 filer

CANACCORD GENUITY LLC (CRD #1020) — Quarterly Rule 606 vs. Amended Rule 605 Competing Market Review

Name: CANACCORD GENUITY LLC (CRD #1020) 2026Q2 Execution Quality Benchmark
Creator: Execution Reports
License: https://executionreports.com/methodology

• 0 COMPETING-MARKET EXCEPTIONS DETECTED (>1.0 BPS THRESHOLD)

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Primary Routed Venues (606)

1. Morgan Stanley & Co., LLC(408.1%)

2. Goldman, Sachs & Co.(135.7%)

3. Casey Securities LLC(97.3%)

Top routed order shares

Disclosed PFOF / Rebates

$1,256.50

Avg 1.25 ¢

Competing-Market Exceptions

0 of 0

Scored cells with >1.0 bps shortfall

Data Coverage

0 mo • 0 builds

Amended 605 builds

Rule 5310.09 Exceptions Preview (0 Total)

All scored order size and routing buckets where venue net price improvement trailed mix-adjusted peers by > 1.0 bps.

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No statistically significant competing-market shortfalls exceeding 1.0 bps were detected in this quarter’s scored cells.

FINRA Rule 5310.09 Review Packet

CANACCORD GENUITY LLC

CRD Number: 1020 • Quarter: 2026Q2 • Generated: Wed, 14 Oct 2026 20:19:41 GMT

Methodology: exq-2

Status: CLOSED QUARTER

Resolved Rule 606 Source Filings

Author / Clearing Firm	CRD	Variant / Context	Version	SHA-256 Digest	Source Document
Cannacord Genuity Inc.	1020	ADAM	V1	3e94743ddc2b75e2a5dc772ce10b430041a359c9c796387b11668e568c296ec9	Download XML ↗

1. SEC Rule 606(a)(1) Order Routing

Quarterly non-directed customer order routing shares and net PFOF/rebates by section and venue.

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Month	Section	Execution Venue	605 Reporter	Route %	Market %	Mkt Limit %	Non-Mkt %	PFOF Mkt (¢/100)	PFOF Limit (¢/100)
202604	options	Matrix Executions, LLC / Simplex Trading, LLC	Unmapped	34.0%	31.8%	0.0%	30.0%	1.05 ¢	0.00 ¢
202604	options	Casey Securities LLC	Unmapped	34.0%	31.8%	50.0%	30.0%	-0.57 ¢	-0.57 ¢
202604	options	D & D Securities, Inc.	Unmapped	20.2%	18.2%	50.0%	40.0%	-0.10 ¢	-0.10 ¢
202604	options	Cheevers & Company Inc.	Unmapped	4.3%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202604	other_stocks	Morgan Stanley & Co., LLC	Unmapped	84.2%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202604	other_stocks	CITADEL SECURITIES LLC	CDRG	5.3%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202604	other_stocks	Clearpool Execution Services, LLC	Unmapped	5.3%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202604	other_stocks	Goldman, Sachs & Co.	Unmapped	5.3%	100.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202604	sp500	Morgan Stanley & Co., LLC	Unmapped	97.2%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202605	options	Casey Securities LLC	Unmapped	46.4%	40.0%	20.0%	66.0%	-1.11 ¢	-1.11 ¢
202605	options	D & D Securities, Inc.	Unmapped	32.1%	40.0%	60.0%	28.0%	2.44 ¢	2.44 ¢
202605	options	Matrix Executions, LLC / Simplex Trading, LLC	Unmapped	13.4%	20.0%	20.0%	6.0%	0.27 ¢	0.27 ¢
202605	other_stocks	Goldman, Sachs & Co.	Unmapped	61.5%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202605	other_stocks	Morgan Stanley & Co., LLC	Unmapped	34.6%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202605	sp500	Goldman, Sachs & Co.	Unmapped	57.1%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202605	sp500	Morgan Stanley & Co., LLC	Unmapped	42.9%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202606	options	Matrix Executions, LLC / Simplex Trading, LLC	Unmapped	39.6%	0.0%	50.0%	28.3%	0.00 ¢	-0.35 ¢
202606	options	D & D Securities, Inc.	Unmapped	20.8%	0.0%	7.1%	28.3%	0.00 ¢	5.92 ¢
202606	options	Casey Securities LLC	Unmapped	16.8%	100.0%	7.1%	32.6%	-2.01 ¢	-2.01 ¢
202606	options	SRT SECURITIES LLC.	Unmapped	16.8%	0.0%	35.7%	10.9%	0.00 ¢	-0.16 ¢
202606	other_stocks	Morgan Stanley & Co., LLC	Unmapped	78.6%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202606	other_stocks	RBC Capital Markets Corporation	Unmapped	14.3%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202606	other_stocks	CITADEL SECURITIES LLC	CDRG	7.1%	100.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202606	sp500	Morgan Stanley & Co., LLC	Unmapped	70.6%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202606	sp500	Goldman, Sachs & Co.	Unmapped	11.8%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202606	sp500	CITADEL SECURITIES LLC	CDRG	5.9%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202606	sp500	Clearpool Execution Services, LLC	Unmapped	5.9%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202606	sp500	RBC Capital Markets Corporation	Unmapped	5.9%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢

2. Venue Scorecards (Amended Rule 605)

Execution quality metrics for routed venues benchmarked against mix-adjusted competitors on identical symbols and size tiers.

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Month	Venue	Class	Notional × Lot	Fill Rate	PI Rate	NPI (bps)	Peer Bench (bps)	Coverage	Rank Pctl	Eff Spread	Speed <1s

3. Routing-Weighted Composite Quality

Implied execution quality achieved by the firm’s routing mix across the 24 amended size tiers, compared against the best and median competing venues.

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Month	Class	Notional × Lot	Metric	Firm Composite	Best Competing	Best Venue	Median Competing	Mapped Flow

4. Payment for Order Flow vs. Execution Quality

Addresses FINRA 5310.09 conflicts: comparing PFOF received (¢/100 sh) against net price improvement shortfall vs mix-adjusted peers.

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Month	Venue	Order Class	Route %	606 Net PFOF (¢/100)	NPI (bps)	Peer Bench (bps)	Delta (bps)	Ref Price	Delta (¢/100 sh)	Conflict Flag

Conflict Methodology Note: Quality delta (¢/100 sh) is estimated as Δ_bps × ref_price. A positive PFOF beside a negative delta indicates the firm received payment while the venue delivered less price improvement than competing market centers on identical symbols and size tiers.

5. Material Changes Since Prior Quarter

Changes in routing share (≥ 5 pp), newly added/dropped venues, and PFOF rate shifts since 2026Q1.

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Section	Venue	Type of Change	Order Class	Prior Value	Current Value	Net Shift
sp500	CITADEL SECURITIES LLC	route_share	—	11.11 ¢	1.96 ¢	-9.15 ¢
sp500	CITADEL SECURITIES LLC	pfof_rate	other	-3.56 ¢	-6.09 ¢	-2.53 ¢
sp500	Clearpool Execution Services, LLC	added	—	—	1.96 ¢	—
sp500	Goldman, Sachs & Co.	added	—	—	22.97 ¢	—
sp500	Morgan Stanley & Co., LLC	route_share	—	83.30 ¢	70.22 ¢	-13.08 ¢
sp500	Morgan Stanley & Co., LLC	pfof_rate	other	-0.68 ¢	-4.78 ¢	-4.09 ¢
sp500	RBC Capital Markets Corporation	added	—	—	1.96 ¢	—
sp500	The Nasdaq Stock Market	dropped	—	5.56 ¢	—	—
other_stocks	CITADEL SECURITIES LLC	route_share	—	17.63 ¢	4.13 ¢	-13.50 ¢
other_stocks	CITADEL SECURITIES LLC	pfof_rate	market	-2.23 ¢	0.00 ¢	2.23 ¢
other_stocks	CITADEL SECURITIES LLC	pfof_rate	marketable_limit	-3.42 ¢	0.00 ¢	3.42 ¢
other_stocks	CITADEL SECURITIES LLC	pfof_rate	other	-3.42 ¢	0.00 ¢	3.42 ¢
other_stocks	Clearpool Execution Services, LLC	route_share	—	7.21 ¢	1.75 ¢	-5.46 ¢
other_stocks	Clearpool Execution Services, LLC	pfof_rate	marketable_limit	-6.34 ¢	0.00 ¢	6.34 ¢
other_stocks	EANJ	dropped	—	4.17 ¢	—	—
other_stocks	Goldman, Sachs & Co.	route_share	—	3.33 ¢	22.27 ¢	18.93 ¢
other_stocks	Goldman, Sachs & Co.	pfof_rate	other	0.00 ¢	0.81 ¢	0.81 ¢
other_stocks	Morgan Stanley & Co., LLC	route_share	—	57.38 ¢	65.80 ¢	8.42 ¢
other_stocks	Morgan Stanley & Co., LLC	pfof_rate	other	-0.68 ¢	-4.78 ¢	-4.09 ¢
other_stocks	RBC Capital Markets Corporation	added	—	—	4.76 ¢	—
other_stocks	The Nasdaq Stock Market	dropped	—	7.01 ¢	—	—
options	Casey Securities LLC	route_share	—	19.54 ¢	32.43 ¢	12.89 ¢
options	Casey Securities LLC	pfof_rate	market	-0.63 ¢	-1.23 ¢	-0.60 ¢
options	Casey Securities LLC	pfof_rate	marketable_limit	-1.26 ¢	-1.23 ¢	0.03 ¢
options	Casey Securities LLC	pfof_rate	non_marketable_limit	-1.26 ¢	-1.23 ¢	0.03 ¢
options	Casey Securities LLC	pfof_rate	other	-0.63 ¢	-0.56 ¢	0.07 ¢
options	Cheevers & Company Inc.	added	—	—	1.42 ¢	—
options	D & D Securities, Inc.	route_share	—	16.11 ¢	24.38 ¢	8.27 ¢
options	D & D Securities, Inc.	pfof_rate	market	-0.91 ¢	0.78 ¢	1.69 ¢
options	D & D Securities, Inc.	pfof_rate	marketable_limit	-0.33 ¢	2.75 ¢	3.08 ¢
options	D & D Securities, Inc.	pfof_rate	non_marketable_limit	-0.91 ¢	2.75 ¢	3.66 ¢
options	D & D Securities, Inc.	pfof_rate	other	-0.30 ¢	2.79 ¢	3.09 ¢
options	Matrix Executions, LLC / Simplex Trading, LLC	route_share	—	51.92 ¢	29.01 ¢	-22.91 ¢
options	Matrix Executions, LLC / Simplex Trading, LLC	pfof_rate	market	-0.15 ¢	0.44 ¢	0.59 ¢
options	Matrix Executions, LLC / Simplex Trading, LLC	pfof_rate	marketable_limit	-0.24 ¢	-0.02 ¢	0.22 ¢
options	Matrix Executions, LLC / Simplex Trading, LLC	pfof_rate	non_marketable_limit	-0.24 ¢	0.33 ¢	0.57 ¢
options	Matrix Executions, LLC / Simplex Trading, LLC	pfof_rate	other	-0.15 ¢	0.33 ¢	0.48 ¢
options	SRT SECURITIES LLC.	pfof_rate	marketable_limit	0.00 ¢	-0.16 ¢	-0.16 ¢
options	SRT SECURITIES LLC.	pfof_rate	non_marketable_limit	0.00 ¢	-0.16 ¢	-0.16 ¢
options	SRT SECURITIES LLC.	pfof_rate	other	-0.19 ¢	-0.16 ¢	0.03 ¢
options	XFAS	dropped	—	3.20 ¢	—	—

6. Coverage, Exclusions & Standing Limitations

Mandatory regulatory disclosure of data availability, unmapped destinations, and methodological caveats.

Suppressed Cells

Cells with < 100 covered orders

Unmapped Venues

606 destinations without 605 match

Challenged / Missing 605

Venues missing monthly 605 report

Unmapped Routing Destinations:

Clearpool Execution Services, LLC (name:CLEARPOOL EXECUTION SERVICES), Goldman, Sachs & Co. (name:GOLDMAN SACHS), Morgan Stanley & Co., LLC (name:MORGAN STANLEY), RBC Capital Markets Corporation (name:RBC CAPITAL MARKETS)

Standing Review Limitations:

A venue's Rule 605 statistics describe all flow it handled, not this firm's orders.
606 route shares are per order, not per share, and list only the top 10 venues plus any venue with at least 5% of non-directed orders.
FINRA Rule 5310.09 also requires the firm's own order-level review of its executions.
This report is not legal or compliance advice.
Net price improvement is in basis points of executed notional (quote midpoint × shares). The PFOF comparison converts the difference to ¢/100 sh at the venue's average executed price; it is an estimate.