MAREX CAPITAL MARKETS INC. (CRD #161014) — SEC Rule 606 Order Routing & FINRA Rule 5310.09 Execution Quality Report
Executive Best Execution & Order Routing Analysis
MAREX CAPITAL MARKETS INC. (CRD #161014) files direct SEC Rule 606 quarterly order routing disclosures as an independent executing broker-dealer. In 2026Q1, the firm's non-directed customer order flow was routed across key market centers, led by NYSE ARCA OPTIONS (37.8%), CBOE GLOBAL MARKETS INC. (16.3%), MATRIX EXECUTIONS, LLC (11.5%). Under FINRA Rule 5310, the broker-dealer must evaluate whether routing choices maximize customer price improvement relative to non-routed market destinations.
During 2026Q1, the firm reported $-449,026.92 in total net payment for order flow (PFOF) and execution rebates received across its order routing arrangements. Disclosed net payment rates for marketable limit orders averaged -22.26 ¢. FINRA Rule 5310.09 requires rigorous surveillance of potential conflicts of interest when order routing decisions coincide with financial remuneration from execution venues.
Our mix-adjusted benchmark analysis flagged 0 material differences across the 144 Amended Rule 605 order size and security buckets where MAREX CAPITAL MARKETS INC.'s routed execution trailed competing peer benchmarks by more than 1.0 basis points. Under FINRA Rule 5310.09, broker-dealers must conduct regular and rigorous committee reviews comparing execution quality achieved against competing market centers they do not route to. Each flagged competing-market difference requires documented supervisory disposition and committee review in the firm's permanent compliance records.
SEC Rule 606 Order Routing Summary
Disclosed non-directed customer order routing shares, total PFOF remuneration, and net rates by execution venue.
| Execution Venue | Route % | Disclosed PFOF (USD) | Net Rate (¢/100 sh) |
|---|---|---|---|
| NYSE ARCA OPTIONS | 37.8% | $0.00 | — |
| CBOE GLOBAL MARKETS INC. | 16.3% | $0.00 | -25.48 ¢ |
| MATRIX EXECUTIONS, LLC | 11.5% | $0.00 | — |
| CBOE EDGX OPTIONS EXCHANGE (EDGK) | 8.7% | $1,310.83 | -10.95 ¢ |
| MIAMI INTERNATIONAL SECURITIES EXCHANGE | 7.3% | $0.00 | -18.69 ¢ |
| Goldman Sachs Execution & Clearing, L.P. | 6.5% | $0.00 | — |
| PTR Inc. | 6.4% | $0.00 | — |
| BOX OPTIONS EXCHANGE | 5.3% | $0.00 | -17.95 ¢ |
| PHILADELPHIA OPTIONS EXCHANGE | 5.1% | $0.00 | — |
| INTERNATIONAL SECURITIES EXCHANGE, LLC | 4.7% | $0.00 | -23.65 ¢ |
| CBOE BZX U.S. EQUITIES EXCHANGE (BATS) | 3.7% | $0.00 | — |
| CBOE EDGX U.S. EQUITIES EXCHANGE (EDGK) | 3.2% | $0.00 | -29.77 ¢ |
| CBOE BZX OPTIONS EXCHANGE (BATS) | 2.5% | $6,815.26 | — |
| MIAX SAPPHIRE, LLC | 2.3% | $12,564.06 | — |
| NASDAQ OPTIONS MARKET | 2.1% | $0.00 | — |
| X-Change Financial Access | 1.7% | $0.00 | — |
| ISE MERCURY, LLC | 1.6% | $0.00 | -26.45 ¢ |
| NYSE AMEX OPTIONS | 1.2% | $0.00 | — |
| KNIGHT LINK | 0.7% | $0.00 | — |
| CITADEL SECURITIES (CDED) | 0.7% | $0.00 | — |
| ISE GEMINI EXCHANGE | 0.5% | $0.00 | -36.46 ¢ |
| NASDAQ OMX BX OPTIONS | 0.3% | $0.00 | — |
| TOWER RESEARCH CAPITAL TRCX | 0.3% | $3.49 | — |
| MIAX PEARL EQUITIES | 0.3% | $0.00 | — |
| HUDSON RIVER TRADING (HRT) (HRTF) | 0.2% | $0.00 | — |
| CBOE C2 OPTIONS EXCHANGE | 0.2% | $0.00 | — |
| JUMP LIQUIDITY - US EQUITY PLATFORM (JLEQ) | 0.2% | $3.62 | — |
| MEMX LLC OPTIONS | 0.2% | $0.00 | — |
| SAGETRADER | 0.2% | $0.00 | — |
| MIAX PEARL, LLC | 0.2% | $0.00 | — |
| MIAX EMERALD, LLC | 0.2% | $0.00 | -3.83 ¢ |
| JANE STREET JX (JSJX) | 0.1% | $0.00 | — |
| NYSE ARCA (PARCAX) | 0.1% | $0.00 | — |
| NASDAQ - ALL MARKETS | 0.1% | $0.00 | — |
| LEVEL ATS | 0.1% | $4.26 | — |
| INVESTORS EXCHANGE (IEXG) | 0.1% | $0.00 | — |
| TJM Investments, LLC | 0.0% | $0.00 | — |
| TWO SIGMA SECURITIES, LLC (SOHO) | 0.0% | $0.00 | — |
| UBS ATS (UBSA) | 0.0% | $0.00 | — |
| MEMX LLC EQUITIES | 0.0% | $0.00 | — |
| NYSE CHICAGO, INC. (MXCHI) | 0.0% | $0.00 | — |
| XTX DIRECT | 0.0% | $0.00 | — |
| NASDAQ OMX BX | 0.0% | $0.00 | — |
| BNPP CORTEX ATS | 0.0% | $0.00 | — |
| CBOE BYX U.S. EQUITIES EXCHANGE (BYXX) | 0.0% | $0.00 | — |
| CBOE EDGA U.S. EQUITIES EXCHANGE (EDGJ) | 0.0% | $0.00 | — |
| GOLDMAN SACH MTF | 0.0% | $0.00 | — |
| INSTINET CBX (US) (ICBX) | 0.0% | $0.00 | — |
| INTELLIGENTCROSS | 0.0% | $0.00 | -0.15 ¢ |
| JPMX (JPMX) | 0.0% | $0.00 | — |
| LONG-TERM STOCK EXCHANGE, INC. | 0.0% | $0.00 | — |
| NEW YORK STOCK EXCHANGE, INC. (NXNYS) | 0.0% | $0.00 | — |
| POSIT | 0.0% | $0.00 | — |
| Bofa Securities, Inc. | 0.0% | $0.00 | — |
| PENSERRA SECURITIES, LLC | 0.0% | $0.00 | — |
Flagged Competing-Market Differences (0 Locked Buckets)
Scored execution buckets requiring committee evaluation and supervisory disposition under FINRA Rule 5310.09.
No locked exceptions detected in this review period.
Complete Your FINRA Rule 5310.09 Best Execution Review
Unlock all 144 order size and security tiers, reveal competing market center metrics, record supervisory dispositions, and export signed committee minutes.