EXECUTIONREPORTS.COM AMENDED SEC RULE 605 / FINRA 5310.09 ENGINE
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2026Q22026Q1
Preview Report: 2026Q2 Routing × 2026Q3 Benchmarks

Preview, not a Rule 5310 review quarter. Routing and PFOF come from 2026Q2 (606, latest month in that quarter); execution quality comes from 2026Q3 amended 605 benchmarks. Route shares from one period are applied to benchmarks from another.

Adopted Clearing Firm Rule 606 Reports

Under FINRA Rule 6151, this broker-dealer adopts by reference the 606 routing reports of its clearing firm(s): VELOX CLEARING LLC. Every underlying execution venue and clearing context is evaluated below.

CRD #21821 Review Period: 2026Q2 Filing: Adopts clearing firm report

CATHAY SECURITIES, INC. (CRD #21821) — Quarterly Rule 606 vs. Amended Rule 605 Competing Market Review

• 61 COMPETING-MARKET EXCEPTIONS REQUIRING RULE 5310.09 COMMITTEE DISPOSITION
Open Review Workspace → Request committee preview
Primary Routed Venues (606)
1. Dash/IMC Financial Markets(299.6%)
2. Cboe BYX Exchange, Inc.(299.2%)
3. Intelligentcross(149.7%)
Top routed order shares
Disclosed PFOF / Rebates
Clears via VELOX CLEARING LLC • Subject to 5310.09(c) supervision
Clearing firm adoption
Competing-Market Exceptions
61 of 173
Scored cells with >1.0 bps shortfall
Data Coverage
1 mo • 1 build
Months: 202608
Sample Benchmark Proof

Worst Disparity Cell: other • nonmarketable_limit • $250–$999 (ROUND)

Hudson River Trading (HRT)'s reported 605 statistics in the $250–$999 other nonmarketable_limit tier (ROUND) trailed the mix-adjusted peer benchmark by 106.08 bps.

Review in Workspace →
RoleMarket CenterRouting Share (606)PFOF Rate (¢/100)NPI (bps)Peer Bench (bps)Fill Rate5310.09 Status
Routed VenueHudson River Trading (HRT) (HRTF)4.1%—54.6 bps160.7 bps19.9%-106.1 bps Shortfall
BenchmarkMix-Adjusted Peer Average——160.7 bps160.7 bps—Market Average
Best CompetingFORS0.0%N/A281.5 bps160.7 bps— Competing Benchmark

Rule 5310.09 Exceptions Preview (Showing 25 of 61)

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

Open in Workspace to Dispose →
MonthRouted VenueClass & TierRoute %PFOF (¢/100)NPI (bps)Peer Bench (bps)ShortfallAction
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$250–$999 • other (ROUND)
4.1%—54.6 bps160.7 bps-106.1 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$1k–$5k • other (ROUND)
4.1%—28.9 bps99.0 bps-70.1 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
$250–$999 • other (ROUND)
3.6%—55.4 bps124.9 bps-69.4 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
$1k–$5k • other (ROUND)
3.6%—28.4 bps78.8 bps-50.5 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$5k–$10k • other (ODD)
4.1%—25.2 bps68.7 bps-43.5 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$5k–$10k • other (ROUND)
4.1%—19.4 bps60.9 bps-41.5 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
<$250 • other (ODD)
3.6%—34.2 bps74.4 bps-40.2 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
<$250 • other (ODD)
4.1%—30.9 bps70.1 bps-39.2 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$250–$999 • other (ODD)
4.1%—20.5 bps59.6 bps-39.0 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$1k–$5k • other (ODD)
4.1%—22.1 bps60.2 bps-38.1 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
$5k–$10k • other (ODD)
3.6%—17.3 bps52.0 bps-34.6 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
$250–$999 • other (ODD)
3.6%—18.3 bps52.9 bps-34.6 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$20k–$50k • other (ROUND)
4.1%—13.0 bps47.2 bps-34.2 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$10k–$20k • other (ODD)
4.1%—24.7 bps58.1 bps-33.4 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$20k–$50k • sp500_proxy (ROUND)
4.1%—3.2 bps34.7 bps-31.5 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$10k–$20k • other (ROUND)
4.1%—13.9 bps44.5 bps-30.6 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
<$250 • other (ROUND)
4.1%—72.7 bps102.7 bps-30.0 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
$1k–$5k • other (ODD)
3.6%—15.3 bps44.8 bps-29.5 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
$10k–$20k • sp500_proxy (ROUND)
3.6%—3.1 bps30.8 bps-27.7 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
$20k–$50k • sp500_proxy (ROUND)
3.6%—3.0 bps30.7 bps-27.7 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$10k–$20k • sp500_proxy (ROUND)
4.1%—3.6 bps30.5 bps-26.9 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
$50k–$200k • sp500_proxy (ROUND)
3.6%—3.0 bps29.7 bps-26.7 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
$10k–$20k • other (ODD)
3.6%—19.0 bps45.3 bps-26.3 bps Dispose →
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit
$50k–$200k • sp500_proxy (ROUND)
4.1%—3.1 bps28.3 bps-25.2 bps Dispose →
202608Jane Street Capital (JNST)nonmarketable_limit
$5k–$10k • sp500_proxy (ODD)
3.6%—3.7 bps28.9 bps-25.2 bps Dispose →
FINRA Rule 5310.09 Review Packet

CATHAY SECURITIES, INC.

CRD Number: 21821 • Quarter: 2026Q2 • Generated: Wed, 14 Oct 2026 19:29:50 GMT
Methodology: exq-2
Status: IN-PROGRESS / PREVIEW

Resolved Rule 606 Source Filings

Author / Clearing FirmCRDVariant / ContextVersionSHA-256 DigestSource Document
Velox Clearing, LLC(Clearing: VELOX CLEARING LLC)290215VLOXV17bf4395a6af32e9d0cd9dd55909bca562db81074aa10f369eed3ec8494c9810a Download XML ↗

Benchmark Builds Applied

• Month 202608: build 202608-20261001T134852Z (exq-2) • S&P constituent source: public_constituent_list (2026Q3) • NPI row exclusions: 224

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

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

Download CSV ↓
MonthSectionExecution Venue605 ReporterRoute %Market %Mkt Limit %Non-Mkt %PFOF Mkt (¢/100)PFOF Limit (¢/100)
202604optionsDash/IMC Financial MarketsUnmapped99.9%100.0%99.8%100.0%37.17 ¢39.23 ¢
202604other_stocksCboe BYX Exchange, Inc.Unmapped36.2%0.0%0.0%0.0%0.00 ¢0.00 ¢
202604other_stocksIntelligentcrossUnmapped15.7%0.0%71.5%0.0%0.00 ¢3.71 ¢
202604other_stocksCitadel SecuritiesCDRG6.7%0.0%0.0%0.0%0.00 ¢0.00 ¢
202604other_stocksVirtu VEQUnmapped6.4%0.0%0.0%0.0%0.00 ¢0.00 ¢
202604other_stocksJump TradingUnmapped5.0%0.0%0.0%0.0%0.00 ¢0.00 ¢
202604other_stocksLevel ATSUnmapped4.2%0.0%0.0%0.0%0.00 ¢0.00 ¢
202604other_stocksNYSE Arca, Inc.Unmapped4.1%0.0%17.4%37.2%0.00 ¢-33.84 ¢
202604other_stocksHudson River Trading (HRT)HRTF4.1%0.0%0.0%0.0%0.00 ¢0.00 ¢
202604other_stocksJane Street CapitalJNST3.6%0.0%0.0%0.0%0.00 ¢0.00 ¢
202604other_stocksSageTrader, LLCUnmapped2.9%0.0%0.0%0.0%0.00 ¢0.00 ¢
202604other_stocksComhar Capital Markets, LLC - Us EquitiesUnmapped2.8%0.0%0.0%0.0%0.00 ¢0.00 ¢
202604sp500Cboe BYX Exchange, Inc.Unmapped63.0%0.0%0.0%0.0%0.00 ¢0.00 ¢
202604sp500IntelligentcrossUnmapped24.1%0.0%93.6%0.0%0.00 ¢-9.38 ¢
202604sp500Jump TradingUnmapped3.2%0.0%0.0%0.0%0.00 ¢0.00 ¢
202605optionsDash/IMC Financial MarketsUnmapped99.8%100.0%99.5%99.9%38.92 ¢40.47 ¢
202605other_stocksCboe BYX Exchange, Inc.Unmapped40.6%0.0%0.0%0.0%0.00 ¢0.00 ¢
202605other_stocksIntelligentcrossUnmapped22.0%0.0%71.0%0.0%0.00 ¢3.45 ¢
202605other_stocksCitadel SecuritiesCDRG5.0%0.0%0.0%0.0%0.00 ¢0.00 ¢
202605other_stocksVirtu VEQUnmapped4.8%0.0%0.0%0.0%0.00 ¢0.00 ¢
202605other_stocksNYSE Arca, Inc.Unmapped4.1%0.0%19.0%63.5%0.00 ¢-32.67 ¢
202605other_stocksJump TradingUnmapped3.9%0.0%0.0%0.0%0.00 ¢0.00 ¢
202605other_stocksHudson River Trading (HRT)HRTF3.1%0.0%0.0%0.0%0.00 ¢0.00 ¢
202605other_stocksLevel ATSUnmapped2.9%0.0%0.0%0.0%0.00 ¢0.00 ¢
202605other_stocksJane Street CapitalJNST2.8%0.0%0.0%0.0%0.00 ¢0.00 ¢
202605other_stocksSageTrader, LLCUnmapped2.2%0.0%0.0%0.0%0.00 ¢0.00 ¢
202605sp500Cboe BYX Exchange, Inc.Unmapped56.6%0.0%0.0%0.0%0.00 ¢0.00 ¢
202605sp500IntelligentcrossUnmapped31.6%0.0%92.6%0.0%0.00 ¢-12.04 ¢
202605sp500Jump TradingUnmapped3.0%0.0%0.0%0.0%0.00 ¢0.00 ¢
202606optionsDash/IMC Financial MarketsUnmapped99.9%100.0%99.8%100.0%38.60 ¢39.82 ¢
202606other_stocksCboe BYX Exchange, Inc.Unmapped44.0%0.0%0.0%0.0%0.00 ¢0.00 ¢
202606other_stocksIntelligentcrossUnmapped24.1%0.0%76.4%0.0%0.00 ¢3.50 ¢
202606other_stocksNYSE Arca, Inc.Unmapped4.3%0.0%18.7%58.8%0.00 ¢-35.90 ¢
202606other_stocksVirtu VEQUnmapped3.8%0.0%0.0%0.0%0.00 ¢0.00 ¢
202606other_stocksCitadel SecuritiesCDRG3.6%0.0%0.0%0.0%0.00 ¢0.00 ¢
202606other_stocksHudson River Trading (HRT)HRTF2.7%0.0%0.0%0.0%0.00 ¢0.00 ¢
202606other_stocksJump TradingUnmapped2.7%0.0%0.0%0.0%0.00 ¢0.00 ¢
202606other_stocksJane Street CapitalJNST2.2%0.0%0.0%0.0%0.00 ¢0.00 ¢
202606other_stocksLevel ATSUnmapped2.2%0.0%0.0%0.0%0.00 ¢0.00 ¢
202606other_stocksComhar Capital Markets, LLC - Us EquitiesUnmapped2.0%0.0%0.0%0.0%0.00 ¢0.00 ¢
202606sp500Cboe BYX Exchange, Inc.Unmapped58.8%0.0%0.0%0.0%0.00 ¢0.00 ¢
202606sp500IntelligentcrossUnmapped32.2%0.0%89.2%0.0%0.00 ¢-19.47 ¢

2. Venue Scorecards (Amended Rule 605)

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

Download CSV ↓
MonthVenueClassNotional × LotFill RatePI RateNPI (bps)Peer Bench (bps)CoverageRank PctlEff SpreadSpeed <1s
202608HRTFmarket<$250 • FRACT72.6%20.0%1.1 bps5.1 bps65%16th$0.1346100.0%
202608HRTFmarket<$250 • ODD97.0%84.9%11.7 bps9.8 bps98%80th$0.004899.9%
202608HRTFmarket<$250 • ROUND98.0%73.4%30.1 bps23.5 bps95%65th$0.0010100.0%
202608HRTFmarket$250–$999 • FRACT55.7%21.5%0.5 bps1.5 bps83%17th$0.4385100.0%
202608HRTFmarket$250–$999 • ODD97.1%89.5%7.4 bps6.1 bps91%81st$0.0075100.0%
202608HRTFmarket$250–$999 • ROUND98.1%76.7%21.2 bps18.0 bps95%77th$0.0024100.0%
202608HRTFmarket$1k–$5k • FRACT65.7%27.9%0.8 bps3.8 bps97%0th$1.3385100.0%
202608HRTFmarket$1k–$5k • ODD97.3%92.9%5.3 bps4.7 bps91%80th$0.0086100.0%
202608HRTFmarket$1k–$5k • ROUND95.2%71.6%11.0 bps9.6 bps95%80th$0.0034100.0%
202608HRTFmarket$5k–$10k • ODD97.1%95.5%4.7 bps3.9 bps88%80th$0.0161100.0%
202608HRTFmarket$5k–$10k • ROUND94.7%74.6%7.0 bps5.5 bps85%80th$0.0046100.0%
202608HRTFmarket$10k–$20k • ODD96.6%96.8%5.5 bps5.2 bps89%84th$0.0406100.0%
202608HRTFmarket$10k–$20k • ROUND94.0%77.0%5.2 bps4.0 bps71%82nd$0.0075100.0%
202608HRTFmarket$20k–$50k • ODD96.8%96.0%4.7 bps3.8 bps84%81st$0.0876100.0%
202608HRTFmarket$20k–$50k • ROUND95.4%82.7%4.2 bps3.5 bps77%81st$0.0089100.0%
202608HRTFmarket$50k–$200k • ROUND95.6%87.6%3.1 bps2.8 bps82%81st$0.009399.9%
202608HRTFmarket≥$200k • ROUND77.5%54.2%-0.4 bps-0.3 bps43%52nd$0.043699.6%
202608HRTFmarketable_limit<$250 • FRACT100.0%0.1%0.0 bps1.9 bps68%13th$0.0745100.0%
202608HRTFmarketable_limit<$250 • ODD96.9%80.5%11.2 bps-24.0 bps90%89th$0.005799.9%
202608HRTFmarketable_limit<$250 • ROUND96.6%67.4%24.6 bps-70.1 bps89%84th$0.001399.5%
202608HRTFmarketable_limit$250–$999 • FRACT100.0%0.0%-0.0 bps0.4 bps56%22nd$0.3260100.0%
202608HRTFmarketable_limit$250–$999 • ODD97.1%85.8%6.7 bps-11.1 bps75%82nd$0.0108100.0%
202608HRTFmarketable_limit$250–$999 • ROUND96.5%70.4%17.7 bps-52.9 bps87%86th$0.003099.8%
202608HRTFmarketable_limit$1k–$5k • FRACT————————
202608HRTFmarketable_limit$1k–$5k • ODD97.9%84.9%5.5 bps-3.9 bps74%93rd$0.0238100.0%
202608HRTFmarketable_limit$1k–$5k • ROUND93.8%65.1%11.8 bps-20.1 bps84%90th$0.004399.7%
202608HRTFmarketable_limit$5k–$10k • ODD97.6%88.6%4.3 bps-5.8 bps72%89th$0.0315100.0%
202608HRTFmarketable_limit$5k–$10k • ROUND91.9%62.8%7.7 bps-7.4 bps60%88th$0.005799.5%
202608HRTFmarketable_limit$10k–$20k • ODD97.3%92.9%4.6 bps-3.3 bps66%86th$0.0488100.0%
202608HRTFmarketable_limit$10k–$20k • ROUND92.5%64.7%5.5 bps-4.5 bps60%84th$0.007299.5%
202608HRTFmarketable_limit$20k–$50k • ODD98.0%92.8%4.1 bps-0.2 bps15%89th$0.1027100.0%
202608HRTFmarketable_limit$20k–$50k • ROUND93.5%62.4%3.2 bps-2.7 bps71%76th$0.008499.5%
202608HRTFmarketable_limit$50k–$200k • ODD————————
202608HRTFmarketable_limit$50k–$200k • ROUND91.8%54.6%1.9 bps-2.0 bps70%83rd$0.010098.9%
202608HRTFmarketable_limit≥$200k • ROUND77.4%47.8%-0.2 bps-3.1 bps35%50th$0.024293.0%
202608HRTFnonmarketable_limit<$250 • FRACT80.3%100.0%22.8 bps—0%85th$-0.065878.8%
202608HRTFnonmarketable_limit<$250 • ODD8.2%100.0%30.9 bps70.1 bps99%67th$0.024834.8%
202608HRTFnonmarketable_limit<$250 • ROUND36.2%100.0%72.7 bps102.7 bps98%68th$0.001378.8%
202608HRTFnonmarketable_limit$250–$999 • FRACT————————
202608HRTFnonmarketable_limit$250–$999 • ODD11.1%100.0%20.5 bps59.6 bps91%73rd$0.061542.8%
202608HRTFnonmarketable_limit$250–$999 • ROUND19.9%100.0%54.6 bps160.7 bps97%60th$0.003861.1%
202608HRTFnonmarketable_limit$1k–$5k • ODD9.0%100.0%22.1 bps60.2 bps86%86th$0.161654.1%
202608HRTFnonmarketable_limit$1k–$5k • ROUND11.7%100.0%28.9 bps99.0 bps88%63rd$0.011245.2%
202608HRTFnonmarketable_limit$5k–$10k • ODD10.4%100.0%25.2 bps68.7 bps87%89th$0.350569.2%
202608HRTFnonmarketable_limit$5k–$10k • ROUND9.4%100.0%19.4 bps60.9 bps74%66th$0.018343.5%
202608HRTFnonmarketable_limit$10k–$20k • ODD8.8%100.0%24.7 bps58.1 bps91%88th$0.633578.7%
202608HRTFnonmarketable_limit$10k–$20k • ROUND13.3%100.0%13.9 bps44.5 bps71%55th$0.028940.2%
202608HRTFnonmarketable_limit$20k–$50k • ODD8.1%100.0%22.7 bps33.7 bps91%78th$0.898285.5%
202608HRTFnonmarketable_limit$20k–$50k • ROUND12.0%100.0%13.0 bps47.2 bps63%69th$0.044532.4%
202608HRTFnonmarketable_limit$50k–$200k • ROUND14.8%100.0%10.2 bps32.6 bps55%66th$0.044726.4%
202608HRTFnonmarketable_limit≥$200k • ROUND23.7%100.0%5.9 bps28.0 bps49%42nd$0.048215.1%
202608HRTFmarket<$250 • FRACT68.7%20.6%0.5 bps3.0 bps96%7th$0.1701100.0%
202608HRTFmarket<$250 • ODD95.2%96.9%3.3 bps2.9 bps100%73rd$0.0016100.0%
202608HRTFmarket$250–$999 • FRACT62.8%20.6%0.5 bps3.3 bps90%11th$0.4843100.0%
202608HRTFmarket$250–$999 • ODD96.3%97.7%3.3 bps2.9 bps100%77th$0.0025100.0%
202608HRTFmarket$250–$999 • ROUND99.6%87.4%5.5 bps5.2 bps100%100th$0.0013100.0%
202608HRTFmarket$1k–$5k • FRACT71.2%21.6%0.9 bps4.6 bps83%14th$1.5070100.0%
202608HRTFmarket$1k–$5k • ODD96.9%98.3%3.4 bps3.1 bps100%79th$0.0032100.0%
202608HRTFmarket$1k–$5k • ROUND98.8%93.7%2.1 bps2.0 bps99%76th$0.0011100.0%
202608HRTFmarket$5k–$10k • FRACT————————
202608HRTFmarket$5k–$10k • ODD96.8%98.8%3.2 bps3.0 bps99%77th$0.0065100.0%
202608HRTFmarket$5k–$10k • ROUND98.5%96.1%1.9 bps1.8 bps99%79th$0.0022100.0%
202608HRTFmarket$10k–$20k • ODD96.7%98.8%3.1 bps3.0 bps97%75th$0.0149100.0%
202608HRTFmarket$10k–$20k • ROUND98.4%98.2%2.5 bps2.5 bps98%72nd$0.0074100.0%
202608HRTFmarket$20k–$50k • ODD96.9%99.2%3.7 bps3.7 bps97%80th$0.0582100.0%
202608HRTFmarket$20k–$50k • ROUND98.6%98.5%2.2 bps2.5 bps98%59th$0.0157100.0%
202608HRTFmarket$50k–$200k • ODD96.8%99.5%3.8 bps4.0 bps96%74th$0.2141100.0%
202608HRTFmarket$50k–$200k • ROUND98.6%97.7%2.6 bps3.1 bps96%67th$0.0292100.0%
202608HRTFmarket≥$200k • ROUND85.1%72.8%0.7 bps0.5 bps80%51st$0.098999.9%
202608HRTFmarketable_limit<$250 • FRACT100.0%0.0%0.0 bps3.6 bps96%14th$0.1854100.0%
202608HRTFmarketable_limit<$250 • ODD89.7%90.6%2.6 bps-2.7 bps99%89th$0.0047100.0%
202608HRTFmarketable_limit<$250 • ROUND————————
202608HRTFmarketable_limit$250–$999 • FRACT100.0%0.0%-0.0 bps3.1 bps30%18th$0.7498100.0%
202608HRTFmarketable_limit$250–$999 • ODD94.7%89.9%2.5 bps-2.7 bps99%84th$0.0048100.0%
202608HRTFmarketable_limit$250–$999 • ROUND————————
202608HRTFmarketable_limit$1k–$5k • FRACT100.0%0.0%0.0 bps—0%0th$2.3256100.0%
202608HRTFmarketable_limit$1k–$5k • ODD96.1%91.7%2.6 bps-4.2 bps97%83rd$0.0060100.0%
202608HRTFmarketable_limit$1k–$5k • ROUND97.3%94.6%2.0 bps-5.6 bps95%89th$0.0011100.0%
202608HRTFmarketable_limit$5k–$10k • ODD96.1%94.0%2.6 bps-5.2 bps86%84th$0.0102100.0%
202608HRTFmarketable_limit$5k–$10k • ROUND96.3%94.1%1.7 bps-5.4 bps87%83rd$0.0024100.0%
202608HRTFmarketable_limit$10k–$20k • ODD96.1%94.8%2.6 bps-3.7 bps87%86th$0.0192100.0%
202608HRTFmarketable_limit$10k–$20k • ROUND96.9%95.5%2.3 bps-4.6 bps86%83rd$0.0081100.0%
202608HRTFmarketable_limit$20k–$50k • ODD96.3%96.3%3.1 bps-0.4 bps90%87th$0.0673100.0%
202608HRTFmarketable_limit$20k–$50k • ROUND97.1%94.2%1.7 bps-4.4 bps86%71st$0.0146100.0%
202608HRTFmarketable_limit$50k–$200k • ODD95.5%98.2%3.4 bps1.2 bps98%83rd$0.296599.9%
202608HRTFmarketable_limit$50k–$200k • ROUND97.3%94.0%1.6 bps-3.0 bps84%68th$0.0236100.0%
202608HRTFmarketable_limit≥$200k • ROUND76.8%60.0%0.3 bps-3.8 bps62%68th$0.076891.7%
202608HRTFnonmarketable_limit<$250 • FRACT63.2%100.0%14.8 bps—0%88th$-0.059775.6%
202608HRTFnonmarketable_limit<$250 • ODD16.9%100.0%4.6 bps20.7 bps98%52nd$0.016837.0%
202608HRTFnonmarketable_limit$250–$999 • FRACT————————
202608HRTFnonmarketable_limit$250–$999 • ODD12.8%100.0%4.3 bps23.2 bps98%62nd$0.032339.7%
202608HRTFnonmarketable_limit$250–$999 • ROUND15.0%100.0%22.6 bps—0%76th$0.010031.2%
202608HRTFnonmarketable_limit$1k–$5k • FRACT————————
202608HRTFnonmarketable_limit$1k–$5k • ODD10.9%100.0%4.2 bps26.3 bps96%53rd$0.044053.2%
202608HRTFnonmarketable_limit$1k–$5k • ROUND18.0%100.0%4.1 bps12.4 bps98%64th$0.002645.8%
202608HRTFnonmarketable_limit$5k–$10k • ODD12.4%100.0%4.4 bps28.0 bps89%57th$0.065958.2%
202608HRTFnonmarketable_limit$5k–$10k • ROUND11.7%100.0%3.2 bps22.1 bps88%62nd$0.007440.0%
202608HRTFnonmarketable_limit$10k–$20k • ODD10.4%100.0%5.0 bps23.6 bps90%70th$0.116863.9%
202608HRTFnonmarketable_limit$10k–$20k • ROUND13.8%100.0%3.6 bps30.5 bps86%56th$0.024645.1%
202608HRTFnonmarketable_limit$20k–$50k • ODD10.4%100.0%5.0 bps11.6 bps93%71st$0.221265.8%
202608HRTFnonmarketable_limit$20k–$50k • ROUND11.5%100.0%3.2 bps34.7 bps87%40th$0.035050.8%
202608HRTFnonmarketable_limit$50k–$200k • ODD12.6%100.0%12.4 bps16.3 bps96%88th$2.738269.3%
202608HRTFnonmarketable_limit$50k–$200k • ROUND13.7%100.0%3.1 bps28.3 bps82%46th$0.048148.4%
202608HRTFnonmarketable_limit≥$200k • ROUND37.1%100.0%2.4 bps24.8 bps76%26th$0.087132.2%
202608JNSTmarket<$250 • ODD85.1%94.5%11.4 bps11.4 bps96%79th$0.012199.9%
202608JNSTmarket<$250 • ROUND77.1%87.7%24.6 bps24.2 bps94%48th$0.001699.9%
202608JNSTmarket$250–$999 • ODD82.6%94.4%6.8 bps6.9 bps88%75th$0.017299.9%
202608JNSTmarket$250–$999 • ROUND74.6%85.8%20.0 bps19.5 bps90%72nd$0.003399.9%
202608JNSTmarket$1k–$5k • ODD86.6%96.4%4.4 bps4.6 bps87%58th$0.0212100.0%
202608JNSTmarket$1k–$5k • ROUND67.6%79.2%9.7 bps9.8 bps87%74th$0.005799.9%
202608JNSTmarket$5k–$10k • ODD88.8%97.2%3.8 bps3.5 bps82%59th$0.0317100.0%
202608JNSTmarket$5k–$10k • ROUND65.6%74.0%5.4 bps4.8 bps68%64th$0.007799.8%
202608JNSTmarket$10k–$20k • ODD89.6%97.5%4.2 bps3.8 bps82%63rd$0.0533100.0%
202608JNSTmarket$10k–$20k • ROUND70.6%77.2%4.0 bps3.6 bps56%58th$0.010899.6%
202608JNSTmarket$20k–$50k • ODD91.0%97.1%3.7 bps2.8 bps77%55th$0.1101100.0%
202608JNSTmarket$20k–$50k • ROUND76.8%82.8%3.3 bps3.0 bps60%59th$0.012599.6%
202608JNSTmarket$50k–$200k • ROUND79.9%84.9%2.2 bps2.5 bps62%62nd$0.016099.6%
202608JNSTmarket≥$200k • ROUND78.9%69.6%-0.4 bps-0.4 bps37%49th$0.041699.2%
202608JNSTmarketable_limit<$250 • ODD82.6%88.6%15.3 bps-59.2 bps98%96th$0.008099.7%
202608JNSTmarketable_limit<$250 • ROUND77.1%85.2%16.1 bps-75.8 bps98%67th$0.001399.7%
202608JNSTmarketable_limit$250–$999 • ODD82.6%86.9%10.0 bps-34.5 bps89%95th$0.022299.7%
202608JNSTmarketable_limit$250–$999 • ROUND73.5%82.4%15.5 bps-68.7 bps97%79th$0.002699.5%
202608JNSTmarketable_limit$1k–$5k • ODD86.9%88.6%4.0 bps-12.1 bps81%78th$0.035399.9%
202608JNSTmarketable_limit$1k–$5k • ROUND61.8%71.8%9.6 bps-37.2 bps93%81st$0.005098.6%
202608JNSTmarketable_limit$5k–$10k • ODD86.6%92.0%2.9 bps-10.2 bps79%76th$0.0541100.0%
202608JNSTmarketable_limit$5k–$10k • ROUND53.0%62.0%4.2 bps-18.5 bps68%67th$0.008797.3%
202608JNSTmarketable_limit$10k–$20k • ODD86.7%91.4%3.4 bps-5.8 bps74%71st$0.0938100.0%
202608JNSTmarketable_limit$10k–$20k • ROUND54.0%62.8%2.5 bps-9.8 bps58%62nd$0.010996.5%
202608JNSTmarketable_limit$20k–$50k • ODD89.2%95.3%3.7 bps-0.8 bps34%80th$0.160699.7%
202608JNSTmarketable_limit$20k–$50k • ROUND57.7%65.5%1.4 bps-5.5 bps63%60th$0.012296.3%
202608JNSTmarketable_limit$50k–$200k • ROUND60.8%61.9%0.9 bps-3.8 bps62%62nd$0.013796.2%
202608JNSTmarketable_limit≥$200k • ROUND62.8%53.2%-1.0 bps-5.4 bps33%20th$0.031291.8%
202608JNSTnonmarketable_limit<$250 • ODD54.4%100.0%34.2 bps74.4 bps97%75th$0.024482.7%
202608JNSTnonmarketable_limit<$250 • ROUND25.2%100.0%53.2 bps38.4 bps93%43rd$0.001467.9%
202608JNSTnonmarketable_limit$250–$999 • ODD43.7%100.0%18.3 bps52.9 bps93%60th$0.047273.6%
202608JNSTnonmarketable_limit$250–$999 • ROUND20.7%100.0%55.4 bps124.9 bps89%66th$0.003862.7%
202608JNSTnonmarketable_limit$1k–$5k • ODD29.9%100.0%15.3 bps44.8 bps87%65th$0.094458.6%
202608JNSTnonmarketable_limit$1k–$5k • ROUND11.7%100.0%28.4 bps78.8 bps75%61st$0.010245.8%
202608JNSTnonmarketable_limit$5k–$10k • ODD31.5%100.0%17.3 bps52.0 bps86%79th$0.235863.8%
202608JNSTnonmarketable_limit$5k–$10k • ROUND7.7%100.0%17.5 bps39.0 bps35%53rd$0.016836.1%
202608JNSTnonmarketable_limit$10k–$20k • ODD24.8%100.0%19.0 bps45.3 bps88%78th$0.481965.7%
202608JNSTnonmarketable_limit$10k–$20k • ROUND8.2%100.0%12.1 bps32.0 bps36%46th$0.023733.8%
202608JNSTnonmarketable_limit$20k–$50k • ODD15.4%100.0%25.1 bps48.1 bps84%86th$1.304374.7%
202608JNSTnonmarketable_limit$20k–$50k • ROUND8.2%100.0%10.3 bps34.8 bps45%51st$0.030532.4%
202608JNSTnonmarketable_limit$50k–$200k • ROUND14.2%100.0%8.9 bps26.6 bps49%53rd$0.034330.4%
202608JNSTnonmarketable_limit≥$200k • ROUND28.5%100.0%6.6 bps26.8 bps33%52nd$0.040230.8%
202608JNSTmarket<$250 • ODD90.7%98.0%2.9 bps3.2 bps100%63rd$0.0189100.0%
202608JNSTmarket$250–$999 • ODD89.0%97.9%2.8 bps3.2 bps100%56th$0.0274100.0%
202608JNSTmarket$250–$999 • ROUND————————
202608JNSTmarket$1k–$5k • ODD85.4%97.4%2.7 bps3.2 bps100%57th$0.0273100.0%
202608JNSTmarket$1k–$5k • ROUND79.0%95.5%1.5 bps2.0 bps97%37th$0.0039100.0%
202608JNSTmarket$5k–$10k • ODD88.7%98.1%2.7 bps3.2 bps97%54th$0.0388100.0%
202608JNSTmarket$5k–$10k • ROUND81.6%96.0%1.5 bps1.8 bps93%44th$0.0056100.0%
202608JNSTmarket$10k–$20k • ODD89.2%97.9%2.8 bps3.2 bps95%59th$0.0568100.0%
202608JNSTmarket$10k–$20k • ROUND84.2%96.5%2.1 bps2.4 bps93%55th$0.0131100.0%
202608JNSTmarket$20k–$50k • ODD90.7%98.1%3.3 bps3.8 bps93%62nd$0.1392100.0%
202608JNSTmarket$20k–$50k • ROUND84.7%96.2%2.2 bps2.4 bps93%54th$0.0215100.0%
202608JNSTmarket$50k–$200k • ODD91.7%97.2%3.3 bps4.0 bps93%47th$0.363299.9%
202608JNSTmarket$50k–$200k • ROUND83.2%93.5%2.4 bps2.7 bps89%56th$0.0321100.0%
202608JNSTmarket≥$200k • ROUND77.3%70.8%0.8 bps0.5 bps72%52nd$0.097399.8%
202608JNSTmarketable_limit<$250 • ODD90.2%88.5%1.7 bps-4.1 bps95%61st$0.016299.9%
202608JNSTmarketable_limit$250–$999 • ODD89.6%88.9%1.8 bps-4.2 bps92%60th$0.033499.9%
202608JNSTmarketable_limit$250–$999 • ROUND————————
202608JNSTmarketable_limit$1k–$5k • ODD88.0%88.6%1.9 bps-6.1 bps92%63rd$0.049599.9%
202608JNSTmarketable_limit$1k–$5k • ROUND80.8%86.7%1.3 bps-7.6 bps81%58th$0.0056100.0%
202608JNSTmarketable_limit$5k–$10k • ODD88.5%90.5%2.0 bps-6.5 bps90%69th$0.0612100.0%
202608JNSTmarketable_limit$5k–$10k • ROUND82.0%86.7%1.1 bps-7.3 bps75%63rd$0.008499.9%
202608JNSTmarketable_limit$10k–$20k • ODD88.1%91.3%1.9 bps-4.1 bps89%63rd$0.081199.9%
202608JNSTmarketable_limit$10k–$20k • ROUND84.0%89.1%1.7 bps-6.3 bps75%61st$0.018499.9%
202608JNSTmarketable_limit$20k–$50k • ODD90.3%93.4%2.5 bps-0.6 bps91%73rd$0.1808100.0%
202608JNSTmarketable_limit$20k–$50k • ROUND83.1%89.3%1.4 bps-4.7 bps80%59th$0.027499.8%
202608JNSTmarketable_limit$50k–$200k • ODD92.3%95.8%3.0 bps1.2 bps98%73rd$0.4663100.0%
202608JNSTmarketable_limit$50k–$200k • ROUND80.6%84.6%1.5 bps-2.9 bps71%67th$0.038499.2%
202608JNSTmarketable_limit≥$200k • ROUND65.6%55.9%0.2 bps-5.0 bps59%64th$0.109194.7%
202608JNSTnonmarketable_limit<$250 • ODD81.8%100.0%3.6 bps19.8 bps98%30th$0.034168.6%
202608JNSTnonmarketable_limit$250–$999 • ODD71.8%100.0%3.6 bps22.7 bps99%37th$0.064582.6%
202608JNSTnonmarketable_limit$250–$999 • ROUND————————
202608JNSTnonmarketable_limit$1k–$5k • ODD39.1%100.0%3.7 bps26.7 bps98%33rd$0.072965.5%
202608JNSTnonmarketable_limit$1k–$5k • ROUND35.7%100.0%3.8 bps12.5 bps98%54th$0.005270.3%
202608JNSTnonmarketable_limit$5k–$10k • ODD66.0%100.0%3.7 bps28.9 bps94%35th$0.084863.8%
202608JNSTnonmarketable_limit$5k–$10k • ROUND6.6%100.0%3.0 bps19.6 bps75%49th$0.012840.8%
202608JNSTnonmarketable_limit$10k–$20k • ODD57.4%100.0%3.9 bps23.7 bps94%47th$0.131465.8%
202608JNSTnonmarketable_limit$10k–$20k • ROUND8.2%100.0%3.1 bps30.8 bps78%36th$0.038748.3%
202608JNSTnonmarketable_limit$20k–$50k • ODD57.7%100.0%4.1 bps11.0 bps95%59th$0.258665.6%
202608JNSTnonmarketable_limit$20k–$50k • ROUND7.7%100.0%3.0 bps30.7 bps84%35th$0.056152.8%
202608JNSTnonmarketable_limit$50k–$200k • ODD60.0%100.0%8.2 bps9.0 bps98%80th$1.233269.9%
202608JNSTnonmarketable_limit$50k–$200k • ROUND9.6%100.0%3.0 bps29.7 bps84%41st$0.079552.4%
202608JNSTnonmarketable_limit≥$200k • ROUND40.7%100.0%2.9 bps27.0 bps70%46th$0.105950.0%

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.

Download CSV ↓
MonthClassNotional × LotMetricFirm CompositeBest CompetingBest VenueMedian CompetingMapped Flow
202608market<$250 • FRACTfill_rate—100.0%APRT72.6%0%
202608market<$250 • FRACTpi_rate—99.8%FORS97.4%0%
202608market<$250 • FRACTnpi_bps—7.2 bpsGNPR2.3 bps0%
202608market<$250 • FRACTefq_pct—-1.0%VGRD7.4%0%
202608market<$250 • FRACTeff_sprd—-0.0011FIBS0.00340%
202608market<$250 • FRACTeff_sprd_pct—-0.0%FIBS0.0%0%
202608market<$250 • FRACTreal_sprd_15s—-0.0097CNBS0.00350%
202608market<$250 • FRACTreal_sprd_15s_pct—-0.1%NFBS0.0%0%
202608market<$250 • FRACTreal_sprd_1m—-0.0120APRT0.00610%
202608market<$250 • FRACTreal_sprd_1m_pct—-0.1%NFBS0.0%0%
202608market<$250 • FRACTspeed_1s—1.0000FORS0.99940%
202608market<$250 • ODDfill_rate—100.0%JPDA14.0%0%
202608market<$250 • ODDpi_rate—100.0%JPMX93.1%0%
202608market<$250 • ODDnpi_bps—152.2 bpsEDGJ6.9 bps0%
202608market<$250 • ODDefq_pct—-491579.6%EDGJ29.9%0%
202608market<$250 • ODDeff_sprd—-0.3142EDGJ0.00890%
202608market<$250 • ODDeff_sprd_pct—-4.3%BYXX0.1%0%
202608market<$250 • ODDreal_sprd_15s—-0.3139EDGJ0.00820%
202608market<$250 • ODDreal_sprd_15s_pct—-4.3%BYXX0.1%0%
202608market<$250 • ODDreal_sprd_1m—-0.3137EDGJ0.00870%
202608market<$250 • ODDreal_sprd_1m_pct—-4.2%BYXX0.1%0%
202608market<$250 • ODDspeed_1s—1.0000ALTR0.99870%
202608market<$250 • ROUNDfill_rate—100.0%JPDA9.7%0%
202608market<$250 • ROUNDpi_rate—100.0%JPDA67.0%0%
202608market<$250 • ROUNDnpi_bps—354.2 bpsBYXX24.9 bps0%
202608market<$250 • ROUNDefq_pct—-132911.4%BYXX41.2%0%
202608market<$250 • ROUNDeff_sprd—-0.2010BYXX0.00260%
202608market<$250 • ROUNDeff_sprd_pct—-32.7%BYXX0.6%0%
202608market<$250 • ROUNDreal_sprd_15s—-0.1999BYXX0.00190%
202608market<$250 • ROUNDreal_sprd_15s_pct—-32.6%BYXX0.5%0%
202608market<$250 • ROUNDreal_sprd_1m—-0.1973BYXX0.00130%
202608market<$250 • ROUNDreal_sprd_1m_pct—-31.9%BYXX0.4%0%
202608market<$250 • ROUNDspeed_1s—1.0000ALBS0.99550%
202608market$250–$999 • FRACTfill_rate—100.0%AEIS87.0%0%
202608market$250–$999 • FRACTpi_rate—100.0%CNBS93.5%0%
202608market$250–$999 • FRACTnpi_bps—7.4 bpsWBUS1.1 bps0%
202608market$250–$999 • FRACTefq_pct—-7.4%PNCC2.0%0%
202608market$250–$999 • FRACTeff_sprd—-0.0050NFSC0.00250%
202608market$250–$999 • FRACTeff_sprd_pct—-0.0%FIBS0.0%0%
202608market$250–$999 • FRACTreal_sprd_15s—-0.0345PNCC0.01660%
202608market$250–$999 • FRACTreal_sprd_15s_pct—-0.0%PNCC0.0%0%
202608market$250–$999 • FRACTreal_sprd_1m—-0.0796PNCC0.03500%
202608market$250–$999 • FRACTreal_sprd_1m_pct—-0.0%PNCC0.0%0%
202608market$250–$999 • FRACTspeed_1s—1.0000PNCC0.99960%
202608market$250–$999 • ODDfill_rate—100.0%JPDA28.8%0%
202608market$250–$999 • ODDpi_rate—100.0%JPMX93.1%0%
202608market$250–$999 • ODDnpi_bps—47.1 bpsBATS5.3 bps0%
202608market$250–$999 • ODDefq_pct—-23751.6%EDGJ25.5%0%
202608market$250–$999 • ODDeff_sprd—-0.2005EDGJ0.01340%
202608market$250–$999 • ODDeff_sprd_pct—-0.8%EDGJ0.1%0%
202608market$250–$999 • ODDreal_sprd_15s—-0.1986EDGJ0.01160%
202608market$250–$999 • ODDreal_sprd_15s_pct—-0.8%EDGJ0.0%0%
202608market$250–$999 • ODDreal_sprd_1m—-0.1961EDGJ0.01070%
202608market$250–$999 • ODDreal_sprd_1m_pct—-0.8%EDGJ0.0%0%
202608market$250–$999 • ODDspeed_1s—1.0000PNCC0.99910%
202608market$250–$999 • ROUNDfill_rate—100.0%JPDA26.6%0%
202608market$250–$999 • ROUNDpi_rate—100.0%JPDA78.8%0%
202608market$250–$999 • ROUNDnpi_bps—137.2 bpsEDGJ15.3 bps0%
202608market$250–$999 • ROUNDefq_pct—-284033.3%BYXX39.5%0%
202608market$250–$999 • ROUNDeff_sprd—-0.5883BYXX0.00300%
202608market$250–$999 • ROUNDeff_sprd_pct—-5.4%BYXX0.4%0%
202608market$250–$999 • ROUNDreal_sprd_15s—-0.5741BYXX0.00220%
202608market$250–$999 • ROUNDreal_sprd_15s_pct—-5.6%BYXX0.2%0%
202608market$250–$999 • ROUNDreal_sprd_1m—-0.5760BYXX0.00220%
202608market$250–$999 • ROUNDreal_sprd_1m_pct—-5.7%BYXX0.1%0%
202608market$250–$999 • ROUNDspeed_1s—1.0000TPTG0.99880%
202608market$1k–$5k • FRACTfill_rate—97.4%NITE66.7%0%
202608market$1k–$5k • FRACTpi_rate—100.0%APCC89.9%0%
202608market$1k–$5k • FRACTnpi_bps—4.7 bpsNFSC3.3 bps0%
202608market$1k–$5k • FRACTefq_pct—-3.7%NFSC20.1%0%
202608market$1k–$5k • FRACTeff_sprd—-0.0485FIBS0.27570%
202608market$1k–$5k • FRACTeff_sprd_pct—-0.0%FIBS0.0%0%
202608market$1k–$5k • FRACTreal_sprd_15s—-0.0349FIBS0.20940%
202608market$1k–$5k • FRACTreal_sprd_15s_pct—-0.0%FIBS0.0%0%
202608market$1k–$5k • FRACTreal_sprd_1m—0.0243NFSF0.23540%
202608market$1k–$5k • FRACTreal_sprd_1m_pct—0.0%NFSF0.0%0%
202608market$1k–$5k • FRACTspeed_1s—1.0000NFSC1.00000%
202608market$1k–$5k • ODDfill_rate—100.0%JPDA23.9%0%
202608market$1k–$5k • ODDpi_rate—100.0%JPMX93.2%0%
202608market$1k–$5k • ODDnpi_bps—43.2 bpsEDGK4.0 bps0%
202608market$1k–$5k • ODDefq_pct—-22.7%JPDA21.8%0%
202608market$1k–$5k • ODDeff_sprd—-0.0201JPDA0.01460%
202608market$1k–$5k • ODDeff_sprd_pct—-0.1%EDGJ0.0%0%
202608market$1k–$5k • ODDreal_sprd_15s—-0.0752JSDP0.01500%
202608market$1k–$5k • ODDreal_sprd_15s_pct—-0.1%EDGJ0.0%0%
202608market$1k–$5k • ODDreal_sprd_1m—-0.1446JSDP0.01610%
202608market$1k–$5k • ODDreal_sprd_1m_pct—-0.2%JSDP0.0%0%
202608market$1k–$5k • ODDspeed_1s—1.0000ALBS0.99950%
202608market$1k–$5k • ROUNDfill_rate—100.0%JPDA17.0%0%
202608market$1k–$5k • ROUNDpi_rate—100.0%TLQNA79.2%0%
202608market$1k–$5k • ROUNDnpi_bps—46.4 bpsTWTT6.7 bps0%
202608market$1k–$5k • ROUNDefq_pct—-24.9%JPDA48.4%0%
202608market$1k–$5k • ROUNDeff_sprd—-0.0043JPDA0.00490%
202608market$1k–$5k • ROUNDeff_sprd_pct—-0.1%JPDA0.3%0%
202608market$1k–$5k • ROUNDreal_sprd_15s—-0.0719UBSA0.00340%
202608market$1k–$5k • ROUNDreal_sprd_15s_pct—-0.3%HRTS0.1%0%
202608market$1k–$5k • ROUNDreal_sprd_1m—-0.0494UBSA0.00330%
202608market$1k–$5k • ROUNDreal_sprd_1m_pct—-3.3%UBSA0.0%0%
202608market$1k–$5k • ROUNDspeed_1s—1.0000CNBS0.99820%
202608market$5k–$10k • ODDfill_rate—100.0%JPDA41.8%0%
202608market$5k–$10k • ODDpi_rate—99.9%JPDA93.8%0%
202608market$5k–$10k • ODDnpi_bps—55.8 bpsEDGK3.5 bps0%
202608market$5k–$10k • ODDefq_pct—-21.8%JPDA21.5%0%
202608market$5k–$10k • ODDeff_sprd—-0.0465PNCC0.02180%
202608market$5k–$10k • ODDeff_sprd_pct—-0.0%JPDA0.0%0%
202608market$5k–$10k • ODDreal_sprd_15s—-0.0403JPDA0.02160%
202608market$5k–$10k • ODDreal_sprd_15s_pct—-0.0%JPDA0.0%0%
202608market$5k–$10k • ODDreal_sprd_1m—-0.0959JSDP0.01690%
202608market$5k–$10k • ODDreal_sprd_1m_pct—-0.1%JSDP0.0%0%
202608market$5k–$10k • ODDspeed_1s—1.0000ALBS0.99960%
202608market$5k–$10k • ROUNDfill_rate—100.0%JPDA16.2%0%
202608market$5k–$10k • ROUNDpi_rate—100.0%TLQNA78.4%0%
202608market$5k–$10k • ROUNDnpi_bps—24.0 bpsBYXX4.6 bps0%
202608market$5k–$10k • ROUNDefq_pct—-22.2%JPDA51.0%0%
202608market$5k–$10k • ROUNDeff_sprd—-0.0072JPDA0.00700%
202608market$5k–$10k • ROUNDeff_sprd_pct—-10.3%EDGJ0.2%0%
202608market$5k–$10k • ROUNDreal_sprd_15s—-0.0163JSDP0.00380%
202608market$5k–$10k • ROUNDreal_sprd_15s_pct—-10.0%EDGJ0.0%0%
202608market$5k–$10k • ROUNDreal_sprd_1m—-0.0249JSDP0.00360%
202608market$5k–$10k • ROUNDreal_sprd_1m_pct—-9.9%EDGJ0.0%0%
202608market$5k–$10k • ROUNDspeed_1s—1.0000CNBS0.99700%
202608market$10k–$20k • ODDfill_rate—100.0%JPDA22.6%0%
202608market$10k–$20k • ODDpi_rate—100.0%JPDA94.0%0%
202608market$10k–$20k • ODDnpi_bps—17.8 bpsJSJX3.6 bps0%
202608market$10k–$20k • ODDefq_pct—-20.3%JPDA18.7%0%
202608market$10k–$20k • ODDeff_sprd—-0.0711JPDA0.04060%
202608market$10k–$20k • ODDeff_sprd_pct—-0.0%JPDA0.0%0%
202608market$10k–$20k • ODDreal_sprd_15s—-0.0703JSDP0.03410%
202608market$10k–$20k • ODDreal_sprd_15s_pct—-0.0%JSDP0.0%0%
202608market$10k–$20k • ODDreal_sprd_1m—-0.0855JSDP0.03210%
202608market$10k–$20k • ODDreal_sprd_1m_pct—-0.1%JSDP0.0%0%
202608market$10k–$20k • ODDspeed_1s—1.0000CNBS0.99950%
202608market$10k–$20k • ROUNDfill_rate—100.0%JPDA14.5%0%
202608market$10k–$20k • ROUNDpi_rate—100.0%TLQNA80.6%0%
202608market$10k–$20k • ROUNDnpi_bps—25.7 bpsBATS3.7 bps0%
202608market$10k–$20k • ROUNDefq_pct—-31502.0%EDGJ42.9%0%
202608market$10k–$20k • ROUNDeff_sprd—-0.0098JPDA0.00990%
202608market$10k–$20k • ROUNDeff_sprd_pct—-13.9%EDGJ0.1%0%
202608market$10k–$20k • ROUNDreal_sprd_15s—-0.0125PNCC0.00600%
202608market$10k–$20k • ROUNDreal_sprd_15s_pct—-13.9%EDGJ0.1%0%
202608market$10k–$20k • ROUNDreal_sprd_1m—-0.0201JPMX0.00520%
202608market$10k–$20k • ROUNDreal_sprd_1m_pct—-13.8%EDGJ0.0%0%
202608market$10k–$20k • ROUNDspeed_1s—1.0000BYXX0.99450%
202608market$20k–$50k • ODDfill_rate—100.0%ETMM18.6%0%
202608market$20k–$50k • ODDpi_rate—100.0%HRTS93.4%0%
202608market$20k–$50k • ODDnpi_bps—26.9 bpsTWTT3.5 bps0%
202608market$20k–$50k • ODDefq_pct—-19.0%VGRD21.5%0%
202608market$20k–$50k • ODDeff_sprd—-0.0064NFSC0.08560%
202608market$20k–$50k • ODDeff_sprd_pct—-0.0%NFSC0.0%0%
202608market$20k–$50k • ODDreal_sprd_15s—-0.0111NFSC0.06250%
202608market$20k–$50k • ODDreal_sprd_15s_pct—-0.0%NFSC0.0%0%
202608market$20k–$50k • ODDreal_sprd_1m—-0.0094NFSC0.05470%
202608market$20k–$50k • ODDreal_sprd_1m_pct—-0.0%NFSC0.0%0%
202608market$20k–$50k • ODDspeed_1s—1.0000ALTR1.00000%
202608market$20k–$50k • ROUNDfill_rate—100.0%JPDA12.7%0%
202608market$20k–$50k • ROUNDpi_rate—100.0%TLQNA80.9%0%
202608market$20k–$50k • ROUNDnpi_bps—28.0 bpsBATS3.0 bps0%
202608market$20k–$50k • ROUNDefq_pct—-5236.3%EDGK39.6%0%
202608market$20k–$50k • ROUNDeff_sprd—-0.0127PNCC0.01080%
202608market$20k–$50k • ROUNDeff_sprd_pct—-6.1%EDGJ0.1%0%
202608market$20k–$50k • ROUNDreal_sprd_15s—-0.0831JSDP0.00690%
202608market$20k–$50k • ROUNDreal_sprd_15s_pct—-6.1%EDGJ0.0%0%
202608market$20k–$50k • ROUNDreal_sprd_1m—-0.0693JSDP0.00590%
202608market$20k–$50k • ROUNDreal_sprd_1m_pct—-6.1%EDGJ0.1%0%
202608market$20k–$50k • ROUNDspeed_1s—1.0000EDGJ0.99300%
202608market$50k–$200k • ROUNDfill_rate—100.0%JPDA8.6%0%
202608market$50k–$200k • ROUNDpi_rate—100.0%TLQNT72.8%0%
202608market$50k–$200k • ROUNDnpi_bps—25.2 bpsTLQNT1.9 bps0%
202608market$50k–$200k • ROUNDefq_pct—-11.5%JPDA60.4%0%
202608market$50k–$200k • ROUNDeff_sprd—-0.0368PNCC0.01640%
202608market$50k–$200k • ROUNDeff_sprd_pct—-0.0%PNCC0.1%0%
202608market$50k–$200k • ROUNDreal_sprd_15s—-0.1700DADA0.00970%
202608market$50k–$200k • ROUNDreal_sprd_15s_pct—-0.4%DADA0.0%0%
202608market$50k–$200k • ROUNDreal_sprd_1m—-0.1048PNCC0.01010%
202608market$50k–$200k • ROUNDreal_sprd_1m_pct—-0.1%JSJX0.0%0%
202608market$50k–$200k • ROUNDspeed_1s—1.0000BYXX0.98160%
202608market≥$200k • ROUNDfill_rate—100.0%TKNG4.8%0%
202608market≥$200k • ROUNDpi_rate—99.8%TLQNA45.7%0%
202608market≥$200k • ROUNDnpi_bps—64.2 bpsEDGJ-0.4 bps0%
202608market≥$200k • ROUNDefq_pct—-15967.5%EDGJ158.6%0%
202608market≥$200k • ROUNDeff_sprd—-4.2043EDGJ0.04450%
202608market≥$200k • ROUNDeff_sprd_pct—-1.8%EDGJ0.1%0%
202608market≥$200k • ROUNDreal_sprd_15s—-4.1934EDGJ0.02180%
202608market≥$200k • ROUNDreal_sprd_15s_pct—-1.8%EDGJ0.0%0%
202608market≥$200k • ROUNDreal_sprd_1m—-4.1480EDGJ0.02030%
202608market≥$200k • ROUNDreal_sprd_1m_pct—-1.7%EDGJ0.0%0%
202608market≥$200k • ROUNDspeed_1s—1.0000FUTM0.87800%
202608marketable_limit<$250 • FRACTfill_rate—100.0%WLTF84.5%0%
202608marketable_limit<$250 • FRACTpi_rate—100.0%NOMA87.5%0%
202608marketable_limit<$250 • FRACTnpi_bps—6.5 bpsCRFN2.3 bps0%
202608marketable_limit<$250 • FRACTefq_pct—-15.1%NFSF31.8%0%
202608marketable_limit<$250 • FRACTeff_sprd—-0.0093NFSF0.01370%
202608marketable_limit<$250 • FRACTeff_sprd_pct—-0.0%NFSF0.0%0%
202608marketable_limit<$250 • FRACTreal_sprd_15s—-0.0107NFSF0.01400%
202608marketable_limit<$250 • FRACTreal_sprd_15s_pct—-0.0%NFSF0.0%0%
202608marketable_limit<$250 • FRACTreal_sprd_1m—-0.0126NFSF0.01320%
202608marketable_limit<$250 • FRACTreal_sprd_1m_pct—-0.0%NFSF0.0%0%
202608marketable_limit<$250 • FRACTspeed_1s—1.0000NOMA0.99660%
202608marketable_limit<$250 • ODDfill_rate—100.0%DWFT13.6%0%
202608marketable_limit<$250 • ODDpi_rate—100.0%TLQNA77.8%0%
202608marketable_limit<$250 • ODDnpi_bps—58.2 bpsTTSI3.8 bps0%
202608marketable_limit<$250 • ODDefq_pct—-21.9%JPDA70.3%0%
202608marketable_limit<$250 • ODDeff_sprd—-0.0057JPDA0.01500%
202608marketable_limit<$250 • ODDeff_sprd_pct—-0.1%JPDA0.3%0%
202608marketable_limit<$250 • ODDreal_sprd_15s—-0.0097JPDA0.01190%
202608marketable_limit<$250 • ODDreal_sprd_15s_pct—-0.2%JPDA0.2%0%
202608marketable_limit<$250 • ODDreal_sprd_1m—-0.0117JPDA0.01040%
202608marketable_limit<$250 • ODDreal_sprd_1m_pct—-0.0%JPMS0.2%0%
202608marketable_limit<$250 • ODDspeed_1s—1.0000ALPX0.99950%
202608marketable_limit<$250 • ROUNDfill_rate—100.0%DWFT9.0%0%
202608marketable_limit<$250 • ROUNDpi_rate—100.0%TLQNA45.0%0%
202608marketable_limit<$250 • ROUNDnpi_bps—56.1 bpsDAIN8.9 bps0%
202608marketable_limit<$250 • ROUNDefq_pct—0.0%TLQNA83.7%0%
202608marketable_limit<$250 • ROUNDeff_sprd—-0.0008JPBD0.00370%
202608marketable_limit<$250 • ROUNDeff_sprd_pct—-0.0%JPBD0.7%0%
202608marketable_limit<$250 • ROUNDreal_sprd_15s—-0.0186CSTI0.00300%
202608marketable_limit<$250 • ROUNDreal_sprd_15s_pct—-4.6%GTSM0.6%0%
202608marketable_limit<$250 • ROUNDreal_sprd_1m—-0.0046JRET0.00290%
202608marketable_limit<$250 • ROUNDreal_sprd_1m_pct—-3.3%GTSM0.6%0%
202608marketable_limit<$250 • ROUNDspeed_1s—1.0000ALPX0.99760%
202608marketable_limit$250–$999 • FRACTfill_rate—100.0%HRTF71.6%0%
202608marketable_limit$250–$999 • FRACTpi_rate—97.3%NFSF76.6%0%
202608marketable_limit$250–$999 • FRACTnpi_bps—2.1 bpsFIBS1.3 bps0%
202608marketable_limit$250–$999 • FRACTefq_pct—-20.7%NFSF31.4%0%
202608marketable_limit$250–$999 • FRACTeff_sprd—-0.0287NFSF0.09350%
202608marketable_limit$250–$999 • FRACTeff_sprd_pct—-0.0%NFSF0.0%0%
202608marketable_limit$250–$999 • FRACTreal_sprd_15s—-0.0283NFSF0.09370%
202608marketable_limit$250–$999 • FRACTreal_sprd_15s_pct—-0.0%NFSF0.0%0%
202608marketable_limit$250–$999 • FRACTreal_sprd_1m—-0.0377NFSF0.06180%
202608marketable_limit$250–$999 • FRACTreal_sprd_1m_pct—-0.0%NFSF0.0%0%
202608marketable_limit$250–$999 • FRACTspeed_1s—1.0000HRTF0.99850%
202608marketable_limit$250–$999 • ODDfill_rate—100.0%DWFT15.3%0%
202608marketable_limit$250–$999 • ODDpi_rate—99.9%DWFT84.0%0%
202608marketable_limit$250–$999 • ODDnpi_bps—30.0 bpsXTXE2.7 bps0%
202608marketable_limit$250–$999 • ODDefq_pct—-25.2%JPDA70.9%0%
202608marketable_limit$250–$999 • ODDeff_sprd—-0.0370AEFA0.02500%
202608marketable_limit$250–$999 • ODDeff_sprd_pct—-0.0%JPDA0.1%0%
202608marketable_limit$250–$999 • ODDreal_sprd_15s—-0.0280AEFA0.01930%
202608marketable_limit$250–$999 • ODDreal_sprd_15s_pct—-0.0%JPDA0.1%0%
202608marketable_limit$250–$999 • ODDreal_sprd_1m—-0.0195AEFA0.01610%
202608marketable_limit$250–$999 • ODDreal_sprd_1m_pct—-0.2%MSCO0.1%0%
202608marketable_limit$250–$999 • ODDspeed_1s—1.0000AEFA0.99970%
202608marketable_limit$250–$999 • ROUNDfill_rate—100.0%DWFT10.5%0%
202608marketable_limit$250–$999 • ROUNDpi_rate—100.0%DWFT51.9%0%
202608marketable_limit$250–$999 • ROUNDnpi_bps—37.4 bpsDAIN6.4 bps0%
202608marketable_limit$250–$999 • ROUNDefq_pct—-4.0%JPBD82.6%0%
202608marketable_limit$250–$999 • ROUNDeff_sprd—-0.0029JPBD0.00690%
202608marketable_limit$250–$999 • ROUNDeff_sprd_pct—-0.1%JPBD0.5%0%
202608marketable_limit$250–$999 • ROUNDreal_sprd_15s—-0.0020XASE0.00360%
202608marketable_limit$250–$999 • ROUNDreal_sprd_15s_pct—-0.2%ARCX0.3%0%
202608marketable_limit$250–$999 • ROUNDreal_sprd_1m—-0.0024XASE0.00350%
202608marketable_limit$250–$999 • ROUNDreal_sprd_1m_pct—-0.3%ARCX0.2%0%
202608marketable_limit$250–$999 • ROUNDspeed_1s—1.0000CGWM0.99580%
202608marketable_limit$1k–$5k • ODDfill_rate—100.0%DWFT18.1%0%
202608marketable_limit$1k–$5k • ODDpi_rate—100.0%JPDA82.0%0%
202608marketable_limit$1k–$5k • ODDnpi_bps—48.0 bpsTWTT2.1 bps0%
202608marketable_limit$1k–$5k • ODDefq_pct—-41.9%PNCC71.0%0%
202608marketable_limit$1k–$5k • ODDeff_sprd—-0.0136JPDA0.04460%
202608marketable_limit$1k–$5k • ODDeff_sprd_pct—-0.0%JPDA0.1%0%
202608marketable_limit$1k–$5k • ODDreal_sprd_15s—-0.0324JPDA0.03160%
202608marketable_limit$1k–$5k • ODDreal_sprd_15s_pct—-0.0%JPDA0.1%0%
202608marketable_limit$1k–$5k • ODDreal_sprd_1m—-0.0613AEFA0.03000%
202608marketable_limit$1k–$5k • ODDreal_sprd_1m_pct—-0.1%HRTF0.1%0%
202608marketable_limit$1k–$5k • ODDspeed_1s—1.0000PNCC0.99930%
202608marketable_limit$1k–$5k • ROUNDfill_rate—100.0%DWFT8.6%0%
202608marketable_limit$1k–$5k • ROUNDpi_rate—100.0%JPDA53.6%0%
202608marketable_limit$1k–$5k • ROUNDnpi_bps—20.4 bpsGTSM3.1 bps0%
202608marketable_limit$1k–$5k • ROUNDefq_pct—-21.9%JPDA83.4%0%
202608marketable_limit$1k–$5k • ROUNDeff_sprd—-13.1268EDGK0.01160%
202608marketable_limit$1k–$5k • ROUNDeff_sprd_pct—-0.1%JPDA0.3%0%
202608marketable_limit$1k–$5k • ROUNDreal_sprd_15s—-0.0092EDGK0.00450%
202608marketable_limit$1k–$5k • ROUNDreal_sprd_15s_pct—-0.2%ARCX0.1%0%
202608marketable_limit$1k–$5k • ROUNDreal_sprd_1m—-0.0057ARCX0.00420%
202608marketable_limit$1k–$5k • ROUNDreal_sprd_1m_pct—-0.2%ARCX0.1%0%
202608marketable_limit$1k–$5k • ROUNDspeed_1s—1.0000CNBS0.98590%
202608marketable_limit$5k–$10k • ODDfill_rate—100.0%DWFT26.5%0%
202608marketable_limit$5k–$10k • ODDpi_rate—100.0%TLQNA80.2%0%
202608marketable_limit$5k–$10k • ODDnpi_bps—21.9 bpsTWTT1.4 bps0%
202608marketable_limit$5k–$10k • ODDefq_pct—-5.7%FIBS75.6%0%
202608marketable_limit$5k–$10k • ODDeff_sprd—-0.0074FIBS0.08230%
202608marketable_limit$5k–$10k • ODDeff_sprd_pct—-0.0%NFSC0.1%0%
202608marketable_limit$5k–$10k • ODDreal_sprd_15s—-0.0589MSCO0.05610%
202608marketable_limit$5k–$10k • ODDreal_sprd_15s_pct—-0.1%MSCO0.0%0%
202608marketable_limit$5k–$10k • ODDreal_sprd_1m—-0.1230MSCO0.04920%
202608marketable_limit$5k–$10k • ODDreal_sprd_1m_pct—-0.1%MSCO0.0%0%
202608marketable_limit$5k–$10k • ODDspeed_1s—1.0000ALPX0.99970%
202608marketable_limit$5k–$10k • ROUNDfill_rate—100.0%DWFT8.4%0%
202608marketable_limit$5k–$10k • ROUNDpi_rate—100.0%JPDA50.6%0%
202608marketable_limit$5k–$10k • ROUNDnpi_bps—15.6 bpsSWST2.0 bps0%
202608marketable_limit$5k–$10k • ROUNDefq_pct—-25.7%JPDA87.6%0%
202608marketable_limit$5k–$10k • ROUNDeff_sprd—-0.0058JPDA0.01770%
202608marketable_limit$5k–$10k • ROUNDeff_sprd_pct—-0.0%JPDA0.2%0%
202608marketable_limit$5k–$10k • ROUNDreal_sprd_15s—-0.0143AEFA0.00570%
202608marketable_limit$5k–$10k • ROUNDreal_sprd_15s_pct—-0.5%WEDB0.1%0%
202608marketable_limit$5k–$10k • ROUNDreal_sprd_1m—-0.0102WEDB0.00480%
202608marketable_limit$5k–$10k • ROUNDreal_sprd_1m_pct—-0.5%WEDB0.1%0%
202608marketable_limit$5k–$10k • ROUNDspeed_1s—1.0000CODX0.98080%
202608marketable_limit$10k–$20k • ODDfill_rate—100.0%DWFT24.4%0%
202608marketable_limit$10k–$20k • ODDpi_rate—100.0%TLQNA79.5%0%
202608marketable_limit$10k–$20k • ODDnpi_bps—14.3 bpsXTXE1.4 bps0%
202608marketable_limit$10k–$20k • ODDefq_pct—-12.0%JPBD75.8%0%
202608marketable_limit$10k–$20k • ODDeff_sprd—-0.0115NFSC0.14080%
202608marketable_limit$10k–$20k • ODDeff_sprd_pct—-0.0%NFSC0.1%0%
202608marketable_limit$10k–$20k • ODDreal_sprd_15s—-0.0510XSTM0.09410%
202608marketable_limit$10k–$20k • ODDreal_sprd_15s_pct—-0.0%XSTM0.0%0%
202608marketable_limit$10k–$20k • ODDreal_sprd_1m—-0.0600TLQNA0.09400%
202608marketable_limit$10k–$20k • ODDreal_sprd_1m_pct—-0.0%TLQNA0.0%0%
202608marketable_limit$10k–$20k • ODDspeed_1s—1.0000ALPX0.99990%
202608marketable_limit$10k–$20k • ROUNDfill_rate—100.0%DWFT8.2%0%
202608marketable_limit$10k–$20k • ROUNDpi_rate—100.0%JPDA46.4%0%
202608marketable_limit$10k–$20k • ROUNDnpi_bps—8.8 bpsHRBF1.2 bps0%
202608marketable_limit$10k–$20k • ROUNDefq_pct—-25.2%JPDA88.7%0%
202608marketable_limit$10k–$20k • ROUNDeff_sprd—-0.0061JPDA0.02000%
202608marketable_limit$10k–$20k • ROUNDeff_sprd_pct—-0.0%JPDA0.2%0%
202608marketable_limit$10k–$20k • ROUNDreal_sprd_15s—-0.0110MSRP0.00590%
202608marketable_limit$10k–$20k • ROUNDreal_sprd_15s_pct—-0.1%ARCX0.1%0%
202608marketable_limit$10k–$20k • ROUNDreal_sprd_1m—-0.0131MSRP0.00850%
202608marketable_limit$10k–$20k • ROUNDreal_sprd_1m_pct—-0.2%MSRP0.1%0%
202608marketable_limit$10k–$20k • ROUNDspeed_1s—1.0000CODX0.98030%
202608marketable_limit$20k–$50k • ODDfill_rate—100.0%ETMM19.4%0%
202608marketable_limit$20k–$50k • ODDpi_rate—100.0%MSRP63.4%0%
202608marketable_limit$20k–$50k • ODDnpi_bps—10.5 bpsXTXE1.7 bps0%
202608marketable_limit$20k–$50k • ODDefq_pct—-10.6%FIBS83.8%0%
202608marketable_limit$20k–$50k • ODDeff_sprd—0.0024FIBS0.34110%
202608marketable_limit$20k–$50k • ODDeff_sprd_pct—-0.0%FIBS0.1%0%
202608marketable_limit$20k–$50k • ODDreal_sprd_15s—-0.0179GTSM0.19710%
202608marketable_limit$20k–$50k • ODDreal_sprd_15s_pct—-0.0%GTSM0.1%0%
202608marketable_limit$20k–$50k • ODDreal_sprd_1m—-0.0671MLCO0.15410%
202608marketable_limit$20k–$50k • ODDreal_sprd_1m_pct—-0.0%MLCO0.1%0%
202608marketable_limit$20k–$50k • ODDspeed_1s—1.0000ALPX1.00000%
202608marketable_limit$20k–$50k • ROUNDfill_rate—100.0%DWFT8.4%0%
202608marketable_limit$20k–$50k • ROUNDpi_rate—100.0%JPDA42.8%0%
202608marketable_limit$20k–$50k • ROUNDnpi_bps—7.2 bpsTLQNA0.9 bps0%
202608marketable_limit$20k–$50k • ROUNDefq_pct—-23.9%JPDA87.6%0%
202608marketable_limit$20k–$50k • ROUNDeff_sprd—-0.0100MOAT0.02290%
202608marketable_limit$20k–$50k • ROUNDeff_sprd_pct—-0.0%JPDA0.2%0%
202608marketable_limit$20k–$50k • ROUNDreal_sprd_15s—-0.0400MOAT0.00790%
202608marketable_limit$20k–$50k • ROUNDreal_sprd_15s_pct—-0.1%ARCX0.0%0%
202608marketable_limit$20k–$50k • ROUNDreal_sprd_1m—-0.1800MOAT0.00640%
202608marketable_limit$20k–$50k • ROUNDreal_sprd_1m_pct—-0.2%MOAT0.0%0%
202608marketable_limit$20k–$50k • ROUNDspeed_1s—1.0000CODX0.97750%
202608marketable_limit$50k–$200k • ROUNDfill_rate—100.0%DWFT5.8%0%
202608marketable_limit$50k–$200k • ROUNDpi_rate—99.9%DWFT36.2%0%
202608marketable_limit$50k–$200k • ROUNDnpi_bps—10.3 bpsTLQNA0.5 bps0%
202608marketable_limit$50k–$200k • ROUNDefq_pct—-7.9%MSRP91.6%0%
202608marketable_limit$50k–$200k • ROUNDeff_sprd—-0.0006AEFA0.02500%
202608marketable_limit$50k–$200k • ROUNDeff_sprd_pct—-0.0%TLQNA0.1%0%
202608marketable_limit$50k–$200k • ROUNDreal_sprd_15s—-0.0077ARCX0.00880%
202608marketable_limit$50k–$200k • ROUNDreal_sprd_15s_pct—-0.3%DWWT0.0%0%
202608marketable_limit$50k–$200k • ROUNDreal_sprd_1m—-0.0256MSRP0.00900%
202608marketable_limit$50k–$200k • ROUNDreal_sprd_1m_pct—-0.1%MSRP0.0%0%
202608marketable_limit$50k–$200k • ROUNDspeed_1s—1.0000CODX0.96560%
202608marketable_limit≥$200k • ROUNDfill_rate—100.0%TLQNT2.8%0%
202608marketable_limit≥$200k • ROUNDpi_rate—99.3%TLQNT28.7%0%
202608marketable_limit≥$200k • ROUNDnpi_bps—21.1 bpsTLQNT-0.2 bps0%
202608marketable_limit≥$200k • ROUNDefq_pct—2.9%MSRP99.0%0%
202608marketable_limit≥$200k • ROUNDeff_sprd—0.0006MSRP0.03410%
202608marketable_limit≥$200k • ROUNDeff_sprd_pct—0.0%TLQNT0.1%0%
202608marketable_limit≥$200k • ROUNDreal_sprd_15s—-0.1537SGSD0.01350%
202608marketable_limit≥$200k • ROUNDreal_sprd_15s_pct—-0.4%STFX0.0%0%
202608marketable_limit≥$200k • ROUNDreal_sprd_1m—-0.2760JPBD0.01300%
202608marketable_limit≥$200k • ROUNDreal_sprd_1m_pct—-0.4%STFX0.0%0%
202608marketable_limit≥$200k • ROUNDspeed_1s—1.0000CODX0.93170%
202608nonmarketable_limit<$250 • FRACTfill_rate—80.3%HRTF63.3%0%
202608nonmarketable_limit<$250 • FRACTpi_rate—100.0%APCC100.0%0%
202608nonmarketable_limit<$250 • FRACTnpi_bps—83.5 bpsFORS14.7 bps0%
202608nonmarketable_limit<$250 • FRACTefq_pct—-53.5%FIBS1.0%0%
202608nonmarketable_limit<$250 • FRACTeff_sprd—-0.1632FIBS-0.00880%
202608nonmarketable_limit<$250 • FRACTeff_sprd_pct—-0.2%NFSC-0.0%0%
202608nonmarketable_limit<$250 • FRACTreal_sprd_15s—-0.1178CHAS0.00280%
202608nonmarketable_limit<$250 • FRACTreal_sprd_15s_pct—-0.4%CHAS-0.0%0%
202608nonmarketable_limit<$250 • FRACTreal_sprd_1m—-0.0853CHAS0.00430%
202608nonmarketable_limit<$250 • FRACTreal_sprd_1m_pct—-0.4%CHAS0.0%0%
202608nonmarketable_limit<$250 • FRACTspeed_1s—0.9594CHAS0.35490%
202608nonmarketable_limit<$250 • ODDfill_rate—100.0%DWFT2.4%0%
202608nonmarketable_limit<$250 • ODDpi_rate—100.0%ALTR100.0%0%
202608nonmarketable_limit<$250 • ODDnpi_bps—301.8 bpsTTSI23.6 bps0%
202608nonmarketable_limit<$250 • ODDefq_pct—-166.7%CSTI13.6%0%
202608nonmarketable_limit<$250 • ODDeff_sprd—-0.1000CSTI0.01910%
202608nonmarketable_limit<$250 • ODDeff_sprd_pct—-1.3%CSTI0.1%0%
202608nonmarketable_limit<$250 • ODDreal_sprd_15s—-151.3148EDGK0.00210%
202608nonmarketable_limit<$250 • ODDreal_sprd_15s_pct—-13.2%EDGK0.0%0%
202608nonmarketable_limit<$250 • ODDreal_sprd_1m—-127.5693EDGK0.00200%
202608nonmarketable_limit<$250 • ODDreal_sprd_1m_pct—-4.4%EDGK0.0%0%
202608nonmarketable_limit<$250 • ODDspeed_1s—1.0000CODX0.53630%
202608nonmarketable_limit<$250 • ROUNDfill_rate—100.0%DWFT1.1%0%
202608nonmarketable_limit<$250 • ROUNDpi_rate—100.0%ARCX100.0%0%
202608nonmarketable_limit<$250 • ROUNDnpi_bps—354.7 bpsEDGJ60.1 bps0%
202608nonmarketable_limit<$250 • ROUNDefq_pct—-0.8%XSTM25.1%0%
202608nonmarketable_limit<$250 • ROUNDeff_sprd—-0.0001XSTM0.00190%
202608nonmarketable_limit<$250 • ROUNDeff_sprd_pct—-0.0%XSTM0.5%0%
202608nonmarketable_limit<$250 • ROUNDreal_sprd_15s—-267.2102EDGK0.00060%
202608nonmarketable_limit<$250 • ROUNDreal_sprd_15s_pct—-8.7%EDGK-0.0%0%
202608nonmarketable_limit<$250 • ROUNDreal_sprd_1m—-209.0444EDGK0.00070%
202608nonmarketable_limit<$250 • ROUNDreal_sprd_1m_pct—-4.7%EDGK0.0%0%
202608nonmarketable_limit<$250 • ROUNDspeed_1s—1.0000CODX0.62750%
202608nonmarketable_limit$250–$999 • ODDfill_rate—100.0%DWFT1.6%0%
202608nonmarketable_limit$250–$999 • ODDpi_rate—100.0%AEFA100.0%0%
202608nonmarketable_limit$250–$999 • ODDnpi_bps—148.5 bpsBYXX16.4 bps0%
202608nonmarketable_limit$250–$999 • ODDefq_pct—-19.3%GTSM16.4%0%
202608nonmarketable_limit$250–$999 • ODDeff_sprd—-0.0233INTL0.02890%
202608nonmarketable_limit$250–$999 • ODDeff_sprd_pct—-0.2%INTL0.1%0%
202608nonmarketable_limit$250–$999 • ODDreal_sprd_15s—-19.3130EDGK0.00220%
202608nonmarketable_limit$250–$999 • ODDreal_sprd_15s_pct—-4.9%EDGK0.0%0%
202608nonmarketable_limit$250–$999 • ODDreal_sprd_1m—-17.4509EDGK0.00360%
202608nonmarketable_limit$250–$999 • ODDreal_sprd_1m_pct—-3.0%EDGK0.0%0%
202608nonmarketable_limit$250–$999 • ODDspeed_1s—1.0000CODX0.56220%
202608nonmarketable_limit$250–$999 • ROUNDfill_rate—100.0%DWFT1.2%0%
202608nonmarketable_limit$250–$999 • ROUNDpi_rate—100.0%AVNU100.0%0%
202608nonmarketable_limit$250–$999 • ROUNDnpi_bps—281.5 bpsFORS49.2 bps0%
202608nonmarketable_limit$250–$999 • ROUNDefq_pct—-38.2%CHAS21.7%0%
202608nonmarketable_limit$250–$999 • ROUNDeff_sprd—-0.0088CHAS0.00380%
202608nonmarketable_limit$250–$999 • ROUNDeff_sprd_pct—-0.1%MSCO0.3%0%
202608nonmarketable_limit$250–$999 • ROUNDreal_sprd_15s—-135.3619EDGK0.00180%
202608nonmarketable_limit$250–$999 • ROUNDreal_sprd_15s_pct—-10.8%EDGK0.1%0%
202608nonmarketable_limit$250–$999 • ROUNDreal_sprd_1m—-152.6260EDGK0.00200%
202608nonmarketable_limit$250–$999 • ROUNDreal_sprd_1m_pct—-7.5%EDGK0.1%0%
202608nonmarketable_limit$250–$999 • ROUNDspeed_1s—1.0000CODX0.59290%
202608nonmarketable_limit$1k–$5k • ODDfill_rate—100.0%DWFT1.4%0%
202608nonmarketable_limit$1k–$5k • ODDpi_rate—100.0%AEFA100.0%0%
202608nonmarketable_limit$1k–$5k • ODDnpi_bps—125.3 bpsBYXX12.0 bps0%
202608nonmarketable_limit$1k–$5k • ODDefq_pct—-2.9%TLQNA20.9%0%
202608nonmarketable_limit$1k–$5k • ODDeff_sprd—-0.0004XSTM0.04790%
202608nonmarketable_limit$1k–$5k • ODDeff_sprd_pct—-0.0%GTSM0.1%0%
202608nonmarketable_limit$1k–$5k • ODDreal_sprd_15s—-9.4038EDGK0.00920%
202608nonmarketable_limit$1k–$5k • ODDreal_sprd_15s_pct—-1.2%EDGK0.0%0%
202608nonmarketable_limit$1k–$5k • ODDreal_sprd_1m—-9.1944EDGK0.01070%
202608nonmarketable_limit$1k–$5k • ODDreal_sprd_1m_pct—-1.0%EDGK0.0%0%
202608nonmarketable_limit$1k–$5k • ODDspeed_1s—1.0000CODX0.57270%
202608nonmarketable_limit$1k–$5k • ROUNDfill_rate—100.0%DWFT0.6%0%
202608nonmarketable_limit$1k–$5k • ROUNDpi_rate—100.0%AEFA100.0%0%
202608nonmarketable_limit$1k–$5k • ROUNDnpi_bps—215.8 bpsSOFI25.5 bps0%
202608nonmarketable_limit$1k–$5k • ROUNDefq_pct—-33789.0%TLQNA18.8%0%
202608nonmarketable_limit$1k–$5k • ROUNDeff_sprd—-0.0364TLQNA0.00820%
202608nonmarketable_limit$1k–$5k • ROUNDeff_sprd_pct—-0.2%TLQNA0.1%0%
202608nonmarketable_limit$1k–$5k • ROUNDreal_sprd_15s—-122.9636EDGK0.00370%
202608nonmarketable_limit$1k–$5k • ROUNDreal_sprd_15s_pct—-6.8%EDGK0.0%0%
202608nonmarketable_limit$1k–$5k • ROUNDreal_sprd_1m—-147.4863EDGK0.00460%
202608nonmarketable_limit$1k–$5k • ROUNDreal_sprd_1m_pct—-4.2%EDGJ0.1%0%
202608nonmarketable_limit$1k–$5k • ROUNDspeed_1s—1.0000DWFT0.45560%
202608nonmarketable_limit$5k–$10k • ODDfill_rate—100.0%DWFT1.8%0%
202608nonmarketable_limit$5k–$10k • ODDpi_rate—100.0%AEFA100.0%0%
202608nonmarketable_limit$5k–$10k • ODDnpi_bps—117.9 bpsBYXX9.4 bps0%
202608nonmarketable_limit$5k–$10k • ODDefq_pct—-7.4%CHAS24.9%0%
202608nonmarketable_limit$5k–$10k • ODDeff_sprd—-0.0763JPBD0.08210%
202608nonmarketable_limit$5k–$10k • ODDeff_sprd_pct—-0.0%INTL0.0%0%
202608nonmarketable_limit$5k–$10k • ODDreal_sprd_15s—-0.4067BYXX0.02090%
202608nonmarketable_limit$5k–$10k • ODDreal_sprd_15s_pct—-0.4%EDGK0.0%0%
202608nonmarketable_limit$5k–$10k • ODDreal_sprd_1m—-1.9196EDGK0.02080%
202608nonmarketable_limit$5k–$10k • ODDreal_sprd_1m_pct—-0.4%EDGK0.0%0%
202608nonmarketable_limit$5k–$10k • ODDspeed_1s—1.0000CODX0.70560%
202608nonmarketable_limit$5k–$10k • ROUNDfill_rate—100.0%DWFT0.4%0%
202608nonmarketable_limit$5k–$10k • ROUNDpi_rate—100.0%AEFA100.0%0%
202608nonmarketable_limit$5k–$10k • ROUNDnpi_bps—105.2 bpsBYXX16.4 bps0%
202608nonmarketable_limit$5k–$10k • ROUNDefq_pct—-19.3%JPBD17.4%0%
202608nonmarketable_limit$5k–$10k • ROUNDeff_sprd—-0.0994JPBD0.01680%
202608nonmarketable_limit$5k–$10k • ROUNDeff_sprd_pct—-1.4%JPBD0.1%0%
202608nonmarketable_limit$5k–$10k • ROUNDreal_sprd_15s—-0.0931BATS0.00440%
202608nonmarketable_limit$5k–$10k • ROUNDreal_sprd_15s_pct—-2.9%EDGK0.0%0%
202608nonmarketable_limit$5k–$10k • ROUNDreal_sprd_1m—-0.0964XGWD0.00640%
202608nonmarketable_limit$5k–$10k • ROUNDreal_sprd_1m_pct—-4.3%EDGK0.0%0%
202608nonmarketable_limit$5k–$10k • ROUNDspeed_1s—1.0000CODX0.39370%
202608nonmarketable_limit$10k–$20k • ODDfill_rate—100.0%DWFT1.9%0%
202608nonmarketable_limit$10k–$20k • ODDpi_rate—100.0%AEFA100.0%0%
202608nonmarketable_limit$10k–$20k • ODDnpi_bps—129.5 bpsBYXX9.8 bps0%
202608nonmarketable_limit$10k–$20k • ODDefq_pct—-0.0%XSTM24.7%0%
202608nonmarketable_limit$10k–$20k • ODDeff_sprd—0.0000SBSH0.13580%
202608nonmarketable_limit$10k–$20k • ODDeff_sprd_pct—0.0%SBSH0.1%0%
202608nonmarketable_limit$10k–$20k • ODDreal_sprd_15s—-0.9500SOHS0.03930%
202608nonmarketable_limit$10k–$20k • ODDreal_sprd_15s_pct—-0.5%SOHS0.0%0%
202608nonmarketable_limit$10k–$20k • ODDreal_sprd_1m—-3.5300SOHS0.04590%
202608nonmarketable_limit$10k–$20k • ODDreal_sprd_1m_pct—-1.9%SOHS0.0%0%
202608nonmarketable_limit$10k–$20k • ODDspeed_1s—1.0000CODX0.77320%
202608nonmarketable_limit$10k–$20k • ROUNDfill_rate—100.0%DWFT0.4%0%
202608nonmarketable_limit$10k–$20k • ROUNDpi_rate—100.0%AEFA100.0%0%
202608nonmarketable_limit$10k–$20k • ROUNDnpi_bps—105.2 bpsBYXX13.4 bps0%
202608nonmarketable_limit$10k–$20k • ROUNDefq_pct—-18.5%INTL19.5%0%
202608nonmarketable_limit$10k–$20k • ROUNDeff_sprd—-0.0097JPBD0.02560%
202608nonmarketable_limit$10k–$20k • ROUNDeff_sprd_pct—-0.1%JPBD0.1%0%
202608nonmarketable_limit$10k–$20k • ROUNDreal_sprd_15s—-0.1821BATS0.00510%
202608nonmarketable_limit$10k–$20k • ROUNDreal_sprd_15s_pct—-1.4%WEDB0.0%0%
202608nonmarketable_limit$10k–$20k • ROUNDreal_sprd_1m—-0.1470BATS0.00790%
202608nonmarketable_limit$10k–$20k • ROUNDreal_sprd_1m_pct—-2.8%EDGK0.0%0%
202608nonmarketable_limit$10k–$20k • ROUNDspeed_1s—1.0000CODX0.40240%
202608nonmarketable_limit$20k–$50k • ODDfill_rate—26.3%ETMM1.1%0%
202608nonmarketable_limit$20k–$50k • ODDpi_rate—100.0%ALPX100.0%0%
202608nonmarketable_limit$20k–$50k • ODDnpi_bps—137.5 bpsEDGJ11.9 bps0%
202608nonmarketable_limit$20k–$50k • ODDefq_pct—-12.9%INTL27.4%0%
202608nonmarketable_limit$20k–$50k • ODDeff_sprd—-0.0032INTL0.27810%
202608nonmarketable_limit$20k–$50k • ODDeff_sprd_pct—-0.0%INTL0.1%0%
202608nonmarketable_limit$20k–$50k • ODDreal_sprd_15s—-0.8457BATS0.03740%
202608nonmarketable_limit$20k–$50k • ODDreal_sprd_15s_pct—-0.4%BYXX0.0%0%
202608nonmarketable_limit$20k–$50k • ODDreal_sprd_1m—-21.9453EDGK0.03840%
202608nonmarketable_limit$20k–$50k • ODDreal_sprd_1m_pct—-0.7%EDGK0.0%0%
202608nonmarketable_limit$20k–$50k • ODDspeed_1s—1.0000ALPX0.84900%
202608nonmarketable_limit$20k–$50k • ROUNDfill_rate—100.0%DWFT0.3%0%
202608nonmarketable_limit$20k–$50k • ROUNDpi_rate—100.0%AEFA100.0%0%
202608nonmarketable_limit$20k–$50k • ROUNDnpi_bps—96.0 bpsEDGJ9.6 bps0%
202608nonmarketable_limit$20k–$50k • ROUNDefq_pct—-180.5%TLQNA22.5%0%
202608nonmarketable_limit$20k–$50k • ROUNDeff_sprd—-0.0008MOAT0.04430%
202608nonmarketable_limit$20k–$50k • ROUNDeff_sprd_pct—-0.1%JPBD0.1%0%
202608nonmarketable_limit$20k–$50k • ROUNDreal_sprd_15s—-20.6051EDGK0.00730%
202608nonmarketable_limit$20k–$50k • ROUNDreal_sprd_15s_pct—-1.6%EDGK0.0%0%
202608nonmarketable_limit$20k–$50k • ROUNDreal_sprd_1m—-23.5172EDGK0.00910%
202608nonmarketable_limit$20k–$50k • ROUNDreal_sprd_1m_pct—-1.7%EDGK0.0%0%
202608nonmarketable_limit$20k–$50k • ROUNDspeed_1s—1.0000CODX0.35300%
202608nonmarketable_limit$50k–$200k • ROUNDfill_rate—100.0%DWFT0.2%0%
202608nonmarketable_limit$50k–$200k • ROUNDpi_rate—100.0%AEFA100.0%0%
202608nonmarketable_limit$50k–$200k • ROUNDnpi_bps—78.7 bpsEDGJ8.7 bps0%
202608nonmarketable_limit$50k–$200k • ROUNDefq_pct—-29.8%TLQNA25.2%0%
202608nonmarketable_limit$50k–$200k • ROUNDeff_sprd—-0.0567TLQNA0.03700%
202608nonmarketable_limit$50k–$200k • ROUNDeff_sprd_pct—-0.0%CHAS0.1%0%
202608nonmarketable_limit$50k–$200k • ROUNDreal_sprd_15s—-0.8650MOAT0.00820%
202608nonmarketable_limit$50k–$200k • ROUNDreal_sprd_15s_pct—-1.2%EDGK0.0%0%
202608nonmarketable_limit$50k–$200k • ROUNDreal_sprd_1m—-0.9667MOAT0.00960%
202608nonmarketable_limit$50k–$200k • ROUNDreal_sprd_1m_pct—-1.3%EDGK0.0%0%
202608nonmarketable_limit$50k–$200k • ROUNDspeed_1s—1.0000CODX0.37590%
202608nonmarketable_limit≥$200k • ROUNDfill_rate—96.1%OLDM0.2%0%
202608nonmarketable_limit≥$200k • ROUNDpi_rate—100.0%AEFA100.0%0%
202608nonmarketable_limit≥$200k • ROUNDnpi_bps—67.0 bpsBATS6.6 bps0%
202608nonmarketable_limit≥$200k • ROUNDefq_pct—-81.5%TLQNA23.6%0%
202608nonmarketable_limit≥$200k • ROUNDeff_sprd—-0.0308TLQNA0.04090%
202608nonmarketable_limit≥$200k • ROUNDeff_sprd_pct—-0.0%MSRP0.0%0%
202608nonmarketable_limit≥$200k • ROUNDreal_sprd_15s—-0.1428EDGJ0.00880%
202608nonmarketable_limit≥$200k • ROUNDreal_sprd_15s_pct—-1.4%EDGK0.0%0%
202608nonmarketable_limit≥$200k • ROUNDreal_sprd_1m—-0.1391STFX0.00460%
202608nonmarketable_limit≥$200k • ROUNDreal_sprd_1m_pct—-1.3%EDGK-0.0%0%
202608nonmarketable_limit≥$200k • ROUNDspeed_1s—1.0000CODX0.32430%

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.

Download CSV ↓
MonthVenueOrder ClassRoute %606 Net PFOF (¢/100)NPI (bps)Peer Bench (bps)Delta (bps)Ref PriceDelta (¢/100 sh)Conflict Flag
202608Cboe BYX Exchange, Inc.market0.0%0.00 ¢—————No conflict
202608Cboe BYX Exchange, Inc.marketable_limit0.0%0.00 ¢—————No conflict
202608Cboe BYX Exchange, Inc.nonmarketable_limit0.0%0.00 ¢—————No conflict
202608Intelligentcrossmarket0.0%0.00 ¢—————No conflict
202608Intelligentcrossmarketable_limit89.2%-19.47 ¢—————No conflict
202608Intelligentcrossnonmarketable_limit0.0%0.00 ¢—————No conflict
202608Cboe BYX Exchange, Inc.market0.0%0.00 ¢—————No conflict
202608Cboe BYX Exchange, Inc.marketable_limit0.0%0.00 ¢—————No conflict
202608Cboe BYX Exchange, Inc.nonmarketable_limit0.0%0.00 ¢—————No conflict
202608Intelligentcrossmarket0.0%0.00 ¢—————No conflict
202608Intelligentcrossmarketable_limit76.4%3.50 ¢—————No conflict
202608Intelligentcrossnonmarketable_limit0.0%0.00 ¢—————No conflict
202608NYSE Arca, Inc.market0.0%0.00 ¢—————No conflict
202608NYSE Arca, Inc.marketable_limit18.7%-35.90 ¢—————No conflict
202608NYSE Arca, Inc.nonmarketable_limit58.8%24.07 ¢—————No conflict
202608Virtu VEQmarket0.0%0.00 ¢—————No conflict
202608Virtu VEQmarketable_limit0.0%0.00 ¢—————No conflict
202608Virtu VEQnonmarketable_limit0.0%0.00 ¢—————No conflict
202608Citadel Securities (CDRG)market0.0%0.00 ¢—————No conflict
202608Citadel Securities (CDRG)marketable_limit0.0%0.00 ¢—————No conflict
202608Citadel Securities (CDRG)nonmarketable_limit0.0%0.00 ¢—————No conflict
202608Hudson River Trading (HRT) (HRTF)market0.0%0.00 ¢3.2 bps2.7 bps0.5 bps$19.829.53 ¢No conflict
202608Hudson River Trading (HRT) (HRTF)marketable_limit0.0%0.00 ¢2.6 bps-3.8 bps6.4 bps$12.7281.22 ¢No conflict
202608Hudson River Trading (HRT) (HRTF)nonmarketable_limit0.0%0.00 ¢13.2 bps42.4 bps-29.2 bps$43.93-1283.28 ¢No conflict
202608Jump Tradingmarket0.0%0.00 ¢—————No conflict
202608Jump Tradingmarketable_limit0.0%0.00 ¢—————No conflict
202608Jump Tradingnonmarketable_limit0.0%0.00 ¢—————No conflict
202608Jane Street Capital (JNST)market0.0%0.00 ¢2.3 bps2.3 bps0.0 bps$24.240.33 ¢No conflict
202608Jane Street Capital (JNST)marketable_limit0.0%0.00 ¢1.6 bps-9.4 bps10.9 bps$8.3991.85 ¢No conflict
202608Jane Street Capital (JNST)nonmarketable_limit0.0%0.00 ¢11.5 bps34.8 bps-23.3 bps$28.43-661.41 ¢No conflict
202608Level ATSmarket0.0%0.00 ¢—————No conflict
202608Level ATSmarketable_limit0.0%0.00 ¢—————No conflict
202608Level ATSnonmarketable_limit0.0%0.00 ¢—————No conflict
202608Comhar Capital Markets, LLC - Us Equitiesmarket0.0%0.00 ¢—————No conflict
202608Comhar Capital Markets, LLC - Us Equitiesmarketable_limit0.0%0.00 ¢—————No conflict
202608Comhar Capital Markets, LLC - Us Equitiesnonmarketable_limit0.0%0.00 ¢—————No conflict

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.

Download CSV ↓
SectionVenueType of ChangeOrder ClassPrior ValueCurrent ValueNet Shift
sp500Cboe BYX Exchange, Inc.route_share—22.21 ¢59.44 ¢37.23 ¢
sp500Cboe BYX Exchange, Inc.pfof_ratemarketable_limit-1.25 ¢0.00 ¢1.25 ¢
sp500Cboe BYX Exchange, Inc.pfof_ratenon_marketable_limit-2.10 ¢0.00 ¢2.10 ¢
sp500Cboe BYX Exchange, Inc.pfof_rateother7.32 ¢-24.59 ¢-31.91 ¢
sp500Cboe EDGX Exchange, Inc.dropped—3.09 ¢——
sp500Citadel Securitiesdropped—4.21 ¢——
sp500CODA MARKETS INCdropped—6.27 ¢——
sp500Comhar Capital Markets, LLC - Us Equitiesdropped—18.55 ¢——
sp500Intelligentcrossroute_share—5.86 ¢29.29 ¢23.43 ¢
sp500Intelligentcrosspfof_ratemarketable_limit4.06 ¢-13.63 ¢-17.69 ¢
sp500Intelligentcrosspfof_rateother4.03 ¢-23.42 ¢-27.45 ¢
sp500Jump Tradingpfof_ratemarket-2.98 ¢0.00 ¢2.98 ¢
sp500Jump Tradingpfof_ratemarketable_limit-1.64 ¢0.00 ¢1.64 ¢
sp500Jump Tradingpfof_rateother9.01 ¢-3.89 ¢-12.90 ¢
sp500Level ATSdropped—3.01 ¢——
sp500NYSE Arca, Inc.dropped—15.54 ¢——
sp500The Nasdaq Stock Market LLCdropped—7.33 ¢——
sp500Virtu VEQdropped—1.14 ¢——
other_stocksCboe BYX Exchange, Inc.route_share—16.61 ¢40.28 ¢23.67 ¢
other_stocksCboe BYX Exchange, Inc.pfof_ratemarketable_limit3.37 ¢0.00 ¢-3.37 ¢
other_stocksCboe BYX Exchange, Inc.pfof_ratenon_marketable_limit6.75 ¢0.00 ¢-6.75 ¢
other_stocksCboe BYX Exchange, Inc.pfof_rateother3.53 ¢1.93 ¢-1.60 ¢
other_stocksCboe EDGX Exchange, Inc.dropped—4.07 ¢——
other_stocksCitadel Securitiespfof_rateother4.68 ¢6.25 ¢1.57 ¢
other_stocksCODA MARKETS INCdropped—3.14 ¢——
other_stocksComhar Capital Markets, LLC - Us Equitiesroute_share—10.83 ¢1.59 ¢-9.23 ¢
other_stocksComhar Capital Markets, LLC - Us Equitiespfof_ratemarket-2.26 ¢0.00 ¢2.26 ¢
other_stocksComhar Capital Markets, LLC - Us Equitiespfof_ratemarketable_limit-2.02 ¢0.00 ¢2.02 ¢
other_stocksComhar Capital Markets, LLC - Us Equitiespfof_ratenon_marketable_limit-2.33 ¢0.00 ¢2.33 ¢
other_stocksComhar Capital Markets, LLC - Us Equitiespfof_rateother8.96 ¢8.75 ¢-0.21 ¢
other_stocksHudson River Trading (HRT)pfof_rateother5.16 ¢6.28 ¢1.12 ¢
other_stocksInstinet, LLCdropped—0.55 ¢——
other_stocksIntelligentcrossroute_share—4.99 ¢20.60 ¢15.62 ¢
other_stocksIntelligentcrosspfof_ratemarketable_limit4.19 ¢3.55 ¢-0.63 ¢
other_stocksIntelligentcrosspfof_rateother2.00 ¢-1.64 ¢-3.64 ¢
other_stocksJane Street Capitalpfof_rateother9.01 ¢8.98 ¢-0.04 ¢
other_stocksJump Tradingpfof_ratemarket3.38 ¢0.00 ¢-3.38 ¢
other_stocksJump Tradingpfof_ratemarketable_limit2.12 ¢0.00 ¢-2.12 ¢
other_stocksJump Tradingpfof_ratenon_marketable_limit3.71 ¢0.00 ¢-3.71 ¢
other_stocksJump Tradingpfof_rateother4.65 ¢7.09 ¢2.44 ¢
other_stocksLevel ATSpfof_rateother9.09 ¢8.48 ¢-0.62 ¢
other_stocksNYSE Arca, Inc.route_share—15.48 ¢4.17 ¢-11.31 ¢
other_stocksNYSE Arca, Inc.pfof_ratemarket-1.00 ¢0.00 ¢1.00 ¢
other_stocksNYSE Arca, Inc.pfof_ratemarketable_limit-13.49 ¢-34.13 ¢-20.64 ¢
other_stocksNYSE Arca, Inc.pfof_ratenon_marketable_limit-2.83 ¢23.82 ¢26.65 ¢
other_stocksNYSE Arca, Inc.pfof_rateother-16.17 ¢-37.95 ¢-21.78 ¢
other_stocksSageTrader, LLCpfof_rateother9.00 ¢8.62 ¢-0.38 ¢
other_stocksThe Nasdaq Stock Market LLCdropped—7.59 ¢——
other_stocksVirtu VEQpfof_rateother7.81 ¢8.52 ¢0.72 ¢
optionsDash/IMC Financial Marketspfof_ratemarket38.55 ¢38.23 ¢-0.33 ¢
optionsDash/IMC Financial Marketspfof_ratemarketable_limit38.96 ¢39.84 ¢0.88 ¢
optionsDash/IMC Financial Marketspfof_ratenon_marketable_limit37.40 ¢42.47 ¢5.07 ¢
optionsDash/IMC Financial Marketspfof_rateother39.28 ¢40.07 ¢0.79 ¢

6. Coverage, Exclusions & Standing Limitations

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

Suppressed Cells
11
Cells with < 100 covered orders
Unmapped Venues
8
606 destinations without 605 match
Challenged / Missing 605
1
Venues missing monthly 605 report

Unmapped Routing Destinations:

Cboe BYX Exchange, Inc. (name:CBOE BYX EXCHANGE), Comhar Capital Markets, LLC - Us Equities (name:COMHAR CAPITAL MARKETS LLC - US EQUITIES), Intelligentcross (name:INTELLIGENTCROSS), Jump Trading (name:JUMP TRADING), Level ATS (name:LEVEL ATS), NYSE Arca, Inc. (name:NYSE ARCA), SageTrader, LLC (name:SAGETRADER), Virtu VEQ (name:VIRTU VEQ)

Unretrievable 605 File Hosts:

  • (CDRG):host_challenge

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.