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2026Q2 2026Q1

CRD #291361 Review Period: 2026Q2 Filing: Direct 606 filer

ROCKEFELLER FINANCIAL LLC (CRD #291361) — Quarterly Rule 606 vs. Amended Rule 605 Competing Market Review

Name: ROCKEFELLER FINANCIAL LLC (CRD #291361) 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. CITADEL SECURITIES LLC(241.0%)

2. Virtu Americas, LLC(127.0%)

3. Jane Street Capital(124.5%)

Top routed order shares

Disclosed PFOF / Rebates

$0.00

Non-directed retail equity flow

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

ROCKEFELLER FINANCIAL LLC

CRD Number: 291361 • Quarter: 2026Q2 • Generated: Wed, 14 Oct 2026 20:19:48 GMT

Methodology: exq-2

Status: CLOSED QUARTER

Resolved Rule 606 Source Filings

Author / Clearing Firm	CRD	Variant / Context	Version	SHA-256 Digest	Source Document
ROCK	291361	ROCK	V1	926c008f1a6e03df81354982742497b3eced6a8e41b2b9e95c3ef6cb5039aec4	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 %
202604	options	CITADEL SECURITIES LLC	CDRG	29.1%	41.9%	36.2%	32.7%
202604	options	FDLM	Unmapped	19.2%	0.0%	0.0%	0.0%
202604	options	Jane Street Capital	JNST	16.0%	22.5%	24.0%	18.2%
202604	options	Dash/IMC Financial Markets	Unmapped	12.7%	16.7%	16.6%	15.7%
202604	options	Global Execution Brokers LP	Unmapped	10.4%	15.8%	16.6%	10.5%
202604	options	Wolverine Execution Services, LLC	Unmapped	9.6%	3.1%	6.6%	23.0%
202604	options	Interactive Brokers LLC	Unmapped	3.1%	0.0%	0.0%	0.0%
202604	other_stocks	CITADEL SECURITIES LLC	CDRG	21.2%	21.6%	15.5%	2.7%
202604	other_stocks	Virtu Americas, LLC	NITE	21.0%	21.4%	14.8%	3.8%
202604	other_stocks	G1 Execution Services, LLC	ETMM	19.4%	19.8%	15.0%	3.4%
202604	other_stocks	Jane Street Capital	JNST	19.3%	19.7%	16.5%	2.1%
202604	other_stocks	Hudson River Trading (HRT)	HRTF	7.8%	7.9%	5.3%	1.5%
202604	other_stocks	Goldman, Sachs & Co.	Unmapped	3.5%	3.5%	1.4%	0.5%
202604	other_stocks	UBS Securities, LLC	Unmapped	2.3%	2.3%	2.6%	1.0%
202604	other_stocks	Two Sigma Securities, LLC	Unmapped	1.5%	1.6%	1.7%	0.2%
202604	other_stocks	Instinet, LLC	Unmapped	1.2%	1.1%	23.4%	0.0%
202604	other_stocks	GTS SECURITIES LLC	Unmapped	1.0%	1.0%	1.2%	0.2%
202604	sp500	Virtu Americas, LLC	NITE	21.9%	22.2%	21.5%	6.2%
202604	sp500	CITADEL SECURITIES LLC	CDRG	21.6%	22.0%	20.5%	5.1%
202604	sp500	Jane Street Capital	JNST	19.7%	20.1%	10.2%	4.0%
202604	sp500	G1 Execution Services, LLC	ETMM	19.1%	19.4%	14.6%	4.6%
202604	sp500	Hudson River Trading (HRT)	HRTF	7.8%	7.9%	4.9%	1.6%
202604	sp500	Goldman, Sachs & Co.	Unmapped	3.3%	3.4%	3.4%	0.5%
202604	sp500	UBS Securities, LLC	Unmapped	2.4%	2.3%	12.7%	3.7%
202604	sp500	Two Sigma Securities, LLC	Unmapped	1.5%	1.5%	1.0%	0.3%
202604	sp500	GTS SECURITIES LLC	Unmapped	0.9%	0.9%	1.0%	0.3%
202604	sp500	Nasdaq OMX	Unmapped	0.8%	0.0%	3.9%	41.5%
202605	options	FDLM	Unmapped	29.6%	0.0%	0.0%	0.0%
202605	options	CITADEL SECURITIES LLC	CDRG	24.8%	39.7%	37.3%	33.5%
202605	options	Dash/IMC Financial Markets	Unmapped	13.5%	19.7%	21.2%	19.8%
202605	options	Jane Street Capital	JNST	13.0%	24.0%	18.2%	17.0%
202605	options	Global Execution Brokers LP	Unmapped	8.2%	13.0%	13.6%	11.0%
202605	options	Wolverine Execution Services, LLC	Unmapped	7.9%	3.6%	9.7%	18.7%
202605	options	Interactive Brokers LLC	Unmapped	3.1%	0.0%	0.0%	0.0%
202605	other_stocks	CITADEL SECURITIES LLC	CDRG	27.7%	28.3%	22.3%	3.5%
202605	other_stocks	G1 Execution Services, LLC	ETMM	21.8%	22.3%	13.9%	3.1%
202605	other_stocks	Virtu Americas, LLC	NITE	21.4%	21.8%	13.7%	3.6%
202605	other_stocks	Jane Street Capital	JNST	11.1%	11.3%	9.1%	1.8%
202605	other_stocks	Hudson River Trading (HRT)	HRTF	7.7%	7.8%	5.8%	0.7%
202605	other_stocks	Goldman, Sachs & Co.	Unmapped	3.3%	3.3%	4.2%	0.4%
202605	other_stocks	Two Sigma Securities, LLC	Unmapped	2.3%	2.3%	1.4%	0.1%
202605	other_stocks	Instinet, LLC	Unmapped	1.3%	1.1%	22.5%	0.0%
202605	other_stocks	UBS Securities, LLC	Unmapped	0.9%	0.9%	3.0%	0.7%
202605	other_stocks	Nasdaq OMX	Unmapped	0.7%	0.0%	1.4%	30.1%
202605	sp500	CITADEL SECURITIES LLC	CDRG	28.2%	29.0%	20.6%	4.2%
202605	sp500	Virtu Americas, LLC	NITE	21.8%	22.3%	17.5%	4.0%
202605	sp500	G1 Execution Services, LLC	ETMM	21.7%	22.3%	18.6%	2.8%
202605	sp500	Jane Street Capital	JNST	10.9%	11.2%	9.8%	2.1%
202605	sp500	Hudson River Trading (HRT)	HRTF	7.7%	7.9%	4.6%	1.5%
202605	sp500	Goldman, Sachs & Co.	Unmapped	3.3%	3.4%	2.6%	0.7%
202605	sp500	Two Sigma Securities, LLC	Unmapped	2.4%	2.5%	2.6%	0.2%
202605	sp500	Nasdaq OMX	Unmapped	1.3%	0.0%	3.6%	43.1%
202605	sp500	New York Stock Exchange LLC	Unmapped	0.9%	0.0%	1.6%	29.6%
202605	sp500	UBS Securities, LLC	Unmapped	0.8%	0.7%	12.4%	1.9%
202606	options	CITADEL SECURITIES LLC	CDRG	24.4%	37.8%	27.7%	30.8%
202606	options	FDLM	Unmapped	23.9%	0.0%	0.0%	0.0%
202606	options	Dash/IMC Financial Markets	Unmapped	18.1%	23.7%	26.5%	24.4%
202606	options	Jane Street Capital	JNST	13.8%	22.1%	24.9%	15.9%
202606	options	Global Execution Brokers LP	Unmapped	9.1%	14.3%	14.3%	11.0%
202606	options	Wolverine Execution Services, LLC	Unmapped	8.4%	2.1%	6.7%	17.9%
202606	options	Interactive Brokers LLC	Unmapped	2.3%	0.0%	0.0%	0.0%
202606	other_stocks	CITADEL SECURITIES LLC	CDRG	31.9%	32.7%	22.8%	11.9%
202606	other_stocks	G1 Execution Services, LLC	ETMM	21.0%	21.5%	17.2%	5.6%
202606	other_stocks	Virtu Americas, LLC	NITE	20.5%	20.9%	16.9%	6.8%
202606	other_stocks	Jane Street Capital	JNST	10.3%	10.6%	9.2%	3.5%
202606	other_stocks	Hudson River Trading (HRT)	HRTF	6.3%	6.4%	5.6%	1.9%
202606	other_stocks	Goldman, Sachs & Co.	Unmapped	3.6%	3.7%	2.9%	1.0%
202606	other_stocks	Two Sigma Securities, LLC	Unmapped	2.0%	2.0%	1.5%	0.5%
202606	other_stocks	Instinet, LLC	Unmapped	1.0%	0.9%	18.4%	0.0%
202606	other_stocks	Nasdaq OMX	Unmapped	0.8%	0.0%	2.1%	25.4%
202606	other_stocks	UBS Securities, LLC	Unmapped	0.8%	0.8%	1.5%	0.5%
202606	sp500	CITADEL SECURITIES LLC	CDRG	32.1%	32.9%	25.7%	8.1%
202606	sp500	G1 Execution Services, LLC	ETMM	21.4%	22.0%	21.3%	5.1%
202606	sp500	Virtu Americas, LLC	NITE	20.5%	21.0%	17.8%	6.2%
202606	sp500	Jane Street Capital	JNST	10.3%	10.6%	8.4%	2.9%
202606	sp500	Hudson River Trading (HRT)	HRTF	6.2%	6.3%	4.0%	1.3%
202606	sp500	Goldman, Sachs & Co.	Unmapped	3.6%	3.7%	5.5%	0.8%
202606	sp500	Two Sigma Securities, LLC	Unmapped	2.1%	2.1%	2.0%	0.5%
202606	sp500	New York Stock Exchange LLC	Unmapped	1.1%	0.0%	1.5%	33.5%
202606	sp500	Nasdaq OMX	Unmapped	1.0%	0.0%	1.5%	30.5%
202606	sp500	UBS Securities, LLC	Unmapped	0.6%	0.6%	6.4%	0.7%

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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No material shifts (≥ 5 percentage point route share or PFOF rate change) detected relative to 2026Q1.

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:

Goldman, Sachs & Co. (name:GOLDMAN SACHS), GTS SECURITIES LLC (name:GTS SECURITIES), Instinet, LLC (name:INSTINET), Nasdaq OMX (name:NASDAQ OMX), New York Stock Exchange LLC (name:NEW YORK STOCK EXCHANGE), Two Sigma Securities, LLC (name:TWO SIGMA SECURITIES), UBS Securities, LLC (name:UBS SECURITIES)

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.