Print to PDF: browser Print (Ctrl+P / Cmd+P)

Select Quarter:

2026Q2 2026Q1

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): RBC CAPITAL MARKETS, LLC. Every underlying execution venue and clearing context is evaluated below.

CRD #35878 Review Period: 2026Q1 Filing: Adopts clearing firm report

SPROTT GLOBAL RESOURCE INVESTMENTS LTD (CRD #35878) — Quarterly Rule 606 vs. Amended Rule 605 Competing Market Review

Name: SPROTT GLOBAL RESOURCE INVESTMENTS LTD (CRD #35878) 2026Q1 Execution Quality Benchmark
Creator: Execution Reports
License: https://executionreports.com/methodology

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

Open Review Workspace → Request committee preview

Primary Routed Venues (606)

1. Wolverine Execution Services, LLC(433.7%)

2. CITADEL SECURITIES LLC(412.3%)

3. Citadel Securities(238.1%)

Top routed order shares

Disclosed PFOF / Rebates

Clears via RBC CAPITAL MARKETS, LLC • Subject to 5310.09(c) supervision

Clearing firm adoption

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.

Open in Workspace to Dispose →

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

FINRA Rule 5310.09 Review Packet

SPROTT GLOBAL RESOURCE INVESTMENTS LTD

CRD Number: 35878 • Quarter: 2026Q1 • Generated: Wed, 14 Oct 2026 20:20:42 GMT

Methodology: exq-2

Status: CLOSED QUARTER

Resolved Rule 606 Source Filings

Author / Clearing Firm	CRD	Variant / Context	Version	SHA-256 Digest	Source Document
RBC Clearing & Custody(Clearing: RBC CAPITAL MARKETS, LLC)	31194	RBCCLEARINGCUSTODY	V1	23fd69aec48f69009fe0f491f39c10b046b685b6691dbcb8d96b357d7f0b51d2	Download XML ↗
RBC Wealth Management(Clearing: RBC CAPITAL MARKETS, LLC)	31194	RBCWEALTHMANAGEMENT	V1	429b26992d4b171218a90622f0c084994ed20ae2bff3af0b039f8b38fe4b2cd8	Download XML ↗
RBC Capital Markets Corporation(Clearing: RBC CAPITAL MARKETS, LLC)	31194	RBCM	V1	2bb7bbbfb99c23bf76a67b9096003f4c90072b4a5530bf40b23dd914a01dd306	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.

Download CSV ↓

Month	Section	Execution Venue	605 Reporter	Route %	Market %	Mkt Limit %	Non-Mkt %	PFOF Mkt (¢/100)	PFOF Limit (¢/100)
202601	options	Wolverine Execution Services, LLC	Unmapped	73.1%	56.7%	52.8%	57.5%	28.58 ¢	32.25 ¢
202601	options	CITADEL SECURITIES LLC	CDRG	26.3%	43.3%	46.9%	41.9%	12.85 ¢	23.25 ¢
202601	options	Dash/IMC Financial Markets	Unmapped	0.6%	0.0%	0.3%	0.6%	0.00 ¢	0.00 ¢
202601	other_stocks	CITADEL SECURITIES LLC	CDRG	19.4%	19.1%	21.8%	26.5%	0.00 ¢	0.00 ¢
202601	other_stocks	Jane Street Capital	JNST	17.6%	17.9%	13.8%	11.3%	0.00 ¢	0.00 ¢
202601	other_stocks	Virtu Americas, LLC	NITE	14.4%	14.1%	14.7%	18.7%	0.00 ¢	0.00 ¢
202601	other_stocks	Hudson River Trading (HRT)	HRTF	11.9%	12.1%	11.3%	7.8%	0.00 ¢	0.00 ¢
202601	other_stocks	G1 Execution Services, LLC	ETMM	10.7%	10.6%	11.9%	13.4%	0.00 ¢	0.00 ¢
202601	other_stocks	Two Sigma Securities, LLC	Unmapped	10.2%	10.3%	9.6%	7.1%	0.00 ¢	0.00 ¢
202601	other_stocks	UBS Securities, LLC	Unmapped	8.7%	8.6%	7.8%	9.2%	0.00 ¢	0.00 ¢
202601	other_stocks	StoneX Financial, Inc.	Unmapped	7.2%	7.2%	9.1%	6.1%	0.00 ¢	0.00 ¢
202601	sp500	CITADEL SECURITIES LLC	CDRG	21.4%	21.1%	24.4%	30.9%	0.00 ¢	0.00 ¢
202601	sp500	Virtu Americas, LLC	NITE	16.1%	15.9%	21.1%	24.3%	0.00 ¢	0.00 ¢
202601	sp500	Jane Street Capital	JNST	15.6%	15.8%	11.1%	5.8%	0.00 ¢	0.00 ¢
202601	sp500	G1 Execution Services, LLC	ETMM	10.8%	10.6%	11.9%	17.7%	0.00 ¢	0.00 ¢
202601	sp500	UBS Securities, LLC	Unmapped	10.4%	10.4%	12.4%	11.3%	0.00 ¢	0.00 ¢
202601	sp500	Hudson River Trading (HRT)	HRTF	10.3%	10.4%	7.8%	3.9%	0.00 ¢	0.00 ¢
202601	sp500	Two Sigma Securities, LLC	Unmapped	9.3%	9.4%	4.3%	3.1%	0.00 ¢	0.00 ¢
202601	sp500	StoneX Financial, Inc.	Unmapped	6.2%	6.3%	7.0%	3.1%	0.00 ¢	0.00 ¢
202602	options	Wolverine Execution Services, LLC	Unmapped	71.3%	53.9%	51.3%	60.0%	28.91 ¢	27.59 ¢
202602	options	CITADEL SECURITIES LLC	CDRG	27.8%	46.1%	47.8%	39.9%	11.37 ¢	24.62 ¢
202602	options	Dash/IMC Financial Markets	Unmapped	0.9%	0.0%	0.9%	0.1%	0.00 ¢	0.00 ¢
202602	other_stocks	CITADEL SECURITIES LLC	CDRG	21.3%	21.0%	21.7%	26.2%	0.00 ¢	0.00 ¢
202602	other_stocks	Jane Street Capital	JNST	15.6%	15.9%	13.2%	10.4%	0.00 ¢	0.00 ¢
202602	other_stocks	Hudson River Trading (HRT)	HRTF	13.4%	13.7%	10.4%	7.2%	0.00 ¢	0.00 ¢
202602	other_stocks	Virtu Americas, LLC	NITE	12.7%	12.3%	16.6%	19.6%	0.00 ¢	0.00 ¢
202602	other_stocks	G1 Execution Services, LLC	ETMM	10.9%	10.7%	12.3%	14.6%	0.00 ¢	0.00 ¢
202602	other_stocks	Two Sigma Securities, LLC	Unmapped	10.3%	10.4%	9.6%	6.6%	0.00 ¢	0.00 ¢
202602	other_stocks	UBS Securities, LLC	Unmapped	8.7%	8.6%	7.7%	9.0%	0.00 ¢	0.00 ¢
202602	other_stocks	StoneX Financial, Inc.	Unmapped	7.2%	7.3%	8.4%	6.3%	0.00 ¢	0.00 ¢
202602	sp500	CITADEL SECURITIES LLC	CDRG	21.4%	21.1%	25.7%	30.4%	0.00 ¢	0.00 ¢
202602	sp500	Virtu Americas, LLC	NITE	15.8%	15.5%	16.9%	25.1%	0.00 ¢	0.00 ¢
202602	sp500	Jane Street Capital	JNST	15.6%	15.8%	11.9%	6.9%	0.00 ¢	0.00 ¢
202602	sp500	G1 Execution Services, LLC	ETMM	11.1%	10.9%	13.8%	16.1%	0.00 ¢	0.00 ¢
202602	sp500	UBS Securities, LLC	Unmapped	10.4%	10.4%	10.1%	10.9%	0.00 ¢	0.00 ¢
202602	sp500	Hudson River Trading (HRT)	HRTF	10.2%	10.4%	8.1%	4.0%	0.00 ¢	0.00 ¢
202602	sp500	Two Sigma Securities, LLC	Unmapped	9.3%	9.4%	6.3%	3.2%	0.00 ¢	0.00 ¢
202602	sp500	StoneX Financial, Inc.	Unmapped	6.3%	6.4%	7.1%	3.4%	0.00 ¢	0.00 ¢
202603	options	Wolverine Execution Services, LLC	Unmapped	72.5%	51.0%	52.1%	61.9%	31.38 ¢	40.07 ¢
202603	options	CITADEL SECURITIES LLC	CDRG	26.2%	49.0%	46.9%	37.6%	13.60 ¢	32.14 ¢
202603	options	Dash/IMC Financial Markets	Unmapped	1.3%	0.0%	1.0%	0.5%	0.00 ¢	0.00 ¢
202603	other_stocks	CITADEL SECURITIES LLC	CDRG	21.1%	20.9%	21.2%	26.1%	0.00 ¢	0.00 ¢
202603	other_stocks	Jane Street Capital	JNST	15.8%	16.1%	14.7%	10.7%	0.00 ¢	0.00 ¢
202603	other_stocks	Hudson River Trading (HRT)	HRTF	12.9%	13.2%	9.8%	7.6%	0.00 ¢	0.00 ¢
202603	other_stocks	Virtu Americas, LLC	NITE	12.3%	12.0%	15.4%	19.4%	0.00 ¢	0.00 ¢
202603	other_stocks	G1 Execution Services, LLC	ETMM	11.3%	11.0%	13.5%	15.6%	0.00 ¢	0.00 ¢
202603	other_stocks	Two Sigma Securities, LLC	Unmapped	10.9%	11.1%	10.1%	6.8%	0.00 ¢	0.00 ¢
202603	other_stocks	UBS Securities, LLC	Unmapped	8.5%	8.6%	6.7%	7.3%	0.00 ¢	0.00 ¢
202603	other_stocks	StoneX Financial, Inc.	Unmapped	7.2%	7.2%	8.7%	6.4%	0.00 ¢	0.00 ¢
202603	sp500	CITADEL SECURITIES LLC	CDRG	21.3%	21.1%	29.9%	31.1%	0.00 ¢	0.00 ¢
202603	sp500	Jane Street Capital	JNST	15.7%	15.9%	12.2%	6.7%	0.00 ¢	0.00 ¢
202603	sp500	Virtu Americas, LLC	NITE	15.4%	15.2%	16.9%	24.0%	0.00 ¢	0.00 ¢
202603	sp500	G1 Execution Services, LLC	ETMM	11.5%	11.3%	15.6%	17.0%	0.00 ¢	0.00 ¢
202603	sp500	UBS Securities, LLC	Unmapped	10.4%	10.4%	9.7%	10.9%	0.00 ¢	0.00 ¢
202603	sp500	Hudson River Trading (HRT)	HRTF	10.2%	10.4%	5.9%	3.9%	0.00 ¢	0.00 ¢
202603	sp500	Two Sigma Securities, LLC	Unmapped	9.3%	9.5%	4.4%	3.2%	0.00 ¢	0.00 ¢
202603	sp500	StoneX Financial, Inc.	Unmapped	6.2%	6.3%	5.4%	3.3%	0.00 ¢	0.00 ¢
202601	options	Wolverine Execution Services, LLC	Unmapped	73.1%	56.7%	52.8%	57.5%	28.58 ¢	32.25 ¢
202601	options	CITADEL SECURITIES LLC	CDRG	26.3%	43.3%	46.9%	41.9%	12.85 ¢	23.25 ¢
202601	options	Dash/IMC Financial Markets	Unmapped	0.6%	0.0%	0.3%	0.6%	0.00 ¢	0.00 ¢
202601	other_stocks	CITADEL SECURITIES LLC	CDRG	19.4%	19.1%	21.8%	26.5%	0.00 ¢	0.00 ¢
202601	other_stocks	Jane Street Capital	JNST	17.6%	17.9%	13.8%	11.3%	0.00 ¢	0.00 ¢
202601	other_stocks	Virtu Americas, LLC	NITE	14.4%	14.1%	14.7%	18.7%	0.00 ¢	0.00 ¢
202601	other_stocks	Hudson River Trading (HRT)	HRTF	11.9%	12.1%	11.3%	7.8%	0.00 ¢	0.00 ¢
202601	other_stocks	G1 Execution Services, LLC	ETMM	10.7%	10.6%	11.9%	13.4%	0.00 ¢	0.00 ¢
202601	other_stocks	Two Sigma Securities, LLC	Unmapped	10.2%	10.3%	9.6%	7.1%	0.00 ¢	0.00 ¢
202601	other_stocks	UBS Securities, LLC	Unmapped	8.7%	8.6%	7.8%	9.2%	0.00 ¢	0.00 ¢
202601	other_stocks	StoneX Financial, Inc.	Unmapped	7.2%	7.2%	9.1%	6.1%	0.00 ¢	0.00 ¢
202601	sp500	CITADEL SECURITIES LLC	CDRG	21.4%	21.1%	24.4%	30.9%	0.00 ¢	0.00 ¢
202601	sp500	Virtu Americas, LLC	NITE	16.1%	15.9%	21.1%	24.3%	0.00 ¢	0.00 ¢
202601	sp500	Jane Street Capital	JNST	15.6%	15.8%	11.1%	5.8%	0.00 ¢	0.00 ¢
202601	sp500	G1 Execution Services, LLC	ETMM	10.8%	10.6%	11.9%	17.7%	0.00 ¢	0.00 ¢
202601	sp500	UBS Securities, LLC	Unmapped	10.4%	10.4%	12.4%	11.3%	0.00 ¢	0.00 ¢
202601	sp500	Hudson River Trading (HRT)	HRTF	10.3%	10.4%	7.8%	3.9%	0.00 ¢	0.00 ¢
202601	sp500	Two Sigma Securities, LLC	Unmapped	9.3%	9.4%	4.3%	3.1%	0.00 ¢	0.00 ¢
202601	sp500	StoneX Financial, Inc.	Unmapped	6.2%	6.3%	7.0%	3.1%	0.00 ¢	0.00 ¢
202602	options	Wolverine Execution Services, LLC	Unmapped	71.3%	53.9%	51.3%	60.0%	28.91 ¢	27.59 ¢
202602	options	CITADEL SECURITIES LLC	CDRG	27.8%	46.1%	47.8%	39.9%	11.37 ¢	24.62 ¢
202602	options	Dash/IMC Financial Markets	Unmapped	0.9%	0.0%	0.9%	0.1%	0.00 ¢	0.00 ¢
202602	other_stocks	CITADEL SECURITIES LLC	CDRG	21.3%	21.0%	21.7%	26.2%	0.00 ¢	0.00 ¢
202602	other_stocks	Jane Street Capital	JNST	15.6%	15.9%	13.2%	10.4%	0.00 ¢	0.00 ¢
202602	other_stocks	Hudson River Trading (HRT)	HRTF	13.4%	13.7%	10.4%	7.2%	0.00 ¢	0.00 ¢
202602	other_stocks	Virtu Americas, LLC	NITE	12.7%	12.3%	16.6%	19.6%	0.00 ¢	0.00 ¢
202602	other_stocks	G1 Execution Services, LLC	ETMM	10.9%	10.7%	12.3%	14.6%	0.00 ¢	0.00 ¢
202602	other_stocks	Two Sigma Securities, LLC	Unmapped	10.3%	10.4%	9.6%	6.6%	0.00 ¢	0.00 ¢
202602	other_stocks	UBS Securities, LLC	Unmapped	8.7%	8.6%	7.7%	9.0%	0.00 ¢	0.00 ¢
202602	other_stocks	StoneX Financial, Inc.	Unmapped	7.2%	7.3%	8.4%	6.3%	0.00 ¢	0.00 ¢
202602	sp500	CITADEL SECURITIES LLC	CDRG	21.4%	21.1%	25.7%	30.4%	0.00 ¢	0.00 ¢
202602	sp500	Virtu Americas, LLC	NITE	15.8%	15.5%	16.9%	25.1%	0.00 ¢	0.00 ¢
202602	sp500	Jane Street Capital	JNST	15.6%	15.8%	11.9%	6.9%	0.00 ¢	0.00 ¢
202602	sp500	G1 Execution Services, LLC	ETMM	11.1%	10.9%	13.8%	16.1%	0.00 ¢	0.00 ¢
202602	sp500	UBS Securities, LLC	Unmapped	10.4%	10.4%	10.1%	10.9%	0.00 ¢	0.00 ¢
202602	sp500	Hudson River Trading (HRT)	HRTF	10.2%	10.4%	8.1%	4.0%	0.00 ¢	0.00 ¢
202602	sp500	Two Sigma Securities, LLC	Unmapped	9.3%	9.4%	6.3%	3.2%	0.00 ¢	0.00 ¢
202602	sp500	StoneX Financial, Inc.	Unmapped	6.3%	6.4%	7.1%	3.4%	0.00 ¢	0.00 ¢
202603	options	Wolverine Execution Services, LLC	Unmapped	72.5%	51.0%	52.1%	61.9%	31.38 ¢	40.07 ¢
202603	options	CITADEL SECURITIES LLC	CDRG	26.2%	49.0%	46.9%	37.6%	13.60 ¢	32.14 ¢
202603	options	Dash/IMC Financial Markets	Unmapped	1.3%	0.0%	1.0%	0.5%	0.00 ¢	0.00 ¢
202603	other_stocks	CITADEL SECURITIES LLC	CDRG	21.1%	20.9%	21.2%	26.1%	0.00 ¢	0.00 ¢
202603	other_stocks	Jane Street Capital	JNST	15.8%	16.1%	14.7%	10.7%	0.00 ¢	0.00 ¢
202603	other_stocks	Hudson River Trading (HRT)	HRTF	12.9%	13.2%	9.8%	7.6%	0.00 ¢	0.00 ¢
202603	other_stocks	Virtu Americas, LLC	NITE	12.3%	12.0%	15.4%	19.4%	0.00 ¢	0.00 ¢
202603	other_stocks	G1 Execution Services, LLC	ETMM	11.3%	11.0%	13.5%	15.6%	0.00 ¢	0.00 ¢
202603	other_stocks	Two Sigma Securities, LLC	Unmapped	10.9%	11.1%	10.1%	6.8%	0.00 ¢	0.00 ¢
202603	other_stocks	UBS Securities, LLC	Unmapped	8.5%	8.6%	6.7%	7.3%	0.00 ¢	0.00 ¢
202603	other_stocks	StoneX Financial, Inc.	Unmapped	7.2%	7.2%	8.7%	6.4%	0.00 ¢	0.00 ¢
202603	sp500	CITADEL SECURITIES LLC	CDRG	21.3%	21.1%	29.9%	31.1%	0.00 ¢	0.00 ¢
202603	sp500	Jane Street Capital	JNST	15.7%	15.9%	12.2%	6.7%	0.00 ¢	0.00 ¢
202603	sp500	Virtu Americas, LLC	NITE	15.4%	15.2%	16.9%	24.0%	0.00 ¢	0.00 ¢
202603	sp500	G1 Execution Services, LLC	ETMM	11.5%	11.3%	15.6%	17.0%	0.00 ¢	0.00 ¢
202603	sp500	UBS Securities, LLC	Unmapped	10.4%	10.4%	9.7%	10.9%	0.00 ¢	0.00 ¢
202603	sp500	Hudson River Trading (HRT)	HRTF	10.2%	10.4%	5.9%	3.9%	0.00 ¢	0.00 ¢
202603	sp500	Two Sigma Securities, LLC	Unmapped	9.3%	9.5%	4.4%	3.2%	0.00 ¢	0.00 ¢
202603	sp500	StoneX Financial, Inc.	Unmapped	6.2%	6.3%	5.4%	3.3%	0.00 ¢	0.00 ¢
202601	options	RBC Capital Markets Corporation	Unmapped	63.4%	99.2%	51.4%	22.1%	0.00 ¢	0.00 ¢
202601	options	Dash/IMC Financial Markets	Unmapped	35.0%	0.8%	48.6%	77.9%	0.00 ¢	0.00 ¢
202601	options	GELP	Unmapped	1.6%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202601	other_stocks	UBS Securities, LLC ATS	Unmapped	35.7%	33.9%	6.2%	67.2%	0.00 ¢	0.00 ¢
202601	other_stocks	Citadel Securities	CDRG	28.3%	25.8%	68.0%	13.8%	0.00 ¢	0.00 ¢
202601	other_stocks	GTS SECURITIES LLC	Unmapped	12.2%	15.3%	4.5%	0.0%	0.00 ¢	0.00 ¢
202601	other_stocks	Virtu Agency	Unmapped	8.5%	10.8%	2.3%	0.0%	2.57 ¢	0.00 ¢
202601	other_stocks	MCAP LLC	Unmapped	7.9%	10.3%	0.0%	0.0%	0.03 ¢	0.00 ¢
202601	other_stocks	Canaccord Genuity Securities	Unmapped	1.9%	2.4%	0.0%	0.0%	0.00 ¢	0.00 ¢
202601	other_stocks	Wallachbeth	Unmapped	1.0%	1.3%	0.0%	0.0%	0.00 ¢	0.00 ¢
202601	other_stocks	The Nasdaq Stock Market LLC	Unmapped	1.0%	0.1%	3.4%	4.0%	0.00 ¢	23.05 ¢
202601	other_stocks	NYSE Arca, Inc.	Unmapped	0.6%	0.0%	2.3%	2.8%	0.00 ¢	30.00 ¢
202601	other_stocks	Investors Exchange (IEXG)	Unmapped	0.4%	0.0%	1.7%	2.0%	0.00 ¢	8.80 ¢
202601	sp500	Citadel Securities	CDRG	68.5%	68.9%	0.0%	0.0%	0.00 ¢	0.00 ¢
202601	sp500	UBS Securities, LLC ATS	Unmapped	15.6%	15.6%	0.0%	0.0%	0.00 ¢	0.00 ¢
202601	sp500	Virtu Agency	Unmapped	15.4%	15.5%	0.0%	0.0%	0.52 ¢	0.00 ¢
202601	sp500	The Nasdaq Stock Market LLC	Unmapped	0.3%	0.0%	0.0%	50.0%	0.00 ¢	0.00 ¢
202601	sp500	Cboe BZX Exchange, Inc.	Unmapped	0.2%	0.0%	0.0%	50.0%	0.00 ¢	0.00 ¢
202602	options	RBC Capital Markets Corporation	Unmapped	92.2%	100.0%	76.5%	73.3%	0.00 ¢	0.00 ¢
202602	options	Dash/IMC Financial Markets	Unmapped	7.5%	0.0%	23.5%	26.7%	0.00 ¢	0.00 ¢
202602	options	GELP	Unmapped	0.3%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202602	other_stocks	Virtu Agency	Unmapped	44.7%	32.7%	8.7%	71.2%	1.46 ¢	0.12 ¢
202602	other_stocks	Citadel Securities	CDRG	29.0%	23.1%	57.7%	20.5%	0.00 ¢	0.00 ¢
202602	other_stocks	UBS Securities, LLC ATS	Unmapped	11.5%	24.5%	14.1%	0.0%	0.00 ¢	0.00 ¢
202602	other_stocks	MCAP LLC	Unmapped	6.1%	10.9%	0.1%	5.0%	0.03 ¢	0.00 ¢
202602	other_stocks	GTS SECURITIES LLC	Unmapped	2.8%	8.0%	0.1%	0.0%	0.00 ¢	0.00 ¢
202602	other_stocks	The Nasdaq Stock Market LLC	Unmapped	0.8%	0.2%	2.3%	0.5%	0.00 ¢	5.72 ¢
202602	other_stocks	NEW YORK STOCK EXCHANGE, INC.	Unmapped	0.6%	0.0%	1.7%	0.4%	0.00 ¢	0.05 ¢
202602	other_stocks	Investors Exchange (IEXG)	Unmapped	0.6%	0.0%	2.0%	0.3%	0.00 ¢	0.44 ¢
202602	other_stocks	NYSE Arca, Inc.	Unmapped	0.6%	0.0%	1.9%	0.4%	0.00 ¢	1.92 ¢
202602	other_stocks	Cboe EDGX Exchange, Inc.	Unmapped	0.5%	0.0%	2.0%	0.2%	0.00 ¢	2.93 ¢
202602	sp500	UBS Securities, LLC ATS	Unmapped	50.2%	72.0%	45.2%	0.0%	0.00 ¢	0.00 ¢
202602	sp500	Virtu Agency	Unmapped	43.0%	28.0%	46.5%	0.0%	0.05 ¢	-5.10 ¢
202602	sp500	Citadel Securities	CDRG	4.2%	0.0%	5.2%	0.0%	0.00 ¢	0.00 ¢
202602	sp500	NYSE Arca, Inc.	Unmapped	0.6%	0.0%	0.8%	0.0%	0.00 ¢	20.91 ¢
202602	sp500	The Nasdaq Stock Market LLC	Unmapped	0.5%	0.0%	0.7%	0.0%	0.00 ¢	0.00 ¢
202602	sp500	Cboe EDGX Exchange, Inc.	Unmapped	0.4%	0.0%	0.5%	0.0%	0.00 ¢	30.00 ¢
202602	sp500	Investors Exchange (IEXG)	Unmapped	0.3%	0.0%	0.4%	0.0%	0.00 ¢	10.00 ¢
202602	sp500	NYSE American LLC	Unmapped	0.3%	0.0%	0.4%	0.0%	0.00 ¢	0.00 ¢
202602	sp500	Cboe BZX Exchange, Inc.	Unmapped	0.2%	0.0%	0.3%	0.0%	0.00 ¢	30.00 ¢
202602	sp500	Cboe BYX Exchange, Inc.	Unmapped	0.1%	0.0%	0.1%	0.0%	0.00 ¢	30.00 ¢
202603	options	RBC Capital Markets Corporation	Unmapped	80.4%	100.0%	72.5%	49.1%	0.00 ¢	0.00 ¢
202603	options	Dash/IMC Financial Markets	Unmapped	18.6%	0.0%	27.5%	50.9%	0.00 ¢	0.00 ¢
202603	options	GELP	Unmapped	0.9%	0.0%	0.0%	0.0%	0.00 ¢	0.00 ¢
202603	other_stocks	Virtu Agency	Unmapped	50.8%	23.1%	55.0%	93.8%	1.25 ¢	0.21 ¢
202603	other_stocks	Citadel Securities	CDRG	36.4%	60.1%	16.2%	3.8%	0.00 ¢	0.00 ¢
202603	other_stocks	UBS Securities, LLC ATS	Unmapped	5.2%	6.3%	18.9%	0.0%	0.00 ¢	0.00 ¢
202603	other_stocks	GTS SECURITIES LLC	Unmapped	3.0%	5.4%	0.0%	0.0%	0.00 ¢	0.00 ¢
202603	other_stocks	MCAP LLC	Unmapped	2.0%	3.6%	0.0%	0.0%	0.08 ¢	0.00 ¢
202603	other_stocks	The Nasdaq Stock Market LLC	Unmapped	0.6%	0.1%	4.3%	0.3%	12.88 ¢	2.14 ¢
202603	other_stocks	Wallachbeth	Unmapped	0.4%	0.8%	0.0%	0.0%	0.00 ¢	0.00 ¢
202603	other_stocks	Knight Capital Markets	Unmapped	0.4%	0.7%	0.0%	0.0%	-1.97 ¢	0.00 ¢
202603	other_stocks	NYSE Arca, Inc.	Unmapped	0.3%	0.0%	1.0%	0.7%	0.00 ¢	0.00 ¢
202603	other_stocks	Cboe EDGX Exchange, Inc.	Unmapped	0.3%	0.0%	1.3%	0.4%	0.00 ¢	12.91 ¢
202603	sp500	Citadel Securities	CDRG	71.6%	71.7%	0.0%	0.0%	0.00 ¢	0.00 ¢
202603	sp500	Virtu Agency	Unmapped	28.2%	28.3%	0.0%	0.0%	0.57 ¢	0.00 ¢
202603	sp500	NYSE Arca, Inc.	Unmapped	0.2%	0.0%	0.0%	100.0%	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.

Download CSV ↓

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.

Download CSV ↓

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.

Download CSV ↓

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 2025Q4.

Download CSV ↓

No material shifts (≥ 5 percentage point route share or PFOF rate change) detected relative to 2025Q4.

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:

Canaccord Genuity Securities (name:CANACCORD GENUITY SECURITIES), Cboe BYX Exchange, Inc. (name:CBOE BYX EXCHANGE), Cboe BZX Exchange, Inc. (name:CBOE BZX EXCHANGE), Cboe EDGX Exchange, Inc. (name:CBOE EDGX EXCHANGE), GTS SECURITIES LLC (name:GTS SECURITIES), Investors Exchange (IEXG) (name:INVESTORS EXCHANGE IEXG), Knight Capital Markets (name:KNIGHT CAPITAL MARKETS), MCAP LLC (name:MCAP), NEW YORK STOCK EXCHANGE, INC. (name:NEW YORK STOCK EXCHANGE), NYSE American LLC (name:NYSE AMERICAN), NYSE Arca, Inc. (name:NYSE ARCA), StoneX Financial, Inc. (name:STONEX FINANCIAL), The Nasdaq Stock Market LLC (name:THE NASDAQ STOCK MARKET), Two Sigma Securities, LLC (name:TWO SIGMA SECURITIES), UBS Securities, LLC (name:UBS SECURITIES), UBS Securities, LLC ATS (name:UBS SECURITIES LLC ATS), Virtu Agency (name:VIRTU AGENCY), Wallachbeth (name:WALLACHBETH)

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.