EXECUTIONREPORTS.COM AMENDED SEC RULE 605 / FINRA 5310.09 ENGINE
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2026Q22026Q1
CRD #628 Review Period: 2026Q1 Filing: Direct 606 filer

FIFTH THIRD SECURITIES, INC. (CRD #628) — Quarterly Rule 606 vs. Amended Rule 605 Competing Market Review

• 0 COMPETING-MARKET EXCEPTIONS DETECTED (>1.0 BPS THRESHOLD)
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Primary Routed Venues (606)
1. CITADEL SECURITIES LLC(249.7%)
2. Jane Street Capital(242.6%)
3. G1 Execution Services, LLC(226.3%)
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

FIFTH THIRD SECURITIES, INC.

CRD Number: 628 • Quarter: 2026Q1 • Generated: Wed, 14 Oct 2026 20:18:20 GMT
Methodology: exq-2
Status: CLOSED QUARTER

Resolved Rule 606 Source Filings

Author / Clearing FirmCRDVariant / ContextVersionSHA-256 DigestSource Document
FTSR628FTSRV16aa232a6d2249f637e668d5da52936764a153a0c2959e2c029e38e498106de0d Download XML ↗
FTSR628OHIOV153a20bdf3230bdb2b14302ab3a79f08e23ee2f3fb39d52a7d6ecf17ef280dada 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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MonthSectionExecution Venue605 ReporterRoute %Market %Mkt Limit %Non-Mkt %PFOF Mkt (¢/100)PFOF Limit (¢/100)
202601optionsCITADEL SECURITIES LLCCDRG29.8%33.3%0.0%28.1%0.00 ¢0.00 ¢
202601optionsWolverine Execution Services, LLCUnmapped19.6%7.6%0.0%29.6%0.00 ¢0.00 ¢
202601optionsDash/IMC Financial MarketsUnmapped19.2%19.1%40.0%18.5%0.00 ¢0.00 ¢
202601optionsJane Street CapitalJNST18.8%17.1%60.0%18.5%0.00 ¢0.00 ¢
202601optionsGlobal Execution Brokers LPUnmapped12.2%21.9%0.0%5.2%0.00 ¢0.00 ¢
202601optionsGlobal Execution Brokers, LPUnmapped0.4%0.9%0.0%0.0%0.00 ¢0.00 ¢
202601other_stocksG1 Execution Services, LLCETMM20.4%22.2%21.7%3.9%0.00 ¢0.00 ¢
202601other_stocksVirtu Americas, LLCNITE17.6%19.1%10.9%3.6%0.00 ¢0.00 ¢
202601other_stocksCITADEL SECURITIES LLCCDRG17.2%18.5%15.2%4.0%0.00 ¢0.00 ¢
202601other_stocksJane Street CapitalJNST14.2%15.5%13.0%2.6%0.00 ¢0.00 ¢
202601other_stocksHudson River Trading (HRT)HRTF13.6%14.8%13.9%2.8%0.00 ¢0.00 ¢
202601other_stocksTwo Sigma Securities, LLCUnmapped2.9%3.2%2.2%0.4%0.00 ¢0.00 ¢
202601other_stocksNasdaq OMXUnmapped2.8%0.0%3.0%29.0%0.00 ¢0.00 ¢
202601other_stocksGoldman, Sachs & Co.Unmapped2.8%3.0%1.3%0.7%0.00 ¢0.00 ¢
202601other_stocksUBS Securities, LLCUnmapped2.6%2.9%2.6%0.5%0.00 ¢0.00 ¢
202601other_stocksNew York Stock Exchange LLCUnmapped2.3%0.0%2.6%24.1%0.00 ¢0.00 ¢
202601sp500G1 Execution Services, LLCETMM18.5%22.6%13.7%5.9%0.00 ¢0.00 ¢
202601sp500Virtu Americas, LLCNITE15.9%18.7%18.9%5.3%0.00 ¢0.00 ¢
202601sp500CITADEL SECURITIES LLCCDRG14.9%17.8%14.7%4.5%0.00 ¢0.00 ¢
202601sp500Jane Street CapitalJNST12.7%15.7%5.3%3.1%0.00 ¢0.00 ¢
202601sp500Hudson River Trading (HRT)HRTF12.3%14.8%9.5%4.5%0.00 ¢0.00 ¢
202601sp500Nasdaq OMXUnmapped10.2%0.0%22.1%43.9%0.00 ¢0.00 ¢
202601sp500New York Stock Exchange LLCUnmapped5.1%0.0%6.3%22.1%0.00 ¢0.00 ¢
202601sp500UBS Securities, LLCUnmapped2.8%3.3%3.2%1.0%0.00 ¢0.00 ¢
202601sp500Two Sigma Securities, LLCUnmapped2.7%3.3%3.2%0.7%0.00 ¢0.00 ¢
202601sp500Goldman, Sachs & Co.Unmapped2.5%3.1%1.1%0.6%0.00 ¢0.00 ¢
202602optionsCITADEL SECURITIES LLCCDRG41.7%41.0%50.0%41.7%0.00 ¢0.00 ¢
202602optionsJane Street CapitalJNST21.8%30.8%50.0%18.3%0.00 ¢0.00 ¢
202602optionsDash/IMC Financial MarketsUnmapped15.4%7.7%0.0%18.3%0.00 ¢0.00 ¢
202602optionsWolverine Execution Services, LLCUnmapped12.2%2.6%0.0%15.7%0.00 ¢0.00 ¢
202602optionsGlobal Execution Brokers LPUnmapped9.0%17.9%0.0%6.1%0.00 ¢0.00 ¢
202602other_stocksG1 Execution Services, LLCETMM18.5%22.3%17.8%3.1%0.00 ¢0.00 ¢
202602other_stocksCITADEL SECURITIES LLCCDRG16.8%19.7%20.1%3.8%0.00 ¢0.00 ¢
202602other_stocksVirtu Americas, LLCNITE15.6%18.5%10.9%2.5%0.00 ¢0.00 ¢
202602other_stocksJane Street CapitalJNST13.6%16.3%13.8%2.4%0.00 ¢0.00 ¢
202602other_stocksHudson River Trading (HRT)HRTF11.0%13.3%9.8%1.4%0.00 ¢0.00 ¢
202602other_stocksNew York Stock Exchange LLCUnmapped6.7%0.0%4.6%35.1%0.00 ¢0.00 ¢
202602other_stocksNasdaq OMXUnmapped5.8%0.0%2.9%30.7%0.00 ¢0.00 ¢
202602other_stocksGoldman, Sachs & Co.Unmapped2.8%3.3%3.5%0.5%0.00 ¢0.00 ¢
202602other_stocksUBS Securities, LLCUnmapped2.4%2.9%2.3%0.3%0.00 ¢0.00 ¢
202602other_stocksTwo Sigma Securities, LLCUnmapped2.0%2.4%1.1%0.3%0.00 ¢0.00 ¢
202602sp500G1 Execution Services, LLCETMM16.2%21.8%24.7%3.2%0.00 ¢0.00 ¢
202602sp500Nasdaq OMXUnmapped15.3%0.0%12.4%51.3%0.00 ¢0.00 ¢
202602sp500CITADEL SECURITIES LLCCDRG14.3%18.8%12.4%2.7%0.00 ¢0.00 ¢
202602sp500Virtu Americas, LLCNITE14.0%18.4%18.0%3.0%0.00 ¢0.00 ¢
202602sp500Jane Street CapitalJNST11.8%16.0%13.5%2.5%0.00 ¢0.00 ¢
202602sp500Hudson River Trading (HRT)HRTF9.6%12.9%9.0%2.1%0.00 ¢0.00 ¢
202602sp500New York Stock Exchange LLCUnmapped9.0%0.0%5.6%30.4%0.00 ¢0.00 ¢
202602sp500FTSRUnmapped2.5%3.6%0.0%0.0%0.00 ¢0.00 ¢
202602sp500Goldman, Sachs & Co.Unmapped2.2%2.8%0.0%0.7%0.00 ¢0.00 ¢
202602sp500UBS Securities, LLCUnmapped2.1%2.8%2.3%0.4%0.00 ¢0.00 ¢
202603optionsCITADEL SECURITIES LLCCDRG35.8%35.4%50.0%35.0%0.00 ¢0.00 ¢
202603optionsJane Street CapitalJNST19.3%29.1%0.0%14.2%0.00 ¢0.00 ¢
202603optionsDash/IMC Financial MarketsUnmapped15.0%13.9%12.5%15.8%0.00 ¢0.00 ¢
202603optionsGlobal Execution Brokers LPUnmapped15.0%20.3%25.0%10.8%0.00 ¢0.00 ¢
202603optionsWolverine Execution Services, LLCUnmapped15.0%1.3%12.5%24.2%0.00 ¢0.00 ¢
202603other_stocksCITADEL SECURITIES LLCCDRG18.0%21.3%15.3%2.4%0.00 ¢0.00 ¢
202603other_stocksVirtu Americas, LLCNITE17.6%20.9%14.9%2.1%0.00 ¢0.00 ¢
202603other_stocksG1 Execution Services, LLCETMM17.3%20.6%14.0%2.2%0.00 ¢0.00 ¢
202603other_stocksJane Street CapitalJNST16.6%19.8%14.0%1.7%0.00 ¢0.00 ¢
202603other_stocksHudson River Trading (HRT)HRTF7.5%8.9%7.7%0.9%0.00 ¢0.00 ¢
202603other_stocksNew York Stock Exchange LLCUnmapped7.5%0.0%6.8%42.4%0.00 ¢0.00 ¢
202603other_stocksNasdaq OMXUnmapped5.3%0.0%3.4%30.4%0.00 ¢0.00 ¢
202603other_stocksGoldman, Sachs & Co.Unmapped3.0%3.5%2.5%0.3%0.00 ¢0.00 ¢
202603other_stocksUBS Securities, LLCUnmapped1.8%2.2%2.1%0.3%0.00 ¢0.00 ¢
202603other_stocksNYSE Arca, Inc.Unmapped1.4%0.0%6.8%7.8%0.00 ¢0.00 ¢
202603sp500Nasdaq OMXUnmapped21.2%0.0%9.8%51.0%0.00 ¢0.00 ¢
202603sp500New York Stock Exchange LLCUnmapped13.9%0.0%7.3%33.5%0.00 ¢0.00 ¢
202603sp500CITADEL SECURITIES LLCCDRG13.4%21.1%15.8%2.1%0.00 ¢0.00 ¢
202603sp500Virtu Americas, LLCNITE13.0%20.6%21.9%2.2%0.00 ¢0.00 ¢
202603sp500G1 Execution Services, LLCETMM13.0%20.6%17.1%2.5%0.00 ¢0.00 ¢
202603sp500Jane Street CapitalJNST13.0%20.9%15.8%2.2%0.00 ¢0.00 ¢
202603sp500Hudson River Trading (HRT)HRTF5.5%8.7%4.9%1.2%0.00 ¢0.00 ¢
202603sp500Goldman, Sachs & Co.Unmapped2.2%3.7%2.4%0.2%0.00 ¢0.00 ¢
202603sp500Cboe EDGX Exchange, Inc.Unmapped1.2%0.0%0.0%3.0%0.00 ¢0.00 ¢
202603sp500UBS Securities, LLCUnmapped1.2%1.9%3.7%0.1%0.00 ¢0.00 ¢
202601other_stocksG1 Execution Services, LLCETMM21.3%21.5%0.0%0.0%0.00 ¢0.00 ¢
202601other_stocksJane Street CapitalJNST16.5%15.9%0.0%0.0%0.00 ¢0.00 ¢
202601other_stocksCITADEL SECURITIES LLCCDRG12.2%12.3%0.0%0.0%0.00 ¢0.00 ¢
202601other_stocksCDREUnmapped11.0%11.0%0.0%0.0%0.00 ¢0.00 ¢
202601other_stocksVirtu Americas, LLCNITE9.8%9.8%0.0%0.0%0.00 ¢0.00 ¢
202601other_stocksHudson River Trading (HRT)HRTF9.2%9.2%0.0%0.0%0.00 ¢0.00 ¢
202601other_stocksTwo Sigma Securities, LLCUnmapped6.7%6.8%0.0%0.0%0.00 ¢0.00 ¢
202601other_stocksNITVUnmapped4.9%4.9%0.0%0.0%0.00 ¢0.00 ¢
202601other_stocksUBS Securities, LLCUnmapped4.3%4.3%0.0%0.0%0.00 ¢0.00 ¢
202601other_stocksGTS SECURITIES LLCUnmapped2.4%2.5%0.0%0.0%0.00 ¢0.00 ¢
202601sp500CDREUnmapped21.5%22.0%0.0%0.0%0.00 ¢0.00 ¢
202601sp500Jane Street CapitalJNST16.5%16.1%0.0%0.0%0.00 ¢0.00 ¢
202601sp500G1 Execution Services, LLCETMM15.7%15.3%0.0%0.0%0.00 ¢0.00 ¢
202601sp500Hudson River Trading (HRT)HRTF13.2%13.6%0.0%0.0%0.00 ¢0.00 ¢
202601sp500UBS Securities, LLCUnmapped9.1%9.3%0.0%0.0%0.00 ¢0.00 ¢
202601sp500StoneX Financial, Inc.Unmapped8.3%8.5%0.0%0.0%0.00 ¢0.00 ¢
202601sp500CITADEL SECURITIES LLCCDRG5.0%4.2%0.0%0.0%0.00 ¢0.00 ¢
202601sp500NITVUnmapped4.1%4.2%0.0%0.0%0.00 ¢0.00 ¢
202601sp500Two Sigma Securities, LLCUnmapped3.3%3.4%0.0%0.0%0.00 ¢0.00 ¢
202601sp500Virtu Americas, LLCNITE3.3%3.4%0.0%0.0%0.00 ¢0.00 ¢
202602other_stocksJane Street CapitalJNST21.3%21.2%0.0%0.0%0.00 ¢0.00 ¢
202602other_stocksG1 Execution Services, LLCETMM17.8%18.2%0.0%0.0%0.00 ¢0.00 ¢
202602other_stocksCDREUnmapped13.2%12.9%0.0%0.0%0.00 ¢0.00 ¢
202602other_stocksCITADEL SECURITIES LLCCDRG12.1%12.3%0.0%0.0%0.00 ¢0.00 ¢
202602other_stocksStoneX Financial, Inc.Unmapped6.9%7.1%0.0%0.0%0.00 ¢0.00 ¢
202602other_stocksHudson River Trading (HRT)HRTF6.3%6.5%0.0%0.0%0.00 ¢0.00 ¢
202602other_stocksTwo Sigma Securities, LLCUnmapped6.3%5.9%0.0%0.0%0.00 ¢0.00 ¢
202602other_stocksVirtu Americas, LLCNITE5.8%5.9%0.0%0.0%0.00 ¢0.00 ¢
202602other_stocksUBS Securities, LLCUnmapped5.2%5.3%0.0%0.0%0.00 ¢0.00 ¢
202602other_stocksNITVUnmapped4.6%4.1%0.0%0.0%0.00 ¢0.00 ¢
202602sp500CDREUnmapped21.0%21.0%0.0%0.0%0.00 ¢0.00 ¢
202602sp500Jane Street CapitalJNST19.3%19.3%0.0%0.0%0.00 ¢0.00 ¢
202602sp500G1 Execution Services, LLCETMM12.6%12.6%0.0%0.0%0.00 ¢0.00 ¢
202602sp500Hudson River Trading (HRT)HRTF11.8%11.8%0.0%0.0%0.00 ¢0.00 ¢
202602sp500NITVUnmapped8.4%8.4%0.0%0.0%0.00 ¢0.00 ¢
202602sp500UBS Securities, LLCUnmapped7.6%7.6%0.0%0.0%0.00 ¢0.00 ¢
202602sp500Virtu Americas, LLCNITE6.7%6.7%0.0%0.0%0.00 ¢0.00 ¢
202602sp500StoneX Financial, Inc.Unmapped5.0%5.0%0.0%0.0%0.00 ¢0.00 ¢
202602sp500CITADEL SECURITIES LLCCDRG4.2%4.2%0.0%0.0%0.00 ¢0.00 ¢
202602sp500Two Sigma Securities, LLCUnmapped2.5%2.5%0.0%0.0%0.00 ¢0.00 ¢
202603other_stocksG1 Execution Services, LLCETMM35.6%37.2%0.0%0.0%0.00 ¢0.00 ¢
202603other_stocksCDREUnmapped11.1%11.6%0.0%0.0%0.00 ¢0.00 ¢
202603other_stocksCITADEL SECURITIES LLCCDRG11.1%7.0%0.0%100.0%0.00 ¢0.00 ¢
202603other_stocksJane Street CapitalJNST11.1%11.6%0.0%0.0%0.00 ¢0.00 ¢
202603other_stocksTwo Sigma Securities, LLCUnmapped11.1%11.6%0.0%0.0%0.00 ¢0.00 ¢
202603other_stocksHudson River Trading (HRT)HRTF8.9%9.3%0.0%0.0%0.00 ¢0.00 ¢
202603other_stocksNITVUnmapped8.9%9.3%0.0%0.0%0.00 ¢0.00 ¢
202603other_stocksMCAP LLCUnmapped2.2%2.3%0.0%0.0%0.00 ¢0.00 ¢
202603sp500CDREUnmapped25.8%28.0%0.0%0.0%0.00 ¢0.00 ¢
202603sp500G1 Execution Services, LLCETMM19.4%20.0%0.0%0.0%0.00 ¢0.00 ¢
202603sp500Jane Street CapitalJNST16.1%16.0%0.0%0.0%0.00 ¢0.00 ¢
202603sp500NITVUnmapped9.7%8.0%0.0%0.0%0.00 ¢0.00 ¢
202603sp500Hudson River Trading (HRT)HRTF6.5%8.0%0.0%0.0%0.00 ¢0.00 ¢
202603sp500UBS Securities, LLCUnmapped6.5%0.0%0.0%0.0%0.00 ¢0.00 ¢
202603sp500Virtu Americas, LLCNITE6.5%8.0%0.0%0.0%0.00 ¢0.00 ¢
202603sp500CITADEL SECURITIES LLCCDRG3.2%4.0%0.0%0.0%0.00 ¢0.00 ¢
202603sp500StoneX Financial, Inc.Unmapped3.2%4.0%0.0%0.0%0.00 ¢0.00 ¢
202603sp500Two Sigma Securities, LLCUnmapped3.2%4.0%0.0%0.0%0.00 ¢0.00 ¢

2. Venue Scorecards (Amended Rule 605)

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

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MonthVenueClassNotional × LotFill RatePI RateNPI (bps)Peer Bench (bps)CoverageRank PctlEff SpreadSpeed <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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MonthClassNotional × LotMetricFirm CompositeBest CompetingBest VenueMedian CompetingMapped 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 ↓
MonthVenueOrder ClassRoute %606 Net PFOF (¢/100)NPI (bps)Peer Bench (bps)Delta (bps)Ref PriceDelta (¢/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.

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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
0
Cells with < 100 covered orders
Unmapped Venues
13
606 destinations without 605 match
Challenged / Missing 605
0
Venues missing monthly 605 report

Unmapped Routing Destinations:

Cboe EDGX Exchange, Inc. (name:CBOE EDGX EXCHANGE), CDRE (name:CDRE), FTSR (name:FTSR), Goldman, Sachs & Co. (name:GOLDMAN SACHS), GTS SECURITIES LLC (name:GTS SECURITIES), MCAP LLC (name:MCAP), Nasdaq OMX (name:NASDAQ OMX), New York Stock Exchange LLC (name:NEW YORK STOCK EXCHANGE), NITV (name:NITV), NYSE Arca, Inc. (name:NYSE ARCA), StoneX Financial, Inc. (name:STONEX FINANCIAL), 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.