AVENUE SECURITIES LLC

Reporter ID: AVNU • Quarter: 2026Q3 • Methodology: exq-2

Status: ACTIVE

Generated: Wed, 14 Oct 2026 18:31:34 GMT

Quarter:2026Q3

Covered Orders186,848Across all reported tiers

Covered Shares17,522,662In Q3 2026

Active Tiers79Order class × notional buckets

Routing Brokers0Disclosed in 606 filings

1. Amended Rule 605 Scorecard vs. Mix-Adjusted Peers — 2026-08

Execution metrics across order classes and the 24 notional × lot categories, benchmarked against what competing market centers delivered on identical symbols.

Class	Notional × Lot	Orders	Covered Sh	Fill Rate	PI Rate	NPI (bps)	Peer Bench (bps)	Coverage	Rank Pctl	Eff Spread	Speed <1s
market	<$250 • ODD	31,752	125,327	—	91.7%	2.8 bps	—	—	11th	—	99.8%
market	<$250 • ROUND	255	117,112	—	51.5%	19.8 bps	—	—	37th	—	99.7%
market	$250–$999 • ODD	36,712	320,265	—	90.1%	1.7 bps	—	—	8th	—	99.6%
market	$250–$999 • ROUND	1,053	465,671	—	59.5%	11.1 bps	—	—	26th	—	99.9%
market	$1k–$5k • ODD	24,823	606,511	—	89.5%	1.8 bps	—	—	9th	—	99.7%
market	$1k–$5k • ROUND	3,390	1,652,381	—	64.1%	4.1 bps	—	—	24th	—	99.9%
market	$5k–$10k • ODD	2,749	129,206	—	87.4%	1.4 bps	—	—	9th	—	99.7%
market	$5k–$10k • ROUND	2,226	1,322,918	—	57.0%	2.1 bps	—	—	15th	—	100.0%
market	$10k–$20k • ODD	760	35,625	—	90.2%	1.3 bps	—	—	6th	—	99.6%
market	$10k–$20k • ROUND	2,138	1,314,976	—	73.8%	1.7 bps	—	—	25th	—	100.0%
market	$20k–$50k • ODD	95	3,778	—	—	—	—	—	—	—	—
market	$20k–$50k • ROUND	1,571	1,688,705	—	63.2%	1.2 bps	—	—	20th	—	99.9%
market	$50k–$200k • ROUND	817	1,732,489	—	63.5%	1.2 bps	—	—	36th	—	99.3%
market	≥$200k • ROUND	135	1,063,785	—	36.7%	0.8 bps	—	—	74th	—	94.9%
marketable_limit	<$250 • ODD	233	1,790	—	82.8%	2.9 bps	—	—	44th	—	100.0%
marketable_limit	<$250 • ROUND	9	1,807	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • ODD	372	7,007	—	83.2%	2.5 bps	—	—	46th	—	99.6%
marketable_limit	$250–$999 • ROUND	94	39,533	—	—	—	—	—	—	—	—
marketable_limit	$1k–$5k • ODD	301	9,412	—	79.5%	2.0 bps	—	—	48th	—	100.0%
marketable_limit	$1k–$5k • ROUND	172	125,505	—	57.8%	4.6 bps	—	—	55th	—	98.9%
marketable_limit	$5k–$10k • ODD	66	3,244	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ROUND	110	113,593	—	70.1%	3.1 bps	—	—	62nd	—	99.3%
marketable_limit	$10k–$20k • ODD	13	657	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ROUND	123	155,193	—	65.5%	2.3 bps	—	—	60th	—	99.5%
marketable_limit	$20k–$50k • ROUND	68	128,787	—	—	—	—	—	—	—	—
marketable_limit	$50k–$200k • ROUND	46	714,424	—	—	—	—	—	—	—	—
marketable_limit	≥$200k • ROUND	13	294,639	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • ODD	1,787	16,852	—	100.0%	29.6 bps	—	—	65th	—	32.3%
nonmarketable_limit	<$250 • ROUND	66	19,427	—	—	—	—	—	—	—	—
nonmarketable_limit	$250–$999 • ODD	2,717	49,040	—	100.0%	16.3 bps	—	—	49th	—	32.3%
nonmarketable_limit	$250–$999 • ROUND	372	126,409	—	100.0%	52.5 bps	—	—	56th	—	48.4%
nonmarketable_limit	$1k–$5k • ODD	1,904	54,900	—	100.0%	16.4 bps	—	—	69th	—	35.2%
nonmarketable_limit	$1k–$5k • ROUND	861	463,914	—	100.0%	26.8 bps	—	—	53rd	—	36.0%
nonmarketable_limit	$5k–$10k • ODD	287	13,177	—	100.0%	5.7 bps	—	—	28th	—	47.7%
nonmarketable_limit	$5k–$10k • ROUND	538	726,000	—	100.0%	31.1 bps	—	—	89th	—	23.6%
nonmarketable_limit	$10k–$20k • ODD	63	3,244	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ROUND	581	1,019,766	—	100.0%	21.6 bps	—	—	84th	—	20.2%
nonmarketable_limit	$20k–$50k • ODD	7	568	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	320	684,401	—	100.0%	8.8 bps	—	—	40th	—	13.6%
nonmarketable_limit	$50k–$200k • ROUND	135	578,896	—	100.0%	14.6 bps	—	—	84th	—	8.4%
nonmarketable_limit	≥$200k • ROUND	28	396,674	—	—	—	—	—	—	—	—
market	<$250 • ODD	11,121	17,876	—	96.5%	1.5 bps	—	—	16th	—	99.7%
market	$250–$999 • ODD	28,330	75,251	—	95.2%	1.2 bps	—	—	4th	—	99.8%
market	$1k–$5k • ODD	16,474	157,031	—	93.7%	1.6 bps	—	—	18th	—	99.9%
market	$1k–$5k • ROUND	169	18,543	—	86.2%	1.1 bps	—	—	15th	—	100.0%
market	$5k–$10k • ODD	2,427	61,030	—	93.2%	1.4 bps	—	—	11th	—	100.0%
market	$5k–$10k • ROUND	263	43,321	—	86.0%	0.9 bps	—	—	10th	—	99.5%
market	$10k–$20k • ODD	1,118	37,328	—	94.1%	1.6 bps	—	—	19th	—	99.6%
market	$10k–$20k • ROUND	399	55,742	—	87.4%	1.4 bps	—	—	23rd	—	100.0%
market	$20k–$50k • ODD	227	9,074	—	94.0%	1.8 bps	—	—	15th	—	100.0%
market	$20k–$50k • ROUND	616	107,711	—	88.9%	1.3 bps	—	—	24th	—	99.9%
market	$50k–$200k • ODD	13	432	—	—	—	—	—	—	—	—
market	$50k–$200k • ROUND	431	152,968	—	82.7%	1.4 bps	—	—	30th	—	100.0%
market	≥$200k • ROUND	73	188,405	—	—	—	—	—	—	—	—
marketable_limit	<$250 • ODD	47	99	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • ODD	147	850	—	92.0%	1.6 bps	—	—	51st	—	100.0%
marketable_limit	$1k–$5k • ODD	181	2,720	—	84.4%	1.5 bps	—	—	44th	—	100.0%
marketable_limit	$1k–$5k • ROUND	12	1,697	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ODD	46	1,333	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ROUND	17	2,633	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ODD	29	987	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ROUND	17	2,408	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ODD	7	428	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ROUND	28	4,620	—	—	—	—	—	—	—	—
marketable_limit	$50k–$200k • ROUND	10	9,608	—	—	—	—	—	—	—	—
marketable_limit	≥$200k • ROUND	5	6,132	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • ODD	460	1,279	—	100.0%	3.7 bps	—	—	32nd	—	31.8%
nonmarketable_limit	$250–$999 • ODD	1,511	8,122	—	100.0%	3.0 bps	—	—	17th	—	42.0%
nonmarketable_limit	$1k–$5k • ODD	1,583	21,364	—	100.0%	4.8 bps	—	—	63rd	—	49.8%
nonmarketable_limit	$1k–$5k • ROUND	48	5,642	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ODD	425	11,055	—	100.0%	4.1 bps	—	—	51st	—	59.7%
nonmarketable_limit	$5k–$10k • ROUND	83	14,091	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ODD	226	8,396	—	100.0%	3.6 bps	—	—	34th	—	75.6%
nonmarketable_limit	$10k–$20k • ROUND	117	17,536	—	100.0%	3.0 bps	—	—	28th	—	36.7%
nonmarketable_limit	$20k–$50k • ODD	49	1,647	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	205	52,478	—	100.0%	5.1 bps	—	—	81st	—	38.4%
nonmarketable_limit	$50k–$200k • ODD	1	35	—	—	—	—	—	—	—	—
nonmarketable_limit	$50k–$200k • ROUND	107	36,483	—	100.0%	3.3 bps	—	—	56th	—	60.8%
nonmarketable_limit	≥$200k • ROUND	64	58,699	—	—	—	—	—	—	—	—

2. Broker-Dealers Routing Here (Reverse 606 Index)

Firms directing customer order flow to this market center under SEC Rule 606(a), with route percentages and PFOF rates.

No broker-dealers identified routing flow to this market center in 2026Q3.

3. Rule 605 Report Files & Ingestion History

Published monthly execution quality data files crawled from vendor and exchange landing pages.

File Name	Month	Kind	Status	Fetched At	Source URL
AVNU202608.zip	202608	detailed	stored	2026-09-30T21:17:20.841259987+00:00	File Link ↗
AVNU202608.csv	202608	summary	stored	2026-09-30T21:17:20.841261530+00:00	File Link ↗

4. Coverage Gaps & Review Limitations

Suppressed Cells

Tiers with < 100 covered orders

Missing Files

Months unretrievable

Methodological Caveats:

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.
Brokers routing here reflect venue aliases as of the last crosswalk-venues run.

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