BNP PARIBAS SECURITIES CORP.

Reporter ID: BNPX • Quarter: 2026Q3 • Methodology: exq-3

Status: ACTIVE

Generated: Thu, 15 Oct 2026 22:39:03 GMT

Quarter:2026Q3

Covered Orders590,421Across all reported tiers

Covered Shares192,302,778In Q3 2026

Active Tiers57Order 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
Marketable Limit	<$250 • Odd Lot	623	165,453	3.1%	42.2%	3.6 bps	—	0%	50th	$0.0092	100.0%
Marketable Limit	<$250 • Round Lot	6,100	2,067,500	3.8%	31.5%	1.1 bps	-34.7 bps	8%	19th	$0.0097	100.0%
Marketable Limit	$250–$999 • Odd Lot	2,089	424,994	29.5%	22.4%	4.0 bps	—	0%	63rd	$0.0280	100.0%
Marketable Limit	$250–$999 • Round Lot	15,141	4,515,700	14.8%	9.9%	1.9 bps	-0.1 bps	5%	35th	$0.0240	100.0%
Marketable Limit	$1k–$5k • Odd Lot	15,293	2,896,837	58.1%	39.4%	3.8 bps	-3.8 bps	2%	75th	$0.0598	100.0%
Marketable Limit	$1k–$5k • Round Lot	50,154	8,692,200	52.3%	26.8%	2.4 bps	-3.2 bps	20%	43rd	$0.0574	100.0%
Marketable Limit	$5k–$10k • Odd Lot	9,625	2,577,912	46.3%	55.5%	3.2 bps	0.8 bps	1%	80th	$0.1321	100.0%
Marketable Limit	$5k–$10k • Round Lot	23,886	5,875,500	42.8%	41.9%	2.0 bps	-1.7 bps	8%	46th	$0.1092	100.0%
Marketable Limit	$10k–$20k • Odd Lot	8,870	4,263,897	29.8%	56.5%	2.6 bps	0.3 bps	1%	59th	$0.2016	100.0%
Marketable Limit	$10k–$20k • Round Lot	28,554	12,710,400	17.6%	46.4%	2.0 bps	-2.5 bps	9%	53rd	$0.1685	100.0%
Marketable Limit	$20k–$50k • Odd Lot	7,180	7,210,427	13.4%	58.8%	2.5 bps	-1.5 bps	10%	66th	$0.3618	100.0%
Marketable Limit	$20k–$50k • Round Lot	12,286	10,727,300	13.9%	46.0%	1.8 bps	-1.7 bps	14%	57th	$0.2488	100.0%
Marketable Limit	$50k–$200k • Odd Lot	2,202	5,562,300	5.6%	43.7%	1.7 bps	—	0%	—	$0.3327	100.0%
Marketable Limit	$50k–$200k • Round Lot	5,642	15,425,000	3.5%	36.8%	1.3 bps	—	0%	65th	$0.2597	100.0%
Marketable Limit	≥$200k • Odd Lot	121	445,961	4.3%	19.1%	0.5 bps	—	0%	—	$0.2114	100.0%
Marketable Limit	≥$200k • Round Lot	280	1,421,300	11.4%	4.5%	0.3 bps	—	0%	85th	$0.0300	100.0%
Non-Marketable Limit	<$250 • Odd Lot	13,240	2,592,804	0.1%	100.0%	13.4 bps	139.4 bps	67%	24th	$0.0061	100.0%
Non-Marketable Limit	<$250 • Round Lot	70,709	18,464,700	0.4%	100.0%	16.5 bps	64.5 bps	58%	1st	$0.0102	100.0%
Non-Marketable Limit	$250–$999 • Odd Lot	5,717	1,197,918	0.4%	100.0%	27.2 bps	96.7 bps	13%	86th	$0.0135	100.0%
Non-Marketable Limit	$250–$999 • Round Lot	35,658	8,587,100	0.9%	100.0%	28.2 bps	167.3 bps	45%	26th	$0.0358	100.0%
Non-Marketable Limit	$1k–$5k • Odd Lot	7,898	1,604,685	2.1%	100.0%	13.3 bps	65.6 bps	1%	62nd	$0.0175	100.0%
Non-Marketable Limit	$1k–$5k • Round Lot	58,846	9,189,300	2.3%	100.0%	9.5 bps	77.3 bps	23%	15th	$0.0529	100.0%
Non-Marketable Limit	$5k–$10k • Odd Lot	3,648	1,169,147	0.8%	100.0%	13.2 bps	43.0 bps	1%	78th	$0.0576	100.0%
Non-Marketable Limit	$5k–$10k • Round Lot	30,696	6,238,100	1.7%	100.0%	6.1 bps	30.0 bps	23%	5th	$0.1023	100.0%
Non-Marketable Limit	$10k–$20k • Odd Lot	2,882	1,369,887	0.8%	100.0%	14.7 bps	—	0%	75th	$0.2355	100.0%
Non-Marketable Limit	$10k–$20k • Round Lot	48,020	15,428,300	0.5%	100.0%	6.4 bps	29.0 bps	31%	22nd	$0.1277	100.0%
Non-Marketable Limit	$20k–$50k • Odd Lot	2,762	2,199,228	0.4%	100.0%	9.2 bps	—	0%	39th	$0.2934	100.0%
Non-Marketable Limit	$20k–$50k • Round Lot	33,536	18,091,300	0.2%	100.0%	6.6 bps	36.5 bps	34%	25th	$0.2009	100.0%
Non-Marketable Limit	$50k–$200k • Odd Lot	1,491	2,342,657	0.1%	100.0%	5.6 bps	—	0%	—	$0.2898	100.0%
Non-Marketable Limit	$50k–$200k • Round Lot	3,459	4,364,000	0.1%	100.0%	3.4 bps	55.5 bps	5%	7th	$0.4519	100.0%
Non-Marketable Limit	≥$200k • Odd Lot	91	216,626	—	—	—	—	—	—	—	—
Non-Marketable Limit	≥$200k • Round Lot	113	480,300	0.0%	100.0%	0.4 bps	—	0%	0th	$0.4700	100.0%
Marketable Limit	$250–$999 • Round Lot	1	100	—	—	—	—	—	—	—	—
Marketable Limit	$1k–$5k • Odd Lot	323	43,476	61.8%	3.1%	0.1 bps	—	0%	13th	$0.0131	100.0%
Marketable Limit	$1k–$5k • Round Lot	2,136	230,300	81.5%	1.6%	0.0 bps	-10.6 bps	10%	16th	$0.0140	100.0%
Marketable Limit	$5k–$10k • Odd Lot	1,183	178,872	78.3%	26.1%	0.6 bps	—	0%	36th	$0.0299	100.0%
Marketable Limit	$5k–$10k • Round Lot	6,899	777,100	82.8%	15.0%	0.3 bps	-2.2 bps	25%	44th	$0.0318	100.0%
Marketable Limit	$10k–$20k • Odd Lot	3,318	569,520	80.7%	40.3%	0.9 bps	-2.2 bps	11%	42nd	$0.0721	100.0%
Marketable Limit	$10k–$20k • Round Lot	9,854	1,462,300	73.6%	31.9%	0.6 bps	-2.7 bps	27%	39th	$0.0716	100.0%
Marketable Limit	$20k–$50k • Odd Lot	5,546	1,076,210	78.4%	50.5%	0.9 bps	-25.3 bps	11%	46th	$0.1639	100.0%
Marketable Limit	$20k–$50k • Round Lot	10,583	2,064,900	66.3%	38.2%	0.6 bps	-3.0 bps	22%	35th	$0.1235	100.0%
Marketable Limit	$50k–$200k • Odd Lot	3,396	792,051	68.7%	60.1%	1.0 bps	0.1 bps	3%	52nd	$0.3462	100.0%
Marketable Limit	$50k–$200k • Round Lot	2,957	1,085,600	56.9%	50.7%	0.7 bps	-2.7 bps	8%	39th	$0.2311	100.0%
Marketable Limit	≥$200k • Odd Lot	384	238,038	69.5%	31.5%	0.4 bps	—	0%	—	$0.3432	100.0%
Marketable Limit	≥$200k • Round Lot	168	235,400	21.2%	38.8%	0.4 bps	—	0%	73rd	$0.3641	100.0%
Non-Marketable Limit	$1k–$5k • Odd Lot	84	11,527	—	—	—	—	—	—	—	—
Non-Marketable Limit	$1k–$5k • Round Lot	733	77,200	3.2%	100.0%	2.6 bps	16.0 bps	4%	27th	$0.0024	100.0%
Non-Marketable Limit	$5k–$10k • Odd Lot	288	47,549	1.7%	100.0%	3.1 bps	—	0%	23rd	$0.0196	100.0%
Non-Marketable Limit	$5k–$10k • Round Lot	4,794	511,000	4.2%	100.0%	2.6 bps	18.1 bps	38%	28th	$0.0271	100.0%
Non-Marketable Limit	$10k–$20k • Odd Lot	862	150,752	2.6%	100.0%	3.3 bps	11.6 bps	9%	34th	$0.0201	100.0%
Non-Marketable Limit	$10k–$20k • Round Lot	14,204	1,607,300	2.2%	100.0%	3.0 bps	27.8 bps	57%	28th	$0.0646	100.0%
Non-Marketable Limit	$20k–$50k • Odd Lot	1,636	309,427	2.1%	100.0%	4.2 bps	—	0%	63rd	$0.0763	100.0%
Non-Marketable Limit	$20k–$50k • Round Lot	12,538	1,695,600	1.9%	100.0%	2.8 bps	21.3 bps	43%	27th	$0.1229	100.0%
Non-Marketable Limit	$50k–$200k • Odd Lot	575	209,615	2.0%	100.0%	2.6 bps	—	0%	14th	$0.3048	100.0%
Non-Marketable Limit	$50k–$200k • Round Lot	1,059	315,700	2.7%	100.0%	2.6 bps	17.5 bps	12%	22nd	$0.3234	100.0%
Non-Marketable Limit	≥$200k • Odd Lot	43	29,708	—	—	—	—	—	—	—	—
Non-Marketable Limit	≥$200k • Round Lot	45	64,800	—	—	—	—	—	—	—	—

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
bnpx202608-detailed-report.zip	202608	detailed	stored	2026-10-15T20:10:49.956497246+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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