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Rule 605 Market Center Scorecard
Cboe BYX Exchange
Status: ACTIVE
Generated: Wed, 14 Oct 2026 18:31:28 GMT
Quarter:2026Q3
Covered Orders8,247,793,079Across all reported tiers
Covered Shares3,011,753,845,618In Q3 2026
Active Tiers85Order 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 | 376 | 10,893 | 12.4% | 59.1% | 40.3 bps | — | 0% | 96th | $0.1456 | 96.3% |
| market | <$250 • ROUND | 422 | 416,350 | 4.1% | 76.0% | 354.2 bps | — | 0% | 100th | $-0.2010 | 98.2% |
| market | $250–$999 • ODD | 34 | 1,176 | — | — | — | — | — | — | — | — |
| market | $250–$999 • ROUND | 397 | 144,963 | 19.3% | 52.6% | 11.9 bps | — | 0% | 32nd | $-0.5883 | 97.4% |
| market | $1k–$5k • ODD | 46 | 1,203 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ROUND | 825 | 401,462 | 30.0% | 46.0% | 0.4 bps | — | 0% | 6th | $0.6911 | 93.7% |
| market | $5k–$10k • ODD | 19 | 1,004 | — | — | — | — | — | — | — | — |
| market | $5k–$10k • ROUND | 377 | 344,175 | 20.6% | 49.4% | 24.0 bps | — | 0% | 100th | $1.7628 | 95.5% |
| market | $10k–$20k • ODD | 5 | 250 | — | — | — | — | — | — | — | — |
| market | $10k–$20k • ROUND | 399 | 203,639 | 39.4% | 41.8% | 3.8 bps | — | 0% | 53rd | $2.9276 | 100.0% |
| market | $20k–$50k • ODD | 1 | 99 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ROUND | 596 | 261,837 | 48.6% | 47.4% | 15.9 bps | 9.7 bps | 32% | 99th | $4.5817 | 96.2% |
| market | $50k–$200k • ROUND | 140 | 664,578 | 6.9% | 45.3% | -3.3 bps | — | 0% | 1st | $6.2711 | 100.0% |
| market | ≥$200k • ROUND | 8 | 43,264 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • ODD | 36,246,036 | 369,499,509 | 6.7% | 11.4% | -13.0 bps | -2.5 bps | 100% | 5th | $0.0390 | 91.9% |
| marketable_limit | <$250 • ROUND | 6,648,550 | 1,162,404,421 | 2.8% | 11.6% | -77.9 bps | -18.4 bps | 100% | 7th | $0.0307 | 90.1% |
| marketable_limit | $250–$999 • ODD | 55,288,698 | 1,282,646,103 | 2.2% | 11.5% | -16.2 bps | -4.1 bps | 99% | 5th | $0.1126 | 91.6% |
| marketable_limit | $250–$999 • ROUND | 25,263,472 | 6,295,147,873 | 1.9% | 11.1% | -34.8 bps | -7.1 bps | 100% | 6th | $0.0436 | 87.3% |
| marketable_limit | $1k–$5k • ODD | 73,582,966 | 2,849,449,971 | 1.2% | 13.0% | -16.9 bps | -3.9 bps | 99% | 2nd | $0.1934 | 92.2% |
| marketable_limit | $1k–$5k • ROUND | 129,985,672 | 27,931,217,396 | 1.3% | 13.1% | -17.8 bps | -3.9 bps | 100% | 6th | $0.0795 | 86.3% |
| marketable_limit | $5k–$10k • ODD | 23,750,280 | 1,185,129,920 | 0.7% | 10.3% | -22.8 bps | -5.1 bps | 99% | 3rd | $1.0353 | 92.4% |
| marketable_limit | $5k–$10k • ROUND | 85,251,946 | 25,887,349,642 | 0.7% | 16.0% | -13.1 bps | -2.4 bps | 99% | 3rd | $0.1228 | 85.8% |
| marketable_limit | $10k–$20k • ODD | 7,750,620 | 375,010,080 | 0.5% | 13.0% | -15.0 bps | -2.5 bps | 98% | 2nd | $1.0518 | 94.8% |
| marketable_limit | $10k–$20k • ROUND | 89,105,982 | 40,112,473,915 | 0.4% | 18.5% | -12.4 bps | -2.1 bps | 99% | 3rd | $0.1714 | 85.4% |
| marketable_limit | $20k–$50k • ODD | 85,028 | 5,150,828 | 1.7% | 15.7% | -11.9 bps | -1.1 bps | 89% | 7th | $1.3725 | 95.6% |
| marketable_limit | $20k–$50k • ROUND | 81,971,280 | 78,201,996,504 | 0.2% | 21.3% | -11.1 bps | -1.6 bps | 98% | 3rd | $0.1807 | 84.9% |
| marketable_limit | $50k–$200k • ROUND | 39,686,732 | 106,174,993,347 | 0.2% | 23.2% | -9.2 bps | -1.5 bps | 97% | 4th | $0.1584 | 83.3% |
| marketable_limit | ≥$200k • ROUND | 10,411,621 | 139,220,956,971 | 0.0% | 23.5% | -8.3 bps | -1.5 bps | 93% | 4th | $0.2133 | 82.0% |
| nonmarketable_limit | <$250 • ODD | 200,563,018 | 1,945,846,760 | 2.4% | 99.7% | 181.8 bps | 69.6 bps | 100% | 97th | $0.3625 | 72.2% |
| nonmarketable_limit | <$250 • ROUND | 59,767,054 | 10,459,775,589 | 0.8% | 99.7% | 253.4 bps | 132.4 bps | 100% | 97th | $0.1434 | 67.8% |
| nonmarketable_limit | $250–$999 • ODD | 710,531,748 | 10,853,094,070 | 0.6% | 99.7% | 148.5 bps | 51.0 bps | 100% | 100th | $0.6889 | 76.9% |
| nonmarketable_limit | $250–$999 • ROUND | 178,692,167 | 46,262,036,755 | 0.5% | 99.4% | 145.9 bps | 76.9 bps | 100% | 94th | $0.1653 | 64.1% |
| nonmarketable_limit | $1k–$5k • ODD | 669,339,785 | 21,548,109,633 | 0.4% | 99.6% | 125.3 bps | 39.6 bps | 100% | 100th | $1.9242 | 80.0% |
| nonmarketable_limit | $1k–$5k • ROUND | 916,148,408 | 174,341,673,844 | 0.4% | 99.3% | 113.3 bps | 54.6 bps | 100% | 95th | $0.4463 | 66.0% |
| nonmarketable_limit | $5k–$10k • ODD | 201,041,948 | 9,687,609,594 | 0.3% | 99.5% | 117.9 bps | 43.8 bps | 100% | 100th | $3.1209 | 81.9% |
| nonmarketable_limit | $5k–$10k • ROUND | 776,667,451 | 172,626,126,985 | 0.2% | 99.2% | 105.2 bps | 50.9 bps | 100% | 100th | $0.6595 | 66.5% |
| nonmarketable_limit | $10k–$20k • ODD | 65,378,974 | 3,240,726,486 | 0.2% | 99.6% | 129.5 bps | 43.8 bps | 100% | 100th | $4.8073 | 84.5% |
| nonmarketable_limit | $10k–$20k • ROUND | 883,199,717 | 270,360,776,952 | 0.1% | 99.2% | 105.2 bps | 49.7 bps | 99% | 100th | $1.1103 | 65.2% |
| nonmarketable_limit | $20k–$50k • ODD | 977,361 | 61,702,442 | 0.7% | 99.9% | 134.6 bps | 50.0 bps | 100% | 98th | $12.0791 | 90.0% |
| nonmarketable_limit | $20k–$50k • ROUND | 754,301,687 | 517,537,681,830 | 0.1% | 99.3% | 95.8 bps | 40.8 bps | 99% | 99th | $1.2096 | 64.5% |
| nonmarketable_limit | $50k–$200k • ODD | 2 | 18 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $50k–$200k • ROUND | 344,767,025 | 655,321,471,042 | 0.0% | 99.2% | 77.6 bps | 33.1 bps | 98% | 99th | $0.9705 | 64.5% |
| nonmarketable_limit | ≥$200k • ROUND | 73,231,451 | 483,547,344,259 | 0.0% | 97.6% | 58.2 bps | 28.7 bps | 92% | 99th | $0.8791 | 57.0% |
| market | <$250 • ODD | 8 | 23 | — | — | — | — | — | — | — | — |
| market | $250–$999 • ODD | 10 | 209 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ODD | 10 | 140 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ROUND | 29 | 3,100 | — | — | — | — | — | — | — | — |
| market | $5k–$10k • ODD | 14 | 470 | — | — | — | — | — | — | — | — |
| market | $5k–$10k • ROUND | 20 | 4,200 | — | — | — | — | — | — | — | — |
| market | $10k–$20k • ODD | 8 | 195 | — | — | — | — | — | — | — | — |
| market | $10k–$20k • ROUND | 203 | 21,324 | 100.0% | 72.2% | 32.6 bps | 6.3 bps | 71% | 99th | $0.7048 | 100.0% |
| market | $20k–$50k • ODD | 1 | 30 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ROUND | 146 | 29,390 | 98.3% | 60.1% | 15.7 bps | — | 0% | 97th | $0.4647 | 100.0% |
| market | $50k–$200k • ROUND | 16 | 5,360 | — | — | — | — | — | — | — | — |
| market | ≥$200k • ROUND | 10 | 39,986 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • ODD | 2,305,718 | 5,125,129 | 16.7% | 7.0% | -7.1 bps | -1.3 bps | 100% | 3rd | $0.0997 | 82.7% |
| marketable_limit | <$250 • ROUND | 1 | 150 | — | — | — | — | — | — | — | — |
| marketable_limit | $250–$999 • ODD | 8,914,998 | 48,263,439 | 5.9% | 8.0% | -10.4 bps | -1.8 bps | 100% | 3rd | $0.2573 | 81.9% |
| marketable_limit | $250–$999 • ROUND | 19,125 | 1,916,463 | 5.5% | 10.3% | -6.7 bps | -1.3 bps | 100% | 4th | $0.0677 | 80.2% |
| marketable_limit | $1k–$5k • ODD | 23,231,022 | 601,789,370 | 1.6% | 7.3% | -15.9 bps | -3.4 bps | 100% | 1st | $0.6023 | 88.9% |
| marketable_limit | $1k–$5k • ROUND | 9,088,049 | 1,052,389,945 | 2.2% | 12.9% | -9.1 bps | -3.2 bps | 100% | 5th | $0.0873 | 81.5% |
| marketable_limit | $5k–$10k • ODD | 19,668,602 | 740,757,626 | 0.7% | 8.5% | -20.4 bps | -4.1 bps | 100% | 1st | $1.5408 | 89.7% |
| marketable_limit | $5k–$10k • ROUND | 15,271,282 | 2,217,964,100 | 1.1% | 12.9% | -8.2 bps | -2.2 bps | 100% | 5th | $0.1554 | 81.6% |
| marketable_limit | $10k–$20k • ODD | 12,531,109 | 508,719,440 | 0.5% | 9.7% | -15.2 bps | -3.3 bps | 100% | 1st | $1.6554 | 93.2% |
| marketable_limit | $10k–$20k • ROUND | 36,217,602 | 4,622,225,958 | 0.6% | 14.3% | -12.4 bps | -3.3 bps | 100% | 1st | $0.7883 | 81.8% |
| marketable_limit | $20k–$50k • ODD | 1,983,317 | 57,904,585 | 0.6% | 11.7% | -14.3 bps | -2.4 bps | 99% | 3rd | $2.4167 | 96.9% |
| marketable_limit | $20k–$50k • ROUND | 47,619,635 | 7,650,701,153 | 0.3% | 14.5% | -14.6 bps | -3.5 bps | 100% | 1st | $1.2631 | 82.2% |
| marketable_limit | $50k–$200k • ODD | 146 | 1,260 | 1.4% | 100.0% | 34.8 bps | 1.7 bps | 100% | 100th | $-57.2546 | 0.0% |
| marketable_limit | $50k–$200k • ROUND | 28,333,540 | 7,107,968,478 | 0.2% | 12.4% | -17.0 bps | -1.1 bps | 100% | 1st | $2.1906 | 83.2% |
| marketable_limit | ≥$200k • ROUND | 4,241,307 | 4,499,718,252 | 0.2% | 13.7% | -12.4 bps | -2.3 bps | 98% | 3rd | $2.0843 | 80.1% |
| nonmarketable_limit | <$250 • ODD | 8,974,526 | 16,588,835 | 9.9% | 99.6% | 73.8 bps | 22.8 bps | 100% | 97th | $0.6603 | 62.9% |
| nonmarketable_limit | <$250 • ROUND | 74 | 31,900 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ODD | 60,521,768 | 300,822,178 | 2.1% | 99.6% | 72.5 bps | 22.7 bps | 100% | 100th | $1.2191 | 66.3% |
| nonmarketable_limit | $250–$999 • ROUND | 109,746 | 10,991,140 | 2.3% | 99.0% | 50.4 bps | 50.4 bps | 100% | 86th | $0.1612 | 67.3% |
| nonmarketable_limit | $1k–$5k • ODD | 156,417,764 | 3,583,783,870 | 0.7% | 99.6% | 76.6 bps | 24.4 bps | 100% | 100th | $2.3215 | 80.2% |
| nonmarketable_limit | $1k–$5k • ROUND | 31,116,649 | 3,442,830,720 | 1.1% | 99.2% | 32.0 bps | 20.2 bps | 100% | 97th | $0.3240 | 66.7% |
| nonmarketable_limit | $5k–$10k • ODD | 159,255,121 | 5,941,925,629 | 0.3% | 99.2% | 80.3 bps | 27.8 bps | 100% | 100th | $4.0069 | 79.1% |
| nonmarketable_limit | $5k–$10k • ROUND | 77,492,179 | 9,639,615,548 | 0.5% | 99.2% | 55.2 bps | 25.4 bps | 100% | 98th | $0.6492 | 71.3% |
| nonmarketable_limit | $10k–$20k • ODD | 91,274,857 | 3,674,702,658 | 0.3% | 99.3% | 77.2 bps | 26.2 bps | 100% | 100th | $4.7430 | 84.0% |
| nonmarketable_limit | $10k–$20k • ROUND | 310,764,636 | 30,287,088,006 | 0.3% | 99.2% | 77.8 bps | 37.9 bps | 100% | 100th | $2.6603 | 72.5% |
| nonmarketable_limit | $20k–$50k • ODD | 10,915,851 | 322,507,726 | 0.3% | 99.8% | 72.3 bps | 22.4 bps | 100% | 100th | $7.8556 | 92.5% |
| nonmarketable_limit | $20k–$50k • ROUND | 415,788,261 | 52,581,437,291 | 0.2% | 99.3% | 82.7 bps | 44.4 bps | 100% | 100th | $4.1463 | 74.6% |
| nonmarketable_limit | $50k–$200k • ODD | 4,977 | 41,556 | 0.3% | 100.0% | 26.6 bps | 25.5 bps | 100% | 95th | $41.6157 | 86.7% |
| nonmarketable_limit | $50k–$200k • ROUND | 195,644,010 | 46,597,851,584 | 0.1% | 99.3% | 70.6 bps | 27.5 bps | 100% | 100th | $6.5644 | 77.0% |
| nonmarketable_limit | ≥$200k • ROUND | 20,446,408 | 17,388,179,570 | 0.1% | 97.3% | 51.6 bps | 21.1 bps | 100% | 100th | $4.6628 | 65.4% |
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 |
|---|---|---|---|---|---|
| BYXX202607.zip | 202607 | detailed | stored | 2026-09-28T20:18:20.533+00:00 | File Link ↗ |
| BYXX202608.zip | 202608 | detailed | stored | 2026-09-29T17:30:25.253545+00:00 | File Link ↗ |
| BYXX202608.csv | 202608 | summary | stored | 2026-09-28T17:55:06.332+00:00 | File Link ↗ |
| BYXX202609.csv | 202609 | summary | stored | 2026-10-05T20:24:25.783+00:00 | File Link ↗ |
| BYXX202609.zip | 202609 | detailed | too_large | 2026-10-05T20:24:27.978+00:00 | File Link ↗ |
4. Coverage Gaps & Review Limitations
Suppressed Cells
19
Tiers with < 100 covered ordersMissing Files
0
Months unretrievableMethodological 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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