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Rule 605 Market Center Scorecard
DAVIDSON (D.A.) & CO. INC.
Status: ACTIVE
Generated: Wed, 14 Oct 2026 18:30:45 GMT
Quarter:2026Q3
Covered Orders71,017Across all reported tiers
Covered Shares13,503,181In Q3 2026
Active Tiers64Order 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 | 1,443 | 6,459 | — | 97.4% | 2.6 bps | — | — | 10th | — | 97.1% |
| market | <$250 • ROUND | 8 | 1,035 | — | — | — | — | — | — | — | — |
| market | $250–$999 • ODD | 5,578 | 68,166 | — | 97.5% | 2.0 bps | — | — | 10th | — | 99.5% |
| market | $250–$999 • ROUND | 88 | 26,644 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ODD | 8,728 | 268,052 | — | 95.2% | 1.4 bps | — | — | 5th | — | 99.9% |
| market | $1k–$5k • ROUND | 1,507 | 324,169 | — | 96.6% | 1.8 bps | — | — | 9th | — | 99.9% |
| market | $5k–$10k • ODD | 2,058 | 98,361 | — | 94.4% | 1.5 bps | — | — | 10th | — | 99.7% |
| market | $5k–$10k • ROUND | 2,293 | 610,802 | — | 94.1% | 1.1 bps | — | — | 4th | — | 99.4% |
| market | $10k–$20k • ODD | 772 | 43,873 | — | 93.4% | 1.2 bps | — | — | 3rd | — | 99.7% |
| market | $10k–$20k • ROUND | 2,765 | 1,010,976 | — | 93.6% | 1.1 bps | — | — | 11th | — | 99.5% |
| market | $20k–$50k • ODD | 76 | 5,277 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ROUND | 2,948 | 1,917,415 | — | 91.3% | 0.8 bps | — | — | 11th | — | 99.6% |
| market | $50k–$200k • ROUND | 1,614 | 2,837,357 | 0.0% | 75.0% | 0.3 bps | — | 0% | 21st | $0.2000 | 97.5% |
| market | ≥$200k • ROUND | 301 | 1,605,942 | — | 56.5% | 0.3 bps | — | — | 64th | — | 94.4% |
| marketable_limit | $1k–$5k • ODD | 10 | 637 | — | — | — | — | — | — | — | — |
| marketable_limit | $1k–$5k • ROUND | 11 | 9,810 | — | — | — | — | — | — | — | — |
| marketable_limit | $5k–$10k • ODD | 3 | 116 | — | — | — | — | — | — | — | — |
| marketable_limit | $5k–$10k • ROUND | 16 | 16,605 | — | — | — | — | — | — | — | — |
| marketable_limit | $10k–$20k • ODD | 1 | 76 | — | — | — | — | — | — | — | — |
| marketable_limit | $10k–$20k • ROUND | 26 | 51,212 | — | — | — | — | — | — | — | — |
| marketable_limit | $20k–$50k • ROUND | 65 | 141,698 | — | — | — | — | — | — | — | — |
| marketable_limit | $50k–$200k • ROUND | 79 | 411,350 | — | — | — | — | — | — | — | — |
| marketable_limit | ≥$200k • ROUND | 13 | 144,044 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ODD | 1 | 16 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ROUND | 1 | 400 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ODD | 28 | 1,390 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ROUND | 60 | 30,043 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ODD | 12 | 527 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ROUND | 51 | 85,124 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ODD | 6 | 381 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ROUND | 59 | 80,020 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $20k–$50k • ROUND | 71 | 120,630 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $50k–$200k • ROUND | 50 | 161,410 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | ≥$200k • ROUND | 7 | 100,647 | — | — | — | — | — | — | — | — |
| market | <$250 • ODD | 1,589 | 3,598 | — | 99.4% | 1.7 bps | — | — | 17th | — | 100.0% |
| market | $250–$999 • ODD | 9,232 | 45,477 | — | 98.9% | 1.6 bps | — | — | 18th | — | 99.8% |
| market | $250–$999 • ROUND | 1 | 119 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ODD | 14,701 | 228,589 | — | 98.7% | 1.4 bps | — | — | 11th | — | 99.6% |
| market | $1k–$5k • ROUND | 337 | 41,064 | — | 99.9% | 0.8 bps | — | — | 5th | — | 100.0% |
| market | $5k–$10k • ODD | 4,702 | 150,519 | — | 97.6% | 1.4 bps | — | — | 7th | — | 99.6% |
| market | $5k–$10k • ROUND | 733 | 130,122 | — | 98.8% | 0.8 bps | — | — | 7th | — | 100.0% |
| market | $10k–$20k • ODD | 2,361 | 101,975 | — | 98.2% | 1.5 bps | — | — | 13th | — | 100.0% |
| market | $10k–$20k • ROUND | 1,800 | 318,115 | — | 98.3% | 0.9 bps | — | — | 6th | — | 99.9% |
| market | $20k–$50k • ODD | 372 | 17,625 | — | 96.6% | 1.6 bps | — | — | 10th | — | 100.0% |
| market | $20k–$50k • ROUND | 2,751 | 600,083 | — | 97.5% | 1.1 bps | — | — | 14th | — | 99.9% |
| market | $50k–$200k • ODD | 1 | 9 | — | — | — | — | — | — | — | — |
| market | $50k–$200k • ROUND | 1,324 | 841,180 | — | 91.9% | 1.0 bps | — | — | 18th | — | 100.0% |
| market | ≥$200k • ROUND | 277 | 780,149 | — | 58.8% | 0.2 bps | — | — | 23rd | — | 97.4% |
| marketable_limit | $1k–$5k • ODD | 5 | 67 | — | — | — | — | — | — | — | — |
| marketable_limit | $5k–$10k • ODD | 1 | 10 | — | — | — | — | — | — | — | — |
| marketable_limit | $10k–$20k • ODD | 4 | 253 | — | — | — | — | — | — | — | — |
| marketable_limit | $10k–$20k • ROUND | 3 | 1,072 | — | — | — | — | — | — | — | — |
| marketable_limit | $20k–$50k • ROUND | 5 | 2,910 | — | — | — | — | — | — | — | — |
| marketable_limit | $50k–$200k • ROUND | 3 | 1,005 | — | — | — | — | — | — | — | — |
| marketable_limit | ≥$200k • ROUND | 6 | 24,900 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ODD | 1 | 30 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ODD | 12 | 213 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ODD | 10 | 256 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ROUND | 1 | 200 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ODD | 6 | 151 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ROUND | 6 | 1,070 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $20k–$50k • ROUND | 8 | 696 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $50k–$200k • ROUND | 13 | 14,560 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | ≥$200k • ROUND | 3 | 16,500 | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|
| DADA202608.csv | 202608 | summary | stored | 2026-09-30T21:17:20.841277050+00:00 | File Link ↗ |
| DADA202608.zip | 202608 | detailed | stored | 2026-09-30T21:17:20.841278212+00:00 | File Link ↗ |
4. Coverage Gaps & Review Limitations
Suppressed Cells
41
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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