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Rule 605 Market Center Scorecard
ETORO USA SECURITIES INC.
Status: ACTIVE
Generated: Wed, 14 Oct 2026 19:28:50 GMT
Quarter:2026Q3
Covered Orders77,583Across all reported tiers
Covered Shares6,154,800In Q3 2026
Active Tiers33Order 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 • FRACT | 14,576 | 4,358 | — | 99.5% | 2.3 bps | — | — | 39th | — | 99.8% |
| market | <$250 • ODD | 14,454 | 87,376 | — | 96.1% | 4.1 bps | — | — | 20th | — | 100.0% |
| market | <$250 • ROUND | 128 | 27,466 | — | 69.9% | 8.1 bps | — | — | 11th | — | 100.0% |
| market | $250–$999 • FRACT | 335 | 201 | — | 97.0% | 0.6 bps | — | — | 22nd | — | 100.0% |
| market | $250–$999 • ODD | 5,085 | 87,457 | — | 95.4% | 2.8 bps | — | — | 16th | — | 99.9% |
| market | $250–$999 • ROUND | 545 | 205,473 | — | 85.4% | 6.4 bps | — | — | 6th | — | 100.0% |
| market | $1k–$5k • FRACT | 8 | 6 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ODD | 3,114 | 95,785 | — | 92.6% | 2.3 bps | — | — | 14th | — | 100.0% |
| market | $1k–$5k • ROUND | 1,702 | 931,612 | — | 60.1% | 3.9 bps | — | — | 20th | — | 100.0% |
| market | $5k–$10k • ODD | 408 | 20,163 | — | 96.0% | 2.5 bps | — | — | 27th | — | 100.0% |
| market | $5k–$10k • ROUND | 713 | 468,185 | — | 72.7% | 1.8 bps | — | — | 11th | — | 100.0% |
| market | $10k–$20k • ODD | 76 | 5,474 | — | — | — | — | — | — | — | — |
| market | $10k–$20k • ROUND | 611 | 2,598,607 | — | 23.6% | 0.9 bps | — | — | 8th | — | 100.0% |
| market | $20k–$50k • ODD | 3 | 279 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ROUND | 261 | 583,826 | — | 73.3% | 1.1 bps | — | — | 16th | — | 99.6% |
| market | $50k–$200k • ROUND | 129 | 862,479 | — | 27.5% | 0.3 bps | — | — | 19th | — | 100.0% |
| marketable_limit | <$250 • ODD | 1 | 10 | — | — | — | — | — | — | — | — |
| market | <$250 • FRACT | 21,521 | 4,156 | — | 99.6% | 1.4 bps | — | — | 33rd | — | 99.2% |
| market | <$250 • ODD | 2,716 | 4,657 | — | 97.1% | 1.7 bps | — | — | 20th | — | 99.8% |
| market | $250–$999 • FRACT | 1,346 | 838 | — | 99.5% | 1.4 bps | — | — | 22nd | — | 99.9% |
| market | $250–$999 • ODD | 4,267 | 16,731 | — | 95.9% | 1.4 bps | — | — | 14th | — | 99.9% |
| market | $1k–$5k • FRACT | 107 | 91 | — | 100.0% | 2.0 bps | — | — | 29th | — | 100.0% |
| market | $1k–$5k • ODD | 3,608 | 39,019 | — | 95.9% | 1.5 bps | — | — | 13th | — | 99.8% |
| market | $1k–$5k • ROUND | 57 | 7,004 | — | — | — | — | — | — | — | — |
| market | $5k–$10k • ODD | 938 | 26,372 | — | 98.3% | 1.4 bps | — | — | 9th | — | 99.9% |
| market | $5k–$10k • ROUND | 60 | 10,225 | — | — | — | — | — | — | — | — |
| market | $10k–$20k • ODD | 402 | 13,537 | — | 95.5% | 1.0 bps | — | — | 4th | — | 100.0% |
| market | $10k–$20k • ROUND | 102 | 20,314 | — | 96.7% | 0.9 bps | — | — | 7th | — | 100.0% |
| market | $20k–$50k • ODD | 86 | 4,215 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ROUND | 109 | 15,124 | — | 97.5% | 0.9 bps | — | — | 8th | — | 100.0% |
| market | $50k–$200k • ODD | 39 | 1,486 | — | — | — | — | — | — | — | — |
| market | $50k–$200k • ROUND | 75 | 11,412 | — | — | — | — | — | — | — | — |
| market | ≥$200k • ROUND | 1 | 863 | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|
| ETOR202608.zip | 202608 | detailed | stored | 2026-09-30T21:17:20.841285175+00:00 | File Link ↗ |
| ETOR202608.csv | 202608 | summary | stored | 2026-09-30T21:17:20.841287119+00:00 | File Link ↗ |
4. Coverage Gaps & Review Limitations
Suppressed Cells
10
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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