EXECUTIONREPORTS.COM AMENDED SEC RULE 605 / FINRA 5310.09 ENGINE
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Rule 605 Market Center Scorecard

FIRSTRADE SECURITIES INC.

Reporter ID: FFSI • Quarter: 2026Q3 • Methodology: exq-3
Status: ACTIVE
Generated: Thu, 15 Oct 2026 22:32:28 GMT
Quarter:2026Q3
Covered Orders1,993,056Across all reported tiers
Covered Shares648,507,884In Q3 2026
Active Tiers100Order 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.

ClassNotional × LotOrdersCovered ShFill RatePI RateNPI (bps)Peer Bench (bps)CoverageRank PctlEff SpreadSpeed <1s
Market<$250 • Fractional29,9948,083—98.8%1.9 bps——38th—100.0%
Market<$250 • Odd Lot153,070696,408—96.4%4.1 bps——24th—100.0%
Market<$250 • Round Lot51355,005—95.8%13.7 bps——15th—100.0%
Market$250–$999 • Fractional1,6551,035—96.9%0.7 bps——29th—99.9%
Market$250–$999 • Odd Lot147,0332,017,226—95.4%3.8 bps——27th—100.0%
Market$250–$999 • Round Lot9,3581,225,597—95.1%5.0 bps——2nd—100.0%
Market$1k–$5k • Fractional2115————————
Market$1k–$5k • Odd Lot121,1413,071,575—95.1%3.4 bps——38th—100.0%
Market$1k–$5k • Round Lot50,59111,339,505—93.3%3.8 bps——16th—100.0%
Market$5k–$10k • Odd Lot20,756947,115—96.0%3.1 bps——40th—100.0%
Market$5k–$10k • Round Lot25,68910,633,561—91.2%3.0 bps——22nd—100.0%
Market$10k–$20k • Odd Lot5,434295,147—96.9%3.4 bps——48th—100.0%
Market$10k–$20k • Round Lot26,18813,734,386—86.7%2.2 bps——24th—99.9%
Market$20k–$50k • Odd Lot33922,068—97.2%3.4 bps——54th—100.0%
Market$20k–$50k • Round Lot21,48721,516,854—80.5%1.9 bps——28th—99.7%
Market$50k–$200k • Round Lot9,74624,534,450—58.9%1.0 bps——25th—98.8%
Market≥$200k • Round Lot1,58415,571,533—31.7%-1.0 bps——30th—52.4%
Marketable Limit<$250 • Fractional5,2601,427—98.5%1.6 bps——24th—100.0%
Marketable Limit<$250 • Odd Lot39,778228,503—93.3%3.5 bps——49th—100.0%
Marketable Limit<$250 • Round Lot1,534417,882—41.1%7.2 bps——49th—98.7%
Marketable Limit$250–$999 • Fractional185101—95.7%0.8 bps——36th—100.0%
Marketable Limit$250–$999 • Odd Lot28,106466,998—93.8%3.1 bps——50th—99.9%
Marketable Limit$250–$999 • Round Lot4,174963,021—86.4%5.7 bps——48th—79.5%
Marketable Limit$1k–$5k • Fractional43————————
Marketable Limit$1k–$5k • Odd Lot25,246719,744—91.0%2.6 bps——55th—99.9%
Marketable Limit$1k–$5k • Round Lot15,2185,369,386—86.6%3.2 bps——50th—90.7%
Marketable Limit$5k–$10k • Odd Lot4,700229,489—94.1%2.2 bps——58th—100.0%
Marketable Limit$5k–$10k • Round Lot7,4534,688,192—77.8%2.3 bps——49th—90.2%
Marketable Limit$10k–$20k • Odd Lot96450,922—95.1%2.9 bps——63rd—99.9%
Marketable Limit$10k–$20k • Round Lot7,6705,958,719—80.1%1.7 bps——51st—95.4%
Marketable Limit$20k–$50k • Odd Lot674,358————————
Marketable Limit$20k–$50k • Round Lot14,37171,248,308—37.5%0.7 bps——39th—99.4%
Marketable Limit$50k–$200k • Round Lot11,883152,809,260—16.9%0.3 bps——36th—98.2%
Marketable Limit≥$200k • Round Lot3,20262,375,930—12.5%-0.0 bps——54th—93.5%
Non-Marketable Limit<$250 • Fractional19,3874,321—100.0%7.5 bps——28th—42.0%
Non-Marketable Limit<$250 • Odd Lot133,449601,756—100.0%11.5 bps——16th—33.6%
Non-Marketable Limit<$250 • Round Lot1,816359,957—100.0%42.8 bps——39th—43.0%
Non-Marketable Limit$250–$999 • Fractional703413—100.0%7.4 bps——60th—48.7%
Non-Marketable Limit$250–$999 • Odd Lot100,2601,381,840—100.0%9.9 bps——21st—39.2%
Non-Marketable Limit$250–$999 • Round Lot9,5461,750,283—100.0%27.2 bps——25th—27.1%
Non-Marketable Limit$1k–$5k • Fractional107————————
Non-Marketable Limit$1k–$5k • Odd Lot77,6812,024,242—100.0%7.8 bps——27th—48.2%
Non-Marketable Limit$1k–$5k • Round Lot41,84612,059,405—100.0%12.7 bps——32nd—31.6%
Non-Marketable Limit$5k–$10k • Odd Lot13,912619,148—100.0%6.5 bps——35th—58.9%
Non-Marketable Limit$5k–$10k • Round Lot19,6369,106,345—100.0%10.7 bps——33rd—31.3%
Non-Marketable Limit$10k–$20k • Odd Lot3,961204,487—100.0%7.1 bps——30th—56.5%
Non-Marketable Limit$10k–$20k • Round Lot19,66212,619,073—100.0%8.7 bps——36th—34.3%
Non-Marketable Limit$20k–$50k • Odd Lot21814,559—100.0%6.1 bps——13th—57.0%
Non-Marketable Limit$20k–$50k • Round Lot20,35736,044,599—100.0%7.2 bps——31st—31.8%
Non-Marketable Limit$50k–$200k • Round Lot11,99079,021,917—100.0%7.0 bps——40th—26.8%
Non-Marketable Limit≥$200k • Round Lot3,60454,648,793—100.0%6.2 bps——48th—21.5%
Market<$250 • Fractional38,6817,821—99.0%1.6 bps——47th—100.0%
Market<$250 • Odd Lot32,06144,391—98.0%1.8 bps——18th—100.0%
Market$250–$999 • Fractional4,3532,297—98.2%1.8 bps——40th—100.0%
Market$250–$999 • Odd Lot107,139275,294—97.8%2.2 bps——24th—100.0%
Market$250–$999 • Round Lot1100————————
Market$1k–$5k • Fractional197156—98.5%2.3 bps——38th—100.0%
Market$1k–$5k • Odd Lot125,3671,094,206—97.2%2.2 bps——29th—100.0%
Market$1k–$5k • Round Lot1,552157,115—93.2%1.2 bps——14th—100.0%
Market$5k–$10k • Odd Lot30,600640,897—97.2%2.3 bps——26th—100.0%
Market$5k–$10k • Round Lot2,251319,148—94.5%1.1 bps——13th—100.0%
Market$10k–$20k • Odd Lot15,065446,655—96.9%2.3 bps——28th—100.0%
Market$10k–$20k • Round Lot6,716757,960—94.3%1.5 bps——21st—100.0%
Market$20k–$50k • Odd Lot4,973161,513—96.7%2.6 bps——23rd—100.0%
Market$20k–$50k • Round Lot11,1971,724,061—93.3%1.4 bps——22nd—100.0%
Market$50k–$200k • Odd Lot923,176————————
Market$50k–$200k • Round Lot6,4852,179,496—90.3%1.3 bps——21st—99.4%
Market≥$200k • Round Lot2,3406,270,741—61.6%0.3 bps——25th—22.7%
Marketable Limit<$250 • Fractional4,431780—99.0%1.4 bps——35th—99.9%
Marketable Limit<$250 • Odd Lot6,38710,526—96.7%1.6 bps——55th—100.0%
Marketable Limit$250–$999 • Fractional418214—98.7%1.9 bps——41st—100.0%
Marketable Limit$250–$999 • Odd Lot15,16348,485—95.5%1.9 bps——63rd—99.9%
Marketable Limit$1k–$5k • Fractional1311————————
Marketable Limit$1k–$5k • Odd Lot18,761192,426—94.9%1.9 bps——58th—100.0%
Marketable Limit$1k–$5k • Round Lot47755,170—93.8%1.1 bps——55th—100.0%
Marketable Limit$5k–$10k • Odd Lot4,939105,488—95.6%1.8 bps——56th—100.0%
Marketable Limit$5k–$10k • Round Lot56588,678—93.3%0.8 bps——54th—100.0%
Marketable Limit$10k–$20k • Odd Lot2,81488,706—94.3%1.8 bps——56th—100.0%
Marketable Limit$10k–$20k • Round Lot1,535223,063—92.2%1.2 bps——49th—99.7%
Marketable Limit$20k–$50k • Odd Lot86027,181—93.8%2.1 bps——63rd—100.0%
Marketable Limit$20k–$50k • Round Lot2,228426,789—90.4%1.1 bps——48th—99.6%
Marketable Limit$50k–$200k • Odd Lot491,542————————
Marketable Limit$50k–$200k • Round Lot1,674880,992—80.6%1.0 bps——48th—97.3%
Marketable Limit≥$200k • Round Lot326664,113—58.8%0.6 bps——81st—84.0%
Non-Marketable Limit<$250 • Fractional22,3714,131—100.0%5.0 bps——40th—56.7%
Non-Marketable Limit<$250 • Odd Lot28,25339,649—100.0%4.3 bps——49th—54.2%
Non-Marketable Limit$250–$999 • Fractional2,6181,324—100.0%5.2 bps——42nd—62.8%
Non-Marketable Limit$250–$999 • Odd Lot77,591192,017—100.0%3.6 bps——41st—58.0%
Non-Marketable Limit$1k–$5k • Fractional6148————————
Non-Marketable Limit$1k–$5k • Odd Lot78,001662,440—100.0%3.5 bps——29th—61.2%
Non-Marketable Limit$1k–$5k • Round Lot1,293136,776—100.0%5.2 bps——79th—37.7%
Non-Marketable Limit$5k–$10k • Odd Lot19,573386,876—100.0%3.7 bps——41st—63.8%
Non-Marketable Limit$5k–$10k • Round Lot1,761256,103—100.0%3.5 bps——67th—43.7%
Non-Marketable Limit$10k–$20k • Odd Lot11,407318,996—100.0%2.9 bps——28th—65.8%
Non-Marketable Limit$10k–$20k • Round Lot5,529732,131—100.0%3.3 bps——40th—48.4%
Non-Marketable Limit$20k–$50k • Odd Lot4,533146,365—100.0%3.2 bps——29th—64.2%
Non-Marketable Limit$20k–$50k • Round Lot8,7201,437,290—100.0%3.1 bps——39th—54.6%
Non-Marketable Limit$50k–$200k • Odd Lot1514,841—100.0%2.7 bps——18th—67.1%
Non-Marketable Limit$50k–$200k • Round Lot7,5372,778,272—100.0%3.2 bps——49th—50.5%
Non-Marketable Limit≥$200k • Round Lot1,4952,848,487—100.0%2.5 bps——33rd—38.3%

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 NameMonthKindStatusFetched AtSource URL
FFSI202608.txt202608detailedstored2026-10-15T20:13:04.231941384+00:00 File Link ↗
FFSI202608.csv202608summarytoo_large2026-10-15T22:24:28.633+00:00 File Link ↗

4. Coverage Gaps & Review Limitations

Suppressed Cells
9
Tiers with < 100 covered orders
Missing Files
0
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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