FIDELITY BROKERAGE SERVICES LLC

Reporter ID: FIBS • Quarter: 2026Q3 • Methodology: exq-2

Status: ACTIVE

Generated: Wed, 14 Oct 2026 17:42:58 GMT

Quarter:2026Q3

Covered Orders46,842,530Across all reported tiers

Covered Shares11,906,745,386In Q3 2026

Active Tiers103Order 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	5,855,840	1,443,120	47.2%	95.5%	2.3 bps	2.1 bps	96%	45th	$-0.0011	94.6%
market	<$250 • ODD	4,036,891	20,867,662	1.3%	96.5%	8.4 bps	6.2 bps	96%	62nd	$-0.0028	97.4%
market	<$250 • ROUND	42,759	8,163,879	0.0%	82.5%	42.3 bps	23.1 bps	53%	83rd	$0.0011	96.2%
market	$250–$999 • FRACT	264,482	172,299	27.3%	91.6%	1.1 bps	0.9 bps	97%	43rd	$-0.0045	97.6%
market	$250–$999 • ODD	3,409,046	46,201,796	0.6%	95.7%	6.7 bps	5.0 bps	96%	71st	$-0.0060	97.2%
market	$250–$999 • ROUND	274,958	58,516,012	0.0%	92.2%	21.4 bps	13.5 bps	81%	80th	$0.0020	98.7%
market	$1k–$5k • FRACT	1,872	1,366	67.7%	98.0%	4.5 bps	3.4 bps	95%	78th	$-0.0485	93.7%
market	$1k–$5k • ODD	3,133,214	87,991,462	0.3%	95.3%	6.1 bps	4.7 bps	96%	86th	$-0.0080	97.1%
market	$1k–$5k • ROUND	1,219,508	401,330,435	0.0%	90.5%	11.8 bps	8.2 bps	88%	91st	$0.0015	98.7%
market	$5k–$10k • ODD	649,784	29,080,458	0.2%	94.9%	5.5 bps	4.1 bps	93%	89th	$-0.0114	98.0%
market	$5k–$10k • ROUND	889,368	424,410,291	0.0%	89.0%	8.7 bps	5.5 bps	83%	89th	$0.0005	98.5%
market	$10k–$20k • ODD	236,894	12,121,343	0.2%	95.5%	5.9 bps	4.4 bps	94%	91st	$-0.0161	97.9%
market	$10k–$20k • ROUND	972,680	603,584,762	0.0%	87.1%	7.0 bps	4.5 bps	83%	89th	$-0.0008	98.6%
market	$20k–$50k • ODD	30,379	1,788,959	0.2%	95.4%	4.9 bps	3.5 bps	94%	86th	$-0.0050	94.7%
market	$20k–$50k • ROUND	1,025,270	1,012,135,780	0.0%	84.5%	6.4 bps	4.4 bps	85%	93rd	$-0.0014	98.6%
market	$50k–$200k • ROUND	768,128	2,573,553,111	0.0%	82.6%	4.7 bps	3.5 bps	83%	93rd	$0.0024	97.4%
market	≥$200k • ROUND	102,569	779,657,433	0.0%	39.3%	-1.0 bps	-0.4 bps	69%	36th	$0.0766	94.1%
marketable_limit	<$250 • FRACT	75,958	17,477	64.2%	96.5%	4.4 bps	1.9 bps	44%	80th	$-0.0010	98.0%
marketable_limit	<$250 • ODD	662,105	3,399,213	0.3%	90.1%	10.0 bps	-9.7 bps	65%	83rd	$-0.0022	98.8%
marketable_limit	<$250 • ROUND	36,194	10,689,116	0.0%	67.5%	36.8 bps	-38.7 bps	68%	96th	$0.0008	94.4%
marketable_limit	$250–$999 • FRACT	2,224	1,393	44.1%	92.8%	2.1 bps	0.5 bps	68%	100th	$-0.0022	98.6%
marketable_limit	$250–$999 • ODD	249,422	4,963,264	0.1%	93.6%	6.9 bps	-7.7 bps	65%	83rd	$-0.0033	98.8%
marketable_limit	$250–$999 • ROUND	88,007	41,689,413	0.0%	74.0%	21.9 bps	-30.8 bps	61%	94th	$0.0014	97.5%
marketable_limit	$1k–$5k • FRACT	49	34	—	—	—	—	—	—	—	—
marketable_limit	$1k–$5k • ODD	228,867	7,314,695	0.1%	92.3%	5.3 bps	-6.4 bps	68%	90th	$-0.0032	99.1%
marketable_limit	$1k–$5k • ROUND	276,124	196,487,383	0.0%	69.4%	11.7 bps	-13.2 bps	60%	89th	$0.0021	96.4%
marketable_limit	$5k–$10k • ODD	46,113	2,149,459	0.1%	91.7%	4.6 bps	-7.5 bps	64%	90th	$-0.0074	99.2%
marketable_limit	$5k–$10k • ROUND	170,256	167,092,526	0.0%	64.6%	8.2 bps	-6.9 bps	43%	91st	$0.0003	94.7%
marketable_limit	$10k–$20k • ODD	14,885	790,451	0.1%	93.2%	5.0 bps	-3.0 bps	65%	91st	$-0.0107	99.3%
marketable_limit	$10k–$20k • ROUND	198,804	240,250,774	0.0%	62.2%	6.5 bps	-5.9 bps	45%	91st	$-0.0001	93.8%
marketable_limit	$20k–$50k • ODD	1,473	88,815	0.2%	93.4%	4.1 bps	-0.2 bps	61%	87th	$0.0024	99.7%
marketable_limit	$20k–$50k • ROUND	198,286	363,408,592	0.0%	63.3%	5.3 bps	-4.4 bps	50%	95th	$0.0000	92.8%
marketable_limit	$50k–$200k • ROUND	130,550	487,667,873	0.0%	58.1%	3.4 bps	-3.6 bps	50%	94th	$0.0024	92.1%
marketable_limit	≥$200k • ROUND	56,548	670,901,484	0.0%	31.8%	-1.0 bps	-3.9 bps	29%	22nd	$0.0521	82.4%
nonmarketable_limit	<$250 • FRACT	147,968	35,501	63.3%	100.0%	16.6 bps	9.6 bps	61%	69th	$-0.1632	15.2%
nonmarketable_limit	<$250 • ODD	1,091,785	7,400,659	0.2%	100.0%	24.3 bps	50.2 bps	83%	52nd	$0.0261	33.2%
nonmarketable_limit	<$250 • ROUND	50,799	13,633,577	0.0%	100.0%	77.7 bps	106.3 bps	68%	78th	$0.0017	28.5%
nonmarketable_limit	$250–$999 • FRACT	5,002	3,009	43.8%	100.0%	11.1 bps	4.3 bps	76%	83rd	$-0.6188	17.7%
nonmarketable_limit	$250–$999 • ODD	802,451	13,106,592	0.1%	100.0%	16.5 bps	37.8 bps	83%	53rd	$0.0555	37.8%
nonmarketable_limit	$250–$999 • ROUND	146,020	50,901,363	0.0%	100.0%	60.0 bps	139.9 bps	67%	76th	$0.0089	26.3%
nonmarketable_limit	$1k–$5k • FRACT	105	76	59.0%	100.0%	8.2 bps	—	0%	0th	$-1.2956	2.8%
nonmarketable_limit	$1k–$5k • ODD	700,482	19,760,234	0.1%	100.0%	12.9 bps	36.8 bps	85%	55th	$0.0778	44.7%
nonmarketable_limit	$1k–$5k • ROUND	485,916	226,095,233	0.0%	100.0%	26.9 bps	76.7 bps	74%	54th	$0.0180	24.1%
nonmarketable_limit	$5k–$10k • ODD	139,132	6,000,630	0.1%	100.0%	10.2 bps	34.8 bps	79%	61st	$0.0927	52.7%
nonmarketable_limit	$5k–$10k • ROUND	281,915	188,403,907	0.0%	100.0%	19.1 bps	63.4 bps	58%	65th	$0.0297	21.9%
nonmarketable_limit	$10k–$20k • ODD	43,670	2,255,247	0.1%	100.0%	10.1 bps	28.8 bps	79%	56th	$0.1362	51.1%
nonmarketable_limit	$10k–$20k • ROUND	297,601	257,165,257	0.0%	100.0%	15.2 bps	50.8 bps	59%	61st	$0.0410	21.9%
nonmarketable_limit	$20k–$50k • ODD	3,368	223,737	0.1%	100.0%	9.2 bps	16.9 bps	67%	35th	$0.0787	46.5%
nonmarketable_limit	$20k–$50k • ROUND	276,509	357,958,263	0.0%	100.0%	12.8 bps	45.1 bps	64%	66th	$0.0605	20.8%
nonmarketable_limit	$50k–$200k • ROUND	157,150	458,090,040	0.0%	100.0%	10.1 bps	37.9 bps	61%	63rd	$0.0721	21.2%
nonmarketable_limit	≥$200k • ROUND	39,251	420,673,241	0.0%	99.9%	7.3 bps	35.8 bps	47%	64th	$0.0778	23.6%
market	<$250 • FRACT	3,541,768	607,598	69.8%	95.0%	2.9 bps	2.6 bps	100%	67th	$-0.0019	94.5%
market	<$250 • ODD	765,396	1,420,610	2.7%	95.9%	3.3 bps	2.7 bps	100%	75th	$-0.0044	96.8%
market	$250–$999 • FRACT	260,280	160,572	55.7%	93.0%	3.6 bps	3.2 bps	99%	70th	$-0.0080	95.8%
market	$250–$999 • ODD	2,072,886	9,485,458	1.4%	95.6%	3.5 bps	2.9 bps	100%	81st	$-0.0119	97.0%
market	$250–$999 • ROUND	160	16,131	0.0%	98.1%	5.4 bps	5.3 bps	100%	67th	$0.0010	98.8%
market	$1k–$5k • FRACT	7,223	5,785	56.3%	98.0%	7.3 bps	5.9 bps	95%	100th	$-0.1275	95.9%
market	$1k–$5k • ODD	2,869,514	36,313,263	0.5%	94.9%	3.7 bps	3.0 bps	100%	84th	$-0.0223	97.5%
market	$1k–$5k • ROUND	83,425	9,745,385	0.0%	96.2%	2.4 bps	1.9 bps	99%	92nd	$-0.0016	98.3%
market	$5k–$10k • FRACT	2	2	—	—	—	—	—	—	—	—
market	$5k–$10k • ODD	966,867	25,395,653	0.2%	94.3%	3.8 bps	3.1 bps	100%	87th	$-0.0243	97.7%
market	$5k–$10k • ROUND	139,959	22,258,095	0.0%	95.3%	2.4 bps	1.9 bps	99%	92nd	$-0.0018	98.1%
market	$10k–$20k • ODD	534,284	19,130,577	0.2%	93.5%	3.9 bps	3.1 bps	99%	88th	$-0.0277	98.3%
market	$10k–$20k • ROUND	374,244	56,340,719	0.0%	94.1%	3.3 bps	2.7 bps	98%	91st	$-0.0065	98.1%
market	$20k–$50k • ODD	202,508	7,371,148	0.1%	94.7%	4.9 bps	4.1 bps	98%	97th	$-0.0356	98.5%
market	$20k–$50k • ROUND	705,180	143,187,269	0.0%	92.2%	3.2 bps	2.6 bps	99%	87th	$-0.0098	98.6%
market	$50k–$200k • ODD	4,962	180,271	0.3%	95.0%	4.7 bps	3.8 bps	100%	100th	$-0.0791	99.6%
market	$50k–$200k • ROUND	712,679	504,153,900	0.0%	89.4%	3.4 bps	2.8 bps	98%	92nd	$-0.0053	97.6%
market	≥$200k • ROUND	145,111	281,042,400	0.0%	67.5%	1.2 bps	0.5 bps	94%	64th	$0.1716	97.2%
marketable_limit	<$250 • FRACT	62,250	10,723	72.2%	95.6%	3.2 bps	1.8 bps	79%	71st	$-0.0049	98.4%
marketable_limit	<$250 • ODD	55,768	110,434	0.9%	94.5%	2.7 bps	-3.3 bps	85%	91st	$-0.0035	98.8%
marketable_limit	$250–$999 • FRACT	5,312	2,992	58.7%	95.1%	3.7 bps	2.2 bps	71%	64th	$-0.0099	98.2%
marketable_limit	$250–$999 • ODD	132,107	843,235	0.4%	93.7%	2.9 bps	-3.5 bps	90%	89th	$-0.0090	98.9%
marketable_limit	$250–$999 • ROUND	29	2,900	—	—	—	—	—	—	—	—
marketable_limit	$1k–$5k • FRACT	195	153	47.1%	97.3%	6.2 bps	3.1 bps	79%	100th	$-0.1316	99.5%
marketable_limit	$1k–$5k • ODD	192,918	2,699,022	0.2%	92.3%	3.0 bps	-4.4 bps	93%	94th	$-0.0158	98.9%
marketable_limit	$1k–$5k • ROUND	17,760	2,016,727	0.0%	96.1%	2.6 bps	-4.5 bps	87%	97th	$-0.0019	96.7%
marketable_limit	$5k–$10k • ODD	68,421	1,815,270	0.1%	91.6%	3.2 bps	-5.1 bps	86%	93rd	$-0.0208	99.0%
marketable_limit	$5k–$10k • ROUND	20,578	3,358,853	0.0%	94.1%	2.2 bps	-4.9 bps	73%	95th	$-0.0015	98.5%
marketable_limit	$10k–$20k • ODD	38,019	1,356,940	0.1%	90.6%	3.2 bps	-3.7 bps	83%	94th	$-0.0243	99.0%
marketable_limit	$10k–$20k • ROUND	40,889	7,776,360	0.0%	92.4%	2.8 bps	-5.1 bps	75%	93rd	$-0.0035	98.6%
marketable_limit	$20k–$50k • ODD	12,038	441,294	0.1%	91.3%	4.0 bps	-0.5 bps	80%	97th	$-0.0348	99.0%
marketable_limit	$20k–$50k • ROUND	72,793	19,496,556	0.0%	91.0%	2.6 bps	-4.3 bps	84%	91st	$-0.0065	98.5%
marketable_limit	$50k–$200k • ODD	160	5,757	0.1%	91.4%	4.2 bps	1.2 bps	100%	93rd	$0.0243	98.8%
marketable_limit	$50k–$200k • ROUND	69,035	46,401,742	0.0%	88.1%	2.7 bps	-2.8 bps	86%	96th	$-0.0049	97.7%
marketable_limit	≥$200k • ROUND	34,816	143,980,196	0.0%	53.5%	0.7 bps	-4.5 bps	79%	86th	$0.1103	87.6%
nonmarketable_limit	<$250 • FRACT	167,543	29,891	69.0%	100.0%	8.3 bps	6.5 bps	92%	82nd	$-0.1953	27.2%
nonmarketable_limit	<$250 • ODD	223,983	384,301	0.5%	100.0%	5.7 bps	23.3 bps	97%	76th	$0.0181	43.5%
nonmarketable_limit	$250–$999 • FRACT	15,371	8,311	59.2%	100.0%	8.3 bps	6.0 bps	83%	83rd	$-0.5028	27.6%
nonmarketable_limit	$250–$999 • ODD	532,115	2,017,243	0.4%	100.0%	5.1 bps	24.3 bps	98%	76th	$0.0491	49.1%
nonmarketable_limit	$250–$999 • ROUND	60	6,057	—	—	—	—	—	—	—	—
nonmarketable_limit	$1k–$5k • FRACT	465	369	55.8%	100.0%	11.6 bps	4.8 bps	75%	100th	$-1.2379	25.6%
nonmarketable_limit	$1k–$5k • ODD	717,039	8,391,192	0.2%	100.0%	4.8 bps	26.9 bps	99%	64th	$0.0928	54.2%
nonmarketable_limit	$1k–$5k • ROUND	33,095	3,778,228	0.0%	100.0%	6.0 bps	18.4 bps	96%	81st	$0.0141	17.4%
nonmarketable_limit	$5k–$10k • ODD	239,692	5,950,223	0.1%	100.0%	4.7 bps	28.7 bps	95%	62nd	$0.0997	57.5%
nonmarketable_limit	$5k–$10k • ROUND	40,449	6,275,907	0.0%	100.0%	4.6 bps	23.1 bps	87%	83rd	$0.0085	27.4%
nonmarketable_limit	$10k–$20k • ODD	125,714	4,285,251	0.1%	100.0%	4.5 bps	23.3 bps	93%	63rd	$0.1115	60.6%
nonmarketable_limit	$10k–$20k • ROUND	97,961	15,184,191	0.0%	100.0%	4.7 bps	33.6 bps	88%	81st	$0.0418	33.9%
nonmarketable_limit	$20k–$50k • ODD	42,929	1,524,296	0.1%	100.0%	4.4 bps	10.3 bps	90%	65th	$0.1901	60.5%
nonmarketable_limit	$20k–$50k • ROUND	176,884	34,787,742	0.0%	100.0%	4.3 bps	38.7 bps	93%	71st	$0.0695	39.0%
nonmarketable_limit	$50k–$200k • ODD	496	17,280	0.2%	100.0%	4.7 bps	2.9 bps	97%	53rd	$0.2488	69.4%
nonmarketable_limit	$50k–$200k • ROUND	147,152	71,407,341	0.0%	100.0%	4.0 bps	30.7 bps	92%	71st	$0.0854	38.8%
nonmarketable_limit	≥$200k • ROUND	53,415	125,924,877	0.0%	100.0%	3.3 bps	28.8 bps	86%	57th	$0.1174	41.0%

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
FIBS202608.csv	202608	summary	stored	2026-09-30T21:27:23.981282690+00:00	File Link ↗
FIBS202608.zip	202608	detailed	stored	2026-09-30T21:27:23.981276618+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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