AMERICAN ENTERPRISE INVESTMENT SERVICES INC.

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

Status: ACTIVE

Generated: Wed, 14 Oct 2026 18:33:35 GMT

Quarter:2026Q3

Covered Orders1,496,416Across all reported tiers

Covered Shares207,663,795In Q3 2026

Active Tiers80Order 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	95,736	306,193	—	93.5%	4.5 bps	—	—	26th	—	99.1%
market	<$250 • ROUND	141	46,076	—	63.5%	44.2 bps	—	—	87th	—	82.3%
market	$250–$999 • ODD	163,057	1,623,281	—	93.2%	3.6 bps	—	—	21st	—	99.6%
market	$250–$999 • ROUND	1,432	358,035	—	88.5%	15.9 bps	—	—	58th	—	99.2%
market	$1k–$5k • ODD	217,128	6,412,268	—	91.8%	2.9 bps	—	—	24th	—	99.7%
market	$1k–$5k • ROUND	26,838	5,908,285	—	92.9%	5.6 bps	—	—	36th	—	97.2%
market	$5k–$10k • ODD	54,146	2,705,458	—	91.3%	2.6 bps	—	—	30th	—	99.7%
market	$5k–$10k • ROUND	45,097	11,265,558	—	92.3%	3.5 bps	—	—	32nd	—	97.2%
market	$10k–$20k • ODD	18,788	1,041,037	—	91.3%	2.4 bps	—	—	20th	—	99.9%
market	$10k–$20k • ROUND	59,760	20,178,854	—	91.9%	2.9 bps	—	—	39th	—	96.6%
market	$20k–$50k • ODD	2,343	143,722	—	89.1%	1.6 bps	—	—	12th	—	99.9%
market	$20k–$50k • ROUND	61,073	36,798,004	—	89.4%	2.5 bps	—	—	40th	—	94.3%
market	$50k–$200k • ROUND	31,139	47,580,480	—	86.4%	1.9 bps	—	—	52nd	—	89.0%
market	≥$200k • ROUND	5,109	23,835,309	—	79.5%	1.4 bps	—	—	84th	—	71.6%
marketable_limit	<$250 • ODD	36	394	—	—	—	—	—	—	—	—
marketable_limit	<$250 • ROUND	1	2,500	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • ODD	107	2,414	—	94.0%	4.0 bps	—	—	65th	—	100.0%
marketable_limit	$250–$999 • ROUND	29	31,464	—	—	—	—	—	—	—	—
marketable_limit	$1k–$5k • ODD	434	17,152	—	89.1%	3.3 bps	—	—	69th	—	99.8%
marketable_limit	$1k–$5k • ROUND	319	365,928	—	64.0%	16.0 bps	—	—	98th	—	61.2%
marketable_limit	$5k–$10k • ODD	68	3,931	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ROUND	237	241,846	—	79.1%	6.6 bps	—	—	80th	—	69.4%
marketable_limit	$10k–$20k • ODD	25	1,311	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ROUND	336	516,398	—	70.0%	8.8 bps	—	—	100th	—	74.0%
marketable_limit	$20k–$50k • ODD	3	164	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ROUND	372	1,144,591	—	52.9%	5.9 bps	—	—	99th	—	50.6%
marketable_limit	$50k–$200k • ROUND	273	2,020,114	—	43.9%	2.9 bps	—	—	93rd	—	32.3%
marketable_limit	≥$200k • ROUND	70	1,234,661	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • ODD	73	924	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • ROUND	12	1,755	—	—	—	—	—	—	—	—
nonmarketable_limit	$250–$999 • ODD	168	3,161	—	100.0%	32.3 bps	—	—	88th	—	39.2%
nonmarketable_limit	$250–$999 • ROUND	67	38,936	—	—	—	—	—	—	—	—
nonmarketable_limit	$1k–$5k • ODD	601	19,407	—	100.0%	17.5 bps	—	—	74th	—	40.6%
nonmarketable_limit	$1k–$5k • ROUND	576	398,640	—	100.0%	39.7 bps	—	—	84th	—	33.1%
nonmarketable_limit	$5k–$10k • ODD	238	10,769	—	100.0%	9.4 bps	—	—	48th	—	48.2%
nonmarketable_limit	$5k–$10k • ROUND	589	479,925	—	100.0%	49.5 bps	—	—	94th	—	28.4%
nonmarketable_limit	$10k–$20k • ODD	108	5,766	—	100.0%	15.3 bps	—	—	71st	—	51.9%
nonmarketable_limit	$10k–$20k • ROUND	696	1,016,419	—	100.0%	33.3 bps	—	—	93rd	—	20.8%
nonmarketable_limit	$20k–$50k • ODD	41	770	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	799	1,593,545	—	100.0%	33.2 bps	—	—	97th	—	19.3%
nonmarketable_limit	$50k–$200k • ROUND	480	2,178,931	—	100.0%	10.1 bps	—	—	64th	—	24.2%
nonmarketable_limit	≥$200k • ROUND	97	722,414	—	—	—	—	—	—	—	—
market	<$250 • ODD	59,440	98,074	—	94.7%	2.8 bps	—	—	59th	—	99.5%
market	$250–$999 • ODD	199,015	776,277	—	95.1%	2.7 bps	—	—	52nd	—	99.8%
market	$250–$999 • ROUND	5	500	—	—	—	—	—	—	—	—
market	$1k–$5k • ODD	251,954	3,453,889	—	94.9%	2.6 bps	—	—	51st	—	99.8%
market	$1k–$5k • ROUND	4,115	459,169	—	96.9%	1.8 bps	—	—	47th	—	99.9%
market	$5k–$10k • ODD	73,280	2,278,503	—	94.9%	2.6 bps	—	—	44th	—	99.8%
market	$5k–$10k • ROUND	7,713	1,255,868	—	96.5%	1.6 bps	—	—	49th	—	99.9%
market	$10k–$20k • ODD	32,381	1,377,167	—	94.9%	2.7 bps	—	—	50th	—	99.8%
market	$10k–$20k • ROUND	20,591	3,161,008	—	95.8%	2.1 bps	—	—	54th	—	99.8%
market	$20k–$50k • ODD	5,599	264,817	—	93.9%	3.0 bps	—	—	47th	—	99.7%
market	$20k–$50k • ROUND	30,606	6,319,369	—	93.8%	2.5 bps	—	—	69th	—	99.6%
market	$50k–$200k • ODD	29	1,434	—	—	—	—	—	—	—	—
market	$50k–$200k • ROUND	16,021	7,952,731	—	92.5%	2.5 bps	—	—	65th	—	98.1%
market	≥$200k • ROUND	3,635	8,716,984	—	78.0%	1.9 bps	—	—	77th	—	61.8%
marketable_limit	<$250 • ODD	13	25	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • ODD	55	205	—	—	—	—	—	—	—	—
marketable_limit	$1k–$5k • ODD	196	3,563	—	92.1%	1.9 bps	—	—	66th	—	100.0%
marketable_limit	$1k–$5k • ROUND	12	1,500	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ODD	90	2,313	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ROUND	30	6,044	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ODD	56	2,731	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ROUND	50	8,876	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ODD	24	1,093	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ROUND	110	41,541	—	87.5%	3.9 bps	—	—	100th	—	98.8%
marketable_limit	$50k–$200k • ROUND	144	103,673	—	90.9%	1.8 bps	—	—	82nd	—	95.0%
marketable_limit	≥$200k • ROUND	45	441,846	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • ODD	27	54	—	—	—	—	—	—	—	—
nonmarketable_limit	$250–$999 • ODD	87	458	—	—	—	—	—	—	—	—
nonmarketable_limit	$1k–$5k • ODD	542	9,759	—	100.0%	9.5 bps	—	—	92nd	—	65.9%
nonmarketable_limit	$1k–$5k • ROUND	41	4,737	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ODD	362	10,842	—	100.0%	4.7 bps	—	—	61st	—	57.7%
nonmarketable_limit	$5k–$10k • ROUND	61	8,517	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ODD	233	9,639	—	100.0%	5.4 bps	—	—	78th	—	62.1%
nonmarketable_limit	$10k–$20k • ROUND	182	33,212	—	100.0%	4.1 bps	—	—	61st	—	44.5%
nonmarketable_limit	$20k–$50k • ODD	90	3,157	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	390	93,086	—	100.0%	3.4 bps	—	—	53rd	—	44.8%
nonmarketable_limit	$50k–$200k • ROUND	421	247,394	—	100.0%	4.9 bps	—	—	83rd	—	41.4%
nonmarketable_limit	≥$200k • ROUND	129	256,950	—	100.0%	5.6 bps	—	—	88th	—	40.7%

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
HRBF202608.csv	202608	summary	stored	2026-09-30T21:27:23.981275546+00:00	File Link ↗
HRBF202608.zip	202608	detailed	stored	2026-09-30T21:27:23.981272591+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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