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Rule 605 Market Center Scorecard
VIRTU AMERICAS LLC
Status: ACTIVE
Generated: Wed, 14 Oct 2026 19:29:29 GMT
Quarter:2026Q3
Covered Orders545,984,569Across all reported tiers
Covered Shares964,948,605,539In Q3 2026
Active Tiers56Order 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| marketable_limit | <$250 • ODD | 1,120,140 | 15,752,061 | 2.2% | 0.1% | -0.0 bps | 0.9 bps | 87% | 7th | $0.0502 | 100.0% |
| marketable_limit | <$250 • ROUND | 771,525 | 170,765,844 | 1.6% | 0.1% | -0.2 bps | -28.1 bps | 98% | 9th | $0.0053 | 100.0% |
| marketable_limit | $250–$999 • ODD | 697,499 | 22,361,991 | 2.7% | 0.3% | -0.0 bps | -0.8 bps | 74% | 7th | $0.0739 | 100.0% |
| marketable_limit | $250–$999 • ROUND | 1,023,011 | 402,526,512 | 1.3% | 0.1% | -0.1 bps | -7.7 bps | 95% | 8th | $0.0116 | 100.0% |
| marketable_limit | $1k–$5k • ODD | 583,008 | 29,871,171 | 2.9% | 0.2% | -0.0 bps | -1.4 bps | 63% | 7th | $0.1052 | 100.0% |
| marketable_limit | $1k–$5k • ROUND | 2,909,424 | 1,209,772,751 | 1.4% | 0.3% | -0.1 bps | -4.3 bps | 92% | 7th | $0.0198 | 100.0% |
| marketable_limit | $5k–$10k • ODD | 101,079 | 6,496,513 | 4.2% | 0.2% | -0.0 bps | -2.8 bps | 46% | 8th | $0.1757 | 100.0% |
| marketable_limit | $5k–$10k • ROUND | 1,641,604 | 848,405,543 | 1.2% | 0.4% | -0.1 bps | -2.6 bps | 75% | 10th | $0.0291 | 100.0% |
| marketable_limit | $10k–$20k • ODD | 27,766 | 1,915,930 | 5.9% | 0.0% | -0.0 bps | -2.5 bps | 45% | 8th | $0.2895 | 100.0% |
| marketable_limit | $10k–$20k • ROUND | 1,613,154 | 1,172,060,806 | 1.0% | 0.5% | -0.1 bps | -2.7 bps | 72% | 11th | $0.0377 | 100.0% |
| marketable_limit | $20k–$50k • ODD | 3,522 | 265,248 | 6.2% | 0.0% | -0.0 bps | 0.0 bps | 49% | 9th | $0.4317 | 100.0% |
| marketable_limit | $20k–$50k • ROUND | 1,766,598 | 1,745,095,894 | 0.8% | 0.3% | -0.0 bps | -1.9 bps | 72% | 13th | $0.0462 | 100.0% |
| marketable_limit | $50k–$200k • ROUND | 690,940 | 3,295,280,538 | 0.4% | 0.3% | -0.0 bps | -1.7 bps | 62% | 13th | $0.0416 | 100.0% |
| marketable_limit | ≥$200k • ROUND | 162,992 | 3,035,475,470 | 0.2% | 0.2% | -0.0 bps | -1.3 bps | 62% | 53rd | $0.0292 | 100.0% |
| nonmarketable_limit | <$250 • ODD | 28,745,690 | 396,459,216 | 0.2% | 99.7% | 12.7 bps | 60.1 bps | 100% | 20th | $0.0038 | 100.0% |
| nonmarketable_limit | <$250 • ROUND | 4,762,562 | 1,130,579,891 | 0.5% | 99.9% | 25.6 bps | 106.1 bps | 100% | 3rd | $0.0024 | 100.0% |
| nonmarketable_limit | $250–$999 • ODD | 18,403,023 | 397,085,065 | 0.3% | 99.4% | 8.8 bps | 45.3 bps | 99% | 17th | $0.0063 | 100.0% |
| nonmarketable_limit | $250–$999 • ROUND | 12,529,857 | 3,358,968,029 | 0.3% | 99.7% | 20.8 bps | 96.9 bps | 100% | 19th | $0.0024 | 100.0% |
| nonmarketable_limit | $1k–$5k • ODD | 16,950,070 | 579,363,723 | 0.3% | 99.3% | 6.8 bps | 37.5 bps | 99% | 16th | $0.0151 | 100.0% |
| nonmarketable_limit | $1k–$5k • ROUND | 66,767,603 | 22,123,084,798 | 0.1% | 99.1% | 9.6 bps | 65.5 bps | 100% | 17th | $0.0061 | 100.0% |
| nonmarketable_limit | $5k–$10k • ODD | 3,529,640 | 192,622,410 | 0.3% | 99.3% | 5.7 bps | 36.1 bps | 99% | 29th | $0.0261 | 100.0% |
| nonmarketable_limit | $5k–$10k • ROUND | 54,093,261 | 25,829,132,037 | 0.1% | 99.1% | 7.1 bps | 58.8 bps | 98% | 16th | $0.0096 | 100.0% |
| nonmarketable_limit | $10k–$20k • ODD | 2,270,504 | 134,924,058 | 0.2% | 99.4% | 6.1 bps | 33.1 bps | 98% | 29th | $0.0578 | 100.0% |
| nonmarketable_limit | $10k–$20k • ROUND | 64,295,577 | 42,548,797,885 | 0.0% | 99.0% | 6.3 bps | 53.6 bps | 98% | 21st | $0.0128 | 100.0% |
| nonmarketable_limit | $20k–$50k • ODD | 537,617 | 39,675,305 | 0.1% | 98.7% | 6.9 bps | 20.0 bps | 99% | 18th | $0.0827 | 100.0% |
| nonmarketable_limit | $20k–$50k • ROUND | 72,213,597 | 86,315,723,905 | 0.0% | 99.1% | 6.3 bps | 47.7 bps | 98% | 22nd | $0.0138 | 100.0% |
| nonmarketable_limit | $50k–$200k • ROUND | 50,771,829 | 166,166,294,191 | 0.0% | 99.3% | 7.0 bps | 44.3 bps | 97% | 39th | $0.0122 | 100.0% |
| nonmarketable_limit | ≥$200k • ROUND | 12,251,596 | 544,240,940,856 | 0.0% | 99.5% | 9.2 bps | 48.3 bps | 95% | 79th | $0.0037 | 100.0% |
| marketable_limit | <$250 • ODD | 43,076 | 95,980 | 8.5% | 0.1% | -0.0 bps | -0.4 bps | 75% | 9th | $0.0881 | 100.0% |
| marketable_limit | $250–$999 • ODD | 94,970 | 862,092 | 7.2% | 1.7% | -0.0 bps | -1.3 bps | 84% | 8th | $0.1195 | 100.0% |
| marketable_limit | $250–$999 • ROUND | 506 | 50,664 | 3.4% | 0.0% | 0.0 bps | -1.6 bps | 100% | 17th | $0.0082 | 100.0% |
| marketable_limit | $1k–$5k • ODD | 205,350 | 5,458,751 | 5.0% | 1.3% | -0.0 bps | -1.8 bps | 95% | 6th | $0.1160 | 100.0% |
| marketable_limit | $1k–$5k • ROUND | 186,143 | 15,766,969 | 4.3% | 0.4% | -0.0 bps | -2.6 bps | 100% | 8th | $0.0137 | 100.0% |
| marketable_limit | $5k–$10k • ODD | 104,200 | 3,712,319 | 5.6% | 0.7% | -0.1 bps | -2.2 bps | 75% | 7th | $0.1608 | 100.0% |
| marketable_limit | $5k–$10k • ROUND | 232,467 | 29,632,371 | 4.8% | 0.6% | -0.0 bps | -2.8 bps | 99% | 8th | $0.0226 | 100.0% |
| marketable_limit | $10k–$20k • ODD | 44,140 | 2,342,186 | 6.2% | 0.2% | -0.0 bps | -2.6 bps | 58% | 9th | $0.2161 | 100.0% |
| marketable_limit | $10k–$20k • ROUND | 425,352 | 48,546,504 | 4.8% | 0.5% | -0.0 bps | -2.2 bps | 99% | 7th | $0.0587 | 100.0% |
| marketable_limit | $20k–$50k • ODD | 20,181 | 1,040,742 | 4.9% | 0.2% | -0.0 bps | -0.9 bps | 63% | 8th | $0.3882 | 100.0% |
| marketable_limit | $20k–$50k • ROUND | 434,965 | 77,354,974 | 4.5% | 0.6% | -0.0 bps | -2.4 bps | 98% | 7th | $0.0954 | 100.0% |
| marketable_limit | $50k–$200k • ODD | 270 | 10,224 | 3.1% | 0.0% | 0.0 bps | 1.3 bps | 73% | 7th | $1.7557 | 100.0% |
| marketable_limit | $50k–$200k • ROUND | 444,744 | 130,442,042 | 2.8% | 0.6% | -0.0 bps | -1.4 bps | 92% | 7th | $0.1188 | 100.0% |
| marketable_limit | ≥$200k • ROUND | 75,028 | 915,036,643 | 0.2% | 0.5% | -0.0 bps | -1.8 bps | 82% | 32nd | $0.0966 | 100.0% |
| nonmarketable_limit | <$250 • ODD | 1,850,570 | 3,815,301 | 0.6% | 99.8% | 4.1 bps | 22.6 bps | 100% | 41st | $0.0034 | 100.0% |
| nonmarketable_limit | $250–$999 • ODD | 4,072,323 | 24,989,535 | 0.4% | 99.6% | 4.7 bps | 23.7 bps | 100% | 68th | $0.0049 | 100.0% |
| nonmarketable_limit | $250–$999 • ROUND | 3,317 | 333,179 | 1.1% | 100.0% | 5.8 bps | 50.6 bps | 100% | 10th | $0.0000 | 100.0% |
| nonmarketable_limit | $1k–$5k • ODD | 7,274,586 | 124,320,844 | 0.4% | 99.7% | 4.2 bps | 25.3 bps | 100% | 52nd | $0.0109 | 100.0% |
| nonmarketable_limit | $1k–$5k • ROUND | 2,370,938 | 216,887,599 | 0.5% | 99.2% | 2.3 bps | 18.9 bps | 100% | 17th | $0.0009 | 100.0% |
| nonmarketable_limit | $5k–$10k • ODD | 2,494,789 | 85,440,303 | 0.4% | 99.6% | 3.6 bps | 26.1 bps | 100% | 32nd | $0.0187 | 100.0% |
| nonmarketable_limit | $5k–$10k • ROUND | 6,340,473 | 767,199,012 | 0.4% | 99.1% | 2.3 bps | 25.6 bps | 100% | 24th | $0.0034 | 100.0% |
| nonmarketable_limit | $10k–$20k • ODD | 1,953,005 | 92,955,849 | 0.3% | 99.6% | 3.6 bps | 23.2 bps | 100% | 36th | $0.0241 | 100.0% |
| nonmarketable_limit | $10k–$20k • ROUND | 20,647,043 | 2,478,301,593 | 0.3% | 99.4% | 3.0 bps | 33.3 bps | 100% | 29th | $0.0120 | 100.0% |
| nonmarketable_limit | $20k–$50k • ODD | 715,246 | 38,529,403 | 0.2% | 99.5% | 4.0 bps | 13.4 bps | 100% | 54th | $0.0516 | 100.0% |
| nonmarketable_limit | $20k–$50k • ROUND | 31,378,564 | 8,231,624,138 | 0.2% | 99.5% | 3.1 bps | 38.8 bps | 100% | 36th | $0.0140 | 100.0% |
| nonmarketable_limit | $50k–$200k • ODD | 7,038 | 231,764 | 0.2% | 100.0% | 4.5 bps | 3.7 bps | 100% | 45th | $0.1304 | 100.0% |
| nonmarketable_limit | $50k–$200k • ROUND | 34,678,658 | 22,813,431,836 | 0.1% | 99.6% | 3.2 bps | 26.9 bps | 100% | 50th | $0.0177 | 100.0% |
| nonmarketable_limit | ≥$200k • ROUND | 8,651,939 | 23,430,495,081 | 0.0% | 99.8% | 4.7 bps | 31.6 bps | 100% | 85th | $0.0055 | 100.0% |
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.
No raw Rule 605 files stored for this market center.
4. Coverage Gaps & Review Limitations
Suppressed Cells
0
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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