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Rule 605 Market Center Scorecard
J.P. MORGAN SECURITIES LLC
Status: ACTIVE
Generated: Wed, 14 Oct 2026 19:23:28 GMT
Quarter:2026Q3
Covered Orders2,891,703Across all reported tiers
Covered Shares890,312,373In Q3 2026
Active Tiers84Order 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 | 426,597 | 2,074,963 | 3.3% | 96.0% | 9.2 bps | 4.6 bps | 62% | 72nd | $0.0013 | 92.9% |
| market | <$250 • ROUND | 11,282 | 3,394,147 | 1.2% | 81.3% | 54.5 bps | 23.4 bps | 19% | 91st | $0.0000 | 95.5% |
| market | $250–$999 • ODD | 297,256 | 3,327,260 | 3.2% | 96.2% | 5.3 bps | 2.6 bps | 57% | 49th | $0.0011 | 91.6% |
| market | $250–$999 • ROUND | 27,634 | 9,547,910 | 1.6% | 88.6% | 29.7 bps | 9.5 bps | 30% | 96th | $-0.0000 | 93.9% |
| market | $1k–$5k • ODD | 233,497 | 6,209,108 | 2.9% | 95.5% | 4.9 bps | 3.0 bps | 67% | 72nd | $0.0018 | 92.4% |
| market | $1k–$5k • ROUND | 92,001 | 49,236,334 | 2.1% | 86.7% | 13.4 bps | 6.4 bps | 62% | 96th | $0.0002 | 81.6% |
| market | $5k–$10k • ODD | 47,961 | 2,166,895 | 2.5% | 94.4% | 4.3 bps | 2.4 bps | 61% | 74th | $-0.0009 | 92.6% |
| market | $5k–$10k • ROUND | 60,499 | 38,719,156 | 1.6% | 82.7% | 7.8 bps | 2.9 bps | 41% | 85th | $-0.0004 | 86.0% |
| market | $10k–$20k • ODD | 15,208 | 759,559 | 2.5% | 93.8% | 4.6 bps | 2.8 bps | 64% | 75th | $0.0094 | 91.9% |
| market | $10k–$20k • ROUND | 67,490 | 51,542,944 | 1.4% | 80.2% | 5.6 bps | 2.1 bps | 39% | 86th | $-0.0002 | 83.8% |
| market | $20k–$50k • ODD | 1,997 | 109,054 | 2.7% | 91.8% | 3.7 bps | 0.2 bps | 54% | 52nd | $0.0497 | 91.4% |
| market | $20k–$50k • ROUND | 70,580 | 80,373,055 | 0.9% | 81.6% | 4.4 bps | 1.9 bps | 57% | 84th | $0.0006 | 82.1% |
| market | $50k–$200k • ROUND | 46,298 | 112,949,220 | 0.4% | 75.1% | 2.9 bps | 1.4 bps | 68% | 78th | $0.0030 | 83.5% |
| market | ≥$200k • ROUND | 12,443 | 107,315,513 | 0.0% | 58.4% | 0.3 bps | -0.1 bps | 51% | 66th | $0.0914 | 78.4% |
| marketable_limit | <$250 • ODD | 32,627 | 258,241 | 1.6% | 94.3% | 10.5 bps | -7.3 bps | 15% | 85th | $-0.0006 | 90.2% |
| marketable_limit | <$250 • ROUND | 2,906 | 918,038 | 0.2% | 61.2% | 38.5 bps | — | 0% | 99th | $-0.0008 | 87.8% |
| marketable_limit | $250–$999 • ODD | 16,519 | 326,355 | 2.4% | 94.7% | 7.5 bps | -8.0 bps | 12% | 85th | $-0.0013 | 92.5% |
| marketable_limit | $250–$999 • ROUND | 5,062 | 1,767,811 | 0.8% | 82.0% | 24.2 bps | — | 0% | 97th | $-0.0029 | 89.4% |
| marketable_limit | $1k–$5k • ODD | 13,215 | 416,662 | 3.2% | 93.5% | 4.7 bps | -6.9 bps | 20% | 86th | $-0.0013 | 93.0% |
| marketable_limit | $1k–$5k • ROUND | 13,408 | 8,291,102 | 1.1% | 79.7% | 12.8 bps | -19.1 bps | 3% | 94th | $-0.0004 | 86.7% |
| marketable_limit | $5k–$10k • ODD | 2,790 | 137,370 | 2.5% | 94.0% | 3.8 bps | -8.2 bps | 38% | 86th | $-0.0036 | 92.9% |
| marketable_limit | $5k–$10k • ROUND | 7,900 | 8,378,209 | 1.0% | 77.1% | 9.2 bps | -3.5 bps | 18% | 94th | $0.0001 | 79.5% |
| marketable_limit | $10k–$20k • ODD | 795 | 43,810 | 2.3% | 93.0% | 5.0 bps | -6.2 bps | 0% | 88th | $0.0048 | 93.3% |
| marketable_limit | $10k–$20k • ROUND | 8,771 | 12,458,684 | 0.9% | 72.8% | 6.1 bps | -6.0 bps | 11% | 87th | $-0.0019 | 75.1% |
| marketable_limit | $20k–$50k • ODD | 92 | 5,373 | — | — | — | — | — | — | — | — |
| marketable_limit | $20k–$50k • ROUND | 9,635 | 23,824,883 | 0.8% | 70.2% | 4.2 bps | -2.4 bps | 57% | 90th | $-0.0005 | 73.3% |
| marketable_limit | $50k–$200k • ROUND | 6,797 | 40,598,444 | 0.1% | 60.7% | 2.3 bps | -3.1 bps | 30% | 85th | $0.0009 | 71.4% |
| marketable_limit | ≥$200k • ROUND | 2,694 | 42,477,951 | 0.0% | 48.3% | -0.5 bps | 0.2 bps | 0% | 34th | $0.0609 | 74.7% |
| nonmarketable_limit | <$250 • ODD | 66,122 | 529,692 | 0.1% | 100.0% | 31.5 bps | — | 10% | 68th | $-0.0012 | 23.7% |
| nonmarketable_limit | <$250 • ROUND | 5,050 | 1,107,914 | 0.0% | 100.0% | 117.4 bps | — | 0% | 95th | — | 35.3% |
| nonmarketable_limit | $250–$999 • ODD | 40,532 | 737,494 | 0.1% | 100.0% | 19.9 bps | — | 10% | 67th | $0.0007 | 26.7% |
| nonmarketable_limit | $250–$999 • ROUND | 10,262 | 2,747,462 | 0.0% | 100.0% | 78.8 bps | — | 1% | 87th | $-0.0046 | 28.3% |
| nonmarketable_limit | $1k–$5k • ODD | 33,734 | 1,001,047 | 0.2% | 100.0% | 13.1 bps | — | 17% | 56th | $0.0420 | 34.7% |
| nonmarketable_limit | $1k–$5k • ROUND | 29,104 | 13,438,411 | 0.0% | 100.0% | 30.6 bps | — | 10% | 66th | $-0.0118 | 23.4% |
| nonmarketable_limit | $5k–$10k • ODD | 6,502 | 290,758 | 0.2% | 100.0% | 12.0 bps | — | 18% | 69th | $-0.0763 | 44.6% |
| nonmarketable_limit | $5k–$10k • ROUND | 16,301 | 13,777,797 | 0.0% | 100.0% | 23.9 bps | — | 8% | 75th | $-0.0994 | 23.8% |
| nonmarketable_limit | $10k–$20k • ODD | 2,180 | 112,964 | 0.1% | 100.0% | 10.7 bps | — | 4% | 59th | $0.0795 | 44.2% |
| nonmarketable_limit | $10k–$20k • ROUND | 15,757 | 16,979,019 | 0.0% | 100.0% | 15.6 bps | — | 8% | 65th | $-0.0097 | 20.6% |
| nonmarketable_limit | $20k–$50k • ODD | 208 | 12,352 | 0.4% | 100.0% | 11.7 bps | — | 0% | 47th | $0.0066 | 43.2% |
| nonmarketable_limit | $20k–$50k • ROUND | 15,101 | 27,759,516 | 0.0% | 100.0% | 14.7 bps | — | 14% | 78th | $0.0031 | 20.1% |
| nonmarketable_limit | $50k–$200k • ROUND | 10,406 | 47,563,794 | 0.0% | 100.0% | 11.8 bps | — | 1% | 75th | $0.0335 | 19.6% |
| nonmarketable_limit | ≥$200k • ROUND | 3,408 | 44,714,589 | 0.0% | 96.7% | 8.5 bps | — | 6% | 75th | $0.0100 | 23.7% |
| market | <$250 • ODD | 111,788 | 182,933 | 35.7% | 96.4% | 3.1 bps | 2.6 bps | 96% | 69th | $-0.0026 | 87.4% |
| market | $250–$999 • ODD | 259,405 | 876,380 | 31.8% | 96.5% | 3.2 bps | 2.7 bps | 94% | 74th | $-0.0056 | 90.7% |
| market | $250–$999 • ROUND | 12 | 1,201 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ODD | 281,994 | 3,549,817 | 30.6% | 96.8% | 3.6 bps | 3.0 bps | 95% | 82nd | $-0.0134 | 93.0% |
| market | $1k–$5k • ROUND | 7,835 | 939,706 | 40.5% | 97.8% | 2.7 bps | 2.0 bps | 84% | 98th | $-0.0025 | 88.3% |
| market | $5k–$10k • ODD | 79,280 | 2,210,692 | 31.3% | 96.2% | 3.6 bps | 2.7 bps | 90% | 81st | $-0.0200 | 90.8% |
| market | $5k–$10k • ROUND | 11,540 | 1,958,490 | 37.2% | 96.9% | 2.5 bps | 1.6 bps | 72% | 95th | $-0.0032 | 85.8% |
| market | $10k–$20k • ODD | 40,364 | 1,557,783 | 30.5% | 95.3% | 3.6 bps | 2.6 bps | 86% | 84th | $-0.0236 | 89.4% |
| market | $10k–$20k • ROUND | 29,466 | 4,812,466 | 35.4% | 95.6% | 3.1 bps | 2.1 bps | 77% | 88th | $-0.0063 | 82.5% |
| market | $20k–$50k • ODD | 9,948 | 404,810 | 33.0% | 94.6% | 4.2 bps | 3.5 bps | 92% | 87th | $-0.0415 | 86.7% |
| market | $20k–$50k • ROUND | 51,800 | 11,262,590 | 30.9% | 93.7% | 2.9 bps | 2.1 bps | 80% | 80th | $-0.0051 | 79.9% |
| market | $50k–$200k • ODD | 151 | 5,449 | 44.8% | 94.9% | 4.2 bps | 4.0 bps | 92% | 84th | $0.0846 | 86.2% |
| market | $50k–$200k • ROUND | 41,028 | 21,970,904 | 21.3% | 88.6% | 2.7 bps | 2.1 bps | 85% | 76th | $0.0017 | 75.5% |
| market | ≥$200k • ROUND | 13,215 | 29,164,529 | 6.1% | 71.3% | 1.7 bps | 0.4 bps | 83% | 72nd | $0.0684 | 73.9% |
| marketable_limit | <$250 • ODD | 5,155 | 9,973 | 50.9% | 96.1% | 3.2 bps | -5.3 bps | 38% | 94th | $-0.0085 | 92.9% |
| marketable_limit | $250–$999 • ODD | 9,728 | 43,734 | 49.2% | 96.4% | 3.3 bps | -4.7 bps | 37% | 93rd | $-0.0136 | 93.2% |
| marketable_limit | $250–$999 • ROUND | 2 | 200 | — | — | — | — | — | — | — | — |
| marketable_limit | $1k–$5k • ODD | 12,749 | 168,133 | 51.4% | 95.1% | 3.4 bps | -5.7 bps | 51% | 96th | $-0.0191 | 93.4% |
| marketable_limit | $1k–$5k • ROUND | 782 | 93,036 | 50.7% | 97.2% | 3.1 bps | -14.3 bps | 31% | 98th | $-0.0033 | 94.0% |
| marketable_limit | $5k–$10k • ODD | 4,258 | 111,827 | 46.9% | 95.2% | 3.5 bps | -5.4 bps | 40% | 97th | $-0.0322 | 92.7% |
| marketable_limit | $5k–$10k • ROUND | 944 | 180,136 | 51.6% | 95.2% | 2.5 bps | -9.8 bps | 6% | 97th | $-0.0036 | 94.9% |
| marketable_limit | $10k–$20k • ODD | 2,273 | 82,568 | 43.4% | 93.1% | 3.4 bps | -3.8 bps | 50% | 97th | $-0.0385 | 91.7% |
| marketable_limit | $10k–$20k • ROUND | 2,061 | 365,354 | 50.3% | 93.8% | 3.3 bps | -12.2 bps | 9% | 99th | $-0.0083 | 89.3% |
| marketable_limit | $20k–$50k • ODD | 596 | 21,895 | 44.2% | 93.2% | 4.2 bps | -0.2 bps | 34% | 98th | $-0.0519 | 85.7% |
| marketable_limit | $20k–$50k • ROUND | 4,018 | 1,000,715 | 44.0% | 92.2% | 2.8 bps | -4.0 bps | 24% | 93rd | $-0.0052 | 86.5% |
| marketable_limit | $50k–$200k • ODD | 21 | 730 | — | — | — | — | — | — | — | — |
| marketable_limit | $50k–$200k • ROUND | 3,699 | 2,621,740 | 20.2% | 84.7% | 2.9 bps | -4.3 bps | 40% | 97th | $-0.0056 | 78.6% |
| marketable_limit | ≥$200k • ROUND | 2,071 | 8,306,063 | 5.1% | 53.1% | 1.0 bps | -3.8 bps | 56% | 89th | $0.0570 | 65.8% |
| nonmarketable_limit | <$250 • ODD | 11,633 | 21,169 | 1.4% | 100.0% | 7.2 bps | — | 21% | 86th | $0.0096 | 33.5% |
| nonmarketable_limit | $250–$999 • ODD | 25,025 | 102,167 | 1.7% | 100.0% | 5.7 bps | — | 16% | 83rd | $0.0012 | 38.0% |
| nonmarketable_limit | $250–$999 • ROUND | 3 | 310 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ODD | 33,977 | 415,997 | 1.7% | 100.0% | 5.4 bps | 30.8 bps | 18% | 71st | $0.0143 | 44.1% |
| nonmarketable_limit | $1k–$5k • ROUND | 1,509 | 177,450 | 0.5% | 100.0% | 7.6 bps | — | 33% | 86th | $-0.0170 | 21.7% |
| nonmarketable_limit | $5k–$10k • ODD | 10,768 | 285,053 | 1.9% | 100.0% | 5.2 bps | — | 10% | 73rd | $-0.0133 | 48.8% |
| nonmarketable_limit | $5k–$10k • ROUND | 2,012 | 346,287 | 1.0% | 100.0% | 4.7 bps | — | 13% | 86th | $-0.0118 | 26.9% |
| nonmarketable_limit | $10k–$20k • ODD | 5,772 | 205,695 | 2.2% | 100.0% | 5.1 bps | — | 8% | 74th | $-0.0195 | 52.2% |
| nonmarketable_limit | $10k–$20k • ROUND | 5,181 | 810,926 | 1.3% | 100.0% | 4.6 bps | — | 3% | 77th | $-0.0152 | 35.2% |
| nonmarketable_limit | $20k–$50k • ODD | 1,702 | 63,364 | 1.8% | 100.0% | 5.0 bps | — | 8% | 75th | $0.0162 | 56.7% |
| nonmarketable_limit | $20k–$50k • ROUND | 9,051 | 2,099,812 | 1.2% | 100.0% | 4.5 bps | — | 15% | 74th | $0.0047 | 37.3% |
| nonmarketable_limit | $50k–$200k • ODD | 48 | 1,689 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $50k–$200k • ROUND | 7,177 | 4,222,795 | 1.1% | 100.0% | 4.4 bps | — | 9% | 77th | $0.0298 | 40.0% |
| nonmarketable_limit | ≥$200k • ROUND | 3,041 | 11,254,945 | 0.2% | 100.0% | 3.7 bps | — | 25% | 68th | $0.0940 | 37.0% |
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 |
|---|---|---|---|---|---|
| TMSCO202607.dat | 202607 | detailed | stored | 2026-10-01T06:17:49.058+00:00 | File Link ↗ |
| THRTF202607.dat | 202607 | detailed | stored | 2026-10-01T06:17:51.035+00:00 | File Link ↗ |
| TETMM202607.dat | 202607 | detailed | stored | 2026-10-01T06:17:53.457+00:00 | File Link ↗ |
| TMSCO202607.zip | 202607 | detailed | variant | File Link ↗ | |
| THRTF202607.zip | 202607 | detailed | variant | File Link ↗ | |
| TETMM202607.zip | 202607 | detailed | variant | File Link ↗ | |
| JPBD202608.csv | 202608 | summary | stored | 2026-09-30T21:27:27.105990047+00:00 | File Link ↗ |
| JPBD202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:25.064176080+00:00 | File Link ↗ |
| XCIS202608.csv | 202608 | summary | stored | 2026-09-30T21:27:23.981328878+00:00 | File Link ↗ |
| XASE202608.csv | 202608 | summary | stored | 2026-09-30T21:27:25.064169818+00:00 | File Link ↗ |
| HRTS202608.csv | 202608 | summary | stored | 2026-09-30T21:27:25.064151483+00:00 | File Link ↗ |
| VGRD202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:23.981325892+00:00 | File Link ↗ |
| ETMM202608.csv | 202608 | summary | stored | 2026-09-30T21:27:23.981328127+00:00 | File Link ↗ |
| HRTF202608.csv | 202608 | summary | stored | 2026-09-30T21:27:25.064140261+00:00 | File Link ↗ |
| VGRD202608.csv | 202608 | summary | stored | 2026-09-30T21:27:23.981330170+00:00 | File Link ↗ |
| MSPL202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:25.069551971+00:00 | File Link ↗ |
| MLWM202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:25.064171932+00:00 | File Link ↗ |
| XCIS202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:25.064152765+00:00 | File Link ↗ |
| XNYS202608.csv | 202608 | summary | stored | 2026-09-30T21:27:25.064153787+00:00 | File Link ↗ |
| MSPL202608.csv | 202608 | summary | stored | 2026-09-30T21:27:23.981329549+00:00 | File Link ↗ |
| HRTF202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:25.064173885+00:00 | File Link ↗ |
| XASE202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:25.064172964+00:00 | File Link ↗ |
| MSCO202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:25.064148267+00:00 | File Link ↗ |
| ARCX202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:25.064146934+00:00 | File Link ↗ |
| MSRP202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:27.105991430+00:00 | File Link ↗ |
| HRTS202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:25.064141884+00:00 | File Link ↗ |
| HOOD202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:27.105988394+00:00 | File Link ↗ |
| ETMM202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:27.105981801+00:00 | File Link ↗ |
| ARCX202608.csv | 202608 | summary | stored | 2026-09-30T21:27:25.064177102+00:00 | File Link ↗ |
| MLWM202608.csv | 202608 | summary | stored | 2026-09-30T21:27:27.105983595+00:00 | File Link ↗ |
| HOOD202608.csv | 202608 | summary | stored | 2026-09-30T21:27:25.064168936+00:00 | File Link ↗ |
| MSRP202608.csv | 202608 | summary | stored | 2026-09-30T21:27:25.064143598+00:00 | File Link ↗ |
| MSCO202608.csv | 202608 | summary | stored | 2026-09-30T21:27:25.064133969+00:00 | File Link ↗ |
| XNYS202608.zip | 202608 | detailed | stored | 2026-09-30T21:27:25.064157665+00:00 | File Link ↗ |
4. Coverage Gaps & Review Limitations
Suppressed Cells
6
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.
Does your firm route to J.P. MORGAN SECURITIES LLC? See which competing venues beat it on your symbol mix → Enter your Firm CRD