AXOS CLEARING LLC

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

Status: ACTIVE

Generated: Wed, 14 Oct 2026 19:29:23 GMT

Quarter:2026Q3

Covered Orders149,933Across all reported tiers

Covered Shares54,933,421In Q3 2026

Active Tiers79Order 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	24,287	60,920	—	94.5%	1.0 bps	—	—	0th	—	99.4%
market	<$250 • ROUND	47	10,976	—	—	—	—	—	—	—	—
market	$250–$999 • ODD	20,497	197,223	—	93.0%	0.9 bps	—	—	1st	—	98.9%
market	$250–$999 • ROUND	192	65,238	—	79.2%	8.8 bps	—	—	20th	—	96.3%
market	$1k–$5k • ODD	19,914	624,531	—	91.2%	1.1 bps	—	—	3rd	—	99.3%
market	$1k–$5k • ROUND	3,196	1,114,865	—	81.3%	2.1 bps	—	—	10th	—	93.2%
market	$5k–$10k • ODD	3,554	183,519	—	91.5%	0.8 bps	—	—	4th	—	99.5%
market	$5k–$10k • ROUND	4,655	1,792,311	—	82.5%	1.6 bps	—	—	9th	—	98.0%
market	$10k–$20k • ODD	1,172	64,314	—	93.4%	1.5 bps	—	—	9th	—	99.5%
market	$10k–$20k • ROUND	5,706	3,418,606	—	78.0%	1.2 bps	—	—	12th	—	94.3%
market	$20k–$50k • ODD	129	8,974	—	94.2%	1.7 bps	—	—	14th	—	99.2%
market	$20k–$50k • ROUND	5,641	5,725,077	—	68.4%	1.1 bps	—	—	15th	—	96.3%
market	$50k–$200k • ROUND	3,339	7,815,028	—	62.6%	-0.1 bps	—	—	14th	—	96.7%
market	≥$200k • ROUND	917	7,037,486	—	45.3%	-0.4 bps	—	—	48th	—	88.4%
marketable_limit	<$250 • ODD	125	3,006	—	84.0%	1.7 bps	—	—	30th	—	98.1%
marketable_limit	<$250 • ROUND	26	4,011	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • ODD	143	2,601	—	80.9%	0.6 bps	—	—	17th	—	86.6%
marketable_limit	$250–$999 • ROUND	122	91,702	—	47.9%	-14.5 bps	—	—	7th	—	77.5%
marketable_limit	$1k–$5k • ODD	250	12,395	—	79.5%	1.3 bps	—	—	39th	—	89.3%
marketable_limit	$1k–$5k • ROUND	508	1,275,855	—	41.4%	5.0 bps	—	—	61st	—	94.1%
marketable_limit	$5k–$10k • ODD	32	1,809	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ROUND	427	1,335,468	—	47.1%	8.2 bps	—	—	90th	—	86.2%
marketable_limit	$10k–$20k • ODD	10	771	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ROUND	374	1,702,539	—	45.6%	3.4 bps	—	—	72nd	—	94.1%
marketable_limit	$20k–$50k • ODD	2	176	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ROUND	266	3,806,123	—	19.5%	-3.9 bps	—	—	8th	—	64.7%
marketable_limit	$50k–$200k • ROUND	179	2,031,511	—	19.9%	-8.1 bps	—	—	5th	—	69.4%
marketable_limit	≥$200k • ROUND	59	3,031,852	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • ODD	27	335	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • ROUND	10	2,151	—	—	—	—	—	—	—	—
nonmarketable_limit	$250–$999 • ODD	68	1,064	—	—	—	—	—	—	—	—
nonmarketable_limit	$250–$999 • ROUND	56	15,059	—	—	—	—	—	—	—	—
nonmarketable_limit	$1k–$5k • ODD	165	7,386	—	100.0%	22.6 bps	—	—	87th	—	36.7%
nonmarketable_limit	$1k–$5k • ROUND	581	1,110,655	—	100.0%	127.9 bps	—	—	98th	—	43.0%
nonmarketable_limit	$5k–$10k • ODD	57	2,548	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ROUND	526	1,172,474	—	100.0%	73.5 bps	—	—	96th	—	34.7%
nonmarketable_limit	$10k–$20k • ODD	61	3,461	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ROUND	411	1,053,816	—	100.0%	54.6 bps	—	—	95th	—	31.6%
nonmarketable_limit	$20k–$50k • ODD	1	90	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	343	1,924,400	—	100.0%	31.2 bps	—	—	93rd	—	17.2%
nonmarketable_limit	$50k–$200k • ROUND	435	2,519,457	—	100.0%	12.2 bps	—	—	78th	—	23.4%
nonmarketable_limit	≥$200k • ROUND	58	829,780	—	—	—	—	—	—	—	—
market	<$250 • ODD	8,738	13,901	—	98.5%	0.8 bps	—	—	3rd	—	99.8%
market	$250–$999 • ODD	14,991	51,206	—	97.3%	1.0 bps	—	—	3rd	—	99.8%
market	$1k–$5k • ODD	14,173	188,717	—	97.3%	1.1 bps	—	—	5th	—	99.9%
market	$1k–$5k • ROUND	235	26,201	—	98.1%	0.6 bps	—	—	2nd	—	100.0%
market	$5k–$10k • ODD	3,598	106,928	—	96.9%	0.9 bps	—	—	1st	—	99.9%
market	$5k–$10k • ROUND	469	78,728	—	94.4%	0.6 bps	—	—	2nd	—	99.6%
market	$10k–$20k • ODD	1,975	84,056	—	95.6%	1.1 bps	—	—	6th	—	99.7%
market	$10k–$20k • ROUND	1,274	205,330	—	92.8%	0.8 bps	—	—	3rd	—	99.8%
market	$20k–$50k • ODD	379	18,057	—	97.2%	1.3 bps	—	—	5th	—	100.0%
market	$20k–$50k • ROUND	2,489	539,758	—	86.5%	0.7 bps	—	—	1st	—	99.7%
market	$50k–$200k • ODD	1	31	—	—	—	—	—	—	—	—
market	$50k–$200k • ROUND	1,454	898,019	—	79.6%	0.5 bps	—	—	3rd	—	100.0%
market	≥$200k • ROUND	427	2,013,833	—	42.2%	-0.4 bps	—	—	8th	—	82.3%
marketable_limit	<$250 • ODD	7	17	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • ODD	26	386	—	—	—	—	—	—	—	—
marketable_limit	$1k–$5k • ODD	57	1,173	—	—	—	—	—	—	—	—
marketable_limit	$1k–$5k • ROUND	6	813	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ODD	41	1,316	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ROUND	19	4,571	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ODD	36	1,800	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ROUND	36	8,505	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ODD	4	233	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ROUND	90	30,474	—	—	—	—	—	—	—	—
marketable_limit	$50k–$200k • ROUND	93	60,272	—	—	—	—	—	—	—	—
marketable_limit	≥$200k • ROUND	58	150,167	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • ODD	9	37	—	—	—	—	—	—	—	—
nonmarketable_limit	$250–$999 • ODD	19	88	—	—	—	—	—	—	—	—
nonmarketable_limit	$1k–$5k • ODD	46	1,157	—	—	—	—	—	—	—	—
nonmarketable_limit	$1k–$5k • ROUND	2	300	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ODD	67	2,059	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ROUND	13	2,701	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ODD	39	1,810	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ROUND	53	10,181	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ODD	20	947	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	97	24,058	—	—	—	—	—	—	—	—
nonmarketable_limit	$50k–$200k • ROUND	231	111,271	—	100.0%	2.7 bps	—	—	31st	—	53.8%
nonmarketable_limit	≥$200k • ROUND	93	232,757	—	—	—	—	—	—	—	—

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
LGNT202608.csv	202608	summary	stored	2026-09-30T21:17:20.841264976+00:00	File Link ↗
LGNT202608.zip	202608	detailed	stored	2026-09-30T21:17:20.841266359+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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