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Rule 605 Market Center Scorecard
MAXIM GROUP LLC
Status: ACTIVE
Generated: Wed, 14 Oct 2026 18:30:22 GMT
Quarter:2026Q3
Covered Orders7,424Across all reported tiers
Covered Shares10,554,351In Q3 2026
Active Tiers70Order 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 | 6 | 3 | — | — | — | — | — | — | — | — |
| market | <$250 • ODD | 32 | 304 | — | — | — | — | — | — | — | — |
| market | <$250 • ROUND | 6 | 5,975 | — | — | — | — | — | — | — | — |
| market | $250–$999 • ODD | 59 | 1,211 | — | — | — | — | — | — | — | — |
| market | $250–$999 • ROUND | 18 | 4,223 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ODD | 81 | 2,961 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ROUND | 141 | 92,134 | — | 61.6% | 6.1 bps | — | — | 40th | — | 100.0% |
| market | $5k–$10k • ODD | 44 | 2,433 | — | — | — | — | — | — | — | — |
| market | $5k–$10k • ROUND | 231 | 193,795 | — | 67.7% | 3.5 bps | — | — | 36th | — | 100.0% |
| market | $10k–$20k • ODD | 22 | 1,105 | — | — | — | — | — | — | — | — |
| market | $10k–$20k • ROUND | 473 | 452,522 | — | 51.2% | 1.0 bps | — | — | 9th | — | 100.0% |
| market | $20k–$50k • ODD | 2 | 107 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ROUND | 679 | 1,057,250 | — | 49.7% | 0.6 bps | — | — | 8th | — | 100.0% |
| market | $50k–$200k • ROUND | 323 | 844,460 | — | 50.8% | 0.5 bps | — | — | 23rd | — | 100.0% |
| market | ≥$200k • ROUND | 32 | 109,554 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • ODD | 3 | 120 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • ROUND | 8 | 3,070 | — | — | — | — | — | — | — | — |
| marketable_limit | $250–$999 • ODD | 4 | 338 | — | — | — | — | — | — | — | — |
| marketable_limit | $250–$999 • ROUND | 31 | 14,027 | — | — | — | — | — | — | — | — |
| marketable_limit | $1k–$5k • ODD | 4 | 318 | — | — | — | — | — | — | — | — |
| marketable_limit | $1k–$5k • ROUND | 629 | 493,877 | — | 31.5% | 0.6 bps | — | — | 26th | — | 93.3% |
| marketable_limit | $5k–$10k • ODD | 1 | 65 | — | — | — | — | — | — | — | — |
| marketable_limit | $5k–$10k • ROUND | 678 | 1,797,490 | — | 23.1% | -3.5 bps | — | — | 8th | — | 95.0% |
| marketable_limit | $10k–$20k • ROUND | 1,247 | 1,078,444 | — | 44.6% | 0.2 bps | — | — | 18th | — | 87.2% |
| marketable_limit | $20k–$50k • ROUND | 118 | 488,329 | — | 20.3% | -2.6 bps | — | — | 9th | — | 92.9% |
| marketable_limit | $50k–$200k • ROUND | 40 | 329,085 | — | — | — | — | — | — | — | — |
| marketable_limit | ≥$200k • ROUND | 4 | 108,226 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | <$250 • ODD | 1 | 20 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | <$250 • ROUND | 3 | 531 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ODD | 4 | 72 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ROUND | 23 | 11,701 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ODD | 9 | 361 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ROUND | 312 | 865,740 | — | 100.0% | 81.2 bps | — | — | 92nd | — | 23.1% |
| nonmarketable_limit | $5k–$10k • ODD | 5 | 236 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ROUND | 294 | 809,664 | — | 100.0% | 73.2 bps | — | — | 95th | — | 47.0% |
| nonmarketable_limit | $10k–$20k • ODD | 2 | 130 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ROUND | 191 | 651,314 | — | 100.0% | 29.4 bps | — | — | 91st | — | 30.4% |
| nonmarketable_limit | $20k–$50k • ODD | 1 | 86 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $20k–$50k • ROUND | 121 | 355,885 | — | 100.0% | 12.8 bps | — | — | 65th | — | 21.0% |
| nonmarketable_limit | $50k–$200k • ROUND | 52 | 257,864 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | ≥$200k • ROUND | 1 | 10,000 | — | — | — | — | — | — | — | — |
| market | <$250 • FRACT | 1 | 0 | — | — | — | — | — | — | — | — |
| market | <$250 • ODD | 3 | 10 | — | — | — | — | — | — | — | — |
| market | $250–$999 • ODD | 28 | 148 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ODD | 116 | 2,511 | — | 93.1% | 1.8 bps | — | — | 24th | — | 100.0% |
| market | $1k–$5k • ROUND | 8 | 1,384 | — | — | — | — | — | — | — | — |
| market | $5k–$10k • ODD | 89 | 3,145 | — | — | — | — | — | — | — | — |
| market | $5k–$10k • ROUND | 45 | 8,591 | — | — | — | — | — | — | — | — |
| market | $10k–$20k • ODD | 74 | 3,337 | — | — | — | — | — | — | — | — |
| market | $10k–$20k • ROUND | 167 | 40,084 | — | 83.1% | 1.2 bps | — | — | 14th | — | 100.0% |
| market | $20k–$50k • ODD | 22 | 1,003 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ROUND | 341 | 121,528 | — | 64.5% | 1.0 bps | — | — | 13th | — | 100.0% |
| market | $50k–$200k • ROUND | 288 | 187,505 | — | 61.5% | 0.8 bps | — | — | 12th | — | 100.0% |
| market | ≥$200k • ROUND | 33 | 36,239 | — | — | — | — | — | — | — | — |
| marketable_limit | $5k–$10k • ODD | 2 | 75 | — | — | — | — | — | — | — | — |
| marketable_limit | $5k–$10k • ROUND | 1 | 100 | — | — | — | — | — | — | — | — |
| marketable_limit | $10k–$20k • ROUND | 9 | 2,815 | — | — | — | — | — | — | — | — |
| marketable_limit | $20k–$50k • ROUND | 22 | 9,994 | — | — | — | — | — | — | — | — |
| marketable_limit | $50k–$200k • ROUND | 14 | 17,487 | — | — | — | — | — | — | — | — |
| marketable_limit | ≥$200k • ROUND | 3 | 5,183 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ODD | 4 | 5 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ODD | 16 | 195 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ODD | 15 | 567 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ROUND | 5 | 540 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ODD | 18 | 542 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ROUND | 14 | 1,655 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $20k–$50k • ODD | 8 | 238 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $20k–$50k • ROUND | 85 | 22,719 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $50k–$200k • ROUND | 48 | 29,437 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | ≥$200k • ROUND | 10 | 12,283 | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|
| TMAXM202607.dat | 202607 | detailed | stored | 2026-10-01T06:17:55.995+00:00 | File Link ↗ |
| TMAXM202607.zip | 202607 | detailed | variant | File Link ↗ | |
| MAXM202608.csv | 202608 | summary | stored | 2026-09-30T21:17:20.841401437+00:00 | File Link ↗ |
| MAXM202608.zip | 202608 | detailed | stored | 2026-09-30T21:17:20.841402369+00:00 | File Link ↗ |
4. Coverage Gaps & Review Limitations
Suppressed Cells
53
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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