BETTERMENT SECURITIES

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

Status: ACTIVE

Generated: Wed, 14 Oct 2026 19:29:52 GMT

Quarter:2026Q3

Covered Orders267,342Across all reported tiers

Covered Shares33,504,224In Q3 2026

Active Tiers52Order 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	1	3	—	—	—	—	—	—	—	—
market	<$250 • ROUND	1	202	—	—	—	—	—	—	—	—
market	$250–$999 • ROUND	1	1,183	—	—	—	—	—	—	—	—
marketable_limit	<$250 • ODD	128,752	201,165	—	75.4%	1.5 bps	—	—	27th	—	59.2%
marketable_limit	<$250 • ROUND	5	687	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • ODD	46,679	357,425	—	73.9%	1.3 bps	—	—	30th	—	60.3%
marketable_limit	$250–$999 • ROUND	31	4,488	—	—	—	—	—	—	—	—
marketable_limit	$1k–$5k • ODD	36,331	1,242,921	—	74.7%	1.0 bps	—	—	33rd	—	64.8%
marketable_limit	$1k–$5k • ROUND	1,417	198,166	—	69.6%	1.5 bps	—	—	39th	—	52.0%
marketable_limit	$5k–$10k • ODD	5,722	348,273	—	76.1%	0.8 bps	—	—	35th	—	70.5%
marketable_limit	$5k–$10k • ROUND	6,347	992,214	—	71.5%	1.0 bps	—	—	36th	—	60.9%
marketable_limit	$10k–$20k • ODD	1,197	67,850	—	68.6%	1.0 bps	—	—	42nd	—	40.7%
marketable_limit	$10k–$20k • ROUND	8,054	1,935,924	—	70.8%	0.7 bps	—	—	38th	—	65.3%
marketable_limit	$20k–$50k • ODD	138	10,240	—	63.8%	1.1 bps	—	—	46th	—	32.8%
marketable_limit	$20k–$50k • ROUND	7,600	3,514,043	—	73.1%	0.6 bps	—	—	42nd	—	61.8%
marketable_limit	$50k–$200k • ROUND	5,357	7,339,927	—	71.4%	0.5 bps	—	—	50th	—	60.0%
marketable_limit	≥$200k • ROUND	1,855	16,903,295	—	54.4%	0.4 bps	—	—	86th	—	44.5%
nonmarketable_limit	<$250 • ODD	1,025	1,294	—	100.0%	6.6 bps	—	—	6th	—	44.7%
nonmarketable_limit	$250–$999 • ODD	493	1,734	—	100.0%	4.4 bps	—	—	2nd	—	32.1%
nonmarketable_limit	$1k–$5k • ODD	255	5,040	—	100.0%	4.7 bps	—	—	8th	—	30.1%
nonmarketable_limit	$1k–$5k • ROUND	5	969	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ODD	44	2,078	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ROUND	13	1,681	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ODD	26	1,395	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ROUND	41	9,299	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ODD	1	99	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	40	15,104	—	—	—	—	—	—	—	—
nonmarketable_limit	$50k–$200k • ROUND	37	46,932	—	—	—	—	—	—	—	—
nonmarketable_limit	≥$200k • ROUND	15	60,137	—	—	—	—	—	—	—	—
marketable_limit	<$250 • ODD	4,680	5,916	—	80.5%	2.6 bps	—	—	86th	—	56.9%
marketable_limit	$250–$999 • ODD	6,496	11,143	—	77.8%	2.2 bps	—	—	75th	—	59.0%
marketable_limit	$1k–$5k • ODD	2,499	18,502	—	77.4%	2.6 bps	—	—	84th	—	62.3%
marketable_limit	$1k–$5k • ROUND	12	999	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ODD	330	7,526	—	75.8%	2.2 bps	—	—	76th	—	58.8%
marketable_limit	$5k–$10k • ROUND	16	2,597	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ODD	152	5,488	—	78.7%	1.5 bps	—	—	49th	—	58.5%
marketable_limit	$10k–$20k • ROUND	54	12,656	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ODD	55	1,879	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ROUND	104	18,862	—	69.2%	2.1 bps	—	—	84th	—	61.7%
marketable_limit	$50k–$200k • ROUND	51	42,189	—	—	—	—	—	—	—	—
marketable_limit	≥$200k • ROUND	15	106,725	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • ODD	248	260	—	100.0%	5.2 bps	—	—	66th	—	58.7%
nonmarketable_limit	$250–$999 • ODD	810	1,011	—	100.0%	3.5 bps	—	—	33rd	—	51.4%
nonmarketable_limit	$1k–$5k • ODD	241	1,067	—	100.0%	3.8 bps	—	—	42nd	—	47.1%
nonmarketable_limit	$1k–$5k • ROUND	1	18	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ODD	36	753	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ROUND	1	146	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ODD	30	978	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ROUND	8	484	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ODD	12	300	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	6	680	—	—	—	—	—	—	—	—
nonmarketable_limit	$50k–$200k • ROUND	2	277	—	—	—	—	—	—	—	—

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
MTGO202608.csv	202608	summary	stored	2026-09-30T21:17:20.841267672+00:00	File Link ↗
MTGO202608.zip	202608	detailed	stored	2026-09-30T21:17:20.841269435+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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