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Rule 605 Market Center Scorecard
NAVY FEDERAL INVESTMENT SERVICES, LLC
Status: ACTIVE
Generated: Wed, 14 Oct 2026 19:27:41 GMT
Quarter:2026Q3
Covered Orders133,906Across all reported tiers
Covered Shares2,603,823In 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 • FRACT | 5,070 | 1,542 | 0.1% | 99.8% | 0.9 bps | — | 0% | 10th | $0.0000 | 100.0% |
| market | <$250 • ODD | 98,220 | 168,512 | — | 96.5% | 1.3 bps | — | — | 1st | — | 100.0% |
| market | <$250 • ROUND | 190 | 48,457 | — | 67.0% | 24.9 bps | — | — | 50th | — | 100.0% |
| market | $250–$999 • FRACT | 39 | 28 | — | — | — | — | — | — | — | — |
| market | $250–$999 • ODD | 10,395 | 105,300 | — | 92.5% | 1.7 bps | — | — | 6th | — | 100.0% |
| market | $250–$999 • ROUND | 357 | 150,137 | — | 67.6% | 14.7 bps | — | — | 46th | — | 100.0% |
| market | $1k–$5k • ODD | 3,865 | 121,538 | — | 90.3% | 1.9 bps | — | — | 11th | — | 100.0% |
| market | $1k–$5k • ROUND | 823 | 503,718 | — | 53.0% | 4.6 bps | — | — | 28th | — | 100.0% |
| market | $5k–$10k • ODD | 431 | 22,118 | — | 86.3% | 1.7 bps | — | — | 11th | — | 100.0% |
| market | $5k–$10k • ROUND | 485 | 260,161 | — | 65.7% | 3.9 bps | — | — | 43rd | — | 100.0% |
| market | $10k–$20k • ODD | 78 | 3,382 | — | — | — | — | — | — | — | — |
| market | $10k–$20k • ROUND | 320 | 202,382 | — | 82.5% | 1.7 bps | — | — | 24th | — | 99.5% |
| market | $20k–$50k • ODD | 8 | 296 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ROUND | 281 | 335,734 | — | 67.8% | 0.1 bps | — | — | 3rd | — | 98.7% |
| market | $50k–$200k • ROUND | 95 | 211,595 | — | — | — | — | — | — | — | — |
| market | ≥$200k • ROUND | 2 | 4,585 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • FRACT | 2 | 1 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • ODD | 47 | 488 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • ROUND | 3 | 1,136 | — | — | — | — | — | — | — | — |
| marketable_limit | $250–$999 • ODD | 12 | 106 | — | — | — | — | — | — | — | — |
| marketable_limit | $250–$999 • ROUND | 2 | 200 | — | — | — | — | — | — | — | — |
| marketable_limit | $1k–$5k • ODD | 11 | 520 | — | — | — | — | — | — | — | — |
| marketable_limit | $1k–$5k • ROUND | 17 | 21,375 | — | — | — | — | — | — | — | — |
| marketable_limit | $5k–$10k • ODD | 2 | 62 | — | — | — | — | — | — | — | — |
| marketable_limit | $5k–$10k • ROUND | 7 | 40,357 | — | — | — | — | — | — | — | — |
| marketable_limit | $10k–$20k • ODD | 1 | 91 | — | — | — | — | — | — | — | — |
| marketable_limit | $10k–$20k • ROUND | 8 | 8,181 | — | — | — | — | — | — | — | — |
| marketable_limit | $20k–$50k • ROUND | 9 | 14,453 | — | — | — | — | — | — | — | — |
| marketable_limit | $50k–$200k • ROUND | 4 | 2,712 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | <$250 • FRACT | 35 | 6 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | <$250 • ODD | 247 | 1,669 | — | 100.0% | 14.2 bps | — | — | 24th | — | 17.7% |
| nonmarketable_limit | <$250 • ROUND | 14 | 3,640 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ODD | 105 | 1,593 | — | 100.0% | 32.8 bps | — | — | 92nd | — | 32.1% |
| nonmarketable_limit | $250–$999 • ROUND | 37 | 10,551 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ODD | 82 | 2,559 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ROUND | 79 | 63,377 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ODD | 23 | 872 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ROUND | 41 | 30,991 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ODD | 6 | 243 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ROUND | 41 | 45,302 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $20k–$50k • ROUND | 27 | 53,744 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $50k–$200k • ROUND | 3 | 2,038 | — | — | — | — | — | — | — | — |
| market | <$250 • FRACT | 1,652 | 422 | — | 99.8% | 1.1 bps | — | — | 17th | — | 100.0% |
| market | <$250 • ODD | 3,489 | 4,519 | — | 97.8% | 1.4 bps | — | — | 13th | — | 100.0% |
| market | $250–$999 • FRACT | 136 | 95 | — | 99.2% | 1.2 bps | — | — | 15th | — | 100.0% |
| market | $250–$999 • ODD | 4,254 | 9,134 | — | 95.6% | 1.4 bps | — | — | 7th | — | 100.0% |
| market | $1k–$5k • FRACT | 5 | 5 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ODD | 1,586 | 16,002 | — | 95.7% | 1.4 bps | — | — | 9th | — | 99.9% |
| market | $1k–$5k • ROUND | 26 | 3,230 | — | — | — | — | — | — | — | — |
| market | $5k–$10k • ODD | 325 | 8,670 | — | 96.7% | 1.5 bps | — | — | 14th | — | 100.0% |
| market | $5k–$10k • ROUND | 28 | 4,121 | — | — | — | — | — | — | — | — |
| market | $10k–$20k • ODD | 204 | 7,409 | — | 97.1% | 1.3 bps | — | — | 10th | — | 100.0% |
| market | $10k–$20k • ROUND | 86 | 16,520 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ODD | 20 | 948 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ROUND | 93 | 39,939 | — | — | — | — | — | — | — | — |
| market | $50k–$200k • ODD | 1 | 38 | — | — | — | — | — | — | — | — |
| market | $50k–$200k • ROUND | 27 | 16,529 | — | — | — | — | — | — | — | — |
| market | ≥$200k • ROUND | 1 | 1,338 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • FRACT | 11 | 1 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • ODD | 7 | 11 | — | — | — | — | — | — | — | — |
| marketable_limit | $250–$999 • ODD | 13 | 55 | — | — | — | — | — | — | — | — |
| marketable_limit | $1k–$5k • ODD | 14 | 131 | — | — | — | — | — | — | — | — |
| marketable_limit | $5k–$10k • ODD | 5 | 72 | — | — | — | — | — | — | — | — |
| marketable_limit | $10k–$20k • ODD | 3 | 76 | — | — | — | — | — | — | — | — |
| marketable_limit | $10k–$20k • ROUND | 1 | 250 | — | — | — | — | — | — | — | — |
| marketable_limit | $20k–$50k • ODD | 1 | 22 | — | — | — | — | — | — | — | — |
| marketable_limit | $20k–$50k • ROUND | 1 | 15 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | <$250 • FRACT | 107 | 7 | — | 100.0% | 1.1 bps | — | — | 0th | — | 36.8% |
| nonmarketable_limit | <$250 • ODD | 54 | 88 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ODD | 88 | 260 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ODD | 70 | 717 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ODD | 23 | 514 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ROUND | 9 | 1,607 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ODD | 17 | 736 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $10k–$20k • ROUND | 5 | 2,501 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $20k–$50k • ODD | 3 | 141 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $20k–$50k • ROUND | 10 | 11,184 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $50k–$200k • ROUND | 4 | 7,043 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | ≥$200k • ROUND | 3 | 3,724 | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|
| NFBS202608.csv | 202608 | summary | stored | 2026-09-30T21:17:20.841345741+00:00 | File Link ↗ |
| NFBS202608.zip | 202608 | detailed | stored | 2026-09-30T21:17:20.841347143+00:00 | File Link ↗ |
4. Coverage Gaps & Review Limitations
Suppressed Cells
58
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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