NOMAD INVESTMENT SERVICES

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

Status: ACTIVE

Generated: Wed, 14 Oct 2026 18:32:20 GMT

Quarter:2026Q3

Covered Orders391,245Across all reported tiers

Covered Shares7,801,294In Q3 2026

Active Tiers92Order 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	22,900	7,047	—	99.5%	1.7 bps	—	—	19th	—	100.0%
market	<$250 • ODD	130,890	378,515	—	93.8%	2.6 bps	—	—	7th	—	100.0%
market	<$250 • ROUND	697	142,079	—	61.2%	14.7 bps	—	—	22nd	—	100.0%
market	$250–$999 • FRACT	890	552	—	98.9%	0.7 bps	—	—	26th	—	100.0%
market	$250–$999 • ODD	58,774	380,857	—	94.7%	1.5 bps	—	—	5th	—	100.0%
market	$250–$999 • ROUND	1,251	392,754	—	69.3%	11.8 bps	—	—	30th	—	100.0%
market	$1k–$5k • FRACT	39	28	—	—	—	—	—	—	—	—
market	$1k–$5k • ODD	21,867	485,707	—	94.3%	1.1 bps	—	—	4th	—	100.0%
market	$1k–$5k • ROUND	2,707	1,169,598	—	77.9%	6.3 bps	—	—	43rd	—	100.0%
market	$5k–$10k • ODD	1,877	99,700	—	95.6%	0.8 bps	—	—	3rd	—	100.0%
market	$5k–$10k • ROUND	998	582,908	—	81.0%	2.3 bps	—	—	17th	—	100.0%
market	$10k–$20k • ODD	361	18,540	—	92.1%	1.4 bps	—	—	8th	—	100.0%
market	$10k–$20k • ROUND	1,038	531,795	—	85.5%	1.2 bps	—	—	13th	—	98.1%
market	$20k–$50k • ODD	32	1,342	—	—	—	—	—	—	—	—
market	$20k–$50k • ROUND	638	958,913	—	53.7%	1.5 bps	—	—	23rd	—	100.0%
market	$50k–$200k • ROUND	214	512,057	—	60.3%	0.5 bps	—	—	25th	—	97.7%
market	≥$200k • ROUND	30	551,241	—	—	—	—	—	—	—	—
marketable_limit	<$250 • FRACT	124	28	—	100.0%	0.9 bps	—	—	20th	—	100.0%
marketable_limit	<$250 • ODD	500	3,378	—	90.3%	4.3 bps	—	—	53rd	—	100.0%
marketable_limit	<$250 • ROUND	8	1,867	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • FRACT	1	1	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • ODD	274	4,550	—	87.4%	2.6 bps	—	—	49th	—	100.0%
marketable_limit	$250–$999 • ROUND	47	15,939	—	—	—	—	—	—	—	—
marketable_limit	$1k–$5k • ODD	155	3,520	—	82.2%	1.3 bps	—	—	36th	—	100.0%
marketable_limit	$1k–$5k • ROUND	86	36,850	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ODD	8	393	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ROUND	28	17,904	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ODD	5	191	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ROUND	12	50,464	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ROUND	7	41,839	—	—	—	—	—	—	—	—
marketable_limit	$50k–$200k • ROUND	4	7,229	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • FRACT	577	156	—	100.0%	6.9 bps	—	—	15th	—	29.0%
nonmarketable_limit	<$250 • ODD	3,436	26,933	—	100.0%	23.1 bps	—	—	49th	—	19.5%
nonmarketable_limit	<$250 • ROUND	135	17,129	—	100.0%	56.2 bps	—	—	48th	—	21.4%
nonmarketable_limit	$250–$999 • FRACT	14	8	—	—	—	—	—	—	—	—
nonmarketable_limit	$250–$999 • ODD	1,458	26,558	—	100.0%	8.4 bps	—	—	16th	—	27.3%
nonmarketable_limit	$250–$999 • ROUND	299	69,214	—	100.0%	76.1 bps	—	—	86th	—	16.8%
nonmarketable_limit	$1k–$5k • FRACT	1	1	—	—	—	—	—	—	—	—
nonmarketable_limit	$1k–$5k • ODD	748	19,362	—	100.0%	8.3 bps	—	—	32nd	—	38.1%
nonmarketable_limit	$1k–$5k • ROUND	515	287,918	—	100.0%	28.8 bps	—	—	62nd	—	22.7%
nonmarketable_limit	$5k–$10k • ODD	79	3,912	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ROUND	126	97,328	—	100.0%	6.6 bps	—	—	11th	—	18.6%
nonmarketable_limit	$10k–$20k • ODD	14	773	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ROUND	87	180,703	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ODD	1	75	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	55	134,021	—	—	—	—	—	—	—	—
nonmarketable_limit	$50k–$200k • ROUND	24	76,286	—	—	—	—	—	—	—	—
nonmarketable_limit	≥$200k • ROUND	2	12,028	—	—	—	—	—	—	—	—
market	<$250 • FRACT	25,909	4,908	—	99.6%	1.4 bps	—	—	30th	—	100.0%
market	<$250 • ODD	37,520	48,305	—	98.5%	1.3 bps	—	—	9th	—	100.0%
market	$250–$999 • FRACT	2,297	1,374	—	99.5%	1.6 bps	—	—	26th	—	100.0%
market	$250–$999 • ODD	50,317	88,089	—	96.7%	1.3 bps	—	—	5th	—	100.0%
market	$1k–$5k • FRACT	150	123	—	100.0%	2.1 bps	—	—	43rd	—	100.0%
market	$1k–$5k • ODD	15,097	89,558	—	96.9%	1.5 bps	—	—	12th	—	100.0%
market	$1k–$5k • ROUND	62	8,306	—	—	—	—	—	—	—	—
market	$5k–$10k • ODD	1,105	22,461	—	96.4%	1.4 bps	—	—	10th	—	100.0%
market	$5k–$10k • ROUND	48	7,444	—	—	—	—	—	—	—	—
market	$10k–$20k • ODD	632	21,703	—	96.1%	1.7 bps	—	—	22nd	—	100.0%
market	$10k–$20k • ROUND	95	12,254	—	—	—	—	—	—	—	—
market	$20k–$50k • ODD	156	6,247	—	94.3%	1.5 bps	—	—	7th	—	100.0%
market	$20k–$50k • ROUND	182	29,197	—	91.0%	1.6 bps	—	—	32nd	—	100.0%
market	$50k–$200k • ODD	6	216	—	—	—	—	—	—	—	—
market	$50k–$200k • ROUND	89	29,897	—	—	—	—	—	—	—	—
market	≥$200k • ROUND	3	46,833	—	—	—	—	—	—	—	—
marketable_limit	<$250 • FRACT	145	24	—	100.0%	1.0 bps	—	—	21st	—	100.0%
marketable_limit	<$250 • ODD	88	144	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • FRACT	8	4	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • ODD	191	821	—	92.6%	2.2 bps	—	—	77th	—	100.0%
marketable_limit	$1k–$5k • FRACT	1	1	—	—	—	—	—	—	—	—
marketable_limit	$1k–$5k • ODD	112	1,337	—	86.8%	1.8 bps	—	—	53rd	—	100.0%
marketable_limit	$1k–$5k • ROUND	1	195	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ODD	16	270	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ROUND	4	400	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ODD	7	184	—	—	—	—	—	—	—	—
marketable_limit	$10k–$20k • ROUND	6	685	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ROUND	2	240	—	—	—	—	—	—	—	—
marketable_limit	$50k–$200k • ROUND	1	2,200	—	—	—	—	—	—	—	—
nonmarketable_limit	<$250 • FRACT	689	131	—	100.0%	5.0 bps	—	—	35th	—	47.5%
nonmarketable_limit	<$250 • ODD	568	869	—	100.0%	8.0 bps	—	—	87th	—	42.1%
nonmarketable_limit	$250–$999 • FRACT	56	27	—	—	—	—	—	—	—	—
nonmarketable_limit	$250–$999 • ODD	914	3,657	—	100.0%	4.0 bps	—	—	50th	—	46.2%
nonmarketable_limit	$1k–$5k • FRACT	6	5	—	—	—	—	—	—	—	—
nonmarketable_limit	$1k–$5k • ODD	555	7,076	—	100.0%	4.4 bps	—	—	55th	—	52.6%
nonmarketable_limit	$1k–$5k • ROUND	10	1,272	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ODD	92	2,189	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ROUND	4	810	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ODD	32	1,113	—	—	—	—	—	—	—	—
nonmarketable_limit	$10k–$20k • ROUND	11	3,397	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ODD	2	57	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	13	2,301	—	—	—	—	—	—	—	—
nonmarketable_limit	$50k–$200k • ROUND	9	4,048	—	—	—	—	—	—	—	—
nonmarketable_limit	≥$200k • ROUND	1	735	—	—	—	—	—	—	—	—

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
NOMA202608.csv	202608	summary	stored	2026-09-30T21:17:20.841348316+00:00	File Link ↗
NOMA202608.zip	202608	detailed	stored	2026-09-30T21:17:20.841349678+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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