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Rule 605 Market Center Scorecard
OSAIC INSTITUTIONS, INC.
Status: ACTIVE
Generated: Thu, 15 Oct 2026 22:34:30 GMT
Quarter:2026Q3
Covered Orders24,428Across all reported tiers
Covered Shares3,559,544In Q3 2026
Active Tiers63Order 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 • Fractional | 223 | 113 | — | 0.0% | 0.0 bps | — | — | 3rd | — | 100.0% |
| Market | <$250 • Odd Lot | 2,214 | 6,776 | — | 93.0% | 3.3 bps | — | — | 16th | — | 100.0% |
| Market | <$250 • Round Lot | 2 | 245 | — | — | — | — | — | — | — | — |
| Market | $250–$999 • Fractional | 2 | 1 | — | — | — | — | — | — | — | — |
| Market | $250–$999 • Odd Lot | 3,844 | 40,300 | — | 92.3% | 3.2 bps | — | — | 21st | — | 100.0% |
| Market | $250–$999 • Round Lot | 29 | 10,646 | — | — | — | — | — | — | — | — |
| Market | $1k–$5k • Odd Lot | 4,828 | 155,588 | — | 91.0% | 2.6 bps | — | — | 18th | — | 100.0% |
| Market | $1k–$5k • Round Lot | 553 | 132,191 | — | 92.6% | 4.8 bps | — | — | 26th | — | 100.0% |
| Market | $5k–$10k • Odd Lot | 857 | 44,174 | — | 90.4% | 2.1 bps | — | — | 12th | — | 100.0% |
| Market | $5k–$10k • Round Lot | 1,070 | 260,603 | — | 95.1% | 3.4 bps | — | — | 26th | — | 100.0% |
| Market | $10k–$20k • Odd Lot | 236 | 12,815 | — | 92.2% | 1.9 bps | — | — | 15th | — | 100.0% |
| Market | $10k–$20k • Round Lot | 1,091 | 387,440 | — | 96.0% | 2.9 bps | — | — | 35th | — | 100.0% |
| Market | $20k–$50k • Odd Lot | 22 | 1,562 | — | — | — | — | — | — | — | — |
| Market | $20k–$50k • Round Lot | 973 | 700,196 | — | 88.8% | 2.5 bps | — | — | 37th | — | 100.0% |
| Market | $50k–$200k • Round Lot | 431 | 705,812 | — | 89.9% | 1.5 bps | — | — | 35th | — | 100.0% |
| Market | ≥$200k • Round Lot | 53 | 474,025 | — | — | — | — | — | — | — | — |
| Marketable Limit | $250–$999 • Round Lot | 2 | 758 | — | — | — | — | — | — | — | — |
| Marketable Limit | $1k–$5k • Odd Lot | 1 | 70 | — | — | — | — | — | — | — | — |
| Marketable Limit | $1k–$5k • Round Lot | 8 | 4,293 | — | — | — | — | — | — | — | — |
| Marketable Limit | $5k–$10k • Odd Lot | 1 | 65 | — | — | — | — | — | — | — | — |
| Marketable Limit | $5k–$10k • Round Lot | 7 | 2,189 | — | — | — | — | — | — | — | — |
| Marketable Limit | $10k–$20k • Round Lot | 5 | 2,467 | — | — | — | — | — | — | — | — |
| Marketable Limit | $20k–$50k • Round Lot | 7 | 18,025 | — | — | — | — | — | — | — | — |
| Marketable Limit | $50k–$200k • Round Lot | 3 | 8,500 | — | — | — | — | — | — | — | — |
| Marketable Limit | ≥$200k • Round Lot | 6 | 36,225 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $250–$999 • Odd Lot | 6 | 182 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $1k–$5k • Odd Lot | 7 | 149 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $1k–$5k • Round Lot | 19 | 3,790 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $5k–$10k • Odd Lot | 14 | 511 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $5k–$10k • Round Lot | 27 | 14,733 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $10k–$20k • Odd Lot | 14 | 687 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $10k–$20k • Round Lot | 32 | 18,496 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $20k–$50k • Round Lot | 18 | 25,560 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $50k–$200k • Round Lot | 47 | 70,444 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | ≥$200k • Round Lot | 11 | 41,405 | — | — | — | — | — | — | — | — |
| Market | <$250 • Fractional | 105 | 44 | — | 0.0% | 0.0 bps | — | — | 4th | — | 100.0% |
| Market | <$250 • Odd Lot | 632 | 1,149 | — | 97.1% | 3.3 bps | — | — | 72nd | — | 100.0% |
| Market | $250–$999 • Fractional | 6 | 4 | — | — | — | — | — | — | — | — |
| Market | $250–$999 • Odd Lot | 2,280 | 10,006 | — | 98.1% | 3.4 bps | — | — | 78th | — | 100.0% |
| Market | $250–$999 • Round Lot | 4 | 400 | — | — | — | — | — | — | — | — |
| Market | $1k–$5k • Odd Lot | 2,891 | 39,931 | — | 98.4% | 3.1 bps | — | — | 66th | — | 100.0% |
| Market | $1k–$5k • Round Lot | 49 | 5,499 | — | — | — | — | — | — | — | — |
| Market | $5k–$10k • Odd Lot | 705 | 21,450 | — | 97.4% | 2.8 bps | — | — | 54th | — | 100.0% |
| Market | $5k–$10k • Round Lot | 76 | 13,253 | — | — | — | — | — | — | — | — |
| Market | $10k–$20k • Odd Lot | 252 | 9,819 | — | 95.9% | 2.4 bps | — | — | 32nd | — | 100.0% |
| Market | $10k–$20k • Round Lot | 153 | 27,623 | — | 98.6% | 2.1 bps | — | — | 38th | — | 100.0% |
| Market | $20k–$50k • Odd Lot | 56 | 2,399 | — | — | — | — | — | — | — | — |
| Market | $20k–$50k • Round Lot | 255 | 56,051 | — | 98.2% | 2.0 bps | — | — | 40th | — | 100.0% |
| Market | $50k–$200k • Round Lot | 170 | 80,353 | — | 98.9% | 1.7 bps | — | — | 29th | — | 100.0% |
| Market | ≥$200k • Round Lot | 27 | 74,852 | — | — | — | — | — | — | — | — |
| Marketable Limit | $20k–$50k • Odd Lot | 1 | 23 | — | — | — | — | — | — | — | — |
| Marketable Limit | $20k–$50k • Round Lot | 3 | 1,204 | — | — | — | — | — | — | — | — |
| Marketable Limit | $50k–$200k • Round Lot | 2 | 1,700 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $1k–$5k • Odd Lot | 4 | 70 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $1k–$5k • Round Lot | 2 | 200 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $5k–$10k • Odd Lot | 22 | 384 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $5k–$10k • Round Lot | 4 | 550 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $10k–$20k • Odd Lot | 27 | 684 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $10k–$20k • Round Lot | 7 | 1,030 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $20k–$50k • Odd Lot | 2 | 123 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $20k–$50k • Round Lot | 11 | 3,687 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | $50k–$200k • Round Lot | 17 | 24,020 | — | — | — | — | — | — | — | — |
| Non-Marketable Limit | ≥$200k • Round Lot | 2 | 2,000 | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|
| OIIP202608.zip | 202608 | detailed | stored | 2026-10-15T20:12:42.649401734+00:00 | File Link ↗ |
| OIIP202608.csv | 202608 | summary | too_large | 2026-10-15T22:24:29.701+00:00 | File Link ↗ |
4. Coverage Gaps & Review Limitations
Suppressed Cells
43
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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