OPPENHEIMER & CO. INC.

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

Status: ACTIVE

Generated: Wed, 14 Oct 2026 19:30:14 GMT

Quarter:2026Q3

Covered Orders217,499Across all reported tiers

Covered Shares79,569,908In Q3 2026

Active Tiers82Order 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	10,777	40,591	—	96.1%	2.2 bps	—	—	6th	—	99.0%
market	<$250 • ROUND	38	14,865	—	—	—	—	—	—	—	—
market	$250–$999 • ODD	15,121	172,189	—	95.6%	2.2 bps	—	—	13th	—	97.6%
market	$250–$999 • ROUND	460	118,713	—	78.5%	6.9 bps	—	—	9th	—	96.9%
market	$1k–$5k • ODD	16,432	474,378	—	93.6%	2.2 bps	—	—	12th	—	96.7%
market	$1k–$5k • ROUND	5,474	1,686,023	—	65.8%	3.7 bps	—	—	16th	—	95.4%
market	$5k–$10k • ODD	3,984	191,938	—	91.1%	2.2 bps	—	—	14th	—	95.1%
market	$5k–$10k • ROUND	5,709	2,499,485	—	62.8%	2.3 bps	—	—	20th	—	93.1%
market	$10k–$20k • ODD	1,408	76,795	—	91.0%	1.9 bps	—	—	13th	—	92.4%
market	$10k–$20k • ROUND	7,089	4,225,813	—	61.3%	1.6 bps	—	—	22nd	—	92.4%
market	$20k–$50k • ODD	147	9,960	—	91.1%	1.2 bps	—	—	7th	—	92.3%
market	$20k–$50k • ROUND	6,513	6,554,420	—	54.8%	1.5 bps	—	—	25th	—	90.4%
market	$50k–$200k • ROUND	3,367	8,410,027	0.5%	41.0%	0.5 bps	—	0%	22nd	$0.0957	89.6%
market	≥$200k • ROUND	647	5,838,276	0.2%	33.8%	-1.0 bps	—	0%	34th	$0.0270	81.3%
marketable_limit	<$250 • ODD	328	2,442	—	93.2%	1.7 bps	—	—	31st	—	100.0%
marketable_limit	<$250 • ROUND	38	21,450	—	—	—	—	—	—	—	—
marketable_limit	$250–$999 • ODD	1,122	31,356	—	89.7%	2.3 bps	—	—	44th	—	100.0%
marketable_limit	$250–$999 • ROUND	447	169,436	—	70.4%	9.4 bps	—	—	56th	—	99.5%
marketable_limit	$1k–$5k • ODD	2,755	93,171	—	91.8%	1.7 bps	—	—	43rd	—	99.7%
marketable_limit	$1k–$5k • ROUND	3,478	1,413,572	—	61.7%	3.1 bps	—	—	50th	—	98.1%
marketable_limit	$5k–$10k • ODD	919	44,434	—	90.9%	1.3 bps	—	—	44th	—	99.4%
marketable_limit	$5k–$10k • ROUND	2,371	1,430,344	—	58.4%	2.3 bps	—	—	53rd	—	94.8%
marketable_limit	$10k–$20k • ODD	457	25,827	—	93.7%	1.4 bps	—	—	48th	—	99.8%
marketable_limit	$10k–$20k • ROUND	2,316	2,277,973	—	57.7%	1.8 bps	—	—	57th	—	84.5%
marketable_limit	$20k–$50k • ODD	27	1,757	—	—	—	—	—	—	—	—
marketable_limit	$20k–$50k • ROUND	1,998	3,786,506	—	45.4%	1.1 bps	—	—	55th	—	84.3%
marketable_limit	$50k–$200k • ODD	1	85	—	—	—	—	—	—	—	—
marketable_limit	$50k–$200k • ROUND	1,091	6,696,311	—	28.7%	-0.2 bps	—	—	12th	—	76.4%
marketable_limit	≥$200k • ROUND	240	4,010,160	—	15.8%	-0.7 bps	—	—	31st	—	72.5%
nonmarketable_limit	<$250 • ODD	500	4,192	—	100.0%	36.4 bps	—	—	80th	—	36.8%
nonmarketable_limit	<$250 • ROUND	42	24,321	—	—	—	—	—	—	—	—
nonmarketable_limit	$250–$999 • ODD	1,859	52,845	—	100.0%	30.8 bps	—	—	84th	—	41.0%
nonmarketable_limit	$250–$999 • ROUND	726	204,573	—	100.0%	102.4 bps	—	—	90th	—	38.6%
nonmarketable_limit	$1k–$5k • ODD	4,511	147,952	—	100.0%	15.4 bps	—	—	66th	—	45.0%
nonmarketable_limit	$1k–$5k • ROUND	5,023	1,913,428	—	100.0%	37.4 bps	—	—	78th	—	30.6%
nonmarketable_limit	$5k–$10k • ODD	1,965	88,643	—	100.0%	10.0 bps	—	—	56th	—	52.6%
nonmarketable_limit	$5k–$10k • ROUND	3,658	2,039,212	—	100.0%	25.7 bps	—	—	79th	—	29.5%
nonmarketable_limit	$10k–$20k • ODD	885	52,175	—	100.0%	10.6 bps	—	—	57th	—	53.8%
nonmarketable_limit	$10k–$20k • ROUND	3,503	2,877,004	—	100.0%	20.8 bps	—	—	81st	—	28.8%
nonmarketable_limit	$20k–$50k • ODD	42	3,060	—	—	—	—	—	—	—	—
nonmarketable_limit	$20k–$50k • ROUND	2,996	3,784,070	—	100.0%	15.6 bps	—	—	81st	—	32.8%
nonmarketable_limit	$50k–$200k • ROUND	1,413	4,676,735	—	100.0%	14.7 bps	—	—	85th	—	30.7%
nonmarketable_limit	≥$200k • ROUND	364	4,032,641	—	100.0%	8.8 bps	—	—	76th	—	30.3%
market	<$250 • ODD	5,963	10,848	—	97.8%	0.9 bps	—	—	4th	—	99.9%
market	$250–$999 • ODD	17,595	74,668	—	97.2%	1.0 bps	—	—	1st	—	99.5%
market	$1k–$5k • ODD	22,185	331,589	—	96.1%	1.0 bps	—	—	3rd	—	98.6%
market	$1k–$5k • ROUND	648	78,344	—	65.2%	0.6 bps	—	—	3rd	—	95.6%
market	$5k–$10k • ODD	7,742	239,577	—	94.2%	1.0 bps	—	—	3rd	—	97.4%
market	$5k–$10k • ROUND	1,225	205,148	—	67.1%	0.7 bps	—	—	5th	—	94.1%
market	$10k–$20k • ODD	3,968	167,298	—	94.1%	1.0 bps	—	—	3rd	—	95.9%
market	$10k–$20k • ROUND	3,033	519,045	—	69.9%	0.8 bps	—	—	4th	—	92.1%
market	$20k–$50k • ODD	753	33,658	—	94.7%	1.2 bps	—	—	3rd	—	95.8%
market	$20k–$50k • ROUND	4,703	1,133,759	—	68.0%	0.8 bps	—	—	4th	—	91.3%
market	$50k–$200k • ODD	8	263	—	—	—	—	—	—	—	—
market	$50k–$200k • ROUND	2,594	1,471,900	—	65.9%	0.7 bps	—	—	9th	—	93.0%
market	≥$200k • ROUND	672	2,137,045	—	35.5%	0.3 bps	—	—	26th	—	91.4%
marketable_limit	<$250 • ODD	118	155	—	95.3%	0.4 bps	—	—	23rd	—	100.0%
marketable_limit	$250–$999 • ODD	672	2,806	—	95.4%	1.0 bps	—	—	41st	—	100.0%
marketable_limit	$1k–$5k • ODD	3,143	41,630	—	94.6%	0.8 bps	—	—	34th	—	99.5%
marketable_limit	$1k–$5k • ROUND	74	9,760	—	—	—	—	—	—	—	—
marketable_limit	$5k–$10k • ODD	1,902	51,996	—	93.8%	0.8 bps	—	—	38th	—	99.5%
marketable_limit	$5k–$10k • ROUND	157	27,175	—	68.8%	0.7 bps	—	—	52nd	—	98.1%
marketable_limit	$10k–$20k • ODD	1,026	41,278	—	94.2%	0.8 bps	—	—	39th	—	99.3%
marketable_limit	$10k–$20k • ROUND	554	86,306	—	63.2%	0.7 bps	—	—	39th	—	99.1%
marketable_limit	$20k–$50k • ODD	210	8,260	—	93.2%	0.9 bps	—	—	42nd	—	100.0%
marketable_limit	$20k–$50k • ROUND	925	204,280	—	70.6%	0.7 bps	—	—	37th	—	97.3%
marketable_limit	$50k–$200k • ODD	10	354	—	—	—	—	—	—	—	—
marketable_limit	$50k–$200k • ROUND	614	294,651	—	62.0%	0.7 bps	—	—	38th	—	97.8%
marketable_limit	≥$200k • ROUND	158	521,319	—	29.2%	-0.7 bps	—	—	12th	—	81.8%
nonmarketable_limit	<$250 • ODD	129	181	—	100.0%	12.1 bps	—	—	92nd	—	55.6%
nonmarketable_limit	$250–$999 • ODD	958	3,593	—	100.0%	8.5 bps	—	—	92nd	—	51.5%
nonmarketable_limit	$1k–$5k • ODD	4,600	58,970	—	100.0%	5.8 bps	—	—	78th	—	58.1%
nonmarketable_limit	$1k–$5k • ROUND	59	8,240	—	—	—	—	—	—	—	—
nonmarketable_limit	$5k–$10k • ODD	3,094	85,827	—	100.0%	7.6 bps	—	—	88th	—	61.3%
nonmarketable_limit	$5k–$10k • ROUND	191	32,728	—	100.0%	3.5 bps	—	—	73rd	—	39.5%
nonmarketable_limit	$10k–$20k • ODD	1,674	69,489	—	100.0%	9.5 bps	—	—	92nd	—	63.4%
nonmarketable_limit	$10k–$20k • ROUND	883	131,209	—	100.0%	4.7 bps	—	—	79th	—	44.0%
nonmarketable_limit	$20k–$50k • ODD	372	15,313	—	100.0%	3.9 bps	—	—	49th	—	66.5%
nonmarketable_limit	$20k–$50k • ROUND	1,456	308,205	—	100.0%	3.3 bps	—	—	51st	—	49.4%
nonmarketable_limit	$50k–$200k • ODD	9	320	—	—	—	—	—	—	—	—
nonmarketable_limit	$50k–$200k • ROUND	916	417,983	—	100.0%	8.3 bps	—	—	95th	—	51.7%
nonmarketable_limit	≥$200k • ROUND	265	525,590	—	100.0%	2.7 bps	—	—	38th	—	57.3%

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
TOPCO202607.dat	202607	detailed	stored	2026-09-29T02:18:21.925+00:00	File Link ↗
TOPCO202607.zip	202607	detailed	variant		File Link ↗
OPCO202608.zip	202608	detailed	stored	2026-09-29T17:30:25.253545+00:00	File Link ↗
OPCO202608.csv	202608	summary	stored	2026-09-29T17:30:25.253545+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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