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Rule 605 Market Center Scorecard
PERSHING LLC
MPID Firm: Pershing LLC(PFRA)
Status: ACTIVE
Generated: Wed, 14 Oct 2026 20:16:49 GMT
Quarter:2026Q3
1. Amended Rule 605 Scorecard vs. Mix-Adjusted Peers
Execution metrics across order classes and the 24 notional × lot categories, benchmarked against what competing market centers delivered on identical symbols.
No amended Rule 605 benchmark records available for this market center in 2026Q3.
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.
| Broker-Dealer | CRD | Month | Section | Route % | Mkt % | Limit % | PFOF Mkt (¢/100) | PFOF Mkt ($) | Action |
|---|---|---|---|---|---|---|---|---|---|
| T.ROWE PRICE | 8348 | 7- | other_stocks | 0.8% | 1.4% | 0.0% | 0.00 ¢ | $0.00 | Firm Review → |
| T.ROWE PRICE | 8348 | 7- | sp500 | 1.7% | 2.9% | 0.0% | 0.00 ¢ | $0.00 | Firm Review → |
| T.ROWE PRICE | 8348 | 8- | other_stocks | 0.8% | 1.4% | 0.0% | 0.00 ¢ | $0.00 | Firm Review → |
| T.ROWE PRICE | 8348 | 8- | sp500 | 1.9% | 3.2% | 0.0% | 0.00 ¢ | $0.00 | Firm Review → |
| T.ROWE PRICE | 8348 | 9- | other_stocks | 0.9% | 1.7% | 0.0% | 0.00 ¢ | $0.00 | Firm Review → |
| T.ROWE PRICE | 8348 | 9- | sp500 | 1.6% | 2.8% | 0.0% | 0.00 ¢ | $0.00 | Firm Review → |
| STATE FARM VP MANAGEMENT CORP | 43036 | 7- | other_stocks | 11.4% | 11.4% | 0.0% | 0.00 ¢ | $0.00 | Firm Review → |
| STATE FARM VP MANAGEMENT CORP | 43036 | 8- | other_stocks | 2.9% | 2.9% | 0.0% | 0.00 ¢ | $0.00 | Firm Review → |
| STATE FARM VP MANAGEMENT CORP | 43036 | 8- | sp500 | 0.6% | 0.6% | 0.0% | 0.00 ¢ | $0.00 | Firm Review → |
| STATE FARM VP MANAGEMENT CORP | 43036 | 9- | other_stocks | 16.4% | 16.4% | 0.0% | 0.00 ¢ | $0.00 | Firm Review → |
3. Rule 605 Report Files & Ingestion History
Published monthly execution quality data files crawled from vendor and exchange landing pages.
No raw Rule 605 files stored for this market center.
4. Coverage Gaps & Review Limitations
Suppressed Cells
0
Tiers with < 100 covered ordersMissing Files
1
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.
Does your firm route to PERSHING LLC? See which competing venues beat it on your symbol mix → Enter your Firm CRD