T. ROWE PRICE INVESTMENT SERVICES, INC.

Reporter ID: PICE • Quarter: 2026Q3 • Methodology: exq-3

Status: ACTIVE

Generated: Thu, 15 Oct 2026 22:38:00 GMT

Quarter:2026Q3

Covered Orders96,393Across all reported tiers

Covered Shares34,506,855In Q3 2026

Active Tiers94Order 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	1,236	455	—	37.7%	1.3 bps	—	—	29th	—	100.0%
Market	<$250 • Odd Lot	5,323	32,751	—	94.8%	6.6 bps	—	—	54th	—	100.0%
Market	<$250 • Round Lot	43	6,314	—	—	—	—	—	—	—	—
Market	$250–$999 • Fractional	90	60	—	—	—	—	—	—	—	—
Market	$250–$999 • Odd Lot	7,290	122,284	—	94.0%	5.5 bps	—	—	57th	—	100.0%
Market	$250–$999 • Round Lot	688	131,249	—	96.2%	12.7 bps	—	—	27th	—	100.0%
Market	$1k–$5k • Fractional	1	1	—	—	—	—	—	—	—	—
Market	$1k–$5k • Odd Lot	7,408	232,840	—	92.6%	5.1 bps	—	—	79th	—	100.0%
Market	$1k–$5k • Round Lot	3,951	1,107,977	—	93.3%	9.5 bps	—	—	75th	—	100.0%
Market	$5k–$10k • Odd Lot	2,152	93,160	—	93.7%	6.2 bps	—	—	93rd	—	100.0%
Market	$5k–$10k • Round Lot	3,556	1,417,359	—	95.6%	7.1 bps	—	—	85th	—	99.9%
Market	$10k–$20k • Odd Lot	892	46,266	—	95.0%	6.2 bps	—	—	94th	—	99.9%
Market	$10k–$20k • Round Lot	3,633	2,263,692	—	91.6%	5.6 bps	—	—	87th	—	99.9%
Market	$20k–$50k • Odd Lot	65	3,914	—	—	—	—	—	—	—	—
Market	$20k–$50k • Round Lot	3,498	3,614,883	—	83.4%	4.1 bps	—	—	82nd	—	99.6%
Market	$50k–$200k • Round Lot	1,944	4,394,072	—	71.6%	2.6 bps	—	—	74th	—	99.5%
Market	≥$200k • Round Lot	287	2,152,176	—	49.6%	0.5 bps	—	—	79th	—	96.5%
Marketable Limit	<$250 • Fractional	3	1	—	—	—	—	—	—	—	—
Marketable Limit	<$250 • Odd Lot	727	5,600	—	90.9%	4.8 bps	—	—	57th	—	100.0%
Marketable Limit	<$250 • Round Lot	2	211	—	—	—	—	—	—	—	—
Marketable Limit	$250–$999 • Fractional	4	3	—	—	—	—	—	—	—	—
Marketable Limit	$250–$999 • Odd Lot	704	13,278	—	90.5%	4.4 bps	—	—	66th	—	100.0%
Marketable Limit	$250–$999 • Round Lot	100	15,863	—	87.4%	10.6 bps	—	—	61st	—	100.0%
Marketable Limit	$1k–$5k • Odd Lot	573	18,453	—	91.0%	3.3 bps	—	—	66th	—	99.9%
Marketable Limit	$1k–$5k • Round Lot	544	168,956	—	88.5%	6.7 bps	—	—	63rd	—	99.9%
Marketable Limit	$5k–$10k • Odd Lot	130	5,873	—	92.8%	2.4 bps	—	—	63rd	—	99.7%
Marketable Limit	$5k–$10k • Round Lot	486	233,717	—	79.8%	4.6 bps	—	—	64th	—	98.2%
Marketable Limit	$10k–$20k • Odd Lot	36	1,815	—	—	—	—	—	—	—	—
Marketable Limit	$10k–$20k • Round Lot	407	484,519	—	69.1%	3.6 bps	—	—	67th	—	99.8%
Marketable Limit	$20k–$50k • Odd Lot	1	70	—	—	—	—	—	—	—	—
Marketable Limit	$20k–$50k • Round Lot	358	483,866	—	83.1%	3.3 bps	—	—	72nd	—	99.3%
Marketable Limit	$50k–$200k • Round Lot	268	1,282,553	—	47.5%	2.4 bps	—	—	88th	—	95.7%
Marketable Limit	≥$200k • Round Lot	57	2,090,000	—	—	—	—	—	—	—	—
Non-Marketable Limit	<$250 • Fractional	18	10	—	—	—	—	—	—	—	—
Non-Marketable Limit	<$250 • Odd Lot	2,302	13,787	—	100.0%	16.4 bps	—	—	37th	—	31.0%
Non-Marketable Limit	<$250 • Round Lot	9	1,517	—	—	—	—	—	—	—	—
Non-Marketable Limit	$250–$999 • Fractional	5	2	—	—	—	—	—	—	—	—
Non-Marketable Limit	$250–$999 • Odd Lot	2,789	50,106	—	100.0%	11.6 bps	—	—	36th	—	43.2%
Non-Marketable Limit	$250–$999 • Round Lot	274	41,650	—	100.0%	37.5 bps	—	—	36th	—	17.6%
Non-Marketable Limit	$1k–$5k • Odd Lot	2,302	75,730	—	100.0%	9.9 bps	—	—	40th	—	46.6%
Non-Marketable Limit	$1k–$5k • Round Lot	1,843	508,391	—	100.0%	18.9 bps	—	—	43rd	—	30.8%
Non-Marketable Limit	$5k–$10k • Odd Lot	459	19,992	—	100.0%	9.0 bps	—	—	49th	—	53.3%
Non-Marketable Limit	$5k–$10k • Round Lot	1,329	578,821	—	100.0%	14.6 bps	—	—	42nd	—	23.7%
Non-Marketable Limit	$10k–$20k • Odd Lot	157	8,618	—	100.0%	7.6 bps	—	—	35th	—	53.8%
Non-Marketable Limit	$10k–$20k • Round Lot	1,239	898,891	—	100.0%	10.5 bps	—	—	41st	—	21.1%
Non-Marketable Limit	$20k–$50k • Odd Lot	3	143	—	—	—	—	—	—	—	—
Non-Marketable Limit	$20k–$50k • Round Lot	1,159	1,324,022	—	100.0%	10.5 bps	—	—	51st	—	21.1%
Non-Marketable Limit	$50k–$200k • Round Lot	620	2,895,527	—	100.0%	9.5 bps	—	—	56th	—	16.5%
Non-Marketable Limit	≥$200k • Round Lot	192	4,135,325	—	100.0%	11.0 bps	—	—	87th	—	34.6%
Market	<$250 • Fractional	1,638	479	—	33.8%	0.8 bps	—	—	28th	—	100.0%
Market	<$250 • Odd Lot	1,097	2,180	—	98.0%	2.7 bps	—	—	45th	—	100.0%
Market	$250–$999 • Fractional	295	180	—	44.6%	1.7 bps	—	—	31st	—	100.0%
Market	$250–$999 • Odd Lot	4,147	17,632	—	97.4%	3.0 bps	—	—	57th	—	100.0%
Market	$1k–$5k • Fractional	13	11	—	—	—	—	—	—	—	—
Market	$1k–$5k • Odd Lot	7,004	96,919	—	96.8%	2.9 bps	—	—	57th	—	100.0%
Market	$1k–$5k • Round Lot	325	38,786	—	99.0%	2.0 bps	—	—	63rd	—	98.9%
Market	$5k–$10k • Odd Lot	3,148	86,602	—	97.3%	3.1 bps	—	—	70th	—	100.0%
Market	$5k–$10k • Round Lot	570	87,465	—	97.3%	2.1 bps	—	—	83rd	—	100.0%
Market	$10k–$20k • Odd Lot	1,959	74,467	—	96.3%	3.3 bps	—	—	77th	—	100.0%
Market	$10k–$20k • Round Lot	1,414	231,965	—	97.2%	2.6 bps	—	—	73rd	—	99.8%
Market	$20k–$50k • Odd Lot	505	20,214	—	98.1%	3.7 bps	—	—	75th	—	99.9%
Market	$20k–$50k • Round Lot	2,536	515,126	—	96.7%	2.8 bps	—	—	77th	—	100.0%
Market	$50k–$200k • Odd Lot	15	631	—	—	—	—	—	—	—	—
Market	$50k–$200k • Round Lot	1,484	649,164	—	91.6%	2.4 bps	—	—	51st	—	99.7%
Market	≥$200k • Round Lot	259	388,806	—	80.7%	1.6 bps	—	—	71st	—	100.0%
Marketable Limit	<$250 • Fractional	18	3	—	—	—	—	—	—	—	—
Marketable Limit	<$250 • Odd Lot	149	261	—	94.2%	1.9 bps	—	—	70th	—	99.2%
Marketable Limit	$250–$999 • Fractional	1	0	—	—	—	—	—	—	—	—
Marketable Limit	$250–$999 • Odd Lot	286	1,349	—	98.1%	2.7 bps	—	—	85th	—	100.0%
Marketable Limit	$1k–$5k • Odd Lot	523	7,913	—	92.0%	2.3 bps	—	—	71st	—	100.0%
Marketable Limit	$1k–$5k • Round Lot	39	4,703	—	—	—	—	—	—	—	—
Marketable Limit	$5k–$10k • Odd Lot	149	4,161	—	95.0%	2.3 bps	—	—	73rd	—	99.4%
Marketable Limit	$5k–$10k • Round Lot	67	10,025	—	—	—	—	—	—	—	—
Marketable Limit	$10k–$20k • Odd Lot	88	3,452	—	—	—	—	—	—	—	—
Marketable Limit	$10k–$20k • Round Lot	93	12,439	—	—	—	—	—	—	—	—
Marketable Limit	$20k–$50k • Odd Lot	25	832	—	—	—	—	—	—	—	—
Marketable Limit	$20k–$50k • Round Lot	187	40,458	—	93.0%	2.1 bps	—	—	80th	—	100.0%
Marketable Limit	$50k–$200k • Round Lot	135	112,975	—	93.1%	2.8 bps	—	—	97th	—	99.7%
Marketable Limit	≥$200k • Round Lot	41	100,637	—	—	—	—	—	—	—	—
Non-Marketable Limit	<$250 • Fractional	100	12	—	100.0%	6.5 bps	—	—	57th	—	70.0%
Non-Marketable Limit	<$250 • Odd Lot	676	1,180	—	100.0%	4.1 bps	—	—	46th	—	42.6%
Non-Marketable Limit	$250–$999 • Fractional	3	1	—	—	—	—	—	—	—	—
Non-Marketable Limit	$250–$999 • Odd Lot	1,039	4,007	—	100.0%	4.5 bps	—	—	66th	—	49.1%
Non-Marketable Limit	$1k–$5k • Odd Lot	2,112	29,206	—	100.0%	3.7 bps	—	—	38th	—	58.1%
Non-Marketable Limit	$1k–$5k • Round Lot	102	11,675	—	—	—	—	—	—	—	27.4%
Non-Marketable Limit	$5k–$10k • Odd Lot	685	19,289	—	100.0%	5.0 bps	—	—	73rd	—	61.7%
Non-Marketable Limit	$5k–$10k • Round Lot	179	25,312	—	100.0%	2.7 bps	—	—	34th	—	34.2%
Non-Marketable Limit	$10k–$20k • Odd Lot	310	11,272	—	100.0%	3.7 bps	—	—	43rd	—	61.7%
Non-Marketable Limit	$10k–$20k • Round Lot	364	51,483	—	100.0%	3.6 bps	—	—	53rd	—	43.9%
Non-Marketable Limit	$20k–$50k • Odd Lot	85	3,115	—	—	—	—	—	—	—	—
Non-Marketable Limit	$20k–$50k • Round Lot	671	152,565	—	100.0%	4.1 bps	—	—	70th	—	44.4%
Non-Marketable Limit	$50k–$200k • Odd Lot	2	137	—	—	—	—	—	—	—	—
Non-Marketable Limit	$50k–$200k • Round Lot	549	375,508	—	100.0%	3.2 bps	—	—	45th	—	47.8%
Non-Marketable Limit	≥$200k • Round Lot	149	335,499	—	100.0%	2.8 bps	—	—	40th	—	50.2%

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
PICE202608.zip	202608	detailed	stored	2026-10-15T19:56:22.783762172+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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