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Rule 605 Market Center Scorecard
LATOUR TRADING LLC
Status: ACTIVE
Generated: Wed, 14 Oct 2026 18:30:27 GMT
Quarter:2026Q3
Covered Orders877,296Across all reported tiers
Covered Shares390,998,292In Q3 2026
Active Tiers53Order 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| marketable_limit | <$250 • ODD | 23,906 | 355,712 | 21.4% | 47.2% | 0.5 bps | -5.0 bps | 2% | 16th | $0.0426 | 100.0% |
| marketable_limit | <$250 • ROUND | 30,560 | 3,359,246 | 3.3% | 23.4% | 0.6 bps | 7.9 bps | 50% | 13th | $0.0098 | 100.0% |
| marketable_limit | $250–$999 • ODD | 13,666 | 330,883 | 55.5% | 50.9% | 0.5 bps | -4.7 bps | 2% | 16th | $0.0526 | 100.0% |
| marketable_limit | $250–$999 • ROUND | 27,104 | 6,460,253 | 15.9% | 41.6% | 0.5 bps | -3.5 bps | 17% | 17th | $0.0120 | 100.0% |
| marketable_limit | $1k–$5k • ODD | 15,149 | 638,701 | 90.7% | 56.6% | 0.4 bps | -5.3 bps | 1% | 17th | $0.0955 | 100.0% |
| marketable_limit | $1k–$5k • ROUND | 52,258 | 31,163,868 | 13.3% | 51.7% | 0.4 bps | -6.8 bps | 30% | 18th | $0.0204 | 100.0% |
| marketable_limit | $5k–$10k • ODD | 3,326 | 155,726 | 80.9% | 52.4% | 0.4 bps | -5.4 bps | 1% | 23rd | $0.2219 | 100.0% |
| marketable_limit | $5k–$10k • ROUND | 25,332 | 24,644,880 | 12.2% | 61.3% | 0.5 bps | -3.0 bps | 17% | 27th | $0.0474 | 100.0% |
| marketable_limit | $10k–$20k • ODD | 774 | 41,087 | 94.4% | 58.9% | 0.5 bps | -4.5 bps | 8% | 27th | $0.3598 | 100.0% |
| marketable_limit | $10k–$20k • ROUND | 23,506 | 33,361,917 | 10.3% | 69.1% | 0.6 bps | -3.7 bps | 16% | 34th | $0.0833 | 100.0% |
| marketable_limit | $20k–$50k • ODD | 6 | 550 | — | — | — | — | — | — | — | — |
| marketable_limit | $20k–$50k • ROUND | 16,051 | 31,727,275 | 8.9% | 67.3% | 0.5 bps | -3.1 bps | 12% | 36th | $0.0922 | 100.0% |
| marketable_limit | $50k–$200k • ROUND | 7,546 | 26,756,258 | 8.1% | 42.6% | 0.1 bps | -2.1 bps | 23% | 18th | $0.0299 | 100.0% |
| marketable_limit | ≥$200k • ROUND | 4,008 | 49,998,040 | 7.5% | 19.6% | 0.0 bps | -1.6 bps | 15% | 57th | $0.0227 | 100.0% |
| nonmarketable_limit | <$250 • ODD | 1,307 | 15,788 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | <$250 • ROUND | 2,353 | 252,555 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ODD | 1,013 | 17,614 | 0.1% | 100.0% | 5.3 bps | — | 0% | 7th | $0.0004 | 100.0% |
| nonmarketable_limit | $250–$999 • ROUND | 18,876 | 2,813,350 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ODD | 919 | 27,101 | 0.8% | 100.0% | 5.2 bps | — | 0% | 9th | $0.0302 | 100.0% |
| nonmarketable_limit | $1k–$5k • ROUND | 143,337 | 21,336,671 | 0.0% | 100.0% | 13.4 bps | — | 0% | 28th | $0.0367 | 100.0% |
| nonmarketable_limit | $5k–$10k • ODD | 353 | 17,364 | 2.0% | 100.0% | 5.0 bps | — | 0% | 16th | $0.0507 | 100.0% |
| nonmarketable_limit | $5k–$10k • ROUND | 80,106 | 15,049,068 | 0.0% | 100.0% | 4.2 bps | 160.7 bps | 29% | 5th | $0.0458 | 100.0% |
| nonmarketable_limit | $10k–$20k • ODD | 155 | 7,322 | 0.9% | 100.0% | 1.1 bps | — | 0% | 0th | $0.2218 | 100.0% |
| nonmarketable_limit | $10k–$20k • ROUND | 71,777 | 16,481,233 | 0.0% | 100.0% | 4.3 bps | 47.2 bps | 34% | 8th | $0.1400 | 100.0% |
| nonmarketable_limit | $20k–$50k • ODD | 2 | 98 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $20k–$50k • ROUND | 73,114 | 23,719,078 | 0.0% | 100.0% | 1.6 bps | 38.1 bps | 19% | 1st | $0.1110 | 100.0% |
| nonmarketable_limit | $50k–$200k • ROUND | 40,968 | 31,797,313 | 0.0% | 100.0% | 1.2 bps | 20.0 bps | 38% | 4th | $0.0260 | 100.0% |
| nonmarketable_limit | ≥$200k • ROUND | 9,170 | 26,018,170 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • ODD | 6,349 | 9,941 | 95.7% | 58.2% | 0.2 bps | -3.4 bps | 1% | 19th | $0.0748 | 100.0% |
| marketable_limit | $250–$999 • ODD | 10,286 | 46,941 | 95.1% | 63.9% | 0.2 bps | -1.7 bps | 4% | 18th | $0.0788 | 100.0% |
| marketable_limit | $1k–$5k • ODD | 14,042 | 245,709 | 83.1% | 65.1% | 0.2 bps | -2.5 bps | 22% | 16th | $0.0910 | 100.0% |
| marketable_limit | $1k–$5k • ROUND | 5,037 | 512,752 | 91.1% | 44.0% | 0.1 bps | -2.8 bps | 77% | 21st | $0.0112 | 100.0% |
| marketable_limit | $5k–$10k • ODD | 7,457 | 210,465 | 76.6% | 66.2% | 0.2 bps | -2.7 bps | 18% | 19th | $0.1341 | 100.0% |
| marketable_limit | $5k–$10k • ROUND | 6,963 | 890,877 | 87.5% | 58.2% | 0.1 bps | -1.8 bps | 38% | 25th | $0.0253 | 100.0% |
| marketable_limit | $10k–$20k • ODD | 5,236 | 203,684 | 62.1% | 64.6% | 0.2 bps | -2.7 bps | 55% | 20th | $0.1733 | 100.0% |
| marketable_limit | $10k–$20k • ROUND | 18,045 | 1,721,592 | 83.9% | 75.2% | 0.2 bps | -2.3 bps | 41% | 26th | $0.0848 | 100.0% |
| marketable_limit | $20k–$50k • ODD | 286 | 8,297 | 94.2% | 74.9% | 0.3 bps | 1.8 bps | 85% | 23rd | $0.9600 | 100.0% |
| marketable_limit | $20k–$50k • ROUND | 25,549 | 2,853,940 | 62.6% | 72.4% | 0.2 bps | -2.6 bps | 46% | 25th | $0.1269 | 100.0% |
| marketable_limit | $50k–$200k • ODD | 2 | 16 | — | — | — | — | — | — | — | — |
| marketable_limit | $50k–$200k • ROUND | 11,352 | 3,514,317 | 46.5% | 68.8% | 0.1 bps | -2.0 bps | 71% | 22nd | $0.0955 | 100.0% |
| marketable_limit | ≥$200k • ROUND | 6,287 | 12,372,253 | 20.2% | 35.7% | 0.0 bps | -0.8 bps | 96% | 38th | $0.0354 | 100.0% |
| nonmarketable_limit | <$250 • ODD | 363 | 409 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $250–$999 • ODD | 753 | 1,865 | 0.1% | 100.0% | 0.3 bps | — | 0% | 1st | $0.0170 | 100.0% |
| nonmarketable_limit | $1k–$5k • ODD | 1,649 | 19,482 | 0.2% | 100.0% | 7.2 bps | — | 0% | 86th | $0.0937 | 100.0% |
| nonmarketable_limit | $1k–$5k • ROUND | 654 | 49,694 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $5k–$10k • ODD | 824 | 20,649 | 0.3% | 100.0% | 1.4 bps | — | 0% | 3rd | $0.1274 | 100.0% |
| nonmarketable_limit | $5k–$10k • ROUND | 5,318 | 549,799 | 0.0% | 100.0% | 1.5 bps | — | 0% | 2nd | $0.0000 | 100.0% |
| nonmarketable_limit | $10k–$20k • ODD | 635 | 20,279 | 1.3% | 100.0% | 2.7 bps | — | 0% | 15th | $0.1555 | 100.0% |
| nonmarketable_limit | $10k–$20k • ROUND | 20,061 | 2,108,684 | 0.0% | 100.0% | 2.5 bps | 33.6 bps | 42% | 15th | $0.0762 | 100.0% |
| nonmarketable_limit | $20k–$50k • ODD | 122 | 3,624 | 1.0% | 100.0% | 2.7 bps | — | 0% | 13th | $1.1022 | 100.0% |
| nonmarketable_limit | $20k–$50k • ROUND | 26,052 | 3,866,703 | 0.0% | 100.0% | 1.6 bps | 26.4 bps | 71% | 9th | $0.0264 | 100.0% |
| nonmarketable_limit | $50k–$200k • ROUND | 13,630 | 6,010,679 | 0.0% | 100.0% | 0.4 bps | 9.6 bps | 75% | 1st | $0.0383 | 100.0% |
| nonmarketable_limit | ≥$200k • ROUND | 3,702 | 9,208,520 | 0.0% | 100.0% | 0.1 bps | 11.1 bps | 17% | 0th | $0.0150 | 100.0% |
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 |
|---|---|---|---|---|---|
| TPMG202608.zip | 202608 | detailed | stored | 2026-09-30T21:23:46.642861082+00:00 | File Link ↗ |
| TPMG202608.csv | 202608 | summary | stored | 2026-09-30T21:23:46.642858608+00:00 | File Link ↗ |
| XGWD202608.csv | 202608 | summary | stored | 2026-09-30T21:23:46.642857636+00:00 | File Link ↗ |
| XGWD202608.zip | 202608 | detailed | stored | 2026-09-30T21:23:46.642859890+00:00 | File Link ↗ |
4. Coverage Gaps & Review Limitations
Suppressed Cells
3
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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