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Rule 605 Market Center Scorecard
XTX Execution Services LLC
MPID Firm: XTX EXECUTION SERVICES LLC(XTXE)
Status: ACTIVE
Generated: Wed, 14 Oct 2026 18:32:48 GMT
Quarter:2026Q3
Covered Orders23,608,639Across all reported tiers
Covered Shares63,786,795,739In 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 | 131 | 599 | 100.0% | 98.3% | 10.0 bps | — | 0% | 74th | $0.0293 | 100.0% |
| market | <$250 • ROUND | 10 | 1,944 | — | — | — | — | — | — | — | — |
| market | $250–$999 • ODD | 190 | 3,208 | 99.1% | 98.2% | 11.1 bps | — | 0% | 94th | $0.0319 | 100.0% |
| market | $250–$999 • ROUND | 35 | 14,821 | — | — | — | — | — | — | — | — |
| market | $1k–$5k • ODD | 568 | 17,458 | 99.3% | 98.3% | 6.5 bps | — | 0% | 89th | $0.1073 | 100.0% |
| market | $1k–$5k • ROUND | 381 | 236,357 | 95.6% | 98.7% | 19.1 bps | — | 0% | 99th | $0.0090 | 100.0% |
| market | $5k–$10k • ODD | 256 | 11,941 | 99.9% | 98.6% | 4.8 bps | — | 0% | 86th | $0.2431 | 100.0% |
| market | $5k–$10k • ROUND | 371 | 244,279 | 100.0% | 97.7% | 8.4 bps | — | 0% | 88th | $0.0136 | 100.0% |
| market | $10k–$20k • ODD | 128 | 7,081 | 99.4% | 96.3% | 3.5 bps | — | 0% | 47th | $0.3896 | 100.0% |
| market | $10k–$20k • ROUND | 458 | 340,342 | 99.7% | 87.6% | 2.4 bps | — | 0% | 36th | $0.0322 | 100.0% |
| market | $20k–$50k • ODD | 15 | 1,155 | — | — | — | — | — | — | — | — |
| market | $20k–$50k • ROUND | 622 | 599,809 | 99.8% | 82.2% | 3.9 bps | — | 0% | 77th | $0.0398 | 100.0% |
| market | $50k–$200k • ROUND | 465 | 915,357 | 96.2% | 77.7% | 2.2 bps | — | 0% | 60th | $0.0609 | 100.0% |
| market | ≥$200k • ROUND | 45 | 176,804 | — | — | — | — | — | — | — | — |
| marketable_limit | <$250 • ODD | 1,333,845 | 14,062,090 | 45.6% | 91.6% | 36.2 bps | -2.9 bps | 89% | 99th | $0.0121 | 100.0% |
| marketable_limit | <$250 • ROUND | 100,212 | 16,228,070 | 50.8% | 86.6% | 25.5 bps | -29.6 bps | 79% | 85th | $0.0021 | 100.0% |
| marketable_limit | $250–$999 • ODD | 868,276 | 25,307,355 | 45.9% | 92.2% | 30.0 bps | -1.3 bps | 88% | 100th | $0.0223 | 100.0% |
| marketable_limit | $250–$999 • ROUND | 386,046 | 96,837,763 | 33.4% | 86.0% | 15.7 bps | -11.9 bps | 77% | 81st | $0.0039 | 100.0% |
| marketable_limit | $1k–$5k • ODD | 920,388 | 41,211,765 | 34.8% | 91.6% | 25.8 bps | -0.9 bps | 88% | 99th | $0.0566 | 100.0% |
| marketable_limit | $1k–$5k • ROUND | 1,834,458 | 1,208,214,914 | 8.4% | 80.9% | 8.9 bps | -5.0 bps | 85% | 77th | $0.0071 | 100.0% |
| marketable_limit | $5k–$10k • ODD | 225,692 | 13,601,700 | 21.2% | 90.6% | 19.6 bps | -2.8 bps | 70% | 99th | $0.1097 | 100.0% |
| marketable_limit | $5k–$10k • ROUND | 1,795,354 | 2,877,346,926 | 1.9% | 76.4% | 7.5 bps | -3.7 bps | 76% | 85th | $0.0117 | 100.0% |
| marketable_limit | $10k–$20k • ODD | 83,004 | 5,530,396 | 16.2% | 87.4% | 14.3 bps | -1.5 bps | 69% | 100th | $0.1553 | 100.0% |
| marketable_limit | $10k–$20k • ROUND | 2,518,741 | 6,158,340,596 | 0.8% | 73.4% | 5.8 bps | -3.6 bps | 78% | 86th | $0.0162 | 100.0% |
| marketable_limit | $20k–$50k • ODD | 10,067 | 822,409 | 11.5% | 86.9% | 10.5 bps | 0.2 bps | 41% | 100th | $0.2124 | 100.0% |
| marketable_limit | $20k–$50k • ROUND | 3,463,627 | 13,006,378,638 | 0.4% | 73.4% | 4.8 bps | -2.9 bps | 80% | 92nd | $0.0224 | 100.0% |
| marketable_limit | $50k–$200k • ROUND | 3,708,190 | 27,288,175,224 | 0.2% | 76.8% | 4.5 bps | -3.1 bps | 80% | 99th | $0.0237 | 100.0% |
| marketable_limit | ≥$200k • ROUND | 541,012 | 10,959,875,924 | 0.1% | 70.6% | 3.3 bps | -5.8 bps | 54% | 96th | $0.0396 | 100.0% |
| nonmarketable_limit | <$250 • ODD | 1,214,696 | 4,199,377 | 13.4% | 100.0% | 25.0 bps | 76.1 bps | 69% | 57th | $0.0037 | 100.0% |
| nonmarketable_limit | <$250 • ROUND | 9,290 | 1,546,535 | 59.6% | 100.0% | 68.9 bps | 101.3 bps | 18% | 67th | $0.0002 | 100.0% |
| nonmarketable_limit | $250–$999 • ODD | 546,672 | 7,390,058 | 14.0% | 100.0% | 24.2 bps | 58.6 bps | 62% | 77th | $0.0064 | 100.0% |
| nonmarketable_limit | $250–$999 • ROUND | 30,500 | 6,278,224 | 37.1% | 100.0% | 50.3 bps | 116.8 bps | 8% | 51st | $0.0007 | 100.0% |
| nonmarketable_limit | $1k–$5k • ODD | 367,493 | 11,314,330 | 13.4% | 100.0% | 20.6 bps | 48.0 bps | 66% | 82nd | $0.0107 | 100.0% |
| nonmarketable_limit | $1k–$5k • ROUND | 144,529 | 29,963,745 | 26.6% | 100.0% | 16.5 bps | 69.9 bps | 28% | 34th | $0.0019 | 100.0% |
| nonmarketable_limit | $5k–$10k • ODD | 78,923 | 3,891,658 | 11.5% | 100.0% | 13.8 bps | 41.3 bps | 58% | 75th | $0.0120 | 100.0% |
| nonmarketable_limit | $5k–$10k • ROUND | 79,013 | 18,213,491 | 24.7% | 100.0% | 11.2 bps | 51.9 bps | 25% | 34th | $0.0028 | 100.0% |
| nonmarketable_limit | $10k–$20k • ODD | 39,358 | 2,296,631 | 10.4% | 100.0% | 10.7 bps | 37.1 bps | 69% | 60th | $0.0104 | 100.0% |
| nonmarketable_limit | $10k–$20k • ROUND | 76,992 | 20,588,338 | 20.8% | 100.0% | 8.9 bps | 49.2 bps | 29% | 36th | $0.0042 | 100.0% |
| nonmarketable_limit | $20k–$50k • ODD | 4,588 | 333,810 | 8.0% | 100.0% | 12.1 bps | 19.9 bps | 49% | 53rd | $0.0286 | 100.0% |
| nonmarketable_limit | $20k–$50k • ROUND | 52,377 | 22,536,370 | 16.5% | 100.0% | 8.0 bps | 41.8 bps | 33% | 33rd | $0.0089 | 100.0% |
| nonmarketable_limit | $50k–$200k • ROUND | 14,589 | 26,333,263 | 7.8% | 100.0% | 6.0 bps | 26.9 bps | 45% | 31st | $0.0110 | 100.0% |
| nonmarketable_limit | ≥$200k • ROUND | 2,164 | 18,759,805 | 0.9% | 100.0% | 4.9 bps | 24.4 bps | 33% | 28th | $-0.0016 | 100.0% |
| market | <$250 • ODD | 176 | 400 | 99.8% | 95.2% | 1.9 bps | — | 0% | 25th | $0.0420 | 100.0% |
| market | $250–$999 • ODD | 536 | 2,393 | 97.6% | 91.1% | 1.7 bps | — | 0% | 21st | $0.1150 | 100.0% |
| market | $1k–$5k • ODD | 1,321 | 20,423 | 98.8% | 93.5% | 1.5 bps | — | 0% | 16th | $0.1356 | 100.0% |
| market | $1k–$5k • ROUND | 42 | 4,876 | — | — | — | — | — | — | — | — |
| market | $5k–$10k • ODD | 933 | 28,407 | 98.8% | 96.8% | 2.3 bps | — | 0% | 36th | $0.1330 | 100.0% |
| market | $5k–$10k • ROUND | 129 | 22,294 | 100.0% | 92.3% | 1.4 bps | — | 0% | 30th | $0.0161 | 100.0% |
| market | $10k–$20k • ODD | 602 | 24,689 | 99.2% | 97.3% | 2.2 bps | — | 0% | 31st | $0.1997 | 100.0% |
| market | $10k–$20k • ROUND | 419 | 65,298 | 99.9% | 96.4% | 1.5 bps | — | 0% | 26th | $0.0479 | 100.0% |
| market | $20k–$50k • ODD | 128 | 5,833 | 99.6% | 93.3% | 2.4 bps | — | 0% | 27th | $0.6049 | 100.0% |
| market | $20k–$50k • ROUND | 885 | 184,574 | 98.8% | 96.4% | 1.6 bps | — | 0% | 31st | $0.1065 | 100.0% |
| market | $50k–$200k • ROUND | 961 | 576,593 | 97.1% | 91.3% | 1.1 bps | — | 0% | 21st | $0.1237 | 100.0% |
| market | ≥$200k • ROUND | 244 | 612,288 | 47.0% | 60.5% | 1.0 bps | — | 0% | 57th | $0.1531 | 100.0% |
| marketable_limit | <$250 • ODD | 129,541 | 296,687 | 44.2% | 82.7% | 3.3 bps | -1.6 bps | 97% | 96th | $0.0108 | 100.0% |
| marketable_limit | $250–$999 • ODD | 200,107 | 1,451,417 | 54.8% | 86.1% | 4.6 bps | -1.5 bps | 99% | 100th | $0.0197 | 100.0% |
| marketable_limit | $250–$999 • ROUND | 149 | 15,178 | 62.9% | 73.8% | 3.3 bps | -1.7 bps | 100% | 88th | $0.0041 | 100.0% |
| marketable_limit | $1k–$5k • ODD | 292,216 | 6,325,841 | 68.6% | 89.1% | 6.9 bps | -2.2 bps | 99% | 100th | $0.0332 | 100.0% |
| marketable_limit | $1k–$5k • ROUND | 56,654 | 6,714,384 | 65.0% | 77.9% | 1.5 bps | -3.0 bps | 100% | 69th | $0.0050 | 100.0% |
| marketable_limit | $5k–$10k • ODD | 129,956 | 5,054,620 | 61.2% | 89.9% | 6.9 bps | -3.1 bps | 92% | 100th | $0.0570 | 100.0% |
| marketable_limit | $5k–$10k • ROUND | 79,466 | 13,259,774 | 54.3% | 80.4% | 1.9 bps | -2.7 bps | 97% | 88th | $0.0077 | 100.0% |
| marketable_limit | $10k–$20k • ODD | 74,873 | 3,651,675 | 54.6% | 88.6% | 4.8 bps | -2.9 bps | 87% | 100th | $0.0815 | 100.0% |
| marketable_limit | $10k–$20k • ROUND | 136,889 | 29,325,835 | 37.5% | 79.0% | 2.3 bps | -2.9 bps | 96% | 81st | $0.0237 | 100.0% |
| marketable_limit | $20k–$50k • ODD | 18,336 | 979,131 | 47.4% | 89.3% | 3.3 bps | -0.5 bps | 83% | 90th | $0.1548 | 100.0% |
| marketable_limit | $20k–$50k • ROUND | 291,925 | 118,391,068 | 13.9% | 75.7% | 1.8 bps | -2.8 bps | 97% | 75th | $0.0375 | 100.0% |
| marketable_limit | $50k–$200k • ODD | 244 | 7,700 | 82.0% | 97.0% | 3.1 bps | 1.2 bps | 84% | 77th | $0.4973 | 100.0% |
| marketable_limit | $50k–$200k • ROUND | 576,205 | 898,916,636 | 2.1% | 78.0% | 1.7 bps | -2.2 bps | 97% | 74th | $0.0537 | 100.0% |
| marketable_limit | ≥$200k • ROUND | 190,652 | 764,423,018 | 1.0% | 71.5% | 1.5 bps | -2.5 bps | 79% | 94th | $0.0609 | 100.0% |
| nonmarketable_limit | <$250 • ODD | 167,348 | 217,383 | 12.1% | 100.0% | 4.1 bps | 30.4 bps | 95% | 39th | $0.0005 | 100.0% |
| nonmarketable_limit | $250–$999 • ODD | 219,009 | 720,554 | 13.8% | 100.0% | 4.7 bps | 28.0 bps | 92% | 67th | $0.0011 | 100.0% |
| nonmarketable_limit | $250–$999 • ROUND | 12 | 1,203 | — | — | — | — | — | — | — | — |
| nonmarketable_limit | $1k–$5k • ODD | 203,001 | 2,983,774 | 17.9% | 100.0% | 5.1 bps | 27.9 bps | 95% | 70th | $0.0014 | 100.0% |
| nonmarketable_limit | $1k–$5k • ROUND | 12,451 | 1,026,370 | 12.5% | 100.0% | 3.5 bps | 14.8 bps | 87% | 49th | $-0.0000 | 100.0% |
| nonmarketable_limit | $5k–$10k • ODD | 74,187 | 2,716,871 | 17.1% | 100.0% | 5.0 bps | 30.0 bps | 86% | 70th | $0.0042 | 100.0% |
| nonmarketable_limit | $5k–$10k • ROUND | 32,309 | 3,514,965 | 21.2% | 100.0% | 3.2 bps | 28.5 bps | 86% | 63rd | $0.0005 | 100.0% |
| nonmarketable_limit | $10k–$20k • ODD | 60,660 | 2,820,977 | 15.0% | 100.0% | 4.7 bps | 24.4 bps | 88% | 67th | $0.0068 | 100.0% |
| nonmarketable_limit | $10k–$20k • ROUND | 74,079 | 8,080,294 | 24.4% | 100.0% | 4.0 bps | 36.7 bps | 83% | 59th | $0.0017 | 100.0% |
| nonmarketable_limit | $20k–$50k • ODD | 12,559 | 667,604 | 13.9% | 100.0% | 5.3 bps | 10.2 bps | 76% | 78th | $0.0238 | 100.0% |
| nonmarketable_limit | $20k–$50k • ROUND | 85,683 | 12,836,510 | 22.4% | 100.0% | 3.7 bps | 42.1 bps | 79% | 56th | $0.0070 | 100.0% |
| nonmarketable_limit | $50k–$200k • ODD | 188 | 6,205 | 23.0% | 100.0% | 4.8 bps | 2.9 bps | 79% | 55th | $0.1781 | 100.0% |
| nonmarketable_limit | $50k–$200k • ROUND | 27,701 | 9,252,869 | 23.1% | 100.0% | 3.7 bps | 26.7 bps | 70% | 62nd | $0.0202 | 100.0% |
| nonmarketable_limit | ≥$200k • ROUND | 2,092 | 3,438,568 | 10.2% | 100.0% | 3.0 bps | 30.1 bps | 10% | 50th | $0.0266 | 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 |
|---|---|---|---|---|---|
| XTXE202608.zip | 202608 | detailed | stored | 2026-09-29T17:30:25.253545+00:00 | File Link ↗ |
| XTXE202608.csv | 202608 | summary | stored | 2026-09-29T17:30:25.253545+00:00 | File Link ↗ |
4. Coverage Gaps & Review Limitations
Suppressed Cells
6
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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