LPL FINANCIAL LLC

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

Status: ACTIVE

Generated: Thu, 15 Oct 2026 22:40:19 GMT

Quarter:2026Q3

Covered Orders2,210,257Across all reported tiers

Covered Shares508,649,590In Q3 2026

Active Tiers80Order 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 Lot	156,984	498,091	—	98.9%	3.6 bps	—	—	19th	—	100.0%
Market	<$250 • Round Lot	306	72,550	—	90.6%	40.1 bps	—	—	79th	—	99.0%
Market	$250–$999 • Odd Lot	289,497	3,137,489	—	98.8%	3.1 bps	—	—	19th	—	100.0%
Market	$250–$999 • Round Lot	2,796	744,142	—	95.0%	16.7 bps	—	—	57th	—	99.6%
Market	$1k–$5k • Odd Lot	431,334	14,439,033	—	98.5%	2.6 bps	—	—	20th	—	100.0%
Market	$1k–$5k • Round Lot	59,352	12,869,325	—	95.8%	4.9 bps	—	—	28th	—	100.0%
Market	$5k–$10k • Odd Lot	95,225	5,080,615	—	98.0%	2.4 bps	—	—	21st	—	100.0%
Market	$5k–$10k • Round Lot	113,369	27,161,805	—	97.2%	3.2 bps	—	—	25th	—	99.9%
Market	$10k–$20k • Odd Lot	28,974	1,647,548	—	98.0%	2.4 bps	—	—	23rd	—	100.0%
Market	$10k–$20k • Round Lot	138,590	48,308,873	—	96.8%	2.7 bps	—	—	30th	—	99.9%
Market	$20k–$50k • Odd Lot	3,500	222,346	—	97.1%	1.5 bps	—	—	18th	—	100.0%
Market	$20k–$50k • Round Lot	131,671	85,765,838	—	95.6%	2.3 bps	—	—	33rd	—	99.7%
Market	$50k–$200k • Round Lot	65,798	108,937,654	—	92.1%	1.7 bps	—	—	39th	—	99.1%
Market	≥$200k • Round Lot	12,072	122,253,142	—	62.5%	0.4 bps	—	—	73rd	—	84.4%
Marketable Limit	<$250 • Odd Lot	160	1,278	—	100.0%	5.8 bps	—	—	62nd	—	96.1%
Marketable Limit	<$250 • Round Lot	1	147	—	—	—	—	—	—	—	—
Marketable Limit	$250–$999 • Odd Lot	323	5,388	—	99.7%	4.8 bps	—	—	69th	—	100.0%
Marketable Limit	$250–$999 • Round Lot	17	71,283	—	—	—	—	—	—	—	—
Marketable Limit	$1k–$5k • Odd Lot	528	21,109	—	98.0%	2.5 bps	—	—	52nd	—	99.3%
Marketable Limit	$1k–$5k • Round Lot	389	379,049	—	67.2%	7.5 bps	—	—	68th	—	97.1%
Marketable Limit	$5k–$10k • Odd Lot	166	9,008	—	95.9%	2.2 bps	—	—	56th	—	100.0%
Marketable Limit	$5k–$10k • Round Lot	546	362,573	—	90.7%	6.3 bps	—	—	75th	—	97.0%
Marketable Limit	$10k–$20k • Odd Lot	48	2,946	—	—	—	—	—	—	—	—
Marketable Limit	$10k–$20k • Round Lot	752	933,837	—	75.0%	5.5 bps	—	—	84th	—	89.9%
Marketable Limit	$20k–$50k • Odd Lot	1	97	—	—	—	—	—	—	—	—
Marketable Limit	$20k–$50k • Round Lot	949	2,256,841	—	74.2%	5.7 bps	—	—	94th	—	91.2%
Marketable Limit	$50k–$200k • Round Lot	810	5,282,745	—	54.6%	1.7 bps	—	—	73rd	—	80.2%
Marketable Limit	≥$200k • Round Lot	215	4,513,333	—	43.6%	-1.4 bps	—	—	18th	—	73.0%
Non-Marketable Limit	<$250 • Odd Lot	284	1,862	—	100.0%	8.1 bps	—	—	7th	—	39.3%
Non-Marketable Limit	<$250 • Round Lot	4	400	—	—	—	—	—	—	—	—
Non-Marketable Limit	$250–$999 • Odd Lot	1,067	16,804	—	100.0%	10.8 bps	—	—	29th	—	32.8%
Non-Marketable Limit	$250–$999 • Round Lot	74	135,381	—	—	—	—	—	—	—	—
Non-Marketable Limit	$1k–$5k • Odd Lot	1,915	70,628	—	100.0%	15.0 bps	—	—	69th	—	33.3%
Non-Marketable Limit	$1k–$5k • Round Lot	1,092	657,940	—	100.0%	33.2 bps	—	—	71st	—	24.7%
Non-Marketable Limit	$5k–$10k • Odd Lot	528	26,659	—	100.0%	5.9 bps	—	—	29th	—	35.7%
Non-Marketable Limit	$5k–$10k • Round Lot	1,424	706,557	—	100.0%	27.4 bps	—	—	84th	—	26.2%
Non-Marketable Limit	$10k–$20k • Odd Lot	158	8,571	—	100.0%	7.6 bps	—	—	34th	—	40.3%
Non-Marketable Limit	$10k–$20k • Round Lot	1,636	1,251,202	—	100.0%	22.7 bps	—	—	87th	—	20.5%
Non-Marketable Limit	$20k–$50k • Odd Lot	15	987	—	—	—	—	—	—	—	—
Non-Marketable Limit	$20k–$50k • Round Lot	1,756	3,003,937	—	100.0%	19.6 bps	—	—	87th	—	21.7%
Non-Marketable Limit	$50k–$200k • Round Lot	881	3,598,532	—	100.0%	23.8 bps	—	—	95th	—	19.5%
Non-Marketable Limit	≥$200k • Round Lot	130	2,134,584	—	100.0%	22.8 bps	—	—	94th	—	22.2%
Market	<$250 • Odd Lot	35,884	66,479	—	99.3%	2.8 bps	—	—	48th	—	100.0%
Market	$250–$999 • Odd Lot	129,876	576,967	—	99.3%	2.7 bps	—	—	43rd	—	100.0%
Market	$250–$999 • Round Lot	4	404	—	—	—	—	—	—	—	—
Market	$1k–$5k • Odd Lot	237,829	3,551,598	—	99.0%	2.5 bps	—	—	38th	—	100.0%
Market	$1k–$5k • Round Lot	5,960	718,160	—	99.1%	1.8 bps	—	—	40th	—	100.0%
Market	$5k–$10k • Odd Lot	86,222	2,626,502	—	98.8%	2.4 bps	—	—	34th	—	100.0%
Market	$5k–$10k • Round Lot	12,275	2,051,563	—	99.1%	1.5 bps	—	—	35th	—	100.0%
Market	$10k–$20k • Odd Lot	43,400	1,774,331	—	98.5%	2.5 bps	—	—	38th	—	100.0%
Market	$10k–$20k • Round Lot	28,761	4,682,308	—	98.7%	2.0 bps	—	—	32nd	—	100.0%
Market	$20k–$50k • Odd Lot	8,551	374,412	—	97.9%	2.8 bps	—	—	27th	—	100.0%
Market	$20k–$50k • Round Lot	44,104	9,236,930	—	98.3%	2.1 bps	—	—	45th	—	100.0%
Market	$50k–$200k • Odd Lot	43	1,677	—	—	—	—	—	—	—	—
Market	$50k–$200k • Round Lot	22,245	10,379,179	—	96.8%	2.1 bps	—	—	38th	—	99.9%
Market	≥$200k • Round Lot	4,984	14,393,457	—	67.0%	1.3 bps	—	—	63rd	—	94.3%
Marketable Limit	$250–$999 • Odd Lot	42	238	—	—	—	—	—	—	—	—
Marketable Limit	$1k–$5k • Odd Lot	156	3,019	—	99.6%	2.4 bps	—	—	79th	—	100.0%
Marketable Limit	$1k–$5k • Round Lot	9	1,150	—	—	—	—	—	—	—	—
Marketable Limit	$5k–$10k • Odd Lot	70	2,249	—	—	—	—	—	—	—	—
Marketable Limit	$5k–$10k • Round Lot	41	7,776	—	—	—	—	—	—	—	—
Marketable Limit	$10k–$20k • Odd Lot	57	2,416	—	—	—	—	—	—	—	—
Marketable Limit	$10k–$20k • Round Lot	83	20,935	—	—	—	—	—	—	—	—
Marketable Limit	$20k–$50k • Odd Lot	17	580	—	—	—	—	—	—	—	—
Marketable Limit	$20k–$50k • Round Lot	135	51,648	—	98.5%	2.4 bps	—	—	88th	—	99.7%
Marketable Limit	$50k–$200k • Round Lot	116	60,406	—	97.7%	1.9 bps	—	—	80th	—	100.0%
Marketable Limit	≥$200k • Round Lot	70	586,043	—	—	—	—	—	—	—	—
Non-Marketable Limit	<$250 • Odd Lot	26	46	—	—	—	—	—	—	—	—
Non-Marketable Limit	$250–$999 • Odd Lot	294	1,735	—	100.0%	5.3 bps	—	—	81st	—	43.9%
Non-Marketable Limit	$1k–$5k • Odd Lot	880	14,799	—	100.0%	5.0 bps	—	—	73rd	—	55.3%
Non-Marketable Limit	$1k–$5k • Round Lot	86	11,752	—	—	—	—	—	—	—	—
Non-Marketable Limit	$5k–$10k • Odd Lot	496	13,893	—	100.0%	6.3 bps	—	—	87th	—	57.4%
Non-Marketable Limit	$5k–$10k • Round Lot	155	24,211	—	100.0%	31.0 bps	—	—	96th	—	34.7%
Non-Marketable Limit	$10k–$20k • Odd Lot	294	11,129	—	100.0%	5.1 bps	—	—	79th	—	70.4%
Non-Marketable Limit	$10k–$20k • Round Lot	393	64,505	—	100.0%	10.3 bps	—	—	93rd	—	42.0%
Non-Marketable Limit	$20k–$50k • Odd Lot	95	3,254	—	—	—	—	—	—	—	—
Non-Marketable Limit	$20k–$50k • Round Lot	693	162,444	—	100.0%	15.5 bps	—	—	93rd	—	50.5%
Non-Marketable Limit	$50k–$200k • Odd Lot	1	30	—	—	—	—	—	—	—	—
Non-Marketable Limit	$50k–$200k • Round Lot	441	244,895	—	100.0%	8.4 bps	—	—	96th	—	46.3%
Non-Marketable Limit	≥$200k • Round Lot	132	334,341	—	100.0%	7.0 bps	—	—	91st	—	43.6%

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
sec-605-oes-2026-q3-datareport-ylpl.txt	202608	detailed	stored	2026-10-15T20:09:53.843549415+00:00	File Link ↗
sec-605-oes-2026-q3-datareport-ylpl.csv	—	summary	challenge	2026-10-15T18:07:20.992491356+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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