TKG - The Karn Group SEC Rule 606 Order Routing Disclosure
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Cetera Financial Specialists LLC - Held NMS Stocks and Options Order Routing Public Report

Generated on Thu Apr 14 2022 16:44:25 EDT-0400 (Eastern Daylight Time)

1st Quarter, 2022

January 2022


S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 96.49 0.17 1.59 1.75

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities (CDRG) 34.69 34.61 37.50 42.11 32.14 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.96 13.91 12.50 10.53 20.24 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.71 13.91 12.50 14.47 2.38 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 13.53 13.37 25.00 13.16 21.43 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 12.25 12.26 0.00 17.11 8.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.86 11.94 12.50 2.63 15.48 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CFS Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CFS Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CFS Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CFS Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CFS Material Aspects Disclosure Q2 2021.pdf

January 2022


Non-S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 95.28 0.85 3.30 0.57

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities (CDRG) 36.94 36.82 40.22 39.00 40.32 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 16.96 17.57 1.09 6.13 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.98 15.80 18.48 18.66 27.42 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.60 13.56 14.13 15.04 9.68 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 9.84 9.64 20.65 10.86 20.97 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 6.65 6.56 5.43 10.31 1.61 0 0.0000 0 0.0000 0 0.0000 0 0.0000
BNY Mellon Capital Markets LLC (BKCM) 0.05 0.05 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CFS Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CFS Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CFS Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CFS Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CFS Material Aspects Disclosure Q2 2021.pdf
BNY Mellon Capital Markets LLC (BKCM):
CFS Material Aspects Disclosure Q2 2021.pdf

January 2022


Option Contracts

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 88.73 0.00 11.27 0.00

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities LLC (CITL) 49.30 49.21 0.00 50.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 47.89 47.62 0.00 50.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 1.41 1.59 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Option ATS (LPOX) 1.41 1.59 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
CFS Material Aspects Disclosure Q2 2021.pdf
Susquehanna International Group, LLP (SUSQ):
CFS Material Aspects Disclosure Q2 2021.pdf
Wolverine Execution Svc. (WEXX):
CFS Material Aspects Disclosure Q2 2021.pdf
DASH Financial Option ATS (LPOX):
CFS Material Aspects Disclosure Q2 2021.pdf

February 2022


S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 97.12 0.19 1.38 1.31

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities (CDRG) 33.86 33.87 25.00 33.90 33.93 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.98 13.87 12.50 18.64 17.86 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 13.82 13.84 25.00 10.17 14.29 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.30 13.58 12.50 6.78 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 13.05 13.02 12.50 13.56 14.29 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.99 11.82 12.50 16.95 19.64 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CFS Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CFS Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CFS Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CFS Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CFS Material Aspects Disclosure Q2 2021.pdf

February 2022


Non-S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 89.68 0.30 8.53 1.49

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities (CDRG) 35.91 34.99 44.44 45.82 33.09 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 16.60 18.27 11.11 1.93 0.74 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.43 15.26 11.11 16.09 22.79 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.93 14.58 22.22 17.12 22.06 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 9.64 9.61 11.11 8.88 15.44 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 7.41 7.20 0.00 10.17 5.88 0 0.0000 0 0.0000 0 0.0000 0 0.0000
BNY Mellon Capital Markets LLC (BKCM) 0.09 0.10 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CFS Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CFS Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CFS Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CFS Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CFS Material Aspects Disclosure Q2 2021.pdf
BNY Mellon Capital Markets LLC (BKCM):
CFS Material Aspects Disclosure Q2 2021.pdf

February 2022


Option Contracts

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 84.67 0.00 15.33 0.00

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities LLC (CITL) 51.82 53.45 0.00 42.86 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 39.42 36.21 0.00 57.14 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 8.03 9.48 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Option ATS (LPOX) 0.73 0.86 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
CFS Material Aspects Disclosure Q2 2021.pdf
Susquehanna International Group, LLP (SUSQ):
CFS Material Aspects Disclosure Q2 2021.pdf
Wolverine Execution Svc. (WEXX):
CFS Material Aspects Disclosure Q2 2021.pdf
DASH Financial Option ATS (LPOX):
CFS Material Aspects Disclosure Q2 2021.pdf

March 2022


S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 98.56 0.04 1.22 0.19

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities (CDRG) 35.45 35.32 50.00 46.15 30.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.61 14.44 0.00 27.69 20.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.71 13.83 0.00 6.15 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.35 13.40 0.00 6.15 40.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 12.00 12.07 50.00 7.69 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 10.88 10.94 0.00 6.15 10.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CFS Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CFS Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CFS Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CFS Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CFS Material Aspects Disclosure Q2 2021.pdf

March 2022


Non-S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 96.46 0.23 3.06 0.25

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities (CDRG) 34.82 34.43 48.15 46.70 30.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 18.06 18.62 7.41 2.75 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.54 15.52 11.11 15.38 26.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.73 14.67 11.11 16.76 16.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 9.46 9.51 18.52 6.32 20.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 7.31 7.17 3.70 12.09 6.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
BNY Mellon Capital Markets LLC (BKCM) 0.08 0.09 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CFS Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CFS Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CFS Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CFS Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CFS Material Aspects Disclosure Q2 2021.pdf
BNY Mellon Capital Markets LLC (BKCM):
CFS Material Aspects Disclosure Q2 2021.pdf

March 2022


Option Contracts

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 85.05 7.48 7.48 0.00

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities LLC (CITL) 53.27 53.85 75.00 25.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 36.45 34.07 25.00 75.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 8.41 9.89 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Option ATS (LPOX) 1.87 2.20 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
CFS Material Aspects Disclosure Q2 2021.pdf
Susquehanna International Group, LLP (SUSQ):
CFS Material Aspects Disclosure Q2 2021.pdf
Wolverine Execution Svc. (WEXX):
CFS Material Aspects Disclosure Q2 2021.pdf
DASH Financial Option ATS (LPOX):
CFS Material Aspects Disclosure Q2 2021.pdf

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