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 Mon Apr 17 2023 15:12:38 EDT-0400 (Eastern Daylight Time)

1st Quarter, 2023

January 2023

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 99.05 0.02 0.63 0.31

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) 33.58 33.51 100.00 50.00 16.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.99 14.04 0.00 5.56 16.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 13.91 13.87 0.00 22.22 11.11 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.42 13.34 0.00 11.11 44.44 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 13.18 13.25 0.00 8.33 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.55 11.60 0.00 2.78 11.11 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.38 0.39 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
Jane Street Capital, LLC (JNST):
CFS Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CFS Material Aspects Disclosure Q2 2021.pdf
StoneX Financial Inc (INTL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

January 2023

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 95.01 1.93 2.74 0.32

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) 34.59 33.93 57.69 44.41 8.57 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 16.70 17.54 1.92 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.06 14.90 13.46 18.98 37.14 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.99 13.77 14.42 18.98 34.29 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 10.48 10.69 5.29 7.12 5.71 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 9.19 9.17 7.21 10.51 14.29 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
Jane Street Capital, LLC (JNST):
CFS Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CFS Material Aspects Disclosure Q2 2021.pdf

January 2023

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 80.00 10.59 9.41 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) 41.57 43.63 44.44 20.83 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 29.80 28.92 29.63 37.50 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 28.63 27.45 25.93 41.67 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
Wolverine Execution Svc. (WEXX):
CFS Material Aspects Disclosure Q2 2021.pdf
Susquehanna International Group, LLP (SUSQ):
CFS Material Aspects Disclosure Q2 2021.pdf

February 2023

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 98.25 0.35 0.95 0.45

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) 31.19 31.21 35.71 36.84 11.11 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.02 15.05 21.43 2.63 27.78 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.26 14.16 14.29 7.89 50.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 14.01 13.98 7.14 23.68 5.56 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 13.76 13.80 7.14 15.79 5.56 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.21 11.23 14.29 13.16 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.55 0.56 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
Virtu Americas, LLC (NITE):
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
Jane Street Capital, LLC (JNST):
CFS Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CFS Material Aspects Disclosure Q2 2021.pdf
StoneX Financial Inc (INTL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

February 2023

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 92.98 2.23 4.42 0.36

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) 33.28 32.58 42.63 46.01 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 16.31 16.23 14.21 16.49 48.39 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.71 15.55 19.47 15.69 35.48 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 14.89 15.77 1.58 3.19 12.90 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 12.26 12.27 9.47 14.36 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 7.52 7.57 12.63 4.26 3.23 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Pershing Preferred Mkt Maker (PPFD) 0.02 0.03 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
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
Pershing Preferred Mkt Maker (PPFD):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

February 2023

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 91.67 5.56 2.78 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) 44.44 42.42 100.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 41.67 45.45 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 13.89 12.12 0.00 100.00 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

March 2023

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 98.23 0.16 1.21 0.41

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) 33.96 34.12 50.00 29.87 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 15.10 14.99 20.00 12.99 46.15 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 13.30 13.19 10.00 25.97 3.85 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 12.98 13.12 0.00 6.49 3.85 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 12.62 12.56 10.00 7.79 42.31 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.54 11.51 10.00 16.88 3.85 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.50 0.51 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
Two Sigma Securities (SOHO):
CFS Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
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
UBS Securities LLC (UBSS):
CFS Material Aspects Disclosure Q2 2021.pdf
StoneX Financial Inc (INTL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

March 2023

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 98.62 0.22 0.65 0.51

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) 34.87 35.01 40.00 37.33 3.45 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 16.31 16.50 4.00 1.33 3.45 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.41 14.08 20.00 20.00 68.97 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 13.93 13.91 12.00 13.33 20.69 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 11.64 11.68 16.00 13.33 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 8.83 8.82 8.00 14.67 3.45 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
Two Sigma Securities (SOHO):
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

March 2023

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 92.16 0.00 7.84 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)
Susquehanna International Group, LLP (SUSQ) 37.25 36.17 0.00 50.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 31.37 31.91 0.00 25.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Securities LLC (CITL) 31.37 31.91 0.00 25.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

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