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 May 28 2020 17:44:23 EDT-0400 (Eastern Daylight Time)

1st Quarter, 2020

March 2020

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 94.35 0.47 3.89 1.29

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) 37.68 37.68 38.89 36.49 40.82 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 24.95 24.89 33.33 23.65 30.61 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.73 13.80 5.56 13.51 12.24 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 12.31 12.46 11.11 12.84 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.33 11.18 11.11 13.51 16.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Virtu Americas, LLC (NITE):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Two Sigma Securities (SOHO):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
G1 Execution Services, LLC (ETMM):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
UBS Securities LLC (UBSS):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf

March 2020

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 92.93 0.29 6.11 0.67

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) 34.89 35.80 15.00 20.98 44.68 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 22.33 21.60 35.00 35.20 2.13 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.28 14.17 30.00 14.92 17.02 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.28 14.39 15.00 13.75 4.26 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.45 13.24 5.00 15.15 31.91 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
G1 Execution Services, LLC (ETMM):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Two Sigma Securities (SOHO):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Virtu Americas, LLC (NITE):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
UBS Securities LLC (UBSS):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf

March 2020

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 71.19 1.69 22.03 5.08

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) 47.46 47.62 100.00 46.15 33.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citi Order Routing & Exec LLC (CITI) 30.51 28.57 0.00 30.77 66.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 22.03 23.81 0.00 23.08 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Citi Order Routing & Exec LLC (CITI):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Susquehanna International Group, LLP (SUSQ):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf

February 2020

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 94.06 0.31 3.73 1.91

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) 34.37 34.37 28.57 40.48 23.26 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 26.25 26.03 28.57 19.05 51.16 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 14.06 14.05 14.29 19.05 4.65 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.84 13.67 14.29 16.67 16.28 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.49 11.88 14.29 4.76 4.65 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Virtu Americas, LLC (NITE):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
G1 Execution Services, LLC (ETMM):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Two Sigma Securities (SOHO):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
UBS Securities LLC (UBSS):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf

February 2020

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 90.07 0.39 8.70 0.83

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) 34.09 34.27 21.05 33.65 25.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 23.14 22.67 47.37 28.40 7.50 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.37 14.28 5.26 14.56 27.50 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.79 14.02 5.26 11.46 17.50 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.73 13.79 21.05 11.93 22.50 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
G1 Execution Services, LLC (ETMM):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Virtu Americas, LLC (NITE):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
UBS Securities LLC (UBSS):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Two Sigma Securities (SOHO):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf

February 2020

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 56.10 9.76 24.39 9.76

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) 41.46 56.52 50.00 20.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citi Order Routing & Exec LLC (CITI) 29.27 21.74 25.00 50.00 25.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 29.27 21.74 25.00 30.00 75.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Citi Order Routing & Exec LLC (CITI):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Susquehanna International Group, LLP (SUSQ):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf

January 2020

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 94.66 0.26 3.09 1.99

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) 36.12 36.21 14.29 30.49 43.40 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 23.63 23.53 14.29 23.17 30.19 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 15.01 15.14 28.57 17.07 3.77 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.77 13.67 28.57 14.63 15.09 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.47 11.45 14.29 14.63 7.55 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Virtu Americas, LLC (NITE):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
G1 Execution Services, LLC (ETMM):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Two Sigma Securities (SOHO):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
UBS Securities LLC (UBSS):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf

January 2020

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 95.18 0.21 2.97 1.63

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) 35.60 35.48 10.00 36.23 44.74 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 21.84 22.00 60.00 23.91 3.95 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.34 14.11 10.00 13.77 28.95 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 14.08 14.18 10.00 11.59 13.16 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.69 13.75 10.00 14.49 9.21 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
G1 Execution Services, LLC (ETMM):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Virtu Americas, LLC (NITE):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
UBS Securities LLC (UBSS):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Two Sigma Securities (SOHO):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf

January 2020

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 22.22 3.70 70.37 3.70

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)
Citi Order Routing & Exec LLC (CITI) 40.74 16.67 0.00 52.63 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 37.04 33.33 100.00 36.84 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Securities LLC (CITL) 22.22 50.00 0.00 10.53 100.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citi Order Routing & Exec LLC (CITI):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Susquehanna International Group, LLP (SUSQ):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Citadel Securities LLC (CITL):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
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