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 Oct 12 2020 15:31:47 EDT-0400 (Eastern Daylight Time)

3rd Quarter, 2020

July 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 93.66 0.58 2.77 2.98

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) 35.03 35.28 28.57 32.84 30.56 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 25.84 25.82 35.71 23.88 26.39 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 14.08 14.06 14.29 22.39 6.94 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 12.84 12.69 14.29 11.94 18.06 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 12.22 12.16 7.14 8.96 18.06 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

July 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 92.49 0.39 6.07 1.04

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) 36.71 36.71 29.17 36.56 40.62 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 21.06 21.16 29.17 22.04 3.12 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.74 14.77 8.33 13.44 21.88 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.02 14.07 16.67 13.71 10.94 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.47 13.29 16.67 14.25 23.44 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
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

July 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 69.49 1.69 22.03 6.78

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) 45.76 46.34 100.00 46.15 25.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citi Order Routing & Exec LLC (CITI) 35.59 39.02 0.00 15.38 75.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 18.64 14.63 0.00 38.46 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

August 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 95.32 0.84 2.45 1.39

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) 34.55 34.60 26.09 25.37 52.63 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 25.56 25.05 30.43 41.79 28.95 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 14.15 14.54 13.04 7.46 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.86 14.04 21.74 10.45 2.63 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.88 11.78 8.70 14.93 15.79 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

August 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 89.29 0.17 9.95 0.59

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) 36.59 36.23 20.00 41.13 19.44 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 21.34 21.26 30.00 22.89 5.56 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.08 14.47 0.00 11.44 2.78 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 14.01 14.20 0.00 11.94 25.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 13.96 13.83 50.00 12.60 47.22 0 0.0000 0 0.0000 0 0.0000 0 0.0000
BNY Mellon Capital Markets LLC (BKMM) 0.02 0.02 0.00 0.00 0.00 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
UBS Securities LLC (UBSS):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Virtu Americas, LLC (NITE):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
BNY Mellon Capital Markets LLC (BKMM):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

August 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 65.98 1.03 28.87 4.12

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) 56.70 59.38 100.00 50.00 50.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 39.18 39.06 0.00 42.86 25.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citi Order Routing & Exec LLC (CITI) 3.09 0.00 0.00 7.14 25.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Tech LLC (DASH) 1.03 1.56 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 Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Susquehanna International Group, LLP (SUSQ):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
Citi Order Routing & Exec LLC (CITI):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
DASH Financial Tech LLC (DASH):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

September 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 94.11 0.48 2.69 2.72

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) 35.32 35.20 61.54 36.11 34.25 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 22.72 22.67 7.69 19.44 30.14 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.55 14.63 7.69 12.50 15.07 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 14.29 14.39 23.08 20.83 2.74 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.13 13.12 0.00 11.11 17.81 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

September 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 88.80 0.25 9.05 1.90

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) 36.75 36.69 18.75 37.33 38.84 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 21.56 21.16 37.50 26.74 13.22 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.69 14.74 18.75 13.19 19.01 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.81 14.28 12.50 9.72 11.57 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.20 13.13 12.50 13.02 17.36 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
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

September 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 76.62 0.00 22.08 1.30

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) 53.25 61.02 0.00 23.53 100.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 46.75 38.98 0.00 76.47 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
Susquehanna International Group, LLP (SUSQ):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
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