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 Wed Jan 25 2023 15:27:24 EST-0500 (Eastern Daylight Time)

4th Quarter, 2022

October 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 99.27 0.00 0.33 0.40

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) 33.27 33.37 0.00 37.50 5.26 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.20 14.22 0.00 0.00 21.05 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.66 13.44 0.00 6.25 73.68 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.55 13.63 0.00 6.25 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 12.72 12.79 0.00 6.25 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 12.28 12.24 0.00 37.50 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
INTL FCStone Securities Inc (INTL) 0.31 0.29 0.00 6.25 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
INTL FCStone Securities Inc (INTL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

October 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 98.91 0.16 0.66 0.27

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) 35.77 35.81 46.15 34.55 17.39 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 17.64 17.76 7.69 7.27 4.35 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.08 15.04 0.00 23.64 17.39 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.44 14.32 23.08 12.73 56.52 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 8.87 8.81 23.08 16.36 4.35 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 8.20 8.26 0.00 5.45 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

October 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 90.48 1.98 7.54 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) 42.46 43.86 20.00 31.58 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 31.35 31.58 0.00 36.84 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 24.60 24.56 20.00 26.32 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Option ATS (LPOX) 1.59 0.00 60.00 5.26 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

November 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 97.78 0.03 1.21 0.98

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) 33.67 33.61 0.00 46.81 23.68 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.50 14.43 0.00 17.02 18.42 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.93 14.14 100.00 4.26 2.63 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 12.67 12.66 0.00 14.89 10.53 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 12.36 12.22 0.00 2.13 39.47 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 12.31 12.35 0.00 14.89 5.26 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.57 0.58 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
G1 Execution Services, LLC (ETMM):
CFS Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
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
StoneX Financial Inc (INTL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

November 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 97.42 0.30 1.57 0.72

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) 35.94 35.97 54.55 36.21 22.64 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 17.33 17.48 0.00 15.52 7.55 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.73 15.66 13.64 17.24 22.64 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.26 14.12 13.64 14.66 32.08 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 9.01 8.98 13.64 8.62 13.21 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 7.73 7.78 4.55 7.76 1.89 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

November 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 96.30 1.23 2.47 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) 50.62 49.36 100.00 75.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 28.40 28.85 0.00 25.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 20.99 21.79 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

December 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 98.11 0.20 1.17 0.52

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) 33.46 33.50 60.00 33.90 15.38 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.13 14.18 0.00 13.56 11.54 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.53 13.35 10.00 11.86 53.85 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.47 13.49 10.00 10.17 19.23 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 12.93 13.04 0.00 11.86 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.86 11.85 10.00 18.64 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.62 0.61 10.00 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).]

December 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 96.84 0.23 0.98 1.95

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) 36.17 36.03 29.63 35.40 44.25 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 17.38 17.83 0.00 7.08 2.65 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.05 15.00 22.22 10.62 19.03 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.92 13.75 14.81 20.35 19.03 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 8.81 8.71 3.70 7.96 14.60 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 8.65 8.67 29.63 18.58 0.44 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Pershing Preferred Mkt Maker (PPFD) 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 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
Pershing Preferred Mkt Maker (PPFD):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

December 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 95.56 0.00 4.44 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) 42.96 44.19 0.00 16.67 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 30.37 28.68 0.00 66.67 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 26.67 27.13 0.00 16.67 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
Susquehanna International Group, LLP (SUSQ):
CFS Material Aspects Disclosure Q2 2021.pdf
Wolverine Execution Svc. (WEXX):
CFS Material Aspects Disclosure Q2 2021.pdf
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