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 Fri Jan 29 2021 14:17:12 EST-0500 (Eastern Daylight Time)

4th Quarter, 2020

October 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 93.38 0.42 2.05 4.15

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) 34.97 35.33 36.36 25.93 31.19 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 25.65 25.55 36.36 25.93 26.61 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.96 13.81 0.00 7.41 22.02 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.43 13.73 18.18 22.22 1.83 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.99 11.57 9.09 18.52 18.35 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

October 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 92.09 0.38 5.94 1.60

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) 36.14 36.24 22.73 34.68 38.71 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 20.45 20.60 18.18 23.41 1.08 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.52 15.25 27.27 15.61 27.96 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.94 14.21 9.09 10.69 11.83 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.92 13.67 22.73 15.61 20.43 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Raymond James & Associates, Inc. (RAJA) 0.02 0.02 0.00 0.00 0.00 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
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
Raymond James & Associates, Inc. (RAJA):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]
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).]

October 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 40.00 0.00 60.00 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) 80.00 50.00 0.00 100.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Securities LLC (CITL) 20.00 50.00 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

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

November 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 93.73 0.44 3.87 1.96

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) 34.04 34.90 30.00 25.29 11.36 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 25.64 24.70 40.00 34.48 50.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.49 14.84 0.00 9.20 11.36 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.56 13.89 10.00 11.49 2.27 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 12.27 11.66 20.00 19.54 25.00 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
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

November 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 93.27 0.52 4.70 1.52

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) 34.96 35.90 39.29 23.11 12.35 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 19.85 19.90 21.43 20.72 13.58 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 15.54 14.58 14.29 31.08 27.16 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.15 14.80 14.29 17.13 30.86 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.50 14.82 10.71 7.97 16.05 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
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
Two Sigma Securities (SOHO):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf

November 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
100.00 100.00 0.00 0.00 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) 65.45 65.45 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 34.55 34.55 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

December 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 94.40 0.53 2.94 2.14

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) 35.05 35.35 13.33 41.67 18.03 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 23.25 23.03 40.00 20.24 32.79 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 15.16 15.21 6.67 13.10 18.03 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.41 13.06 20.00 13.10 27.87 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.13 13.35 20.00 11.90 3.28 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
UBS Securities LLC (UBSS):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf
G1 Execution Services, LLC (ETMM):
CFS Rule 606 Material Aspects Disclosure 2020 Q1.pdf

December 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 92.51 0.24 6.11 1.14

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 37.35 18.75 6.95 26.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 20.47 19.98 25.00 31.02 2.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 15.56 14.92 18.75 24.81 17.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.61 13.97 12.50 18.86 44.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.03 13.78 25.00 18.36 9.33 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
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
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

December 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 94.12 1.96 3.92 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) 58.82 62.50 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 41.18 37.50 100.00 100.00 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
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