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 Jul 09 2020 09:01:46 EDT-0400 (Eastern Daylight Time)

2nd Quarter, 2020

June 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 96.13 0.95 1.57 1.34

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) 35.21 35.26 35.29 25.00 43.75 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 26.86 26.60 26.47 37.50 33.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.45 13.43 8.82 21.43 8.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 12.63 12.85 11.76 10.71 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.85 11.86 17.65 5.36 14.58 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

June 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 95.04 0.46 3.33 1.17

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) 36.62 36.80 37.04 38.14 17.65 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 20.04 20.13 22.22 19.59 13.24 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.85 15.65 7.41 17.01 32.35 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.99 14.00 22.22 13.40 11.76 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.50 13.42 11.11 11.86 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
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

June 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 72.58 0.00 22.58 4.84

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) 53.23 51.11 0.00 57.14 66.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citi Order Routing & Exec LLC (CITI) 29.03 31.11 0.00 28.57 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 16.13 15.56 0.00 14.29 33.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
LiquidPoint Options (LQPO) 1.61 2.22 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
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
LiquidPoint Options (LQPO):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

April 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 96.37 0.25 2.27 1.11

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) 36.32 36.64 0.00 27.17 35.56 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 26.37 25.97 70.00 38.04 26.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.69 13.69 20.00 9.78 20.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 12.63 12.69 10.00 9.78 13.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 11.00 11.00 0.00 15.22 4.44 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
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

April 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 91.91 0.43 7.10 0.56

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) 38.27 37.84 15.38 45.43 35.29 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 19.49 19.96 19.23 14.29 8.82 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.05 14.64 23.08 19.67 17.65 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.79 13.92 26.92 10.77 20.59 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.39 13.63 15.38 9.84 17.65 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
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

April 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 70.53 1.05 28.42 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) 36.84 40.30 0.00 29.63 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citi Order Routing & Exec LLC (CITI) 35.79 38.81 0.00 29.63 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 27.37 20.90 100.00 40.74 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

May 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 96.64 0.48 1.51 1.37

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) 35.18 35.22 47.83 24.66 39.39 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 26.20 26.28 13.04 26.03 25.76 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.49 14.33 17.39 20.55 18.18 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 12.09 11.95 13.04 17.81 15.15 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 12.04 12.23 8.70 10.96 1.52 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

May 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 92.90 1.12 4.70 1.28

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) 36.04 35.70 50.00 41.83 27.55 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 19.45 20.29 1.16 11.91 2.04 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.69 15.19 16.28 21.88 28.57 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.84 14.88 15.12 11.08 25.51 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.95 13.90 17.44 13.30 16.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
BNY Mellon Capital Markets LLC (BKMM) 0.01 0.01 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Raymond James & Associates, Inc. (RAJA) 0.01 0.01 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
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).]
Raymond James & Associates, Inc. (RAJA):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

May 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 32.69 0.00 57.69 9.62

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) 38.46 47.06 0.00 30.00 60.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citi Order Routing & Exec LLC (CITI) 32.69 17.65 0.00 43.33 20.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Securities LLC (CITL) 28.85 35.29 0.00 26.67 20.00 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
Citi Order Routing & Exec LLC (CITI):
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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