TKG - The Karn Group SEC Rule 606 Order Routing Disclosure
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Cetera Advisor Networks LLC - Held NMS Stocks and Options Order Routing Public Report

Generated on Wed Jul 17 2024 10:19:28 EDT-0400 (Eastern Daylight Time)

2nd Quarter, 2024

May 2024


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 96.05 0.41 1.82 1.71

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) 33.78 33.84 34.40 33.09 31.08 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 14.94 15.01 15.60 16.08 9.73 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 14.63 14.64 16.97 14.61 13.38 0 0.0000 0 0.0000 0 0.0000 0 0.0000
HRT FINANCIAL LP (HRTF) 14.48 14.79 13.76 12.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.21 13.89 14.22 15.76 30.42 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 5.02 4.95 3.21 5.43 8.63 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 2.93 2.86 1.83 3.03 6.75 0 0.0000 0 0.0000 0 0.0000 0 0.0000
GTS Securities LLC (GTSM) 0.01 0.01 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.01 0.01 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Maxim Group LLC (MAXM) 0.00 0.00 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Jane Street Capital, LLC (JNST):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
G1 Execution Services, LLC (ETMM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
HRT FINANCIAL LP (HRTF):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Virtu Americas, LLC (NITE):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
UBS Securities LLC (UBSS):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Two Sigma Securities (SOHO):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
GTS Securities LLC (GTSM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
StoneX Financial Inc (INTL):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Maxim Group LLC (MAXM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.

May 2024


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 96.76 0.54 1.19 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) 30.32 30.71 24.08 25.92 11.13 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 16.49 16.63 14.76 16.58 8.65 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 14.94 15.12 15.73 14.92 3.09 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 13.76 13.28 15.53 14.40 42.93 0 0.0000 0 0.0000 0 0.0000 0 0.0000
HRT FINANCIAL LP (HRTF) 8.00 8.16 5.83 6.20 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 7.93 7.55 10.10 10.73 29.40 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 7.51 7.48 12.82 11.08 4.81 0 0.0000 0 0.0000 0 0.0000 0 0.0000
GTS Securities LLC (GTSM) 0.47 0.48 0.97 0.09 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Maxim Group LLC (MAXM) 0.32 0.33 0.19 0.09 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.27 0.28 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
G1 Execution Services, LLC (ETMM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Jane Street Capital, LLC (JNST):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Virtu Americas, LLC (NITE):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
HRT FINANCIAL LP (HRTF):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Two Sigma Securities (SOHO):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
UBS Securities LLC (UBSS):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
GTS Securities LLC (GTSM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Maxim Group LLC (MAXM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
StoneX Financial Inc (INTL):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.

May 2024


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 56.81 1.61 21.05 20.53

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) 41.25 40.19 37.74 43.60 42.04 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 23.77 23.56 22.64 27.19 20.94 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 18.38 18.39 28.30 17.70 18.29 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Option ATS (LPOX) 16.60 17.86 11.32 11.51 18.73 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Susquehanna International Group, LLP (SUSQ):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Wolverine Execution Svc. (WEXX):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
DASH Financial Option ATS (LPOX):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.

June 2024


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 96.40 0.41 1.84 1.35

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) 31.78 31.67 33.33 31.81 39.07 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 14.64 14.69 20.11 14.91 8.93 0 0.0000 0 0.0000 0 0.0000 0 0.0000
HRT FINANCIAL LP (HRTF) 14.37 14.59 10.58 14.55 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 13.78 13.52 13.76 17.72 27.11 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 12.99 13.18 7.94 8.57 6.86 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 6.59 6.57 8.47 5.87 8.61 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 5.17 5.09 5.82 6.34 9.41 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.65 0.67 0.00 0.23 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
GTS Securities LLC (GTSM) 0.02 0.02 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Maxim Group LLC (MAXM) 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):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Jane Street Capital, LLC (JNST):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
HRT FINANCIAL LP (HRTF):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Virtu Americas, LLC (NITE):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
G1 Execution Services, LLC (ETMM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
UBS Securities LLC (UBSS):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Two Sigma Securities (SOHO):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
StoneX Financial Inc (INTL):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
GTS Securities LLC (GTSM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Maxim Group LLC (MAXM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.

June 2024


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 97.73 0.52 1.11 0.64

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) 29.80 29.87 27.46 27.97 24.16 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 15.64 15.68 14.42 16.29 8.99 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 15.50 15.54 16.48 14.47 9.55 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 13.43 13.24 14.19 18.65 32.77 0 0.0000 0 0.0000 0 0.0000 0 0.0000
HRT FINANCIAL LP (HRTF) 9.61 9.72 7.55 6.32 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 7.51 7.44 9.38 7.82 17.04 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 7.42 7.40 9.84 8.36 7.49 0 0.0000 0 0.0000 0 0.0000 0 0.0000
GTS Securities LLC (GTSM) 0.44 0.45 0.23 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.34 0.34 0.46 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Maxim Group LLC (MAXM) 0.31 0.32 0.00 0.11 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Jane Street Capital, LLC (JNST):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
G1 Execution Services, LLC (ETMM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Virtu Americas, LLC (NITE):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
HRT FINANCIAL LP (HRTF):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Two Sigma Securities (SOHO):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
UBS Securities LLC (UBSS):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
GTS Securities LLC (GTSM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
StoneX Financial Inc (INTL):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Maxim Group LLC (MAXM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.

June 2024


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 61.40 2.02 23.75 12.83

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 LLC (CITL) 41.94 42.75 47.27 41.67 37.71 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 25.07 23.52 23.64 30.71 22.29 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 17.93 17.31 18.18 16.67 23.14 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Option ATS (LPOX) 15.07 16.42 10.91 10.96 16.86 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Susquehanna International Group, LLP (SUSQ):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Wolverine Execution Svc. (WEXX):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
DASH Financial Option ATS (LPOX):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.

April 2024


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 95.20 0.44 2.02 2.34

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) 34.95 35.06 38.56 32.47 32.03 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 14.83 14.94 15.68 15.08 9.98 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.29 13.84 14.83 15.17 31.63 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 14.28 14.26 10.17 16.56 14.06 0 0.0000 0 0.0000 0 0.0000 0 0.0000
HRT FINANCIAL LP (HRTF) 13.84 14.19 15.68 12.95 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 4.90 4.90 2.54 4.26 6.23 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 2.88 2.78 2.54 3.52 6.07 0 0.0000 0 0.0000 0 0.0000 0 0.0000
GTS Securities LLC (GTSM) 0.02 0.02 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Maxim Group LLC (MAXM) 0.01 0.01 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.00 0.00 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Jane Street Capital, LLC (JNST):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Virtu Americas, LLC (NITE):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
G1 Execution Services, LLC (ETMM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
HRT FINANCIAL LP (HRTF):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
UBS Securities LLC (UBSS):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Two Sigma Securities (SOHO):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
GTS Securities LLC (GTSM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Maxim Group LLC (MAXM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
StoneX Financial Inc (INTL):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.

April 2024


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 97.13 0.55 1.17 1.15

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) 31.95 32.20 26.82 26.52 19.37 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 15.98 16.02 15.15 17.62 11.48 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 14.16 14.25 15.69 13.86 5.87 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.08 13.82 15.69 14.80 35.14 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 7.73 7.53 10.95 10.35 20.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 7.54 7.47 11.13 11.21 7.80 0 0.0000 0 0.0000 0 0.0000 0 0.0000
HRT FINANCIAL LP (HRTF) 7.23 7.36 4.01 5.30 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
GTS Securities LLC (GTSM) 0.52 0.54 0.18 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Maxim Group LLC (MAXM) 0.40 0.41 0.36 0.17 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.33 0.34 0.00 0.17 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Pershing Preferred Mkt Maker (PPFD) 0.07 0.07 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
MCAP LLC (MCAP) 0.00 0.00 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
G1 Execution Services, LLC (ETMM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Jane Street Capital, LLC (JNST):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Virtu Americas, LLC (NITE):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Two Sigma Securities (SOHO):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
UBS Securities LLC (UBSS):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
HRT FINANCIAL LP (HRTF):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
GTS Securities LLC (GTSM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Maxim Group LLC (MAXM):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
StoneX Financial Inc (INTL):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Pershing Preferred Mkt Maker (PPFD):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
MCAP LLC (MCAP):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.

April 2024


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 52.30 1.94 22.20 23.55

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) 38.41 38.19 36.84 42.51 35.18 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 25.83 23.52 30.26 28.80 27.80 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 20.00 19.90 18.42 19.70 20.63 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Option ATS (LPOX) 15.75 18.39 14.47 8.99 16.40 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Susquehanna International Group, LLP (SUSQ):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
Wolverine Execution Svc. (WEXX):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.
DASH Financial Option ATS (LPOX):
Cetera Advisor Networks LLC Under Rule 606(a)(1)(iv), the SEC requires broker-dealers to disclose any material aspects of order flow routing relations with “Specified Venues” (e.g. market makers, securities exchanges, ECNs, etc.) that may influence the routing of equity and options orders by broker-dealers. The SEC advises that such aspects may create conflicts of interest that may compromise the interests of public customers and result in financial harm to the customers. Cetera Advisor Networks LLC (CAN) reports material aspects of its relationships with Specified Venues which includes but is not limited to the following: 1.The routing of CAN’s order flow is managed exclusively by Pershing. Although CAN is ultimately responsible for Best Execution and supervision of its execution quality, the routing decision is made by Pershing. 2.CAN does not receive or solicit any payment for order flow from any venue. 3.CAN does not receive any sort of consideration from any venue. 4.CAN does not receive any services or technologies subsidized by venues. 5.CAN does not receive any payment for order flow passed through by Pershing.

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