November 2020
S&P 500 Stocks
Summary
| Non-Directed Orders as % of All Orders |
Market Orders as % of Non-Directed Orders |
Marketable Limit Orders as % of Non-Directed Orders |
Non-Marketable Limit Orders as % of Non-Directed Orders |
Other Orders as % of Non-Directed Orders |
| 100.00 |
91.56 |
0.88 |
4.26 |
3.30 |
Venues
| Venue - Non-directed Order Flow |
Non-Directed Orders (%) |
Market Orders (%) |
Marketable Limit Orders (%) |
Non-Marketable Limit Orders (%) |
Other Orders (%) |
Net Payment Paid/Received for Market Orders(USD) |
Net Payment Paid/Received for Market Orders(cents per hundred shares) |
Net Payment Paid/Received for Marketable Limit Orders(USD) |
Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) |
Net Payment Paid/Received for Non-Marketable Limit Orders(USD) |
Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) |
Net Payment Paid/Received for Other Orders(USD) |
Net Payment Paid/Received for Other Orders(cents per hundred shares) |
| Citadel Securities (CDRG) |
34.80 |
34.97 |
29.71 |
31.98 |
35.27 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Virtu Americas, LLC (NITE) |
24.69 |
24.69 |
23.19 |
23.42 |
26.94 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Two Sigma Securities (SOHO) |
14.18 |
14.04 |
14.49 |
14.86 |
17.25 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| G1 Execution Services, LLC (ETMM) |
13.54 |
13.58 |
17.39 |
17.27 |
6.40 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| UBS Securities LLC (UBSS) |
12.78 |
12.72 |
15.22 |
12.46 |
14.15 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
November 2020
Non-S&P 500 Stocks
Summary
| Non-Directed Orders as % of All Orders |
Market Orders as % of Non-Directed Orders |
Marketable Limit Orders as % of Non-Directed Orders |
Non-Marketable Limit Orders as % of Non-Directed Orders |
Other Orders as % of Non-Directed Orders |
| 100.00 |
90.01 |
1.58 |
5.02 |
3.40 |
Venues
| Venue - Non-directed Order Flow |
Non-Directed Orders (%) |
Market Orders (%) |
Marketable Limit Orders (%) |
Non-Marketable Limit Orders (%) |
Other Orders (%) |
Net Payment Paid/Received for Market Orders(USD) |
Net Payment Paid/Received for Market Orders(cents per hundred shares) |
Net Payment Paid/Received for Marketable Limit Orders(USD) |
Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) |
Net Payment Paid/Received for Non-Marketable Limit Orders(USD) |
Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) |
Net Payment Paid/Received for Other Orders(USD) |
Net Payment Paid/Received for Other Orders(cents per hundred shares) |
| Citadel Securities (CDRG) |
33.56 |
34.34 |
30.17 |
26.33 |
25.28 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| G1 Execution Services, LLC (ETMM) |
20.65 |
20.94 |
20.86 |
22.76 |
9.75 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Virtu Americas, LLC (NITE) |
15.67 |
15.04 |
16.57 |
17.44 |
29.25 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| UBS Securities LLC (UBSS) |
15.19 |
14.91 |
17.50 |
17.91 |
17.43 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Two Sigma Securities (SOHO) |
14.78 |
14.62 |
14.71 |
15.39 |
18.29 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| BNY Mellon Capital Markets LLC (BKCM) |
0.15 |
0.16 |
0.19 |
0.18 |
0.00 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
Material Aspects:
BNY Mellon Capital Markets LLC (BKCM):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]
November 2020
Option Contracts
Summary
| Non-Directed Orders as % of All Orders |
Market Orders as % of Non-Directed Orders |
Marketable Limit Orders as % of Non-Directed Orders |
Non-Marketable Limit Orders as % of Non-Directed Orders |
Other Orders as % of Non-Directed Orders |
| 100.00 |
52.09 |
6.21 |
37.92 |
3.78 |
Venues
| Venue - Non-directed Order Flow |
Non-Directed Orders (%) |
Market Orders (%) |
Marketable Limit Orders (%) |
Non-Marketable Limit Orders (%) |
Other Orders (%) |
Net Payment Paid/Received for Market Orders(USD) |
Net Payment Paid/Received for Market Orders(cents per hundred shares) |
Net Payment Paid/Received for Marketable Limit Orders(USD) |
Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) |
Net Payment Paid/Received for Non-Marketable Limit Orders(USD) |
Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) |
Net Payment Paid/Received for Other Orders(USD) |
Net Payment Paid/Received for Other Orders(cents per hundred shares) |
| Citadel Securities LLC (CITL) |
60.73 |
66.58 |
65.22 |
55.52 |
25.00 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Susquehanna International Group, LLP (SUSQ) |
39.27 |
33.42 |
34.78 |
44.48 |
75.00 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
December 2020
S&P 500 Stocks
Summary
| Non-Directed Orders as % of All Orders |
Market Orders as % of Non-Directed Orders |
Marketable Limit Orders as % of Non-Directed Orders |
Non-Marketable Limit Orders as % of Non-Directed Orders |
Other Orders as % of Non-Directed Orders |
| 100.00 |
90.96 |
0.98 |
4.00 |
4.05 |
Venues
| Venue - Non-directed Order Flow |
Non-Directed Orders (%) |
Market Orders (%) |
Marketable Limit Orders (%) |
Non-Marketable Limit Orders (%) |
Other Orders (%) |
Net Payment Paid/Received for Market Orders(USD) |
Net Payment Paid/Received for Market Orders(cents per hundred shares) |
Net Payment Paid/Received for Marketable Limit Orders(USD) |
Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) |
Net Payment Paid/Received for Non-Marketable Limit Orders(USD) |
Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) |
Net Payment Paid/Received for Other Orders(USD) |
Net Payment Paid/Received for Other Orders(cents per hundred shares) |
| Citadel Securities (CDRG) |
35.20 |
36.31 |
28.18 |
28.73 |
18.21 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Virtu Americas, LLC (NITE) |
23.69 |
23.12 |
28.73 |
23.71 |
35.21 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Two Sigma Securities (SOHO) |
14.73 |
14.20 |
11.05 |
14.09 |
27.98 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| G1 Execution Services, LLC (ETMM) |
14.02 |
13.95 |
14.36 |
17.21 |
12.32 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| UBS Securities LLC (UBSS) |
12.36 |
12.40 |
17.68 |
16.26 |
6.29 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
December 2020
Non-S&P 500 Stocks
Summary
| Non-Directed Orders as % of All Orders |
Market Orders as % of Non-Directed Orders |
Marketable Limit Orders as % of Non-Directed Orders |
Non-Marketable Limit Orders as % of Non-Directed Orders |
Other Orders as % of Non-Directed Orders |
| 100.00 |
89.64 |
1.98 |
5.25 |
3.13 |
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) |
34.39 |
35.20 |
29.02 |
27.96 |
25.30 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| G1 Execution Services, LLC (ETMM) |
19.39 |
19.69 |
17.49 |
20.71 |
10.01 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Virtu Americas, LLC (NITE) |
15.92 |
15.32 |
16.35 |
17.27 |
30.66 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| UBS Securities LLC (UBSS) |
15.49 |
15.20 |
21.17 |
17.46 |
16.81 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Two Sigma Securities (SOHO) |
14.43 |
14.17 |
15.97 |
16.60 |
17.21 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| BNY Mellon Capital Markets LLC (BKCM) |
0.38 |
0.42 |
0.00 |
0.00 |
0.00 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Raymond James & Associates, Inc. (RAJA) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
Material Aspects:
BNY Mellon Capital Markets LLC (BKCM):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]
Raymond James & Associates, Inc. (RAJA):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]
December 2020
Option Contracts
Summary
| Non-Directed Orders as % of All Orders |
Market Orders as % of Non-Directed Orders |
Marketable Limit Orders as % of Non-Directed Orders |
Non-Marketable Limit Orders as % of Non-Directed Orders |
Other Orders as % of Non-Directed Orders |
| 100.20 |
50.10 |
5.48 |
40.44 |
3.98 |
Venues
| Venue - Non-directed Order Flow |
Non-Directed Orders (%) |
Market Orders (%) |
Marketable Limit Orders (%) |
Non-Marketable Limit Orders (%) |
Other Orders (%) |
Net Payment Paid/Received for Market Orders(USD) |
Net Payment Paid/Received for Market Orders(cents per hundred shares) |
Net Payment Paid/Received for Marketable Limit Orders(USD) |
Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) |
Net Payment Paid/Received for Non-Marketable Limit Orders(USD) |
Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) |
Net Payment Paid/Received for Other Orders(USD) |
Net Payment Paid/Received for Other Orders(cents per hundred shares) |
| Citadel Securities LLC (CITL) |
59.58 |
61.43 |
70.91 |
56.19 |
55.00 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Susquehanna International Group, LLP (SUSQ) |
39.72 |
37.18 |
29.09 |
43.81 |
45.00 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| DASH Financial Option ATS (LPOX) |
0.70 |
1.39 |
0.00 |
0.00 |
0.00 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
Material Aspects:
DASH Financial Option ATS (LPOX):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]
October 2020
S&P 500 Stocks
Summary
| Non-Directed Orders as % of All Orders |
Market Orders as % of Non-Directed Orders |
Marketable Limit Orders as % of Non-Directed Orders |
Non-Marketable Limit Orders as % of Non-Directed Orders |
Other Orders as % of Non-Directed Orders |
| 100.00 |
90.05 |
0.71 |
4.60 |
4.64 |
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) |
34.24 |
34.66 |
32.20 |
31.11 |
29.44 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Virtu Americas, LLC (NITE) |
26.20 |
26.00 |
27.12 |
26.54 |
29.44 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Two Sigma Securities (SOHO) |
14.26 |
13.91 |
14.41 |
13.46 |
21.79 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| G1 Execution Services, LLC (ETMM) |
13.80 |
14.10 |
16.95 |
15.42 |
5.84 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| UBS Securities LLC (UBSS) |
11.50 |
11.32 |
9.32 |
13.46 |
13.49 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
October 2020
Non-S&P 500 Stocks
Summary
| Non-Directed Orders as % of All Orders |
Market Orders as % of Non-Directed Orders |
Marketable Limit Orders as % of Non-Directed Orders |
Non-Marketable Limit Orders as % of Non-Directed Orders |
Other Orders as % of Non-Directed Orders |
| 100.00 |
90.43 |
2.00 |
4.76 |
2.81 |
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) |
34.87 |
35.06 |
30.38 |
35.15 |
31.56 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| G1 Execution Services, LLC (ETMM) |
20.16 |
20.48 |
20.46 |
21.13 |
8.03 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Virtu Americas, LLC (NITE) |
16.50 |
15.96 |
19.08 |
17.29 |
30.59 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| UBS Securities LLC (UBSS) |
14.17 |
14.21 |
16.79 |
12.80 |
13.23 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Two Sigma Securities (SOHO) |
14.09 |
14.06 |
13.28 |
13.64 |
16.59 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| BNY Mellon Capital Markets LLC (BKCM) |
0.11 |
0.12 |
0.00 |
0.00 |
0.00 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| BNY Mellon Capital Markets LLC (BKMM) |
0.10 |
0.11 |
0.00 |
0.00 |
0.00 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
Material Aspects:
BNY Mellon Capital Markets LLC (BKCM):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]
BNY Mellon Capital Markets LLC (BKMM):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]
October 2020
Option Contracts
Summary
| Non-Directed Orders as % of All Orders |
Market Orders as % of Non-Directed Orders |
Marketable Limit Orders as % of Non-Directed Orders |
Non-Marketable Limit Orders as % of Non-Directed Orders |
Other Orders as % of Non-Directed Orders |
| 100.00 |
51.89 |
4.79 |
37.91 |
5.42 |
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) |
63.10 |
63.83 |
47.37 |
64.45 |
60.47 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
| Susquehanna International Group, LLP (SUSQ) |
36.90 |
36.17 |
52.63 |
35.55 |
39.53 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |
0 |
0.0000 |