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

Generated on Wed Jan 25 2023 15:26:48 EST-0500 (Eastern Daylight Time)

4th Quarter, 2022

October 2022

S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 91.94 0.30 2.94 4.82

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) 33.76 33.81 40.91 37.50 29.97 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.27 13.73 15.15 19.84 21.03 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.13 13.58 10.61 12.50 25.78 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 12.84 12.89 6.06 10.47 13.61 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 12.79 13.49 12.12 2.97 5.42 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.83 12.07 15.15 16.72 4.19 0 0.0000 0 0.0000 0 0.0000 0 0.0000
INTL FCStone Securities Inc (INTL) 0.39 0.42 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CA Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CA Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CA Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CA Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CA Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CA Material Aspects Disclosure Q2 2021.pdf
INTL FCStone Securities Inc (INTL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

October 2022

Non-S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 91.85 1.33 3.45 3.38

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) 33.33 33.99 26.37 28.35 23.34 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 17.95 18.19 20.88 12.06 16.07 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.99 15.41 17.22 23.70 23.41 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 15.02 14.66 16.67 13.47 25.86 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 10.63 10.46 16.12 16.78 6.92 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 7.06 7.28 2.75 5.64 4.39 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Pershing Preferred Mkt Maker (PPFD) 0.02 0.02 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CA Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CA Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CA Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CA Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CA Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CA Material Aspects Disclosure Q2 2021.pdf
Pershing Preferred Mkt Maker (PPFD):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

October 2022

Option Contracts

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 74.15 3.59 18.23 4.02

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) 45.45 46.61 33.82 40.87 55.26 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 30.29 30.08 35.29 30.14 30.26 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 20.03 21.81 20.59 13.91 14.47 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Option ATS (LPOX) 3.17 0.14 8.82 15.07 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Matrix Executions, LLC (MTRX) 1.06 1.35 1.47 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
CA Material Aspects Disclosure Q2 2021.pdf
Susquehanna International Group, LLP (SUSQ):
CA Material Aspects Disclosure Q2 2021.pdf
Wolverine Execution Svc. (WEXX):
CA Material Aspects Disclosure Q2 2021.pdf
DASH Financial Option ATS (LPOX):
CA Material Aspects Disclosure Q2 2021.pdf
Matrix Executions, LLC (MTRX):
CA Material Aspects Disclosure Q2 2021.pdf

November 2022

S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 92.80 0.30 2.45 4.46

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) 33.80 34.07 35.71 33.79 28.10 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 14.16 13.68 17.14 20.00 20.62 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 13.87 13.38 12.86 13.97 24.12 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 13.06 13.11 10.00 12.24 12.68 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 12.94 13.47 11.43 4.31 6.81 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 11.74 11.84 11.43 15.69 7.57 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.43 0.45 1.43 0.00 0.09 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CA Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CA Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CA Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CA Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CA Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CA Material Aspects Disclosure Q2 2021.pdf
StoneX Financial Inc (INTL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

November 2022

Non-S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 93.63 0.96 2.32 3.09

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) 33.64 34.02 29.05 30.38 26.11 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 17.77 17.96 19.73 9.88 17.17 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.83 15.50 18.63 20.41 21.47 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 15.09 14.75 15.52 15.24 25.14 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 10.11 10.07 12.86 17.08 5.19 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 7.54 7.68 4.21 7.02 4.92 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Pershing Preferred Mkt Maker (PPFD) 0.02 0.02 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CA Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CA Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CA Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CA Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CA Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CA Material Aspects Disclosure Q2 2021.pdf
Pershing Preferred Mkt Maker (PPFD):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

November 2022

Option Contracts

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 67.79 6.28 20.66 5.28

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities LLC (CITL) 48.41 50.47 40.58 43.61 50.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 29.98 28.72 23.19 37.89 23.28 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 18.84 20.81 19.57 10.13 26.72 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Option ATS (LPOX) 2.78 0.00 16.67 8.37 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
CA Material Aspects Disclosure Q2 2021.pdf
Susquehanna International Group, LLP (SUSQ):
CA Material Aspects Disclosure Q2 2021.pdf
Wolverine Execution Svc. (WEXX):
CA Material Aspects Disclosure Q2 2021.pdf
DASH Financial Option ATS (LPOX):
CA Material Aspects Disclosure Q2 2021.pdf

December 2022

S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 92.77 0.21 2.41 4.61

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) 33.03 33.67 31.25 34.81 19.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.14 13.21 6.25 13.63 33.46 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 13.78 13.48 8.33 14.92 19.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 13.60 14.05 16.67 3.68 9.62 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 12.85 12.92 14.58 15.84 9.90 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 12.08 12.14 22.92 16.76 8.08 0 0.0000 0 0.0000 0 0.0000 0 0.0000
StoneX Financial Inc (INTL) 0.51 0.53 0.00 0.37 0.29 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CA Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CA Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CA Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CA Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CA Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CA Material Aspects Disclosure Q2 2021.pdf
StoneX Financial Inc (INTL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

December 2022

Non-S&P 500 Stocks

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 93.44 1.02 2.38 3.17

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities (CDRG) 33.29 33.82 35.74 29.77 19.22 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 17.73 17.82 16.21 11.18 20.35 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 15.85 15.38 16.41 21.93 24.92 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 14.39 14.02 13.87 13.26 26.49 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 10.13 10.08 11.72 17.43 5.76 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 8.58 8.84 6.05 6.42 3.26 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Pershing Preferred Mkt Maker (PPFD) 0.03 0.04 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
CA Material Aspects Disclosure Q2 2021.pdf
G1 Execution Services, LLC (ETMM):
CA Material Aspects Disclosure Q2 2021.pdf
Virtu Americas, LLC (NITE):
CA Material Aspects Disclosure Q2 2021.pdf
Two Sigma Securities (SOHO):
CA Material Aspects Disclosure Q2 2021.pdf
UBS Securities LLC (UBSS):
CA Material Aspects Disclosure Q2 2021.pdf
Jane Street Capital, LLC (JNST):
CA Material Aspects Disclosure Q2 2021.pdf
Pershing Preferred Mkt Maker (PPFD):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

December 2022

Option Contracts

Summary

Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non-Directed Orders Other Orders as % of Non-Directed Orders
100.00 76.17 2.91 17.95 2.96

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities LLC (CITL) 45.69 47.43 32.69 36.76 67.92 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 28.52 27.31 34.62 33.96 20.75 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 23.15 25.11 17.31 17.76 11.32 0 0.0000 0 0.0000 0 0.0000 0 0.0000
DASH Financial Option ATS (LPOX) 2.63 0.15 15.38 11.53 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities LLC (CITL):
CA Material Aspects Disclosure Q2 2021.pdf
Susquehanna International Group, LLP (SUSQ):
CA Material Aspects Disclosure Q2 2021.pdf
Wolverine Execution Svc. (WEXX):
CA Material Aspects Disclosure Q2 2021.pdf
DASH Financial Option ATS (LPOX):
CA Material Aspects Disclosure Q2 2021.pdf
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