TKG - The Karn Group SEC Rule 606 Order Routing Disclosure
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Vanguard Brokerage Services - Held NMS Stocks and Options Order Routing Public Report

Generated on Tue Jul 26 2022 14:24:24 EDT-0400 (Eastern Daylight Time)

2nd Quarter, 2022

May 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 50.78 5.35 40.13 3.74

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) 41.63 43.84 42.33 39.29 35.71 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 21.73 18.26 20.55 24.97 35.70 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 19.31 19.71 19.51 19.11 15.63 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 17.33 18.18 17.61 16.62 12.96 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Material Aspects Equities.pdf
Virtu Americas, LLC (NITE):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf
G1 Execution Services, LLC (ETMM):
Material Aspects Equities.pdf

May 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
100.01 55.93 5.74 34.87 3.47

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)
Virtu Americas, LLC (NITE) 31.93 30.40 33.19 33.45 39.20 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 27.35 30.96 27.63 22.45 17.87 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Securities (CDRG) 27.34 25.40 27.90 29.94 31.46 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.39 13.24 11.28 14.16 11.47 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Group, Options (CDEL) 0.00 0.00 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Virtu Americas, LLC (NITE):
Material Aspects Equities.pdf
G1 Execution Services, LLC (ETMM):
Material Aspects Equities.pdf
Citadel Securities (CDRG):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf
Citadel Group, Options (CDEL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

May 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 0.12 17.70 77.09 5.09

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) 61.58 62.73 63.60 60.47 71.36 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 27.89 28.79 26.18 28.70 21.46 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 10.53 8.48 10.22 10.83 7.18 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Material Aspects Options.pdf
Susquehanna International Group, LLP (SUSQ):
Material Aspects Options.pdf
Wolverine Execution Svc. (WEXX):
Material Aspects Options.pdf

June 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 51.59 5.57 39.10 3.73

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) 41.44 43.51 42.00 39.32 34.20 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 21.55 18.28 20.85 24.64 35.51 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 19.93 21.52 20.06 18.29 14.86 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 17.08 16.69 17.09 17.75 15.43 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Material Aspects Equities.pdf
Virtu Americas, LLC (NITE):
Material Aspects Equities.pdf
G1 Execution Services, LLC (ETMM):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf

June 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
100.02 57.59 5.72 33.02 3.67

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)
Virtu Americas, LLC (NITE) 31.59 29.90 33.65 33.41 38.43 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Securities (CDRG) 27.57 25.91 27.93 30.03 30.91 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 27.14 30.50 26.80 22.34 18.08 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.70 13.69 11.62 14.22 12.59 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Group, Options (CDEL) 0.00 0.00 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Virtu Americas, LLC (NITE):
Material Aspects Equities.pdf
Citadel Securities (CDRG):
Material Aspects Equities.pdf
G1 Execution Services, LLC (ETMM):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf
Citadel Group, Options (CDEL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

June 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 0.11 18.47 76.43 4.98

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 (CDRG) 61.24 62.67 63.15 60.19 70.20 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 28.19 29.11 26.51 28.95 22.62 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 10.58 8.22 10.34 10.86 7.19 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Material Aspects Options.pdf
Susquehanna International Group, LLP (SUSQ):
Material Aspects Options.pdf
Wolverine Execution Svc. (WEXX):
Material Aspects Options.pdf

April 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 50.84 5.74 39.28 4.14

Venues

Venue - Non-directed Order Flow Non-Directed Orders (%) Market Orders (%) Marketable Limit Orders (%) Non-Marketable Limit Orders (%) Other Orders (%) Net Payment Paid/Received for Market Orders(USD) Net Payment Paid/Received for Market Orders(cents per hundred shares) Net Payment Paid/Received for Marketable Limit Orders(USD) Net Payment Paid/Received for Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Non-Marketable Limit Orders(USD) Net Payment Paid/Received for Non-Marketable Limit Orders(cents per hundred shares) Net Payment Paid/Received for Other Orders(USD) Net Payment Paid/Received for Other Orders(cents per hundred shares)
Citadel Securities (CDRG) 41.00 43.08 41.71 38.75 35.75 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 21.57 18.31 20.46 24.45 35.96 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 20.96 21.62 21.15 20.59 15.95 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 16.47 16.99 16.68 16.21 12.34 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Material Aspects Equities.pdf
Virtu Americas, LLC (NITE):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf
G1 Execution Services, LLC (ETMM):
Material Aspects Equities.pdf

April 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 57.48 5.73 33.29 3.50

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)
Virtu Americas, LLC (NITE) 31.86 30.38 33.59 33.47 38.13 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 27.31 30.73 27.01 22.48 17.41 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Securities (CDRG) 27.10 25.13 27.76 29.96 31.19 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 13.73 13.76 11.63 14.09 13.27 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Group, Options (CDEL) 0.00 0.00 0.00 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Virtu Americas, LLC (NITE):
Material Aspects Equities.pdf
G1 Execution Services, LLC (ETMM):
Material Aspects Equities.pdf
Citadel Securities (CDRG):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf
Citadel Group, Options (CDEL):
[Insert discussion of the material aspects of the relationship with this venue pursuant to rule 606(a)(1)(iv).]

April 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 0.10 17.70 77.16 5.03

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) 61.50 57.84 63.49 60.57 68.88 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 28.03 27.99 26.40 28.73 23.08 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 10.47 14.18 10.10 10.71 8.03 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Material Aspects Options.pdf
Susquehanna International Group, LLP (SUSQ):
Material Aspects Options.pdf
Wolverine Execution Svc. (WEXX):
Material Aspects Options.pdf
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