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 Wed Jan 31 2024 15:48:30 EST-0500 (Eastern Daylight Time)

4th Quarter, 2023

December 2023

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 56.57 5.14 33.93 4.35

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) 36.40 38.37 37.22 33.97 28.69 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 23.46 25.49 23.43 20.82 17.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 17.44 15.01 17.06 20.13 28.52 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 10.31 11.66 10.16 8.54 6.86 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 8.00 5.13 7.79 12.07 13.73 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 4.39 4.34 4.34 4.47 4.54 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Material Aspects Equities.pdf
G1 Execution Services, LLC (ETMM):
Material Aspects Equities.pdf
Virtu Americas, LLC (NITE):
Material Aspects Equities.pdf
Jane Street Capital, LLC (JNST):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf
Two Sigma Securities (SOHO):
Material Aspects Equities.pdf

December 2023

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 60.25 6.30 29.39 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)
Virtu Americas, LLC (NITE) 28.10 28.44 27.80 27.03 31.35 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Securities (CDRG) 26.77 25.78 29.17 28.31 26.44 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 22.30 24.34 20.77 19.22 16.50 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 9.24 10.16 8.91 7.80 6.44 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 8.98 6.67 8.82 12.95 14.62 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 4.62 4.60 4.53 4.69 4.65 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
Jane Street Capital, LLC (JNST):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf
Two Sigma Securities (SOHO):
Material Aspects Equities.pdf

December 2023

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 0.07 23.97 71.83 4.13

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) 60.15 78.75 63.30 59.12 59.58 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 23.74 13.13 21.47 24.52 23.55 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 16.11 8.13 15.23 16.36 16.87 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

October 2023

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 53.88 5.37 37.22 3.53

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 (CDRG) 39.30 41.63 40.00 36.72 29.88 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 24.65 27.35 24.40 21.55 16.48 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 17.42 13.75 17.09 21.08 35.23 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 8.84 9.94 8.77 7.56 5.68 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 8.00 5.06 8.02 11.87 11.99 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 1.80 2.27 1.72 1.22 0.74 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Material Aspects Equities.pdf
G1 Execution Services, LLC (ETMM):
Material Aspects Equities.pdf
Virtu Americas, LLC (NITE):
Material Aspects Equities.pdf
Jane Street Capital, LLC (JNST):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf
Two Sigma Securities (SOHO):
Material Aspects Equities.pdf

October 2023

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 57.54 6.50 32.93 3.04

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) 32.98 33.35 33.29 31.86 37.35 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Securities (CDRG) 26.13 24.69 27.83 28.28 26.46 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 22.28 24.52 20.92 19.25 15.67 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 8.90 6.39 8.76 12.84 14.05 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 7.26 7.98 6.88 6.25 5.40 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 2.45 3.07 2.32 1.53 1.06 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
Jane Street Capital, LLC (JNST):
Material Aspects Equities.pdf
Two Sigma Securities (SOHO):
Material Aspects Equities.pdf

October 2023

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 0.04 26.77 68.68 4.51

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) 60.66 65.85 63.45 59.68 58.88 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 23.32 21.95 21.21 24.04 24.74 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 16.03 12.20 15.33 16.28 16.38 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

November 2023

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 55.76 5.13 34.98 4.13

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) 38.99 41.77 39.33 35.78 28.32 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 24.57 27.13 24.83 21.30 17.33 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Virtu Americas, LLC (NITE) 16.72 13.67 16.70 19.91 30.86 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 8.92 9.94 8.71 7.62 6.29 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 7.98 5.06 7.72 11.98 13.86 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 2.82 2.42 2.72 3.41 3.34 0 0.0000 0 0.0000 0 0.0000 0 0.0000

Material Aspects:

Citadel Securities (CDRG):
Material Aspects Equities.pdf
G1 Execution Services, LLC (ETMM):
Material Aspects Equities.pdf
Virtu Americas, LLC (NITE):
Material Aspects Equities.pdf
Jane Street Capital, LLC (JNST):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf
Two Sigma Securities (SOHO):
Material Aspects Equities.pdf

November 2023

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 59.09 6.29 30.83 3.80

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) 30.50 30.97 31.06 29.09 33.74 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Citadel Securities (CDRG) 26.40 25.38 27.91 28.05 26.37 0 0.0000 0 0.0000 0 0.0000 0 0.0000
G1 Execution Services, LLC (ETMM) 21.96 24.12 20.60 18.88 15.71 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Jane Street Capital, LLC (JNST) 9.01 9.91 8.89 7.66 6.28 0 0.0000 0 0.0000 0 0.0000 0 0.0000
UBS Securities LLC (UBSS) 8.89 6.54 8.63 12.79 14.17 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Two Sigma Securities (SOHO) 3.23 3.07 2.90 3.54 3.73 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
Jane Street Capital, LLC (JNST):
Material Aspects Equities.pdf
UBS Securities LLC (UBSS):
Material Aspects Equities.pdf
Two Sigma Securities (SOHO):
Material Aspects Equities.pdf

November 2023

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 0.02 24.94 71.17 3.87

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) 60.48 62.75 63.17 59.57 60.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Susquehanna International Group, LLP (SUSQ) 23.40 25.49 21.45 24.11 22.89 0 0.0000 0 0.0000 0 0.0000 0 0.0000
Wolverine Execution Svc. (WEXX) 16.12 11.76 15.38 16.32 17.11 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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