The Securities and Exchange Commission adopted Rule 11Ac1-5 (now known as Rule 605 of Regulation NMS) to improve public disclosure of order execution practices. Under Rule 605, market centers that trade national market system securities are required to make available to the public monthly electronic reports that include uniform statistical measures of execution quality.

The SEC’s final adopting release, along with the text of Rule 605, can be found at The SEC’s Frequently Asked Questions about Rule 605 can be found at

Please click the links below to access Citadel Securities LLC (“Citadel”) monthly Rule 605 reports.

Please click the below links for Citadel’s Rule 11Ac1-5 statistics (CDRG).

December 2016 -TCDRG201612

January 2017 -TCDRG201701

February 2017 -TCDRG201702

FIF Supplemental Retail Execution Quality Statistics

Q4 2016 - FIF Rule 605-606 Q4_2016

Q3 2016 - FIF Rule 605-606 Q3_2016

Q2 2016 - FIF Rule 605-606 Q2_2016


While Citadel has used reasonable efforts to prepare these reports in compliance Rule 605, these statistics have not been audited and may contain errors. Accordingly, any decision about whether to send orders to Citadel should not be based solely on these statistics.