Rule 605 and 606 Statements

Rule 605 Statement

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 here. The SEC’s Frequently Asked Questions about Rule 605 can be found here.

Please click the links below for Citadel Securities LLC’s monthly Rule 605 statistics.

March 2024 – TCDRG2024023

February 2024 – TCDRG202402

January 2024 – TCDRG202401

December 2023 – TCDRG202312

November 2023 – TCDRG202311

October 2023 – TCDRG202310

September 2023 – TCDRG202309

August 2023 – TCDRG202308

July 2023 – TCDRG202307

June 2023 – TCDRG202306

May 2023 – TCDRG202305

April 2023 – TCDRG202304

March 2023 – TCDRG202303

February 2023 – TCDRG202302

January 2023 – TCDRG202301

December 2022 – TCDRG202212

November 2022 – TCDRG202211

October 2022 – TCDRG202210

September 2022 – TCDRG202209

August 2022 – TCDRG202208

July 2022 – TCDRG202207

June 2022 – TCDRG202206

May 2022 – TCDRG202205

April 2022 – TCDRG202204

March 2022 – TCDRG202203

February 2022 – TCDRG202202

January 2022 – TCDRG202201

December 2021 – TCDRG202112

November 2021 – TCDRG202111

October 2021 – TCDRG202110

September 2021 – TCDRG202109

August 2021 – TCDRG202108

July 2021 – TCDRG202107

June 2021 – TCDRG202106

May 2021 – TCDRG202105

April 2021 – TCDRG202104

March 2021 – TCDRG202103

February 2021 – TCDRG202102

January 2021 – TCDRG202101

December 2020 – TCDRG202012

November 2020 – TCDRG202011

October 2020 – TCDRG202010

September 2020 – TCDRG202009

August 2020 – TCDRG202008

July 2020 – TCDRG202007

June 2020 – TCDRG202006

May 2020 – TCDRG202005

April 2020 – TCDRG202004

March 2020 – TCDRG202003

February 2020 – TCDRG202002

January 2020 – TCDRG202001

December 2019 – TCDRG201912

November 2019 – TCDRG201911

October 2019 – TCDRG201910

September 2019 – TCDRG201909

August 2019 – TCDRG201908

July 2019 – TCDRG201907

June 2019 – TCDRG201906

May 2019 – TCDRG201905

April 2019 – TCDRG201904

Rule 606 Statement

The Securities and Exchange Commission adopted Rule 11Ac1-6 (now known as Rule 606 of Regulation NMS) to improve public disclosure of order routing practices. Under Rule 606, broker-dealers that route customer orders in equities and option securities are required to publish quarterly reports that provide a general overview of their routing practices.

The SEC’s final adopting release, along with the text of Rule 606, can be found here. The SEC’s Frequently Asked Questions about Rule 606 can be found here.

Please click the links below for Citadel Securities Institutional LLC’s quarterly Rule 606 statistics.

Q4 2023 – Rule 606 Statement-4Q2023 (PDF)
Q4 2023 – Rule 606 Statement-4Q2023 (xml)

Q3 2023 – Rule 606 Statement-3Q2023 (PDF)
Q3 2023 – Rule 606 Statement-3Q2023 (xml)

Q2 2023 – Rule 606 Statement-2Q2023 (PDF)
Q2 2023 – Rule 606 Statement-2Q2023 (xml)

Q1 2023 – Rule 606 Statement-1Q2023 (PDF)
Q1 2023 – Rule 606 Statement-1Q2023 (xml)

Q4 2022 – Rule 606 Statement-4Q2022 (PDF)
Q4 2022 – Rule 606 Statement-4Q2022 (xml)

Q3 2022 – Rule 606 Statement-3Q2022 (PDF)
Q3 2022 – Rule 606 Statement-3Q2022 (xml)

Q2 2022 – Rule 606 Statement-2Q2022 (PDF)
Q2 2022 – Rule 606 Statement-2Q2022 (xml)

Q1 2022 – Rule 606 Statement-1Q2022 (PDF)
Q1 2022 – Rule 606 Statement-1Q2022 (xml)

Q4 2021 – Rule 606 Statement-4Q2021 (PDF)
Q4 2021 – Rule 606 Statement-4Q2021 (xml)

Q3 2021 – Rule 606 Statement-3Q2021 (PDF)
Q3 2021 – Rule 606 Statement-3Q2021 (xml)

Q2 2021 – Rule 606 Statement-2Q2021 (PDF)
Q2 2021 – Rule 606 Statement-2Q2021 (xml)

Q1 2021 – Rule 606 Statement-1Q2021 (PDF)
Q1 2021 – Rule 606 Statement-1Q2021 (xml)

Q4 2020 – Rule 606 Statement-4Q2020 (PDF)
Q4 2020 – Rule 606 Statement-4Q2020 (xml)

Q3 2020 – Rule 606 Statement-3Q2020 (PDF)
Q3 2020 – Rule 606 Statement-3Q2020 (xml)

Q2 2020 – Rule 606 Statement-2Q2020 (PDF)
Q2 2020 – Rule 606 Statement-2Q2020 (xml)

Q1 2020 – Rule 606 Statement-1Q2020 (PDF)
Q1 2020 – Rule 606 Statement-1Q2020 (xml)

Q4 2019 – Rule 606 Statement-4Q2019

Q3 2019 – Rule-606-Statement-3Q2019

Q2 2019 – Rule-606-Statement-2Q2019

Q1 2019 – Rule-606-Statement-1Q2019

Q4 2018 – Rule-606-Statement-4Q2018

Q3 2018 – Rule-606-Statement-3Q2018

Q2 2018 – Rule-606-Statement-2Q2018

FIF Supplemental Retail Execution Quality Statistics

Q1 2019 – FIF-Rule-605-606-Q1_2019

Q4 2018 – FIF-Rule-605-606-Q4_2018

Q3 2018 – FIF-Rule-605-606-Q3_2018

Q2 2018 – FIF-Rule-605-606-Q2_2018

Disclaimer

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.