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.

September 2019 – TCDRG201909

August 2019 – TCDRG201908

July 2019 – TCDRG201907

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.

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.