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 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).

August 2019 – TCDRG201908

July 2019 – TCDRG201907

June 2019 – TCDRG201906

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


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.