A2E_Engine
Richard Wenzel
2021-11-01T13:33:15Z
2021-11-01T13:33:15Z
Investintech.com Inc.
16.00
8040
21570
32767
32767
False
False
| ZacksTrade - Held NMS Stocks and Options Order Routing Public Report |
| Generated on Sun Nov 22 2020 15:50:36 GMT-0500 (EST) |
| 2nd Quarter, 2020 |
| April 2020 |
| S&P 500 Stocks |
| Summary |
| Non-Directed Orders |
Market Orders as % of |
Marketable Limit |
Non-Marketable Limit |
Other Orders as % of |
| as % of All Orders |
Non-Directed Orders |
Orders as % of Non- |
Orders as % of Non- |
Non-Directed Orders |
| Directed Orders |
Directed Orders |
| 99.88 |
0.01 |
33.99 |
65.56 |
0.44 |
| Venues |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| Goldman |
39.28 |
0 |
0.45 |
59.68 |
0 |
0 |
-1 |
-2.6837 |
320 |
16.583100000000002 |
0 |
| Sachs and |
| Co. LLC |
| (GSCO) |
| Nasdaq |
26.19 |
100 |
8.6300000000000008 |
35.25 |
30.77 |
0 |
-288 |
-27.414300000000001 |
602 |
25.032 |
-4 |
-6.5892999999999997 |
| Stock Market |
| (XNAS) |
| IBKR ATS |
8.08 |
0 |
23.52 |
0.13 |
0 |
0 |
0 |
0 |
0 |
| (IATS) |
| IEX (IEXD) |
3.64 |
0 |
7.88 |
1.47 |
0 |
0 |
-16 |
-7.8455000000000004 |
-3 |
-7.1856 |
0 |
| Citadel |
3.33 |
0 |
9.7899999999999991 |
0 |
0 |
0 |
0 |
0 |
0 |
| Securities |
| (CDED) |
| UBS ATS |
3.2 |
0 |
9.42 |
0 |
0 |
0 |
0 |
0 |
0 |
| (UBSA) |
| CBOE BYX |
2.5 |
0 |
2.4900000000000002 |
2.52 |
0 |
0 |
11 |
4.8490000000000002 |
0 |
2.9298999999999999 |
0 |
| Exchange |
| (BATY) |
| CBOE EDGA |
2.33 |
0 |
6.85 |
0.01 |
0 |
0 |
74 |
16.4605 |
0 |
-8 |
0 |
| Exchange |
| (EDGA) |
| Virtu |
2.25 |
0 |
6.61 |
0 |
0 |
0 |
0 |
0 |
0 |
| Financial Inc. |
| (VIRT) |
| Material Aspects: |
| Goldman Sachs and Co. LLC (GSCO): |
| IBKR may receive volume discounts that are not passed on to clients. |
| Nasdaq Stock Market (XNAS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| IBKR ATS (IATS): |
| IBKR operates the IBKR ATS in accordance with SEC Regulation ATS, on which it executes IBKR client orders against each other or against one or more professional liquidity providers who send orders into the IBKR ATS. Order executions on the IBKR ATS are faster, eliminate exchange |
| fees, and may offer Price Improvement. Statistical information regarding the quality of executions for orders effected through the IBKR ATS (e.g., average execution speed, percentage of orders receiving Price Improvement, etc.) is available on the IBKR website at: https://ibkr.com/ |
| regulatoryreports. |
| Citadel Securities (CDED): |
| IBKR-LITE clients are generally charged zero commission for NMS stock and ETF orders. IBKR-LITE orders are generally routed to select over-the-counter market-makers for handling. IBKR's agreements with the Market Makers provide Interactive Brokers payment for order flow from each |
| Market Maker for trades executed with that Market Maker. |
| CBOE BYX Exchange (BATY): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| CBOE EDGA Exchange (EDGA): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Virtu Financial Inc. (VIRT): |
| IBKR-LITE clients are generally charged zero commission for NMS stock and ETF orders. IBKR-LITE orders are generally routed to select over-the-counter market-makers for handling. IBKR's agreements with the Market Makers provide Interactive Brokers payment for order flow from each |
| Market Maker for trades executed with that Market Maker. |
| April 2020 |
| Non-S&P 500 Stocks |
| Summary |
| Non-Directed Orders |
Market Orders as % of |
Marketable Limit |
Non-Marketable Limit |
Other Orders as % of |
| as % of All Orders |
Non-Directed Orders |
Orders as % of Non- |
Orders as % of Non- |
Non-Directed Orders |
| Directed Orders |
Directed Orders |
| 99.8 |
0 |
37.51 |
58.54 |
3.95 |
| Venues |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| Nasdaq |
30.61 |
9.39 |
42.64 |
53.78 |
0 |
-1523 |
-22.064900000000002 |
1893 |
13.5684 |
-181 |
-11.2462 |
| Stock Market |
| (XNAS) |
| Goldman |
28.81 |
0.3 |
49.02 |
0 |
0 |
-1 |
-2.5939000000000001 |
946 |
15.903 |
0 |
| Sachs and |
| Co. LLC |
| (GSCO) |
| IBKR ATS |
7.57 |
19.72 |
0.3 |
0 |
0 |
0 |
0 |
0 |
| (IATS) |
| IEX (IEXG) |
3.82 |
8.35 |
1.1599999999999999 |
0.3 |
0 |
-25 |
-8.6995000000000005 |
-8 |
-7.6014999999999997 |
-1 |
-9 |
| CBOE EDGX |
3.69 |
4.9800000000000004 |
1.25 |
27.61 |
0 |
-765 |
-22.910599999999999 |
16 |
1.6556999999999999 |
-82 |
-15.086600000000001 |
| Exchange |
| (EDGX) |
| Citadel |
3.68 |
9.81 |
0 |
0 |
0 |
0 |
0 |
0 |
| Securities |
| (CDED) |
| UBS ATS |
3.48 |
9.2799999999999994 |
0 |
0 |
0 |
0 |
0 |
0 |
| (UBSA) |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| CBOE BYX |
2.34 |
2.15 |
2.54 |
1.2 |
0 |
16 |
1.7170000000000001 |
0 |
0.7369 |
-2 |
-3.2366000000000001 |
| Exchange |
| (BATY) |
| Virtu |
2.21 |
5.88 |
0 |
0 |
0 |
0 |
0 |
0 |
| Financial Inc. |
| (VIRT) |
| NYSE Arca |
1.98 |
4.99 |
0.01 |
2.58 |
0 |
-702 |
-20.998000000000001 |
0 |
20 |
-3 |
-10.795400000000001 |
| (ARCX) |
| CBOE BZX |
1.84 |
2.36 |
1.04 |
8.76 |
0 |
-256 |
-21.700399999999998 |
41 |
11.864800000000001 |
-7 |
-18.2685 |
| Exchange |
| (BATS) |
| Material Aspects: |
| Nasdaq Stock Market (XNAS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Goldman Sachs and Co. LLC (GSCO): |
| IBKR may receive volume discounts that are not passed on to clients. |
| IBKR ATS (IATS): |
| IBKR operates the IBKR ATS in accordance with SEC Regulation ATS, on which it executes IBKR client orders against each other or against one or more professional liquidity providers who send orders into the IBKR ATS. Order executions on the IBKR ATS are faster, eliminate exchange |
| fees, and may offer Price Improvement. Statistical information regarding the quality of executions for orders effected through the IBKR ATS (e.g., average execution speed, percentage of orders receiving Price Improvement, etc.) is available on the IBKR website at: https://ibkr.com/ |
| regulatoryreports. |
| CBOE EDGX Exchange (EDGX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Citadel Securities (CDED): |
| IBKR-LITE clients are generally charged zero commission for NMS stock and ETF orders. IBKR-LITE orders are generally routed to select over-the-counter market-makers for handling. IBKR's agreements with the Market Makers provide Interactive Brokers payment for order flow from each |
| Market Maker for trades executed with that Market Maker. |
| CBOE BYX Exchange (BATY): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Virtu Financial Inc. (VIRT): |
| IBKR-LITE clients are generally charged zero commission for NMS stock and ETF orders. IBKR-LITE orders are generally routed to select over-the-counter market-makers for handling. IBKR's agreements with the Market Makers provide Interactive Brokers payment for order flow from each |
| Market Maker for trades executed with that Market Maker. |
| NYSE Arca (ARCX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| CBOE BZX Exchange (BATS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| April 2020 |
| Options |
| Summary |
| Non-Directed Orders |
Market Orders as % of |
Marketable Limit |
Non-Marketable Limit |
Other Orders as % of |
| as % of All Orders |
Non-Directed Orders |
Orders as % of Non- |
Orders as % of Non- |
Non-Directed Orders |
| Directed Orders |
Directed Orders |
| 99.9 |
0.04 |
6.7 |
71.14 |
22.12 |
| Venues |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| Nasdaq |
17.22 |
0 |
10.61 |
23.21 |
0 |
0 |
-449 |
-39.797699999999999 |
1887 |
54.658000000000001 |
0 |
| Options |
| Market |
| (XNDQ) |
| Cboe EDGX |
15.34 |
0 |
14.06 |
10.98 |
29.78 |
0 |
205 |
14.6189 |
203 |
17.196300000000001 |
860 |
50.8917 |
| Options |
| Exchange |
| (EDGO) |
| Cboe BZX |
13.73 |
0 |
9.06 |
18.440000000000001 |
0 |
0 |
-347 |
-44.8797 |
1870 |
69.162700000000001 |
0 |
| Options |
| Exchange |
| (BATS) |
| Chicago |
12.03 |
0 |
14.21 |
13.54 |
6.53 |
0 |
91 |
8.8036999999999992 |
185 |
9.75 |
34 |
20.75 |
| Board Options |
| Exchange |
| (XCBO) |
| NYSE Arca |
10.53 |
0 |
4.38 |
9.83 |
14.66 |
0 |
-272 |
-54.794800000000002 |
132 |
65.108400000000003 |
302 |
40.9512 |
| Options |
| (ARCO) |
| Nasdaq ISE |
8.18 |
41.67 |
4.07 |
5.46 |
18.12 |
0 |
1 |
-54 |
-28.721900000000002 |
215 |
83.333299999999994 |
352 |
46.479500000000002 |
| (XISX) |
| CBOE C2 |
5.73 |
16.670000000000002 |
3.35 |
1.73 |
19.3 |
0 |
-204 |
-45.2301 |
128 |
42 |
153 |
38.662500000000001 |
| Exchange |
| (C2OX) |
| MIAX Emerald |
4.78 |
8.33 |
1.8 |
6.54 |
0 |
2 |
43 |
-41 |
-24.2118 |
468 |
43 |
0 |
| Exchange |
| (EMLD) |
| Nasdaq |
4.5199999999999996 |
16.670000000000002 |
2.06 |
6.16 |
0 |
4 |
80 |
-159 |
-53.9559 |
576 |
52.159300000000002 |
0 |
| GEMX (GMNI) |
| Material Aspects: |
| Nasdaq Options Market (XNDQ): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Cboe EDGX Options Exchange (EDGO): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Cboe BZX Options Exchange (BATS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Chicago Board Options Exchange (XCBO): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| NYSE Arca Options (ARCO): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Nasdaq ISE (XISX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| CBOE C2 Exchange (C2OX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| MIAX Emerald Exchange (EMLD): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Nasdaq GEMX (GMNI): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| May 2020 |
| S&P 500 Stocks |
| Summary |
| Non-Directed Orders |
Market Orders as % of |
Marketable Limit |
Non-Marketable Limit |
Other Orders as % of |
| as % of All Orders |
Non-Directed Orders |
Orders as % of Non- |
Orders as % of Non- |
Non-Directed Orders |
| Directed Orders |
Directed Orders |
| 99.81 |
0 |
28.42 |
71.239999999999995 |
0.34 |
| Venues |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| Goldman |
47.41 |
1.59 |
65.92 |
0 |
0 |
0 |
0.21429999999999999 |
312 |
18.708400000000001 |
0 |
| Sachs and |
| Co. LLC |
| (GSCO) |
| Nasdaq |
22.86 |
7.06 |
29.12 |
30 |
0 |
-289 |
-29.419 |
348 |
24.884399999999999 |
0 |
-3.9398 |
| Stock Market |
| (XNAS) |
| IBKR ATS |
8.98 |
31.23 |
0.14000000000000001 |
0 |
0 |
0 |
0 |
0 |
| (IATS) |
| IEX (IEXD) |
3.03 |
6.6 |
1.63 |
0 |
0 |
-4 |
-6.6481000000000003 |
-6 |
-7.274 |
0 |
| Citadel |
2.19 |
7.71 |
0 |
0 |
0 |
0 |
0 |
0 |
| Securities |
| (CDED) |
| CBOE BYX |
2.15 |
2.15 |
2.16 |
0 |
0 |
11 |
4.5922000000000001 |
0 |
-0.42959999999999998 |
0 |
| Exchange |
| (BATY) |
| UBS ATS |
2 |
7.02 |
0 |
0 |
0 |
0 |
0 |
0 |
| (UBSA) |
| CBOE EDGA |
1.7 |
5.96 |
0.01 |
0 |
0 |
54 |
16.9572 |
0 |
-8 |
0 |
| Exchange |
| (EDGA) |
| Material Aspects: |
| Goldman Sachs and Co. LLC (GSCO): |
| IBKR may receive volume discounts that are not passed on to clients. |
| Nasdaq Stock Market (XNAS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| IBKR ATS (IATS): |
| IBKR operates the IBKR ATS in accordance with SEC Regulation ATS, on which it executes IBKR client orders against each other or against one or more professional liquidity providers who send orders into the IBKR ATS. Order executions on the IBKR ATS are faster, eliminate exchange |
| fees, and may offer Price Improvement. Statistical information regarding the quality of executions for orders effected through the IBKR ATS (e.g., average execution speed, percentage of orders receiving Price Improvement, etc.) is available on the IBKR website at: https://ibkr.com/ |
| regulatoryreports. |
| Citadel Securities (CDED): |
| IBKR-LITE clients are generally charged zero commission for NMS stock and ETF orders. IBKR-LITE orders are generally routed to select over-the-counter market-makers for handling. IBKR's agreements with the Market Makers provide Interactive Brokers payment for order flow from each |
| Market Maker for trades executed with that Market Maker. |
| CBOE BYX Exchange (BATY): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| CBOE EDGA Exchange (EDGA): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| May 2020 |
| Non-S&P 500 Stocks |
| Summary |
| Non-Directed Orders |
Market Orders as % of |
Marketable Limit |
Non-Marketable Limit |
Other Orders as % of |
| as % of All Orders |
Non-Directed Orders |
Orders as % of Non- |
Orders as % of Non- |
Non-Directed Orders |
| Directed Orders |
Directed Orders |
| 99.82 |
0 |
40.409999999999997 |
57.27 |
2.31 |
| Venues |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| Nasdaq |
32.31 |
9.91 |
46.8 |
65.09 |
0 |
-1939 |
-24.308399999999999 |
2811 |
20.747800000000002 |
-89 |
-7.7625000000000002 |
| Stock Market |
| (XNAS) |
| Goldman |
25.95 |
0.2 |
45.17 |
0 |
0 |
-1 |
-3.5869 |
1880 |
17.309000000000001 |
0 |
| Sachs and |
| Co. LLC |
| (GSCO) |
| IBKR ATS |
9.33 |
22.72 |
0.26 |
0 |
0 |
0 |
0 |
0 |
| (IATS) |
| Citadel |
3.94 |
9.74 |
0 |
0 |
0 |
0 |
0 |
0 |
| Securities |
| (CDED) |
| IEX (IEXD) |
3.89 |
8.1999999999999993 |
0.98 |
0.55000000000000004 |
0 |
-30 |
-7.5335000000000001 |
-4 |
-8.0608000000000004 |
0 |
| UBS ATS |
3.42 |
8.4700000000000006 |
0 |
0 |
0 |
0 |
0 |
0 |
| (UBSA) |
| CBOE EDGX |
3.08 |
4.92 |
1.54 |
9.1199999999999992 |
0 |
-1086 |
-24.758600000000001 |
32 |
2.3496999999999999 |
-42 |
-23.141200000000001 |
| Exchange |
| (EDGX) |
| CBOE BYX |
2.2000000000000002 |
1.86 |
2.52 |
0.36 |
0 |
29 |
3.8338999999999999 |
0 |
-1.3101 |
0 |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| Exchange |
| (BATY) |
| Virtu |
2.2000000000000002 |
5.43 |
0 |
0 |
0 |
0 |
0 |
0 |
| Financial Inc. |
| (VIRT) |
| NYSE Arca |
2.11 |
5.01 |
0.02 |
3.1 |
0 |
-1080 |
-24.875399999999999 |
2 |
20 |
-2 |
-15 |
| (ARCX) |
| CBOE EDGA |
1.99 |
4.92 |
0 |
0 |
0 |
172 |
17.330100000000002 |
0 |
0 |
| Exchange |
| (EDGA) |
| Material Aspects: |
| Nasdaq Stock Market (XNAS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Goldman Sachs and Co. LLC (GSCO): |
| IBKR may receive volume discounts that are not passed on to clients. |
| IBKR ATS (IATS): |
| IBKR operates the IBKR ATS in accordance with SEC Regulation ATS, on which it executes IBKR client orders against each other or against one or more professional liquidity providers who send orders into the IBKR ATS. Order executions on the IBKR ATS are faster, eliminate exchange |
| fees, and may offer Price Improvement. Statistical information regarding the quality of executions for orders effected through the IBKR ATS (e.g., average execution speed, percentage of orders receiving Price Improvement, etc.) is available on the IBKR website at: https://ibkr.com/ |
| regulatoryreports. |
| Citadel Securities (CDED): |
| IBKR-LITE clients are generally charged zero commission for NMS stock and ETF orders. IBKR-LITE orders are generally routed to select over-the-counter market-makers for handling. IBKR's agreements with the Market Makers provide Interactive Brokers payment for order flow from each |
| Market Maker for trades executed with that Market Maker. |
| CBOE EDGX Exchange (EDGX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| CBOE BYX Exchange (BATY): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Virtu Financial Inc. (VIRT): |
| IBKR-LITE clients are generally charged zero commission for NMS stock and ETF orders. IBKR-LITE orders are generally routed to select over-the-counter market-makers for handling. IBKR's agreements with the Market Makers provide Interactive Brokers payment for order flow from each |
| Market Maker for trades executed with that Market Maker. |
| NYSE Arca (ARCX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| CBOE EDGA Exchange (EDGA): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| May 2020 |
| Options |
| Summary |
| Non-Directed Orders |
Market Orders as % of |
Marketable Limit |
Non-Marketable Limit |
Other Orders as % of |
| as % of All Orders |
Non-Directed Orders |
Orders as % of Non- |
Orders as % of Non- |
Non-Directed Orders |
| Directed Orders |
Directed Orders |
| 99.94 |
0.14000000000000001 |
7.4 |
71.37 |
21.09 |
| Venues |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| Cboe BZX |
14.98 |
2.7 |
6.98 |
20.25 |
0 |
-3 |
-50 |
-343 |
-58.499099999999999 |
2009 |
68.390900000000002 |
0 |
| Options |
| Exchange |
| (BATS) |
| Cboe EDGX |
14.1 |
13.51 |
10.4 |
9.7899999999999991 |
29.98 |
3 |
21 |
165 |
17.3019 |
352 |
21 |
957 |
51.458300000000001 |
| Options |
| Exchange |
| (EDGO) |
| Chicago |
12.64 |
0 |
11.26 |
15.33 |
4.07 |
0 |
57 |
8.9995999999999992 |
184 |
9.75 |
67 |
20.712700000000002 |
| Board Options |
| Exchange |
| (XCBO) |
| Nasdaq |
11.59 |
2.7 |
9.35 |
15.26 |
0 |
-3 |
-48 |
-261 |
-36.392499999999998 |
959 |
54.2926 |
0 |
| Options |
| Market |
| (XNDQ) |
| NYSE Arca |
11.38 |
13.51 |
7.79 |
10.46 |
15.75 |
-1 |
-85 |
-294 |
-60.7971 |
569 |
71.941800000000001 |
327 |
40.844999999999999 |
| Options |
| (ARCO) |
| Nasdaq ISE |
7.73 |
51.35 |
2.46 |
4.6100000000000003 |
19.86 |
-14 |
-38.6571 |
-15 |
-14.7767 |
226 |
86 |
378 |
37.2682 |
| (XISX) |
| CBOE C2 |
7.27 |
2.7 |
3.27 |
4.97 |
16.489999999999998 |
1 |
42 |
-197 |
-46.245899999999999 |
158 |
41.8889 |
171 |
29.968499999999999 |
| Exchange |
| (C2OX) |
| Nasdaq |
5.92 |
0 |
2.2599999999999998 |
8.06 |
0 |
0 |
-72 |
-45.281199999999998 |
758 |
44.470999999999997 |
0 |
| GEMX (GMNI) |
| MIAX Emerald |
5.49 |
2.7 |
1.46 |
7.53 |
0 |
-1 |
-50 |
-23 |
-28.95 |
490 |
42.756500000000003 |
0 |
| Exchange |
| (EMLD) |
| Material Aspects: |
| Cboe BZX Options Exchange (BATS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Cboe EDGX Options Exchange (EDGO): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Chicago Board Options Exchange (XCBO): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Nasdaq Options Market (XNDQ): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| NYSE Arca Options (ARCO): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Nasdaq ISE (XISX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| CBOE C2 Exchange (C2OX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Nasdaq GEMX (GMNI): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| MIAX Emerald Exchange (EMLD): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| 4une 2020 |
| S&P 500 Stocks |
| Summary |
| Non-Directed Orders |
Market Orders as % of |
Marketable Limit |
Non-Marketable Limit |
Other Orders as % of |
| as % of All Orders |
Non-Directed Orders |
Orders as % of Non- |
Orders as % of Non- |
Non-Directed Orders |
| Directed Orders |
Directed Orders |
| 99.98 |
0 |
25.75 |
73.94 |
0.31 |
| Venues |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| Nasdaq |
29.44 |
7.97 |
36.909999999999997 |
29.87 |
0 |
-167 |
-24.5517 |
1092 |
20.4709 |
0 |
-0.76790000000000003 |
| Stock Market |
| (XNAS) |
| Goldman |
17.64 |
0.67 |
23.62 |
0 |
0 |
-1 |
-1.6037999999999999 |
152 |
17.220600000000001 |
0 |
| Sachs and |
| Co. LLC |
| (GSCO) |
| NYSE Arca |
14.71 |
3.32 |
18.739999999999998 |
0 |
0 |
-85 |
-29.463899999999999 |
11 |
13.145300000000001 |
0 |
| (ARCX) |
| New York |
12.12 |
1.74 |
15.58 |
48.05 |
0 |
-32 |
-27.0398 |
233 |
15.845599999999999 |
-2 |
-10.0044 |
| Stock |
| Exchange |
| (XNYS) |
| IBKR ATS |
7.38 |
28.32 |
0.11 |
0 |
0 |
0 |
0 |
0 |
| (IATS) |
| IEX (IEXG) |
3.44 |
7.51 |
2.04 |
0 |
0 |
-6 |
-7.4424000000000001 |
-32 |
-8.8331999999999997 |
0 |
| Citadel |
2.48 |
9.65 |
0 |
0 |
0 |
0 |
0 |
0 |
| Securities |
| (CDED) |
| CBOE BYX |
2.15 |
1.78 |
2.29 |
0 |
0 |
6 |
4.4435000000000002 |
0 |
8.0999999999999996E-3 |
0 |
| Exchange |
| (BATY) |
| UBS ATS |
2.14 |
8.31 |
0 |
0 |
0 |
0 |
0 |
0 |
| (UBSA) |
| Material Aspects: |
| Nasdaq Stock Market (XNAS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Goldman Sachs and Co. LLC (GSCO): |
| IBKR may receive volume discounts that are not passed on to clients. |
| NYSE Arca (ARCX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| New York Stock Exchange (XNYS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| IBKR ATS (IATS): |
| IBKR operates the IBKR ATS in accordance with SEC Regulation ATS, on which it executes IBKR client orders against each other or against one or more professional liquidity providers who send orders into the IBKR ATS. Order executions on the IBKR ATS are faster, eliminate exchange |
| fees, and may offer Price Improvement. Statistical information regarding the quality of executions for orders effected through the IBKR ATS (e.g., average execution speed, percentage of orders receiving Price Improvement, etc.) is available on the IBKR website at: https://ibkr.com/ |
| regulatoryreports. |
| Citadel Securities (CDED): |
| IBKR-LITE clients are generally charged zero commission for NMS stock and ETF orders. IBKR-LITE orders are generally routed to select over-the-counter market-makers for handling. IBKR's agreements with the Market Makers provide Interactive Brokers payment for order flow from each |
| Market Maker for trades executed with that Market Maker. |
| CBOE BYX Exchange (BATY): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| 4une 2020 |
| Non-S&P 500 Stocks |
| Summary |
| Non-Directed Orders |
Market Orders as % of |
Marketable Limit |
Non-Marketable Limit |
Other Orders as % of |
| as % of All Orders |
Non-Directed Orders |
Orders as % of Non- |
Orders as % of Non- |
Non-Directed Orders |
| Directed Orders |
Directed Orders |
| 99.9 |
0 |
41.33 |
57.38 |
1.29 |
| Venues |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| Nasdaq |
32.380000000000003 |
12.79 |
45.87 |
60.43 |
0 |
-2964 |
-27.537199999999999 |
4252 |
21.890699999999999 |
-43 |
-4.9977 |
| Stock Market |
| (XNAS) |
| NYSE Arca |
10.52 |
4.76 |
14.85 |
2.42 |
0 |
-1875 |
-27.4877 |
185 |
12.572900000000001 |
-2 |
-14.067600000000001 |
| (ARCX) |
| Goldman |
10.38 |
0.19 |
17.940000000000001 |
0 |
0 |
-6 |
-9.66 |
1200 |
18.2562 |
0 |
| Sachs and |
| Co. LLC |
| (GSCO) |
| New York |
8.89 |
1.84 |
13.84 |
14.5 |
0 |
-819 |
-26.958100000000002 |
1834 |
17.0838 |
-12 |
-10.1823 |
| Stock |
| Exchange |
| (XNYS) |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| IBKR ATS |
8.31 |
19.78 |
0.24 |
0 |
0 |
0 |
0 |
0 |
| (IATS) |
| Citadel |
4.0599999999999996 |
9.82 |
0 |
0 |
0 |
0 |
0 |
0 |
| Securities |
| (CDED) |
| IEX (IEXG) |
3.91 |
7.67 |
1.26 |
1.1499999999999999 |
0 |
-22 |
-6.3334000000000001 |
-10 |
-7.6356999999999999 |
0 |
| CBOE EDGX |
3.53 |
5.09 |
2.17 |
14.12 |
0 |
-1233 |
-25.081099999999999 |
101 |
6.2030000000000003 |
-9 |
-7.1067 |
| Exchange |
| (EDGX) |
| UBS ATS |
3.47 |
8.4 |
0 |
0 |
0 |
0 |
0 |
0 |
| (UBSA) |
| CBOE BYX |
2.2599999999999998 |
2.13 |
2.39 |
0.51 |
0 |
27 |
2.3782000000000001 |
-1 |
-4.1161000000000003 |
0 |
| Exchange |
| (BATY) |
| Virtu |
2.1800000000000002 |
5.26 |
0 |
0 |
0 |
0 |
0 |
0 |
| Financial Inc. |
| (VIRT) |
| Eudson River |
1.89 |
4.58 |
0 |
0 |
0 |
0 |
0 |
0 |
| Trading |
| (ERTX) |
| Material Aspects: |
| Nasdaq Stock Market (XNAS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| NYSE Arca (ARCX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Goldman Sachs and Co. LLC (GSCO): |
| IBKR may receive volume discounts that are not passed on to clients. |
| New York Stock Exchange (XNYS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| IBKR ATS (IATS): |
| IBKR operates the IBKR ATS in accordance with SEC Regulation ATS, on which it executes IBKR client orders against each other or against one or more professional liquidity providers who send orders into the IBKR ATS. Order executions on the IBKR ATS are faster, eliminate exchange |
| fees, and may offer Price Improvement. Statistical information regarding the quality of executions for orders effected through the IBKR ATS (e.g., average execution speed, percentage of orders receiving Price Improvement, etc.) is available on the IBKR website at: https://ibkr.com/ |
| regulatoryreports. |
| Citadel Securities (CDED): |
| IBKR-LITE clients are generally charged zero commission for NMS stock and ETF orders. IBKR-LITE orders are generally routed to select over-the-counter market-makers for handling. IBKR's agreements with the Market Makers provide Interactive Brokers payment for order flow from each |
| Market Maker for trades executed with that Market Maker. |
| CBOE EDGX Exchange (EDGX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| CBOE BYX Exchange (BATY): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Virtu Financial Inc. (VIRT): |
| IBKR-LITE clients are generally charged zero commission for NMS stock and ETF orders. IBKR-LITE orders are generally routed to select over-the-counter market-makers for handling. IBKR's agreements with the Market Makers provide Interactive Brokers payment for order flow from each |
| Market Maker for trades executed with that Market Maker. |
| 4une 2020 |
| Options |
| Summary |
| Non-Directed Orders |
Market Orders as % of |
Marketable Limit |
Non-Marketable Limit |
Other Orders as % of |
| as % of All Orders |
Non-Directed Orders |
Orders as % of Non- |
Orders as % of Non- |
Non-Directed Orders |
| Directed Orders |
Directed Orders |
| 99.88 |
0.85 |
9.8000000000000007 |
65.89 |
23.46 |
| Venues |
| Venue - |
Non- |
Market |
Marketable |
Non- |
Other |
Net Payment |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment Paid/ |
Net Payment |
Net Payment Paid/ |
| Non-directed |
Directed |
Orders |
Limit Orders |
Marketable |
Orders |
Paid/Received for |
Received for Market |
Received for |
Received for |
Received for Non- |
Received for Non- |
Paid/Received for |
Received for Other |
| Order Flow |
Orders (%) |
(%) |
(%) |
Limit Orders |
(%) |
Market |
Orders(cents per |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Marketable Limit |
Other |
Orders(cents per |
| (%) |
Orders(USD) |
hundred shares) |
Orders(USD) |
Orders(cents per |
Orders(USD) |
Orders(cents per |
Orders(USD) |
hundred shares) |
| hundred shares) |
hundred shares) |
| Cboe BZX |
15.58 |
0.4 |
6.4 |
22.69 |
0 |
-1 |
-50 |
-446 |
-61.563499999999998 |
2323 |
71.820099999999996 |
0 |
| Options |
| Exchange |
| (BATS) |
| Chicago |
13.95 |
0 |
13.67 |
15.51 |
10.18 |
0 |
119 |
8.6835000000000004 |
333 |
9.7491000000000003 |
40 |
20.136199999999999 |
| Board Options |
| Exchange |
| (XCBO) |
| Cboe EDGX |
13.76 |
1.98 |
9.8699999999999992 |
10.38 |
25.33 |
4 |
21 |
286 |
17.263300000000001 |
471 |
20.9161 |
815 |
54.807699999999997 |
| Options |
| Exchange |
| (EDGO) |
| NYSE Arca |
13.35 |
8.73 |
8.27 |
13.53 |
15.13 |
1 |
4.3333000000000004 |
-716 |
-71.358599999999996 |
1417 |
71.267600000000002 |
319 |
46.493400000000001 |
| Options |
| (ARCO) |
| CBOE C2 |
9.6999999999999993 |
1.98 |
1.7 |
6.93 |
21.13 |
0 |
-107 |
-44.5685 |
274 |
41.549300000000002 |
212 |
28.451599999999999 |
| Exchange |
| (C2OX) |
| Nasdaq |
8.06 |
0.4 |
13.4 |
10.24 |
0 |
0 |
-48 |
-426 |
-46.016199999999998 |
642 |
50.091299999999997 |
0 |
| Options |
| Market |
| (XNDQ) |
| Nasdaq |
6.56 |
0.4 |
2.11 |
9.64 |
0 |
0 |
-48 |
-182 |
-65.485600000000005 |
765 |
46.746899999999997 |
0 |
| GEMX (GMNI) |
| MIAX Emerald |
5.67 |
0.4 |
1.1100000000000001 |
8.44 |
0 |
0 |
45 |
-17 |
-29.965499999999999 |
653 |
42.938899999999997 |
0 |
| Exchange |
| (EMLD) |
| Nasdaq ISE |
5.19 |
21.83 |
1.18 |
1.85 |
15.63 |
-53 |
-39.7761 |
-16 |
-15.666700000000001 |
140 |
84.445800000000006 |
357 |
44.127499999999998 |
| (XISX) |
| Material Aspects: |
| Cboe BZX Options Exchange (BATS): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Chicago Board Options Exchange (XCBO): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Cboe EDGX Options Exchange (EDGO): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| NYSE Arca Options (ARCO): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| CBOE C2 Exchange (C2OX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Nasdaq Options Market (XNDQ): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Nasdaq GEMX (GMNI): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| MIAX Emerald Exchange (EMLD): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
| Nasdaq ISE (XISX): |
| IBKR may receive volume discounts that are not passed on to clients. Likewise, rebates passed on to clients by IBKR may be less than the rebates IBKR receives from the relevant market. For example, IBKR may receive enhanced rebate payments for exceeding volume thresholds on |
| particular markets, but typically will not pass these enhancements directly to clients. |
False
False
False
False
False
False