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PDF IBKR 606a 2020 Q1 
Interactive Brokers - Held NMS Stocks and Options Order Routing Public Report
Generated on Mon Mar 01 2021 11:16:41 GMT-0500 (EST)
1st Quarter, 2020

January 2020

S&P 500 Stocks

Summary
Non-Directed Orders as % of All Orders

Market Orders as % of Non-Directed Orders

98.68

0.11

Marketable Limit Orders as % of Non-
Directed Orders
30.70

Non-Marketable Limit Orders as % of Non-
Directed Orders
64.77

Other Orders as % of Non-Directed Orders
4.42

Venues
Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

Nasdaq Stock Market
(XNAS)
Goldman Sachs and
Co. LLC (GSCO)
IBKR ATS (IATS)
NYSE Arca (ARCX)
New York Stock
Exchange (XNYS)
IEX (IEXD)
Citadel Securities
(CDED)
CBOE EDGX Exchange
(EDGX)
Virtu Financial Inc.
(VIRT)
UBS ATS (UBSA)

31.33 26.08
8.35 5.67 4.81
3.67 3.10 2.51 2.51 2.32

3.95 0.00
0.00 0.00 0.00
0.00 0.19 0.00 35.46 0.00

7.88 0.81
25.75 3.11 2.76
10.18 9.95 3.68 4.43 7.57

42.73 39.88

27.88 0.00

0.69

0.03

7.28

0.00

1.45

68.30

0.84

0.03

0.07

0.01

2.03

1.55

1.67

0.65

0.00

0.00

-6 0
0 0 0
0 5 0 2,927 0

-1.5802
20.0000 42.9813

-77,156 -200
0 -33,026 -28,219
-2,726 121
-40,020 13,331
0

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-27.0986
-1.3158
0.0000 -29.2391 -25.3056
-4.2215 0.0941
-25.8468
8.3473
0.0000

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD) 193,651
68,433
0 3,515 -403
-312 149
4,306
26,241
0

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)
26.7462

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

-17,818

-11.9749

15.8614

0

0.0000 25.6346 -0.9731

0 0 -23,207

-10.7908

-3.3769 29.8602
13.5193
39.2069

-0

-2.2500

0

0.0000

-35

-12.4817

0

0.0000

0

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.
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.
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.
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.

January 2020

Non-S&P 500 Stocks

Summary
Non-Directed Orders as % of All Orders

Market Orders as % of Non-Directed Orders

97.78

0.09

Marketable Limit Orders as % of Non-
Directed Orders
31.30

Non-Marketable Limit Orders as % of Non-
Directed Orders
60.76

Other Orders as % of Non-Directed Orders
7.85

Venues
Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

Nasdaq

33.06

2.01

8.70

44.22

44.16

-33

Stock Market

(XNAS)

Goldman

19.14

0.00

0.29

31.36

0.00

0

Sachs and

Co. LLC

(GSCO)

NYSE Arca

9.08

0.00

4.06

10.76

16.25

0

(ARCX)

IBKR ATS

6.33

0.00

18.86

0.56

1.06

0

(IATS)

CBOE EDGX

4.43

0.00

5.40

4.42

0.70

0

-9.5209

-647,598 -731
-290,545 0
-392,461

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-26.5154
-1.3081
-27.4303
0.0000
-24.8094

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD) 1,301,020
500,961
121,002 0
28,201

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)
22.1200

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

-49,996

-10.6100

15.6217

0

25.8398 0.0000 9.5096

-23,823 0
-504

-13.2206 0.0000 -16.1892

Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

Exchange (EDGX)

New York

3.88

Stock

Exchange

(XNYS)

IEX (IEXD)

3.83

Citadel

3.69

Securities

(CDED)

UBS ATS

2.92

(UBSA)

Virtu

2.33

Financial Inc.

(VIRT)

CBOE BZX

2.15

Exchange

(BATS)

0.01
0.00 0.30 0.00 35.89 0.01

2.51
11.04 11.59 9.33 4.64 2.64

0.83

33.00

0

0.62

0.03

0.11

0.01

0.00

0.00

1.36

0.25

1.93

2.00

0 141
0 27,903
-4

19.6821
42.8873 -30.0000

-190,452
-11,506 463 0
36,540 -151,773

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-27.5379
-4.4143 0.0653
0.0000 3.8517
-28.0800

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD)
7,781
-1,043 786
0 34,837
29,613

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

6.0026

-45,169

-10.7387

-3.2685 19.4371
30.9517 17.5311

-2 0
0 0
-1,846

-7.3410 0.0000
0.0000 -8.8463

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.
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.
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.
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.
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.
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.

January 2020

Options

Summary
Non-Directed Orders as % of All Orders

Market Orders as % of Non-Directed Orders

99.70

0.08

Marketable Limit Orders as % of Non-
Directed Orders
5.81

Non-Marketable Limit Orders as % of Non-
Directed Orders
48.67

Other Orders as % of Non-Directed Orders
45.44

Venues
Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

NYSE Arca Options (ARCO)
Nasdaq Options Market (XNDQ)
Cboe EDGX Options Exchange (EDGO)
Nasdaq PHLX (XPHL)
Chicago Board Options
Exchange (XCBO)
Nasdaq ISE (XISX)
NYSE American Options (AMXO)
CBOE C2 Exchange
(C2OX)

21.76 17.25 13.88 12.47 7.99 6.75 6.07 4.54

30.51 0.20 0.43 1.38 4.42 16.52 1.62 6.11

6.46 11.80 7.11 9.39 7.59 4.54 1.62 6.12

26.54

18.59

808

34.03

0.00

-80

0.62

28.97

40

7.96

17.71

11

2.72

13.69

-751

0.56 11.53

13.65 0.80

-2,443 41

4.15

4.76

808

13.5362 -48.9024 12.8339 4.9607 -41.3232 -24.2461 11.8944 35.1618

-270,119 -384,268 293,293 -21,767 386,167 -361,228 576,260 -574,187

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-52.8832
-34.2086
39.9732
-2.2565 43.2153
-35.5278 304.0371
-44.2383

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD) 869,619
1,507,258
19
94,190 -177,188
-1 276,175
37,755

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)
64.2325

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

836,997

40.3912

48.1113

0

1.9332

873,373

51.6436

9.2238 -43.1773

171,081 -619,304

11.4024 -24.1586

-0.0341 11.9773

440,291 5,027

32.0187 16.0825

42.5373

40,803

8.1637

Material Aspects:
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 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.
Nasdaq PHLX (XPHL): 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 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.
NYSE American Options (AMXO): 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.

February 2020

S&P 500 Stocks

Summary
Non-Directed Orders as % of All Orders

Market Orders as % of Non-Directed Orders

98.94

0.14

Marketable Limit Orders as % of Non-
Directed Orders
31.14

Non-Marketable Limit Orders as % of Non-
Directed Orders
64.52

Other Orders as % of Non-Directed Orders
4.20

Venues
Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

Nasdaq Stock Market
(XNAS)
Goldman Sachs and
Co. LLC (GSCO)
IBKR ATS (IATS)
New York Stock
Exchange (XNYS)
NYSE Arca (ARCX)
IEX (IEXD)
Citadel Securities
(CDED)
CBOE EDGX Exchange
(EDGX)
Virtu Financial Inc.
(VIRT)
UBS ATS

33.58 21.02
9.13 6.75
4.91 3.65 3.35 3.12 2.48 2.41

5.59 0.00
0.00 0.00
0.00 0.00 25.56 0.00 17.52 0.00

8.72 0.93
28.05 2.45
3.30 9.89 9.69 3.37 4.13 7.73

45.90 32.14

29.55 0.00

0.61

0.00

4.91

67.11

6.02

0.00

0.89

0.03

0.44

0.24

3.15

0.92

1.79

0.27

0.00

0.00

-15 0
0 0
0 0 1,697 0 1,761 0

-6.3245
43.9674 43.0000

-89,200 -332
0 -32,770
-38,309 -3,502 4,313 -35,879 5,507
0

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-25.3632
-2.2627
0.0000 -27.4543
-28.5557 -4.5070 2.8033
-24.9460
3.6572
0.0000

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD) 284,863
77,202
0 12,761
4,992 -402 3,511
2,784
49,962
0

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)
26.2351

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

-18,222

-11.6818

15.6301

0

0.0000 16.2338

0 -35,301

-16.5227

23.1550 -3.5159 28.8646
14.3060
39.3785

0

-0

-4.0135

0

0.0000

-103

-21.2391

0

0.0000

0

Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

(UBSA)

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD)

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

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.
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.
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.
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.
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.

February 2020

Non-S&P 500 Stocks

Summary
Non-Directed Orders as % of All Orders

Market Orders as % of Non-Directed Orders

98.05

0.10

Marketable Limit Orders as % of Non-
Directed Orders
28.51

Non-Marketable Limit Orders as % of Non-
Directed Orders
65.27

Other Orders as % of Non-Directed Orders
6.13

Venues
Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

Nasdaq

35.19

2.18

9.51

45.70

43.27

-20

Stock Market

(XNAS)

-5.8288

-723,279

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-26.9026

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD)
1,405,692

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)
23.0211

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

-50,296

-10.4676

Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

Goldman Sachs and
Co. LLC (GSCO)
NYSE Arca (ARCX)
IBKR ATS (IATS)
CBOE EDGX Exchange
(EDGX)
New York Stock
Exchange (XNYS)
Citadel Securities
(CDED)
IEX (IEXD)
UBS ATS (UBSA)
CBOE BZX Exchange
(BATS)
Virtu Financial Inc.
(VIRT)

18.16
8.29 5.93 5.73 4.54
3.48 3.37 2.59 2.20 2.05

0.00
0.00 0.00 0.00 0.00
23.98 0.00 0.00 0.01 20.29

0.39
4.94 19.75 4.82 2.67
11.10 10.56 9.08 2.75 4.51

27.65

0.00

8.86

17.91

0.45

0.08

6.63

0.47

2.67

33.16

0.44

0.14

0.55

0.02

0.00

0.00

1.96

2.29

1.13

0.14

0
0 0 0 0
6,553 0 0 -3
8,657

37.8080
-30.0000 42.1095

-1,500
-413,001 0
-354,378 -245,651
16,022 -13,560
0 -170,309 23,727

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-2.7549
-27.6420 0.0000 -24.8245
-27.6762
1.7506
-4.5567 0.0000 -28.0238
2.3859

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD) 568,318
153,774 0
39,654
69,227
10,606
-1,100 0
53,246
61,351

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)
15.8411

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

0

26.2877 0.0000 7.1679
14.6265

-26,406 0
-420
-71,563

-13.3861 -14.6857 -16.1086

18.4484 -3.1900 21.0350 31.0562

0
-2 0 -1,641
0

0.0000 -5.2171 -8.1378 0.0000

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.
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.
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.
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 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.
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.

February 2020

Options

Summary
Non-Directed Orders as % of All Orders

Market Orders as % of Non-Directed Orders

99.65

0.08

Marketable Limit Orders as % of Non-
Directed Orders
6.58

Non-Marketable Limit Orders as % of Non-
Directed Orders
50.54

Other Orders as % of Non-Directed Orders
42.80

Venues
Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

NYSE Arca Options (ARCO)
Nasdaq Options Market (XNDQ)
Cboe EDGX Options Exchange (EDGO)
Nasdaq PHLX (XPHL)
CBOE C2 Exchange
(C2OX)
Nasdaq ISE (XISX)
Chicago Board Options
Exchange (XCBO)
NYSE American Options (AMXO)

20.55 18.16
10.82
10.62 9.19 8.28 6.98
5.80

23.92 0.32
0.48
1.48 6.24 26.27 17.67
1.15

5.54 12.41
8.10
9.73 5.48 3.70 9.68
1.78

27.57 34.32

14.56 0.00

1,456 -109

0.42

23.54

9

7.27

14.72

4.15

15.73

0.60

18.02

2.79

11.49

-51 1,018
-2,538 -1,269

10.82

0.49

105

16.0228 -48.6637
13.0000
-9.6660 36.1452 -24.4587 -31.5251
12.0000

-260,491 -357,856
300,576
-18,998 -484,507 -267,587 285,787
567,193

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-53.0564
-30.1854
24.9802
-1.8461 -44.4713
-31.7007 30.7888
303.4869

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD) 1,018,616
1,872,974
99
124,517 38,289
39,142 -215,239
271,210

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)
63.4324

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

579,660

41.0214

49.1669

0

5.6938

806,337

50.2220

10.6179 42.9420
83.7703 -44.5283

171,076 192,197
434,895 -926,696

12.5021 14.7328
34.8534 -35.8605

11.9895

4,008

14.2463

Material Aspects:
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 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.
Nasdaq PHLX (XPHL): 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 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.
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 American Options (AMXO): 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.

March 2020

S&P 500 Stocks

Summary
Non-Directed Orders as % of All Orders

Market Orders as % of Non-Directed Orders

99.07

0.16

Marketable Limit Orders as % of Non-
Directed Orders
34.83

Non-Marketable Limit Orders as % of Non-
Directed Orders
62.43

Other Orders as % of Non-Directed Orders
2.57

Venues
Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

Nasdaq Stock Market
(XNAS)
Goldman Sachs and
Co. LLC (GSCO)
IBKR ATS (IATS)
IEX (IEXG)
Citadel Securities
(CDED)
NYSE Arca (ARCX)
UBS ATS

32.04 25.90
8.33 4.62 4.16 3.87 3.45

2.98 0.00
0.00 0.00 32.82 0.00 0.00

9.22 1.01
22.44 11.28 10.32 3.68 9.91

45.02 40.93

28.00 0.00

0.83

0.00

1.09

0.36

0.80

0.38

4.14

0.00

0.00

0.00

-15 0
0 0 6,150 0 0

-7.4382 43.4460

-253,919 -682
0 -10,922 10,395 -115,531
0

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-24.8984
-2.0066
0.0000
-4.4787 2.7636
-28.8006
0.0000

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD) 680,714
489,915
0 -1,502 10,299
11,407 0

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)
25.4662

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

-23,591

-10.4988

15.6881

0

0.0000 -3.5397 27.7860
25.7908

0

-2

-8.4434

0

0.0000

0 0

Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

(UBSA)

New York

2.83

0.00

3.11

Stock

Exchange

(XNYS)

Virtu

2.66

11.33

4.92

Financial Inc.

(VIRT)

CBOE BZX

2.13

0.00

4.34

Exchange

(BATS)

CBOE BYX

2.11

0.00

1.19

Exchange

(BATY)

0.01

67.69

1.48

0.19

0.89

2.32

2.69

0.52

0 2,736
0 0

42.9922

-124,154 4,532
-118,789 4,087

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-28.5211
1.1587
-26.4574
4.3242

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD)
24
44,075
10,414
239

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

2.2147

-50,938

-16.9945

35.0338 17.9935 3.5128

0

0.0000

-161

-12.7575

-9

-13.5326

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.
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.
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.
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.
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.

March 2020
Non-S&P 500 Stocks

Summary
Non-Directed Orders as % of All Orders

Market Orders as % of Non-Directed Orders

98.07

0.12

Marketable Limit Orders as % of Non-
Directed Orders
33.67

Non-Marketable Limit Orders as % of Non-
Directed Orders
61.30

Other Orders as % of Non-Directed Orders
4.91

Venues
Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

Nasdaq Stock Market
(XNAS)
Goldman Sachs and
Co. LLC (GSCO)
NYSE Arca (ARCX)
IBKR ATS (IATS)
Citadel Securities
(CDED)
IEX (IEXD)
UBS ATS (UBSA)
CBOE EDGX Exchange
(EDGX)
CBOE BZX Exchange
(BATS)
New York Stock
Exchange (XNYS)
Virtu Financial Inc.
(VIRT)

34.61 19.10
9.03 5.27 4.36 4.11 3.69 3.10 3.09 2.57
2.28

1.53 0.00
0.00 0.00 27.05 0.00 0.00 0.00 0.01 0.01
10.01

10.42 0.35
6.05 14.81 11.67 10.98 10.95 5.04 3.91 2.69
5.07

47.46

40.75

-21

30.96

0.00

0

9.78

20.43

0.45

0.00

0.63

0.29

0.67

0.04

0.00

0.00

2.27

0.23

2.70

2.35

0.02

33.64

0 0 15,297
0 0 0
0
-0

0.90

0.26

8,062

-5.5962 38.5174
-10.0000 42.8440

-1,414,870 -2,101
-860,279 0
34,931 -32,092
0 -666,688 -412,892 -458,009
22,742

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-24.2410
-2.7833
-24.9177 0.0000 2.1260
-5.0256 0.0000 -23.1165
-26.7370
-26.5531
1.2298

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD) 3,028,282
1,203,295
341,845 0
22,794
-2,633 0
42,591
71,865
260
50,885

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)
21.0088

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

-47,660

-8.9609

14.1662

0

23.2848 0.0000 16.9971 -3.4972
6.7181 16.6342 3.4364

-34,072 0 0
-1 0 -461
-2,452
-77,762

-11.1683
0.0000 -5.0653 -15.6850 -12.1159 -14.3532

23.6412

0

0.0000

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.
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 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.
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.
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.

March 2020

Options

Summary
Non-Directed Orders as % of All Orders

Market Orders as % of Non-Directed Orders

99.89

0.07

Marketable Limit Orders as % of Non-
Directed Orders
3.10

Non-Marketable Limit Orders as % of Non-
Directed Orders
45.51

Other Orders as % of Non-Directed Orders
51.33

Venues
Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

NYSE Arca Options (ARCO)
Nasdaq Options Market (XNDQ)
Cboe EDGX Options Exchange (EDGO)
Nasdaq PHLX (XPHL)
CBOE C2 Exchange
(C2OX)
Nasdaq ISE (XISX)
Chicago Board Options
Exchange

18.55 15.90
13.37
12.15 9.74 9.63 7.76

31.75 0.24
0.10
1.58 7.08 25.90 10.62

4.02 11.56
10.42
11.57 2.95 4.77 12.47

22.79 34.14

15.65 0.00

7,615 -194

3.32

22.48

3

5.60

18.00

3.46

15.73

1.16

17.41

5.86

9.15

32 1,985
-2,637 -708

51.8820 -48.0000
13.0000
5.0647 37.0282 -20.0442 -27.9791

-182,564 -392,128
192,904
246,727 -266,312 -78,440 573,066

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
-56.4862
-32.5996
13.2587
26.6327 -44.4225
-15.4973 60.5431

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD) 1,269,412
3,166,912
64,319
174,397 63,495
97,459 -212,754

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)
63.0247

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

570,268

41.0873

51.5096

0

12.9468

1,139,750

49.1459

14.6935 42.6507
82.8817 -16.0550

188,687 369,984
442,139 -767,450

12.6345 30.8553
33.0766 -29.5956

Venue Non-directed Order Flow

NonDirected Orders (%)

Market Orders
(%)

Marketable Limit Orders
(%)

NonMarketable Limit Orders
(%)

Other Orders
(%)

Net Payment Paid/Received for
Market Orders(USD)

Net Payment Paid/ Received for Market
Orders(cents per hundred shares)

Net Payment Paid/ Received for
Marketable Limit Orders(USD)

(XCBO)

NYSE

3.70

1.05

1.29

7.59

0.41

76

American

Options

(AMXO)

12.0000

420,951

Net Payment Paid/ Received for
Marketable Limit Orders(cents per hundred shares)
346.4105

Net Payment Paid/ Received for NonMarketable Limit
Orders(USD)
212,650

Net Payment Paid/ Received for NonMarketable Limit Orders(cents per hundred shares)

Net Payment Paid/Received for
Other Orders(USD)

Net Payment Paid/ Received for Other Orders(cents per
hundred shares)

11.9887

6,152

11.9105

Material Aspects:
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 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.
Nasdaq PHLX (XPHL): 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 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.
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 American Options (AMXO): 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.
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