1.2 FIDELITY BROKERAGE SERVICES LLC 2025 04 2026-01-27T14:04:44Z 2025 10 97.88 56.08 6.44 36.74 0.73 New York Stock Exchange NYSE 15.17 0.00 0.90 30.63 0.00 0 0.0000 -920 -10.0670 9371 21.8366 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://www.nyse.com/publicdocs/nyse/markets/nyse/NYSE_Price_List.pdf Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NYSE tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9917551.html NASDAQ Stock Market NSDQ 14.87 0.00 1.87 29.92 0.00 -4 -14.2096 -1906 -15.2440 264348 31.9441 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Non-Marketable Limit orders routed to Nasdaq are generally attested as retail, meet the exchange’s definition of “Rebate to Add Displayed Designated Retail Liquidity”, and qualify for the base rebate rate. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://nasdaqtrader.com/Trader.aspx?id=PriceListTrading2 Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NSDQ tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9908838.html HRT FINANCIAL LP HRTF 13.36 19.61 14.33 7.67 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. National Financial Services LLC XSTM 13.02 26.44 21.60 0.00 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Marketable orders may be routed to FBS' affiliated broker-dealer NFS's Alternative Trading System, CrossStream, for potential execution at the mid-point or better of the National Best Bid and Offer (NBBO). FBS does not get charged an explicit fee or receive payment for order flow for orders executed in CrossStream​. NFS may receive a trading commission from the contra-side party against which the FBS order executed. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Citadel Securities LLC CDRG 12.27 14.99 21.34 8.48 54.53 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. G1 Execution Services, LLC ETMM 9.39 13.73 10.29 5.41 0.21 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. VIRTU Americas, LLC NITE 8.55 9.81 16.77 6.26 42.91 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Jane Street Capital, LLC JNST 4.72 6.72 5.72 2.84 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. UBS Securities, LLC UBSS 2.74 3.98 2.95 1.60 1.30 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Two Sigma Securities, LLC SOHO 2.45 3.54 2.68 1.44 1.05 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders 97.95 54.79 10.93 33.57 0.71 National Financial Services LLC XSTM 21.93 36.68 32.67 0.02 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Marketable orders may be routed to FBS' affiliated broker-dealer NFS's Alternative Trading System, CrossStream, for potential execution at the mid-point or better of the National Best Bid and Offer (NBBO). FBS does not get charged an explicit fee or receive payment for order flow for orders executed in CrossStream​. NFS may receive a trading commission from the contra-side party against which the FBS order executed. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. HRT FINANCIAL LP HRTF 12.13 16.37 12.62 6.55 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Citadel Securities LLC CDRG 11.58 12.58 16.65 8.50 53.48 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. NASDAQ Stock Market NSDQ 9.58 0.00 0.54 24.59 0.00 -52 -10.3504 -7471 -12.7593 1493347 28.6409 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Non-Marketable Limit orders routed to Nasdaq are generally attested as retail, meet the exchange’s definition of “Rebate to Add Displayed Designated Retail Liquidity”, and qualify for the base rebate rate. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://nasdaqtrader.com/Trader.aspx?id=PriceListTrading2 Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NSDQ tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9908838.html G1 Execution Services, LLC ETMM 8.44 11.37 8.70 4.63 0.15 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. VIRTU Americas, LLC NITE 8.21 8.19 13.28 6.55 44.26 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. New York Stock Exchange NYSE 5.98 0.00 0.26 15.36 0.00 -154 -18.1114 -2075 -10.1517 33391 18.1675 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://www.nyse.com/publicdocs/nyse/markets/nyse/NYSE_Price_List.pdf Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NYSE tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9917551.html NYSE Arca ARCA 5.37 0.00 0.44 13.74 0.00 -829 -23.9268 -1570 -6.5530 11650 15.0244 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/NYSE_Arca_Marketplace_Fees.pdf Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the ARCA tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9917551.html Jane Street Capital, LLC JNST 4.30 5.56 4.99 2.52 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Cboe EDGX US Equities Exchange EDGX 2.47 0.00 0.01 6.38 0.00 -27 -3.7374 -2 -0.5377 2248079 27.5155 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders may qualify for participation in the exchange’s “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Non-Marketable Limit orders routed to Cboe EDGX are generally attested as retail, meet the exchange’s definition of “Retail Order, adds liquidity”, and qualify for the base rebate rate. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://www.cboe.com/us/equities/membership/fee_schedule/edgx/ Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the EDGX tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9917551.html UBS Securities, LLC UBSS 2.46 3.30 2.51 1.37 1.23 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders 99.79 17.09 12.26 49.73 20.92 Citadel Securities LLC CDRG 32.08 35.38 32.40 34.53 22.80 1922325 29.0294 2226035 28.8829 5617547 46.0444 1032768 17.1120 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. Wolverine Execution Services LLC WEXX 23.38 6.30 9.33 27.53 32.46 198435 19.8915 365992 19.9468 3913639 43.8983 2450293 37.5963 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. Dash Financial Technologies LLC DASH 23.09 18.33 19.18 22.64 29.98 1002268 27.6146 1182771 26.9415 3242230 43.9397 2074687 35.0232 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. In connection with Dash Financial’s handling of retail listed option orders, Dash has arrangements with multiple unaffiliated liquidity providers, including IMC Chicago, designed to facilitate liquidity and price improvement opportunities. Pursuant to these arrangements, Dash routes listed option orders to exchanges and preferences the liquidity providers consistent with exchange sponsored programs. GLOBAL EXECUTION BROKERS, LP GEBB 15.11 28.96 26.27 10.53 11.16 1732882 29.9000 2019359 30.8600 1516725 41.4207 354394 13.5347 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. Jane Street Capital, LLC JNST 5.67 10.81 10.14 4.23 3.33 626368 29.1232 707466 28.7481 599822 43.3709 231848 33.4365 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. 2025 11 97.38 57.00 6.49 35.85 0.65 National Financial Services LLC XSTM 13.87 26.12 21.18 0.01 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Marketable orders may be routed to FBS' affiliated broker-dealer NFS's Alternative Trading System, CrossStream, for potential execution at the mid-point or better of the National Best Bid and Offer (NBBO). FBS does not get charged an explicit fee or receive payment for order flow for orders executed in CrossStream​. NFS may receive a trading commission from the contra-side party against which the FBS order executed. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. NASDAQ Stock Market NSDQ 12.67 0.00 1.70 27.67 0.00 -4 -15.0000 -942 -15.1888 181339 31.9873 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Non-Marketable Limit orders routed to Nasdaq are generally attested as retail, meet the exchange’s definition of “Rebate to Add Displayed Designated Retail Liquidity”, and qualify for the base rebate rate. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://nasdaqtrader.com/Trader.aspx?id=PriceListTrading2 Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NSDQ tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9908838.html New York Stock Exchange NYSE 12.42 0.00 0.72 27.22 0.00 0 0.0000 -530 -10.0327 7270 25.0417 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://www.nyse.com/publicdocs/nyse/markets/nyse/NYSE_Price_List.pdf Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NYSE tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9918912.html G1 Execution Services, LLC ETMM 12.22 16.61 12.46 7.61 0.01 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. HRT FINANCIAL LP HRTF 12.04 16.47 12.03 7.40 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Citadel Securities LLC CDRG 12.04 13.47 20.05 9.14 56.55 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. VIRTU Americas, LLC NITE 8.32 8.76 16.18 6.62 40.52 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Jane Street Capital, LLC JNST 5.95 7.92 6.71 3.81 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. UBS Securities, LLC UBSS 3.81 5.10 3.87 2.43 1.76 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Two Sigma Securities, LLC SOHO 3.28 4.38 3.37 2.10 1.16 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders 97.69 54.39 10.94 34.10 0.56 National Financial Services LLC XSTM 21.55 35.69 32.32 0.03 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Marketable orders may be routed to FBS' affiliated broker-dealer NFS's Alternative Trading System, CrossStream, for potential execution at the mid-point or better of the National Best Bid and Offer (NBBO). FBS does not get charged an explicit fee or receive payment for order flow for orders executed in CrossStream​. NFS may receive a trading commission from the contra-side party against which the FBS order executed. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Citadel Securities LLC CDRG 11.07 11.51 15.06 9.01 54.57 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. G1 Execution Services, LLC ETMM 10.70 14.02 10.78 6.35 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. HRT FINANCIAL LP HRTF 10.55 13.99 10.71 6.03 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. NASDAQ Stock Market NSDQ 8.96 0.00 0.60 23.21 0.00 -106 -15.6158 -4115 -10.1921 883902 29.0304 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Non-Marketable Limit orders routed to Nasdaq are generally attested as retail, meet the exchange’s definition of “Rebate to Add Displayed Designated Retail Liquidity”, and qualify for the base rebate rate. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://nasdaqtrader.com/Trader.aspx?id=PriceListTrading2 Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NSDQ tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9908838.html VIRTU Americas, LLC NITE 7.69 7.34 12.11 6.66 42.70 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. New York Stock Exchange NYSE 5.62 0.00 0.28 14.59 0.00 -15 -18.2424 -1566 -10.3750 21141 18.1988 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://www.nyse.com/publicdocs/nyse/markets/nyse/NYSE_Price_List.pdf Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NYSE tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9918912.html Jane Street Capital, LLC JNST 5.23 6.68 5.81 3.18 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. NYSE Arca ARCA 5.06 0.00 0.51 13.07 0.00 -111 -12.0589 -924 -6.1318 9502 19.0135 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/NYSE_Arca_Marketplace_Fees.pdf Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the ARCA tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9918912.html UBS Securities, LLC UBSS 3.32 4.31 3.21 2.05 1.81 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Two Sigma Securities, LLC SOHO 2.88 3.73 2.90 1.78 0.84 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders 99.78 18.29 10.89 45.47 25.35 Citadel Securities LLC CDRG 33.38 38.00 34.88 35.80 24.57 1695728 29.0356 1686657 28.5852 4203340 46.5425 1058983 20.2992 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. Wolverine Execution Services LLC WEXX 22.35 5.27 8.65 26.53 30.58 101901 15.9319 173182 15.4243 2626264 42.7976 1841495 39.1703 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. Dash Financial Technologies LLC DASH 22.22 17.44 18.14 20.48 30.73 730361 26.9038 707381 25.0961 1955893 41.5054 1572456 34.8877 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. In connection with Dash Financial’s handling of retail listed option orders, Dash has arrangements with multiple unaffiliated liquidity providers, including IMC Chicago, designed to facilitate liquidity and price improvement opportunities. Pursuant to these arrangements, Dash routes listed option orders to exchanges and preferences the liquidity providers consistent with exchange sponsored programs. GLOBAL EXECUTION BROKERS, LP GEBB 11.70 24.54 21.67 6.92 9.10 1166880 29.7520 1119895 30.2472 664780 38.5100 124296 7.8498 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. Jane Street Capital, LLC JNST 9.70 14.57 13.82 9.71 4.77 687275 29.2203 674329 28.5032 1062469 45.9901 262341 33.1516 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. 2025 12 97.32 57.62 6.51 35.15 0.72 National Financial Services LLC XSTM 13.93 25.84 24.18 0.01 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Marketable orders may be routed to FBS' affiliated broker-dealer NFS's Alternative Trading System, CrossStream, for potential execution at the mid-point or better of the National Best Bid and Offer (NBBO). FBS does not get charged an explicit fee or receive payment for order flow for orders executed in CrossStream​. NFS may receive a trading commission from the contra-side party against which the FBS order executed. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. NASDAQ Stock Market NSDQ 13.37 0.00 1.21 29.36 0.00 -748 -14.5049 -736 -15.1336 187903 32.0547 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Non-Marketable Limit orders routed to Nasdaq are generally attested as retail, meet the exchange’s definition of “Rebate to Add Displayed Designated Retail Liquidity”, and qualify for the base rebate rate. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://nasdaqtrader.com/Trader.aspx?id=PriceListTrading2 Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NSDQ tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9908838.html New York Stock Exchange NYSE 12.37 0.00 0.74 27.20 0.00 0 0.0000 -476 -10.1394 7442 23.5585 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://www.nyse.com/publicdocs/nyse/markets/nyse/NYSE_Price_List.pdf Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NYSE tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9918915.html G1 Execution Services, LLC ETMM 11.63 16.01 12.07 7.00 0.01 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. VIRTU Americas, LLC NITE 11.20 13.35 17.17 7.87 40.12 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Citadel Securities LLC CDRG 10.29 12.11 16.46 7.11 56.46 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. HRT FINANCIAL LP HRTF 9.43 12.98 9.43 5.72 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Jane Street Capital, LLC JNST 7.96 10.42 9.76 5.18 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. UBS Securities, LLC UBSS 3.21 4.33 3.37 2.00 2.28 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Two Sigma Securities, LLC SOHO 2.70 3.63 2.84 1.69 1.13 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders 96.93 53.75 12.35 33.28 0.62 National Financial Services LLC XSTM 21.04 34.45 32.24 0.02 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 Marketable orders may be routed to FBS' affiliated broker-dealer NFS's Alternative Trading System, CrossStream, for potential execution at the mid-point or better of the National Best Bid and Offer (NBBO). FBS does not get charged an explicit fee or receive payment for order flow for orders executed in CrossStream​. NFS may receive a trading commission from the contra-side party against which the FBS order executed. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. VIRTU Americas, LLC NITE 10.64 11.63 14.70 7.77 43.48 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. G1 Execution Services, LLC ETMM 10.44 13.79 11.05 5.90 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Citadel Securities LLC CDRG 9.82 10.60 13.54 7.22 53.62 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. NASDAQ Stock Market NSDQ 9.24 0.00 0.51 24.28 0.00 -33 -2.2010 -4467 -10.5637 945565 28.7155 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Non-Marketable Limit orders routed to Nasdaq are generally attested as retail, meet the exchange’s definition of “Rebate to Add Displayed Designated Retail Liquidity”, and qualify for the base rebate rate. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://nasdaqtrader.com/Trader.aspx?id=PriceListTrading2 Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NSDQ tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9908838.html HRT FINANCIAL LP HRTF 8.43 11.13 8.99 4.75 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Jane Street Capital, LLC JNST 7.30 8.98 8.85 4.65 0.00 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. New York Stock Exchange NYSE 5.54 0.00 0.24 14.57 0.00 -47 -11.0856 -1876 -9.9271 27560 17.6387 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://www.nyse.com/publicdocs/nyse/markets/nyse/NYSE_Price_List.pdf Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the NYSE tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9918915.html NYSE Arca ARCA 4.73 0.00 0.37 12.38 0.00 -24 -9.7385 -976 -6.5215 11984 21.4757 0 0.0000 FBS, through its affiliated broker-dealer NFS, incurs fees or receives rebates for orders executed on specific equities exchanges. FBS orders generally meet the exchange’s definition of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. Rebates are for limit orders required to be displayed on exchange. Economics associated with Market orders, Marketable Limit orders and Other orders may represent a variety of different interaction types on the exchange, including but not limited to: participating in the exchange’s opening or closing auction; displaying limit orders on the exchange; and removing liquidity on the exchange. The per-share economics described on this report represent a mix of interactions on the exchange. Fees and rebates are set by exchange rules, subject to SEC approval, and are non-negotiable. Visit exchange websites directly for detailed price lists: https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/NYSE_Arca_Marketplace_Fees.pdf Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders. Information reflecting the ARCA tiered pricing/payment schedule, as applicable to NFSC, can be found at: https://clearingcustody.fidelity.com/app/literature/item/9918915.html UBS Securities, LLC UBSS 2.87 3.74 2.89 1.71 1.98 0 0.0000 0 0.0000 0 0.0000 0 0.0000 FBS, through its affiliated broker-dealer NFS, does not receive payment for order flow ​or have a profit-sharing arrangement related to any order flow routed to wholesale market-makers, including marketable equity orders (i.e. market and marketable limit orders), non-marketable limit orders, all-or-none (AON) orders, stop orders, and other special order types. FBS orders generally meet the exchange definitions of retail, and as such FBS, through its affiliated broker-dealer NFS, attests that its retail order flow is eligible for any exchange economics or order handling associated with that designation. In addition, some FBS orders qualify for participation in the Cboe EDGX exchange “retail priority” program, and as such FBS, through its affiliated broker-dealer NFS, attests that those orders are eligible for order handling associated with that designation. Orders to each venue are categorized as “market”, “limit” or “other” based on the parameters of the order placed by the customer. Limit orders are categorized as “marketable limit” and “non-marketable limit” based on the market conditions at the time the order is routed. Orders categorized as “Other” include special order types including, but not limited to, stop orders and All or None (AON) orders 99.79 19.63 10.01 41.91 28.44 Citadel Securities LLC CDRG 31.49 37.50 34.28 33.46 23.13 1827158 29.2076 1660917 28.6555 3874614 45.7249 1045070 19.0186 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. Wolverine Execution Services LLC WEXX 23.80 5.47 9.52 27.94 32.92 127925 16.8501 169098 13.8039 2720683 41.8945 2050610 38.1650 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. Dash Financial Technologies LLC DASH 21.28 17.54 18.03 19.13 28.65 816568 27.4079 717309 25.1983 1827303 41.2789 1569322 32.5175 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. In connection with Dash Financial’s handling of retail listed option orders, Dash has arrangements with multiple unaffiliated liquidity providers, including IMC Chicago, designed to facilitate liquidity and price improvement opportunities. Pursuant to these arrangements, Dash routes listed option orders to exchanges and preferences the liquidity providers consistent with exchange sponsored programs. Jane Street Capital, LLC JNST 12.57 18.74 17.48 12.28 7.48 979925 29.4419 880621 28.8993 1376981 46.5116 481342 32.7278 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers. GLOBAL EXECUTION BROKERS, LP GEBB 10.33 20.59 18.13 6.70 7.62 1038131 29.3551 894863 28.8477 563310 35.3605 38938 2.4493 FBS, through its affiliated broker-dealer NFS, receives payment for order flow on multi-leg and single-leg option orders routed to market makers. For multi-leg options orders the payment rate is between $0.40 and $0.48 per contract. For marketable single-leg option orders the payment rate is between $0.30 and $0.40 per contract. For non-marketable single-leg option orders the payment rate is between $0.40 and $0.50 per contract. All market makers pay the same rate for any given order flow type. Neither NFS, nor FBS, consider payment as a condition for sending more order flow to a market maker. Options markets are structurally different from equities markets. Options orders require the use of specialized options brokers to deliver price improvement, all options trades must occur on an exchange and are subject to exchange pricing schedules. Options orders in some securities, such as index options, or orders from customers designated as Professional Customers, incur execution costs rather than rebates, and options brokers pass through those execution costs to NFS. Index options may be routed to options brokers with different allocations than non-index options, and as such, the per-contract fees and rebates may look materially different across options brokers.