Robinhood Securities, LLC - Held NMS Stocks and Options Order Routing Public Report
Generated on Thu Oct 27 2022 16:04:08 GMT-0400 (Eastern Daylight Time)

3rd Quarter, 2022

July 2022
S&P 500 Stocks
Summary
Non-Directed Orders
as % of All Orders

Market Orders as % of
Non-Directed Orders

Marketable Limit
Orders as % of NonDirected Orders

Non-Marketable Limit
Orders as % of NonDirected Orders

Other Orders as % of
Non-Directed Orders

100.00

26.48

16.23

9.16

48.13

Venues
Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

CITADEL
SECURITIES
LLC

50.75

44.81

44.31

46.76

56.94

122,343.09

27.6573

63,861.81

26.2261

10,861.21

Virtu
Americas,
LLC

35.93

29.67

30.33

28.68

42.65

101,496.48

77.0145

58,525.79

77.8161

Jane Street
Capital

7.67

14.72

15.05

13.70

0.16

103,846.96

62.9743

53,714.46

59.9718

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

20.9597245,334.30

62.3787

8,169.57

59.1102

185,015.31

123.9433

9,234.20

45.0797

2,612.46

62.7044

Material Aspects:
CITADEL SECURITIES LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
Virtu Americas, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
Jane Street Capital:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.

July 2022

20221028-2562744-8143312

Non-S&P 500 Stocks
Summary
Non-Directed Orders
as % of All Orders

Market Orders as % of
Non-Directed Orders

Marketable Limit
Orders as % of NonDirected Orders

Non-Marketable Limit
Orders as % of NonDirected Orders

Other Orders as % of
Non-Directed Orders

100.00

23.43

19.34

8.29

48.94

Venues
Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

CITADEL
SECURITIES
LLC

47.19

38.31

35.27

38.57

57.60

1,185,147.93

18.2388606,557.82

12.7642

108,849.89

Virtu
Americas,
LLC

33.28

25.01

25.34

25.17

41.76

605,292.25

17.1417318,363.06

10.6458

Jane Street
Capital

12.86

23.70

27.03

23.49

0.27

993,511.63

16.5846

512,004.87

10.5170

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

16.4084

1,487,267.10

14.590262,885.24

14.4003815,693.21

11.4371

95,637.39

14.9199

29,179.10

19.3668

Material Aspects:
CITADEL SECURITIES LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
Virtu Americas, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
Jane Street Capital:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.

July 2022
Options
Summary
Non-Directed Orders
as % of All Orders

Market Orders as % of
Non-Directed Orders

Marketable Limit
Orders as % of NonDirected Orders

Non-Marketable Limit
Orders as % of NonDirected Orders

Other Orders as % of
Non-Directed Orders

100.00

0.22

29.28

48.25

22.26

20221028-2562744-8143312

Venues
Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

CITADEL
SECURITIES LLC

35.16

36.95

35.56

35.48

33.94

34,253.70

56.7321

6,781,074.45

54.3783

4,078,423.80

Wolverine
Execution
Services, LLC

25.37

24.29

24.22

25.72

26.11

20,449.30

54.02154,275,093.75

51.8175

Global Execution
Brokers, LP

15.94

16.65

17.19

14.87

16.58

19,347.45

48.4037

4,118,746.45

MatrixExecutions,
LLC / Simplex
Trading, LLC

10.64

9.91

10.10

11.07

10.45

9,727.10

56.8703

Morgan Stanley& Co., LLC

8.97

8.89

9.06

8.89

9.02

9,372.25

50.6116

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

56.1962

1,165,503.65

51.14812,946,600.75

54.2253974,625.75

50.326449.4534

2,166,620.35

49.9668

690,601.30

46.2540

1,751,677.55

58.8249

1,128,393.15

60.3276375,587.00

56.9093

1,771,549.25

51.3960

1,044,284.65

53.2099409,300.45

48.5834

Material Aspects:
CITADEL SECURITIES LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Wolverine Execution Services, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Global Execution Brokers, LP:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Matrix Executions, LLC / Simplex Trading, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Morgan Stanley & Co., LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.

August 2022
S&P 500 Stocks
Summary
Non-Directed Orders
as % of All Orders

Market Orders as % of
Non-Directed Orders

Marketable Limit
Orders as % of NonDirected Orders

Non-Marketable Limit
Orders as % of NonDirected Orders

Other Orders as % of
Non-Directed Orders

100.00

26.40

16.71

8.92

47.96

Venues20221028-2562744-8143312

Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

CITADEL
SECURITIES
LLC

43.27

32.01

32.88

33.38

54.94

111,402.39

26.9585

59,724.83

25.8324

10,818.20

Virtu
Americas,
LLC

35.35

26.77

28.12

26.74

44.20

121,958.01

89.491376,459.03

92.9767

G1 Execution
Services, LLC

14.84

28.68

27.76

28.09

0.26

101,015.29

53.3368

56,683.31

53.9742

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

22.1562

243,619.66

61.9789

10,339.74

61.0105

201,205.20

131.5130

9,273.85

42.3382

3,659.64

67.4048

Material Aspects:
CITADEL SECURITIES LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
Virtu Americas, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
G1 Execution Services, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.

August 2022
Non-S&P 500 Stocks
Summary
Non-Directed Orders
as % of All Orders

Market Orders as % of
Non-Directed Orders

Marketable Limit
Orders as % of NonDirected Orders

Non-Marketable Limit
Orders as % of NonDirected Orders

Other Orders as % of
Non-Directed Orders

100.00

24.46

20.58

7.77

47.19

Venues
Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

CITADEL
SECURITIES
LLC

39.04

30.43

29.28

30.55

49.16

1,739,261.40

22.5469

981,810.21

17.4734

177,446.74

Virtu
Americas,
LLC

38.72

28.48

29.01

29.16

49.83

1,165,140.31

24.9343

651,411.74

17.2005

129,915.23

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

22.0871

2,603,078.48

21.422224.6590

1,774,440.40

19.408920221028-2562744-8143312

Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

Jane Street
Capital

11.92

21.57

23.25

22.19

0.29

1,525,575.05

22.8480

888,435.08

16.7404

166,086.54

G1 Execution
Services, LLC

5.23

10.19

9.44

9.49

0.12

420,139.38

16.5755

249,986.69

12.9684

41,033.21

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

22.2294

61,002.72

31.6785

14.2182

15,376.88

19.1045

Material Aspects:
CITADEL SECURITIES LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
Virtu Americas, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
Jane Street Capital:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
G1 Execution Services, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.

August 2022
Options
Summary
Non-Directed Orders
as % of All Orders

Market Orders as % of
Non-Directed Orders

Marketable Limit
Orders as % of NonDirected Orders

Non-Marketable Limit
Orders as % of NonDirected Orders

Other Orders as % of
Non-Directed Orders

100.00

0.06

31.87

47.90

20.17

Venues
Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

MatrixExecutions,
LLC / Simplex
Trading, LLC

29.18

31.73

27.78

30.39

28.49

4,510.65

62.1387

6,741,804.05

56.8252

3,898,851.80

CITADEL
SECURITIES LLC

18.81

18.35

19.62

18.28

18.81

4,119.65

51.8065

6,280,369.35

55.19033,488,042.30

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

58.9073

1,049,950.75

53.3426

56.8971997,102.25

51.202220221028-2562744-8143312

Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

Wolverine
Execution
Services, LLC

18.43

18.57

17.74

18.81

18.60

3,915.15

53.0508

4,570,727.80

54.3057

2,781,802.25

Dash/IMC
FinancialMarkets

14.79

10.57

15.20

14.56

14.70

2,196.45

67.1287

4,017,500.85

53.5768

Global Execution
Brokers, LP

10.82

12.63

11.49

10.14

11.36

3,927.65

44.9028

4,119,265.05

Morgan Stanley& Co., LLC

7.97

8.15

8.16

7.81

8.04

930.6547.7501

2,360,143.05

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

56.1426

839,184.40

51.3975

2,172,521.75

55.3041596,683.40

50.1837

51.1906

1,981,030.00

52.0014602,355.80

46.6566

52.3174

1,268,346.15

54.1075

430,369.40

47.6485

Material Aspects:
Matrix Executions, LLC / Simplex Trading, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
CITADEL SECURITIES LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Wolverine Execution Services, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Dash/IMC Financial Markets:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Global Execution Brokers, LP:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Morgan Stanley & Co., LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.

September 2022
S&P 500 Stocks
Summary
Non-Directed Orders
as % of All Orders

Market Orders as % of
Non-Directed Orders

Marketable Limit
Orders as % of NonDirected Orders

Non-Marketable Limit
Orders as % of NonDirected Orders

Other Orders as % of
Non-Directed Orders

100.00

26.17

19.05

8.83

45.95

Venues20221028-2562744-8143312

Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

CITADEL
SECURITIES
LLC

42.66

34.66

36.90

35.66

50.95

90,500.97

24.1267

52,948.12

22.6852

7,768.46

Virtu
Americas,
LLC

39.97

32.79

32.70

32.64

48.48

66,212.54

48.7150

38,276.70

45.6677

G1 Execution
Services, LLC

11.10

20.63

19.96

20.66

0.16

57,326.96

41.0079

31,932.50

37.9275

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

17.6648

160,326.15

51.5366

5,177.83

34.1368

133,497.44

105.8793

4,696.87

28.6378

1,769.19

42.5032

Material Aspects:
CITADEL SECURITIES LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
Virtu Americas, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
G1 Execution Services, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.

September 2022
Non-S&P 500 Stocks
Summary
Non-Directed Orders
as % of All Orders

Market Orders as % of
Non-Directed Orders

Marketable Limit
Orders as % of NonDirected Orders

Non-Marketable Limit
Orders as % of NonDirected Orders

Other Orders as % of
Non-Directed Orders

100.00

23.42

20.16

8.10

48.32

Venues
Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

Virtu
Americas,
LLC

39.32

28.53

28.33

29.31

50.82

534,343.15

20.6958

311,159.93

13.7756

61,044.91

CITADEL
SECURITIES
LLC

38.85

29.98

29.91

29.69

48.40

890,120.22

16.0674

518,389.45

11.9490

92,125.28

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

19.5185

854,370.16

16.2815

14.7614

1,288,281.34

15.107620221028-2562744-8143312

Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

Jane Street
Capital

11.75

21.46

23.86

22.19

0.24

900,303.82

20.6509513,811.63

13.7776

105,221.12

G1 Execution
Services, LLC

5.98

12.19

10.64

11.28

0.13

253,429.22

13.5105

152,285.72

9.886825,374.49

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

20.6497

37,957.96

29.3733

10.23099,365.12

13.5691

Material Aspects:
Virtu Americas, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
CITADEL SECURITIES LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
Jane Street Capital:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.
G1 Execution Services, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The amounts above represent payments received by Robinhood Securities. Robinhood Securities receives payment
from this venue for routing equity order flow to it. The payment varied based upon a fixed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution. The fixed percentage is the same for all non-exchange third-party
market centers to which Robinhood Securities routes equity order flow.

September 2022
Options
Summary
Non-Directed Orders
as % of All Orders

Market Orders as % of
Non-Directed Orders

Marketable Limit
Orders as % of NonDirected Orders

Non-Marketable Limit
Orders as % of NonDirected Orders

Other Orders as % of
Non-Directed Orders

100.00

0.03

32.54

46.87

20.55

Venues
Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

MatrixExecutions,
LLC / Simplex
Trading, LLC

35.79

38.42

34.00

37.75

34.17

2,738.85

60.8904

6,661,369.60

55.4046

3,763,742.40

Wolverine
Execution
Services, LLC

15.72

17.15

15.62

15.56

16.23

2,629.35

60.2924

3,376,682.55

50.4233

1,979,042.00

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

57.1824

1,096,540.00

52.3975

51.7807680,443.65

47.742020221028-2562744-8143312

Venue Non-directed
Order Flow

NonDirected
Orders (%)

MarketOrders(%)

Marketable
Limit Orders(%)

NonMarketable
Limit Orders
(%)

Other
Orders(%)

Net Payment
Paid/Received forMarketOrders(USD)

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

Net Payment Paid/
Received forMarketable Limit
Orders(USD)

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

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

CITADEL
SECURITIES LLC

15.68

14.42

15.99

15.35

15.95

5,927.50

73.6610

4,295,428.65

51.8633

2,481,235.25

Dash/IMC
FinancialMarkets

14.28

13.71

14.69

13.88

14.55

1,049.75

48.0655

3,337,342.20

48.4630

Global Execution
Brokers, LP

10.65

8.98

11.49

9.86

11.12

1,164.05

47.7461

3,096,323.20

Morgan Stanley& Co., LLC

7.88

7.31

8.21

7.61

7.99

597.2551.8897

1,900,480.15

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

Net Payment
Paid/Received for
Other
Orders(USD)

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

53.5260

833,478.10

48.3697

1,752,011.20

49.5740

594,573.65

45.199347.9655

1,499,829.00

48.0745548,587.45

44.639649.0287

1,013,796.45

50.3038

391,359.20

44.9586

Material Aspects:
Matrix Executions, LLC / Simplex Trading, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Wolverine Execution Services, LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
CITADEL SECURITIES LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Dash/IMC Financial Markets:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Global Execution Brokers, LP:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.
Morgan Stanley & Co., LLC:
Revenue that Robinhood Securities receives from third-party market centers is shared with Robinhood Financial LLC pursuant to a revenue and cost allocation agreement. The venues each pay Robinhood based on the same schedule. The schedules vary by groups of symbols. Differencesin average payments among venues are due to the mix of symbols executed at each venue.

With respect to each section of this report, provided pursuant to SEC Regulation NMS Rule 606(a), the SEC has exempted broker-dealers from disclosing execution venues that received less than 5% of the non-directed orders covered by the section,
provided that the section discloses the execution venues that, in aggregate, received at least 90% of such non-directed orders.
Prior reports, as well as the XML version of this report, can be found at: https://public.s3.com/rule606/hood/20221028-2562744-8143312