Wolverine Securities LLC:
Revenue that Robinhood Securities receives from the third-party market venues is shared pursuant to a fully-disclosed clearing agreement with Robinhood Financial LLC. The per share amounts represent the total amount of payments received by Robinhood Securities. Robinhood
Securities receives payment from Wolverine Securities LLC for directing equity order ow to this venue. The payment varied based upon a xed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution.
October 2020
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 Non-
Directed Orders
Non-Marketable Limit
Orders as % of Non-
Directed Orders
Other Orders as % of
Non-Directed Orders
100.00 26.50 24.78 10.85 37.87
Venues
Venue -
Non-
directed
Order Flow
Non-
Directed
Orders (%)
Market
Orders
(%)
Marketable
Limit Orders
(%)
Non-
Marketable
Limit Orders
(%)
Other
Orders
(%)
Net Payment
Paid/Received for
Market
Orders(USD)
Net Payment Paid/
Received for Market
Orders(cents per
hundred shares)
Net Payment Paid/
Received for
Marketable Limit
Orders(USD)
Net Payment Paid/
Received for
Marketable Limit
Orders(cents per
hundred shares)
Net Payment Paid/
Received for Non-
Marketable Limit
Orders(USD)
Net Payment Paid/
Received for Non-
Marketable 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)
Citadel
Execution
Services
45.14 32.19 31.71 35.06 65.89 2,463,173.35 23.8146 1,550,534.86 19.1145 327,576.59 21.6317 2,806,667.54 24.2989
Two Sigma
Securities,
LLC
18.19 26.88 28.02 25.64 3.56 1,111,584.76 25.6484 730,196.10 20.1565 146,136.82 20.8006 86,605.61 31.6872
G1X
Execution
Services,
LLC
16.92 27.63 26.66 25.59 0.58 1,665,318.64 35.2643 1,072,019.20 27.5428 222,410.05 27.0634 62,713.27 35.3752
Virtu
Americas,
LLC
16.55 8.13 8.60 8.77 29.86 980,535.13 22.0190 596,591.19 15.9920 148,384.92 18.8703 1,615,844.97 21.5036
Wolverine
Securities
LLC
3.19 5.18 5.01 4.94 0.11 618,764.84 18.7781 385,905.75 14.7439 91,123.97 17.5684 24,478.91 21.6037
Material Aspects:
Citadel Execution Services:
Revenue that Robinhood Securities receives from the third-party market venues is shared pursuant to a fully-disclosed clearing agreement with Robinhood Financial LLC. The per share amounts represent the total amount of payments received by Robinhood Securities. Robinhood
Securities receives payment from Citadel Execution Services for directing equity order ow to this venue. The payment varied based upon a xed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution.
Two Sigma Securities, LLC:
Revenue that Robinhood Securities receives from the third-party market venues is shared pursuant to a fully-disclosed clearing agreement with Robinhood Financial LLC. The per share amounts represent the total amount of payments received by Robinhood Securities. Robinhood
Securities receives payment from Two Sigma Securities, LLC for directing equity order ow to this venue. The payment varied based upon a xed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution.
G1X Execution Services, LLC:
Revenue that Robinhood Securities receives from the third-party market venues is shared pursuant to a fully-disclosed clearing agreement with Robinhood Financial LLC. The per share amounts represent the total amount of payments received by Robinhood Securities. Robinhood
Securities receives payment from G1 Execution Services, LLC for directing equity order ow to this venue. The payment varied based upon a xed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution.
Virtu Americas, LLC:
Revenue that Robinhood Securities receives from the third-party market venues is shared pursuant to a fully-disclosed clearing agreement with Robinhood Financial LLC. The per share amounts represent the total amount of payments received by Robinhood Securities. Robinhood
Securities receives payment from Virtu Americas, LLC for directing equity order ow to this venue. The payment varied based upon a xed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution.
Wolverine Securities LLC:
Revenue that Robinhood Securities receives from the third-party market venues is shared pursuant to a fully-disclosed clearing agreement with Robinhood Financial LLC. The per share amounts represent the total amount of payments received by Robinhood Securities. Robinhood
Securities receives payment from Wolverine Securities LLC for directing equity order ow to this venue. The payment varied based upon a xed percentage of the spread between the National Best Bid and National Best Offer for the security at the time of order execution.