1.2 RQD* Clearing LLC 2025 3 2025-10-31T13:55:00Z 2025 7 100.00 55.55 6.61 34.79 3.05 Virtu Americas LLC NITE 39.11 52.29 29.14 19.10 48.98 570.5220 16.5143 3.3040 13.7152 72.0288 29.7111 0.032 0.0011 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Virtu Americas LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Virtu and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Virtu Americans LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Virtu Americas LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Virtu’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Virtu Americas LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Virtu Americas LLC. Two Sigma Securities LLC SOHO 7.49 6.88 6.70 9.24 0.14 425.89 20.0000 144.68 20.0000 701.27 31.8480 0.0008 20.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Two Sigma Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Two Sigma and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Two Sigma Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Two Sigma Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Two Sigma’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Two Sigma Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Two Sigma Securities LLC. Jane Street Capital LLC JNST 37.03 26.18 49.85 50.71 50.71 1504.00 20.0000 468.59 20.0000 2278.59 31.9626 0.01 0.3149 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Jane Street Capital LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 rebate of .0015 notional amount of the trade (15 basis points) D. US listed Security (NMS) marketable (remove liquidity) order executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) There is a potential conflict inherent to a market maker such as Jane Street both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly, from such anticipated profit a market maker such as Jane Street can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market makers (such as Jane Street) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Jane Street Capital, LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Jane Street Capital, LLC. Citadel Securities LLC CDRG 12.54 11.50 10.29 15.72 0.06 543.44 20.0000 115.16 20.0000 634.61 31.9850 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Citadel Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Citadel and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Citadel Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Citadel Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Citadel’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Citadel Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Citadel Securities LLC. GTS Securities LLC GTSM 3.83 3.15 4.02 5.23 0.11 874.78 20.0000 231.32 20.0000 1261.04 32.0000 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. GTS Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. Extended hours orders routed to GTS and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as GTS Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as GTS Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as GTS’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and GTS Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to GTS Securities LLC. 100.00 28.87 15.08 52.30 3.75 Virtu Americas LLC NITE 18.11 14.63 22.63 16.48 49.52 25033.17 19.7493 543.07 17.3427 8219.96 31.7217 0.80 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Virtu Americas LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Virtu and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Virtu Americans LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Virtu Americas LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Virtu’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Virtu Americas LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Virtu Americas LLC. Two Sigma Securities LLC SOHO 9.93 11.86 8.43 9.99 0.06 48175.92 19.8995 30622.58 5.3239 78120.20 11.6970 106.00 2.4136 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Two Sigma Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Two Sigma and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Two Sigma Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Two Sigma Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Two Sigma’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Two Sigma Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Two Sigma Securities LLC. Jane Street Capital LLC JNST 46.21 45.13 46.08 46.57 50.12 53299.06 19.9635 51772.93 11.7627 127871.37 21.3924 0.10 20.0000 RQD* Clearing, LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Jane Street Capital LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 rebate of .0015 notional amount of the trade (15 basis points) D. US listed Security (NMS) marketable (remove liquidity) order executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) There is a potential conflict inherent to a market maker such as Jane Street both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing, LLC customer orders. Accordingly from such anticipated profit a market maker such as Jane Street can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market makers (such as Jane Street) anticipated profit must be allocated among these three sub-categories, such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Jane Street Capital, LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Jane Street Capital, LLC. Citadel Securities LLC CDRG 14.15 19.09 10.74 13.41 0.13 46609.45 19.9194 33104.18 3.8268 634.61 31.9850 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Citadel Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Citadel and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Citadel Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Citadel Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Citadel’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Citadel Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Citadel Securities LLC. GTS Securities LLC GTSM 11.60 9.29 12.12 13.55 0.17 78328.83 19.9310 47332.17 5.5570 136172.86 11.8245 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. GTS Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. Extended hours orders routed to GTS and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as GTS Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as GTS Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as GTS’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and GTS Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to GTS Securities LLC. 100.00 0.29 3.69 21.72 74.30 Jane Street Capital LLC JNST 52.05 53.85 57.64 59.00 49.74 3.50 50.0000 232.00 50.0000 440.00 50.0000 2287.46 44.9315 RQD* Clearing LLC routes customer orders in NMS securities that are options contracts to Jane Street Capital, LLC (JNST) to facilitate the execution of and price improvement of client orders. Non-exchange third-party market centers compete for orders based on execution quality. There is a potential conflict inherent to a market maker such as Jane Street Capital, LLC both paying for order flow and providing price improvement, as the potential source of funds for each is the same, namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD Clearing, LLC orders. Jane Street Capital, LLC generates revenue from executing or facilitating the execution of RQD* Clearing, LLC customer orders. In exchange for such routing, RQD* Clearing LLC receives payment from Jane Street Capital, LLC (i.e. payment for order flow) in the amounts outlined in the above report and detailed below. 0.50 per contract for executed contracts on non-index options Exchange fees are passed back to RQD* Clearing LLC on Index Options This is for marketable and non-marketable orders. Furthermore, RQD* Clearing LLC and Jane Street Capital, LLC do not have any arrangements: A. that requires RQD* Clearing, LLC to meet specific volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds. B. that requires RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds. C. for volume-based tiered payment schedules; or D. that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Jane Street Capital, LLC. No rebate is paid to RQD* Clearing LLC on sub-penny option contracts. Dash/IMC Financial Markets DFIN 27.05 23.07 31.18 31.00 25.70 3.00 50.0000 149.50 50.0000 186.50 50.0000 1253.86 23.7745 RQD* Clearing LLC routes customer orders in NMS securities that are options contracts to Dash/IMC Financial Markets (DFIN) to facilitate the execution of and price improvement of client orders. Non-exchange third-party market centers compete for orders based on execution quality. There is a potential conflict inherent to a market maker such as Dash/IMC Financial Markets both paying for order flow and providing price improvement, as the potential source of funds for each is the same, namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD Clearing, LLC orders. Dash/IMC Financial Markets generates revenue from executing or facilitating the execution of RQD* Clearing, LLC customer orders. In exchange for such routing, RQD* Clearing LLC receives payment from Dash/IMC Financial Markets (i.e. payment for order flow) in the amounts outlined in the above report and detailed below. 0.50 per contract for executed contracts on non-index options Exchange fees are passed back to RQD* Clearing LLC on Index Options This is for marketable and non-marketable orders. Furthermore, RQD* Clearing LLC and Dash/IMC Financial Markets do not have any arrangements: A. that requires RQD* Clearing, LLC to meet specific volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds. B. that requires RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds. C. for volume-based tiered payment schedules; or D. that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Dash/IMC Financial Markets. No rebate is paid to RQD* Clearing LLC on sub-penny option contracts. Citadel Securities LLC CDRG 20.90 23.08 11.18 10.00 24.56 3.00 50.0000 44.50 50.0000 53.50 50.0000 2665.06 48.6857 RQD* Clearing LLC routes customer orders in NMS securities that are options contracts to Citadel Securities LLC (CDRG) to facilitate the execution of and price improvement of client orders. Non-exchange third-party market centers compete for orders based on execution quality. There is a potential conflict inherent to a market maker such as Citadel Securities LLC both paying for order flow and providing price improvement, as the potential source of funds for each is the same, namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD Clearing, LLC orders. Citadel Securities LLC generates revenue from executing or facilitating the execution of RQD* Clearing, LLC customer orders. In exchange for such routing, RQD* Clearing LLC receives payment from Citdel Securities LLC (i.e. payment for order flow) in the amounts outlined in the above report and detailed below. 0.50 per contract for executed contracts on non-index options Exchange fees are passed back to RQD* Clearing LLC on Index Options This is for marketable and non-marketable orders. Furthermore, RQD* Clearing LLC and Citadel Securities LLC do not have any arrangements: A. that requires RQD* Clearing, LLC to meet specific volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds. B. that requires RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds. C. for volume-based tiered payment schedules; or D. that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Citadel Securities LLC. No rebate is paid to RQD* Clearing LLC on sub-penny option contracts. 2025 8 100.00 57.13 5.57 33.30 4.00 Virtu Americas LLC NITE 33.36 41.54 25.73 18.88 47.49 360.76 15.2188 .01 0.2136 64.15 29.0775 .08 0.0003 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Virtu Americas LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Virtu and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Virtu Americans LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Virtu Americas LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Virtu’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Virtu Americas LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Virtu Americas LLC. Two Sigma Securities LLC SOHO 7.99 7.23 8.50 10.15 0.00 1042.39 20.0000 216.79 20.0000 669.85 31.7443 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Two Sigma Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Two Sigma and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Two Sigma Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Two Sigma Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Two Sigma’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Two Sigma Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Two Sigma Securities LLC. Jane Street Capital LLC JNST 35.36 25.19 46.82 49.18 49.79 2075.69 20.0000 554.44 20.0000 2144.41 31.9776 .00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Jane Street Capital LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders equal to or over $1 per share rebate of .0032 per share B. US listed Security (NMS) marketable (remove liquidity) order equal to or over $1 per share rebate of .0020 per share C. US listed Security (NMS) non-marketable (add liquidity) orders under $1 rebate of .0015 notional amount of the trade (15 basis points) D. US listed Security (NMS) marketable (remove liquidity) order under $1 per share rebate of .0010 notional amount of the trade (10 basis points) There is a potential conflict inherent to a market maker such as Jane Street both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Jane Street can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market makers (such as Jane Street) anticipated profit must be allocated among these three sub-categories, such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Jane Street Capital, LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Jane Street Capital, LLC. Citadel Securities LLC CDRG 18.24 21.77 12.02 15.42 0.00 868.73 20.0203 110.17 19.9999 522.68 31.9832 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Citadel Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Citadel and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Citadel Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Citadel Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Citadel’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Citadel Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Citadel Securities LLC. GTS Securities LLC GTSM 1.24 1.10 1.29 1.63 0.00 373.99 20.0000 110.39 20.0000 304.28 20.0000 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. GTS Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. Extended hours orders routed to GTS and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as GTS Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as GTS Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as GTS’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and GTS Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to GTS Securities LLC. LAMPOST CAPITAL LC LAMP 3.81 3.17 5.64 4.74 2.72 143.68 20.0000 28.62 15.4083 77.59 21.9786 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. LAMPOST CAPITAL L.C. paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 rebate of .0015 notional amount of the trade (15 basis points) D. US listed Security (NMS) marketable (remove liquidity) order executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) E. Extended hours orders routed to LAMPOST CAPITAL L.C. and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a Firm such as LAMPOST CAPITAL L.C. both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing, LLC customer orders. Accordingly from such anticipated profit a Firm such as LAMPOST can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. Firms (such as LAMPOST CAPITAL) anticipated profit must be allocated among these three sub-categories, such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and LAMPOST CAPITAL L.C. do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to LAMPOST CAPITAL L.C. LAMPOST CAPITAL L.C. is a clearing client of RQD* Clearing, LLC 100.00 34.23 13.25 47.94 4.58 Virtu Americas LLC NITE 16.17 10.78 20.69 15.73 48.07 26083.72 19.7977 291.55 18.9198 5724.72 21.2968 0.10 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Virtu Americas LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Virtu and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Virtu Americans LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Virtu Americas LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Virtu’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Virtu Americas LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Virtu Americas LLC. Two Sigma Securities LLC SOHO 12.14 12.34 11.41 13.35 0.04 69179.66 19.9515 41207.55 6.3124 106455.36 13.1818 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Two Sigma Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Two Sigma and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Two Sigma Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Two Sigma Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Two Sigma’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Two Sigma Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Two Sigma Securities LLC. Jane Street Capital LLC JNST 44.61 38.52 46.08 48.15 48.71 87032.99 19.9787 73782.17 11.1116 176813.53 19.0987 1.80 16.3636 RQD* Clearing, LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Jane Street Capital LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 rebate of .0015 notional amount of the trade (15 basis points) D. US listed Security (NMS) marketable (remove liquidity) order executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) There is a potential conflict inherent to a market maker such as Jane Street both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing, LLC customer orders. Accordingly from such anticipated profit a market maker such as Jane Street can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market makers (such as Jane Street) anticipated profit must be allocated among these three sub-categories, such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Jane Street Capital, LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Jane Street Capital, LLC. Citadel Securities LLC CDRG 18.29 30.51 10.83 13.36 0.06 48219.91 19.9211 34890.68 4.7252 83802.77 10.5314 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Citadel Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Citadel and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Citadel Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Citadel Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Citadel’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Citadel Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Citadel Securities LLC. GTS Securities LLC GTSM 3.04 2.01 3.81 3.86 0.00 21373.90 19.9820 14929.70 5.5654 37042.74 11.8344 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. GTS Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. Extended hours orders routed to GTS and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as GTS Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as GTS Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as GTS’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and GTS Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to GTS Securities LLC. LAMPOST CAPITAL LC LAMP 5.75 5.84 7.18 5.55 3.12 8921.94 19.9991 4693.81 6.1799 12482.42 11.8893 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. LAMPOST CAPITAL L.C. paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 rebate of .0015 notional amount of the trade (15 basis points) D. US listed Security (NMS) marketable (remove liquidity) order executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) E. Extended hours orders routed to LAMPOST CAPITAL L.C. and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a Firm such as LAMPOST CAPITAL L.C. both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing, LLC customer orders. Accordingly from such anticipated profit a Firm such as LAMPOST can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. Firms (such as LAMPOST CAPITAL) anticipated profit must be allocated among these three sub-categories, such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and LAMPOST CAPITAL L.C. do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to LAMPOST CAPITAL L.C. LAMPOST CAPITAL L.C. is a clearing client of RQD* Clearing, LLC 100.00 0.50 3.31 24.64 71.55 Jane Street Capital LLC JNST 43.07 27.59 65.44 68.86 33.26 -129.85 58.7556 391.50 50.0000 593.00 50.0000 479.85 18.1625 RQD* Clearing LLC routes customer orders in NMS securities that are options contracts to Jane Street Capital, LLC (JNST) to facilitate the execution of and price improvement of client orders. Non-exchange third-party market centers compete for orders based on execution quality. There is a potential conflict inherent to a market maker such as Jane Street Capital, LLC both paying for order flow and providing price improvement, as the potential source of funds for each is the same, namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD Clearing, LLC orders. Jane Street Capital, LLC generates revenue from executing or facilitating the execution of RQD* Clearing, LLC customer orders. In exchange for such routing, RQD* Clearing LLC receives payment from Jane Street Capital, LLC (i.e. payment for order flow) in the amounts outlined in the above report and detailed below. 0.50 per contract. Exchange fees are passed back to RQD* Clearing LLC on Index Options This is for marketable and non-marketable orders. Furthermore, RQD* Clearing LLC and Jane Street Capital, LLC do not have any arrangements: A. that requires RQD* Clearing, LLC to meet specific volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds. B. that requires RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds. C. for volume-based tiered payment schedules; or D. that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Jane Street Capital, LLC. No rebate is paid to RQD* Clearing LLC on sub-penny option contracts Dash/IMC Financial Markets DFIN 21.32 51.72 23.04 19.96 21.50 8.00 50.0000 157.00 50.0000 108.00 50.0000 217.98 8.2947 RQD* Clearing LLC routes customer orders in NMS securities that are options contracts to Dash/IMC Financial Markets (DFIN) to facilitate the execution of and price improvement of client orders. Non-exchange third-party market centers compete for orders based on execution quality. There is a potential conflict inherent to a market maker such as Dash/IMC Financial Markets both paying for order flow and providing price improvement, as the potential source of funds for each is the same, namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD Clearing, LLC orders. Dash/IMC Financial Markets generates revenue from executing or facilitating the execution of RQD* Clearing, LLC customer orders. In exchange for such routing, RQD* Clearing LLC receives payment from Dash/IMC Financial Markets (i.e. payment for order flow) in the amounts outlined in the above report and detailed below. 0.50 per contract for executed contracts on non-index options Exchange fees are passed back to RQD* Clearing LLC on Index Options This is for marketable and non-marketable orders. Furthermore, RQD* Clearing LLC and Dash/IMC Financial Markets do not have any arrangements: A. that requires RQD* Clearing, LLC to meet specific volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds. B. that requires RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds. C. for volume-based tiered payment schedules; or D. that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Dash/IMC Financial Markets. No rebate is paid to RQD* Clearing LLC on sub-penny option contracts. Citadel Securities LLC CDRG 35.61 20.69 11.52 11.18 45.24 -75.70 -57.3484 83.50 50.0000 88.50 50.0000 613.47 16.3592 RQD* Clearing LLC routes customer orders in NMS securities that are options contracts to Citadel Securities LLC (CDRG) to facilitate the execution of and price improvement of client orders. Non-exchange third-party market centers compete for orders based on execution quality. There is a potential conflict inherent to a market maker such as Citadel Securities LLC both paying for order flow and providing price improvement, as the potential source of funds for each is the same, namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD Clearing, LLC orders. Citadel Securities LLC generates revenue from executing or facilitating the execution of RQD* Clearing, LLC customer orders. In exchange for such routing, RQD* Clearing LLC receives payment from Citdel Securities LLC (i.e. payment for order flow) in the amounts outlined in the above report and detailed below. 0.50 per contract for executed contracts on non-index options Exchange fees are passed back to RQD* Clearing LLC on Index Options This is for marketable and non-marketable orders. Furthermore, RQD* Clearing LLC and Citadel Securities LLC do not have any arrangements: A. that requires RQD* Clearing, LLC to meet specific volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds. B. that requires RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds. C. for volume-based tiered payment schedules; or D. that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Citadel Securities LLC. No rebate is paid to RQD* Clearing LLC on sub-penny option contracts. 2025 9 100.00 61.42 6.13 29.62 2.83 Virtu Americas LLC NITE 13.96 11.80 21.72 14.59 35.01 965.02 19.1343 .25 2.0275 60.36 28.4375 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Virtu Americas LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Virtu and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Virtu Americans LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Virtu Americas LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Virtu’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Virtu Americas LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Virtu Americas LLC. Two Sigma Securities LLC SOHO 5.90 4.73 5.65 8.96 0.00 729.51 20.0000 241.32 20.0000 955.50 31.6571 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Two Sigma Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Two Sigma Securities and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Two Sigma Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Two Sigma Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Two Sigma’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Two Sigma Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Two Sigma Securities LLC. Jane Street Capital LLC JNST 26.06 17.35 35.55 40.95 38.68 938.73 20.0000 228.16 11.3789 1038.21 21.9880 1.29 20.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Jane Street Capital LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 rebate of .0015 notional amount of the trade (15 basis points) D. US listed Security (NMS) marketable (remove liquidity) order executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) F. Extended hours orders routed to Jane Streeet Capital LLC and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Jane Street both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing, LLC customer orders. Accordingly from such anticipated profit a market maker such as Jane Street can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market makers (such as Jane Street) anticipated profit must be allocated among these three sub-categories, such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Jane Street Capital, LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Jane Street Capital, LLC. Citadel Securities LLC CDRG 41.58 60.40 8.50 13.60 0.00 709.77 19.7950 137.29 20.0000 641.46 31.9822 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Citadel Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Citadel and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Citadel Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Citadel Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Citadel’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Citadel Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Citadel Securities LLC. LAMPOST CAPITAL LC LAMP 12.50 5.72 28.58 21.90 26.31 1758.72 20.0000 457.83 20.0000 1757.70 27.2049 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. LAMPOST CAPITAL L.C. paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 rebate of .0015 notional amount of the trade (15 basis points) D. US listed Security (NMS) marketable (remove liquidity) order executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) F. Extended hours orders routed to LAMPOST CAPITAL L.C. and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a Firm such as LAMPOST CAPITAL L.C. both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing, LLC customer orders. Accordingly from such anticipated profit a Firm such as LAMPOST can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. Firms (such as LAMPOST CAPITAL) anticipated profit must be allocated among these three sub-categories, such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and LAMPOST CAPITAL L.C. do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to LAMPOST CAPITAL L.C. LAMPOST CAPITAL L.C. is a clearing client of RQD* Clearing, LLC 100.00 35.29 16.09 44.33 4.29 Virtu Americas LLC NITE 13.55 11.43 14.06 13.03 34.30 70319.05 19.8698 96.43 16.2972 4233.98 29.5073 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Virtu Americas LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Virtu and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Virtu Americans LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Virtu Americas LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Virtu’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Virtu Americas LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Virtu Americas LLC. Two Sigma Securities LLC SOHO 7.50 7.22 6.55 8.78 0.02 55694.83 19.9898 44573.94 6.2760 95622.96 11.9265 65.71 0.4927 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Two Sigma Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Two Sigma and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Two Sigma Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Two Sigma Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Two Sigma’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Two Sigma Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Two Sigma Securities LLC. Jane Street Capital LLC JNST 28.82 22.55 27.52 33.18 40.30 36387.04 19.9967 18088.34 3.8813 52894.41 9.1835 23.67 20.0142 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Jane Street Capital LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 rebate of .0015 notional amount of the trade (15 basis points) D. US listed Security (NMS) marketable (remove liquidity) order executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) F. Extended hours orders routed to Jane Streeet Capital LLC and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Jane Street both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing, LLC customer orders. Accordingly from such anticipated profit a market maker such as Jane Street can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market makers (such as Jane Street) anticipated profit must be allocated among these three sub-categories, such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Jane Street Capital, LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Jane Street Capital, LLC. Citadel Securities LLC CDRG 19.76 41.25 6.57 9.36 0.04 41143.57 19.9626 31635.15 4.9718 68182.93 10.2829 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. Citadel Securities LLC paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share and execution quantity is equal to or greater than one share. B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share and execution quantity is equal to or greater than one share. C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 a rebate of .0015 notional amount of the trade (15 basis points) and execution quantity is equal to or greater than one share. D. US listed Security (NMS) marketable (remove liquidity) orders executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) and execution quantity is equal to or greater than one share. E. US listed (NMS) securities executions less than one share are executed without a rebate and without a cost to RQD Clearing LLC. F. Extended hours orders routed to Citadel and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a market maker such as Citadel Securities LLC both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing LLC customer orders. Accordingly from such anticipated profit a market maker such as Citadel Securities LLC can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. A market maker’s (such as Citadel’s) anticipated profit must be allocated among these three sub-categories such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and Citadel Securities LLC do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Citadel Securities LLC. LAMPOST CAPITAL LC LAMP 30.37 17.55 45.30 35.65 25.34 105483.29 19.9837 80850.78 5.5992 167965.50 11.1513 0.00 0.0000 RQD* Clearing LLC receives revenue from third-party liquidity providers based on the order flow execution received at each destination. LAMPOST CAPITAL L.C. paid RQD* Clearing LLC rebates on orders according to the below terms: A. US listed Security (NMS) non-marketable (add liquidity) orders executed equal to or over $1 per share rebate of .0032 per share B. US listed Security (NMS) marketable (remove liquidity) order executed equal to or over $1 per share rebate of .0020 per share C. US listed Security (NMS) non-marketable (add liquidity) orders executed under $1 rebate of .0015 notional amount of the trade (15 basis points) D. US listed Security (NMS) marketable (remove liquidity) order executed under $1 per share rebate of .0010 notional amount of the trade (10 basis points) F. Extended hours orders routed to LAMPOST CAPITAL L.C. and filled outside the core session will not receive payment nor will incur a charge. However, orders marked as extended hours eligible filled during the core session will receive at the above payment terms. There is a potential conflict inherent to a Firm such as LAMPOST CAPITAL L.C. both paying for order flow and providing price improvement as the potential source of funds for each is the same namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD* Clearing, LLC customer orders. Accordingly from such anticipated profit a Firm such as LAMPOST can (i) forgo a portion of such anticipated profit to provide price improvement; (ii) forgo a portion of such anticipated profit to pay for order flow; or (iii) retain a larger portion of anticipated profit and not provide (or provide less) price improvement or not provide (or provide less) payment for order flow. Firms (such as LAMPOST CAPITAL) anticipated profit must be allocated among these three sub-categories, such that an increased allocation to any one subcategory will result in a decreased allocation to one or more of the other categories. Furthermore, RQD* Clearing LLC and LAMPOST CAPITAL L.C. do not have any arrangements: - that require RQD* Clearing LLC to meet certain volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds; - that require RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD* Clearing LLC for failing to meet certain minimum volume thresholds; - for volume-based tiered payment schedules; or - that requires RQD* Clearing LLC to route any orders or a minimum number of orders to LAMPOST CAPITAL L.C. LAMPOST CAPITAL L.C. is a clearing client of RQD* Clearing, LLC 100.00 0.13 5.55 30.82 63.50 Jane Street Capital LLC JNST 39.42 25.00 39.00 37.62 40.37 12.00 50.0000 292.00 50.0000 344.00 50.0000 418.48 13.9959 RQD* Clearing LLC routes customer orders in NMS securities that are options contracts to Jane Street Capital, LLC (JNST) to facilitate the execution of and price improvement of client orders. Non-exchange third-party market centers compete for orders based on execution quality. There is a potential conflict inherent to a market maker such as Jane Street Capital, LLC both paying for order flow and providing price improvement, as the potential source of funds for each is the same, namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD Clearing, LLC orders. Jane Street Capital, LLC generates revenue from executing or facilitating the execution of RQD* Clearing, LLC customer orders. In exchange for such routing, RQD* Clearing LLC receives payment from Jane Street Capital, LLC (i.e. payment for order flow) in the amounts outlined in the above report and detailed below. 0.50 per contract. Exchange fees are passed back to RQD* Clearing LLC on Index Options This is for marketable and non-marketable orders. Furthermore, RQD* Clearing LLC and Jane Street Capital, LLC do not have any arrangements: A. that requires RQD* Clearing, LLC to meet specific volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds. B. that requires RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds. C. for volume-based tiered payment schedules; or D. that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Jane Street Capital, LLC. No rebate is paid to RQD* Clearing LLC on sub-penny option contracts Dash/IMC Financial Markets DFIN 22.84 62.50 24.05 26.65 20.80 7.50 50.0000 122.00 50.0000 529.00 50.0000 -277.89 -13.6220 RQD* Clearing LLC routes customer orders in NMS securities that are options contracts to Dash/IMC Financial Markets (DFIN) to facilitate the execution of and price improvement of client orders. Non-exchange third-party market centers compete for orders based on execution quality. There is a potential conflict inherent to a market maker such as Dash/IMC Financial Markets both paying for order flow and providing price improvement, as the potential source of funds for each is the same, namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD Clearing, LLC orders. Dash/IMC Financial Markets generates revenue from executing or facilitating the execution of RQD* Clearing, LLC customer orders. In exchange for such routing, RQD* Clearing LLC receives payment from Dash/IMC Financial Markets (i.e. payment for order flow) in the amounts outlined in the above report and detailed below. 0.50 per contract for executed contracts on non-index options Exchange fees are passed back to RQD* Clearing LLC on Index Options This is for marketable and non-marketable orders. Furthermore, RQD* Clearing LLC and Dash/IMC Financial Markets do not have any arrangements: A. that requires RQD* Clearing, LLC to meet specific volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds. B. that requires RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds. C. for volume-based tiered payment schedules; or D. that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Dash/IMC Financial Markets. No rebate is paid to RQD* Clearing LLC on sub-penny option contracts. Citadel Securities LLC CDRG 37.74 12.50 36.95 35.73 38.83 0.50 50.0000 307.50 50.0000 249.00 50.0000 -196.22 -4.6147 RQD* Clearing LLC routes customer orders in NMS securities that are options contracts to Citadel Securities LLC (CDRG) to facilitate the execution of and price improvement of client orders. Non-exchange third-party market centers compete for orders based on execution quality. There is a potential conflict inherent to a market maker such as Citadel Securities LLC both paying for order flow and providing price improvement, as the potential source of funds for each is the same, namely the anticipated profit the market maker seeks to earn from executing or facilitating the execution of RQD Clearing, LLC orders. Citadel Securities LLC generates revenue from executing or facilitating the execution of RQD* Clearing, LLC customer orders. In exchange for such routing, RQD* Clearing LLC receives payment from Citdel Securities LLC (i.e. payment for order flow) in the amounts outlined in the above report and detailed below. 0.50 per contract for executed contracts on non-index options Exchange fees are passed back to RQD* Clearing LLC on Index Options This is for marketable and non-marketable orders. Furthermore, RQD* Clearing LLC and Citadel Securities LLC do not have any arrangements: A. that requires RQD* Clearing, LLC to meet specific volume thresholds or that provide incentives to RQD* Clearing LLC for meeting or exceeding certain volume thresholds. B. that requires RQD* Clearing LLC to meet certain minimum volume thresholds or that provide disincentives to RQD Clearing LLC for failing to meet certain minimum volume thresholds. C. for volume-based tiered payment schedules; or D. that requires RQD* Clearing LLC to route any orders or a minimum number of orders to Citadel Securities LLC. No rebate is paid to RQD* Clearing LLC on sub-penny option contracts.