1.2 Marex-MPSG 2026 2 2026-07-30T19:07:15Z 2026 04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 96.19 0.00 7.77 30.77 61.46 CBOE GLOBAL MARKETS INC. XCBO 18.12 0.00 47.68 3.52 21.68 0.0000 0.0000 -2008.0175 -19.2986 -1049.2375 -27.3809 165.1975 7.9004 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. NYSE ARCA OPTIONS ARCO 17.94 0.00 0.00 32.80 12.77 0.0000 0.0000 0.0000 0.0000 7513.4200 45.4780 843.6200 2.3973 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. INTERNATIONAL SECURITIES EXCHANGE, LLC XISX 9.85 0.00 4.52 0.00 15.46 0.0000 0.0000 -700.2300 -37.1278 0.0000 0.0000 -859.8700 -3.6723 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. PHILADELPHIA OPTIONS EXCHANGE XPHO 8.44 0.00 0.00 0.10 13.69 0.0000 0.0000 0.0000 0.0000 -14.8300 -23.9194 -301.9050 -1.4222 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. CBOE BZX OPTIONS EXCHANGE BATO 8.13 0.00 0.00 21.30 2.57 0.0000 0.0000 0.0000 0.0000 3873.2200 41.9225 46.3000 2.5163 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. CBOE EDGX OPTIONS EXCHANGE EDGO 7.78 0.00 6.26 0.02 11.86 0.0000 0.0000 7.4350 5.5074 -0.0300 -3.0000 -224.7250 -9.1612 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. NASDAQ OPTIONS MARKET XNDQ 6.73 0.00 0.00 20.73 0.56 0.0000 0.0000 0.0000 0.0000 315.6500 73.4070 -836.2400 -39.4081 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. NYSE AMERICAN OPTIONS AMXO 6.45 0.00 0.00 0.18 10.41 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 -551.1500 -0.5801 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. ISE GEMINI EXCHANGE GMNI 5.81 0.00 1.10 17.80 0.40 0.0000 0.0000 -182.9100 -55.9358 332.4100 17.1081 52.9200 17.0161 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. MIAMI INTERNATIONAL SECURITIES EXCHANGE XMIO 5.13 0.00 20.90 0.90 5.26 0.0000 0.0000 17.0050 2.7472 -23.6700 -3.0000 -594.6150 -26.9911 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. 2026 05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 93.09 0.00 11.23 55.92 32.85 CBOE GLOBAL MARKETS INC. XCBO 22.84 0.00 44.76 4.91 45.86 0.0000 0.0000 -414.5700 -8.4399 -510.7325 -23.5469 -37.3900 -2.2403 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. NYSE ARCA OPTIONS ARCO 21.17 0.00 0.00 34.17 6.28 0.0000 0.0000 0.0000 0.0000 2376.0100 47.7302 34.5000 0.2718 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. ISE GEMINI EXCHANGE GMNI 14.00 0.00 1.39 23.90 1.46 0.0000 0.0000 -66.9600 -24.8922 477.6100 17.5398 18.6200 13.5912 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. CBOE BZX OPTIONS EXCHANGE BATO 9.20 0.00 0.00 14.56 3.21 0.0000 0.0000 0.0000 0.0000 700.2100 35.9451 -465.4500 -23.2260 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. NASDAQ OPTIONS MARKET XNDQ 9.13 0.00 0.00 15.68 1.10 0.0000 0.0000 0.0000 0.0000 144.0100 67.6103 -694.1800 -49.5843 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. INTERNATIONAL SECURITIES EXCHANGE, LLC XISX 5.75 0.00 3.31 0.00 16.36 0.0000 0.0000 -93.2400 -13.4935 0.0000 0.0000 -2947.5600 -4.6346 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. BOX OPTIONS EXCHANGE XBOX 4.92 0.00 29.06 2.42 0.91 0.0000 0.0000 -128.8200 -5.3586 -26.9100 -3.0000 -114.9200 -3.7568 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. MIAMI INTERNATIONAL SECURITIES EXCHANGE XMIO 3.51 0.00 6.09 3.95 1.90 0.0000 0.0000 5.0650 1.0090 -86.5500 -3.0000 -166.5550 -36.9302 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. 2026 06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 95.76 0.00 10.44 58.76 30.80 CBOE BZX OPTIONS EXCHANGE BATO 17.49 0.00 0.00 25.54 8.06 0.0000 0.0000 0.0000 0.0000 1917.7300 35.9125 -1197.1800 -49.8825 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. NASDAQ OPTIONS MARKET XNDQ 16.53 0.00 0.00 26.64 2.83 0.0000 0.0000 0.0000 0.0000 429.3500 72.1597 -1187.1400 -52.6448 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. NYSE ARCA OPTIONS ARCO 16.45 0.00 0.00 22.50 10.46 0.0000 0.0000 0.0000 0.0000 6412.8200 37.6649 -248.9500 -1.3339 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. CBOE GLOBAL MARKETS INC. XCBO 15.69 0.00 53.08 1.49 30.12 0.0000 0.0000 -756.9300 -7.8569 4.5425 4.3678 -5.0275 -0.0315 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. ISE GEMINI EXCHANGE GMNI 12.89 0.00 2.06 19.97 3.05 0.0000 0.0000 -186.9300 -48.0540 233.7300 17.3906 42.9700 18.2076 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. NYSE AMERICAN OPTIONS AMXO 4.59 0.00 0.00 0.00 14.91 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 -74.2200 -0.0507 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. BOX OPTIONS EXCHANGE XBOX 4.27 0.00 23.91 2.76 0.48 0.0000 0.0000 -119.1400 -3.3914 -126.8400 -3.0764 -0.2400 -1.3333 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis. CBOE EDGX OPTIONS EXCHANGE EDGO 3.11 0.00 6.30 0.00 7.98 0.0000 0.0000 11.4750 7.5000 0.0000 0.0000 -4.3800 -0.1163 Marex Capital Markets Inc (MCM or, the Firm), MCM routes orders to Dash Financial Technologies (DASH), Matrix Executions, and options floor brokers which execute orders on national security exchanges, alternative trading systems, electronic communications networks, and broker dealers that offer credits for orders that provide liquidity to their books and assess fees for orders that take liquidity from their books. In some cases, the credits offered by a market center exceed the charges assessed, where said market center makes a payment to DASH in relation to the orders directed to that market center. DASH will pass the rebate, if any, back to MCM on monthly basis. MCM also receives incremental pricing benefits from market centers based upon the aggregate trading volume generated by MCM. MCM does not direct orders to Exchanges for execution as DASH determines where to route an order for execution. All rebates are passed back to the client accounts on a monthly basis.