1.3 Charles Schwab 2026 3 2026-10-26T19:18:05Z 2026 07 99.93 28.38 9.31 51.00 11.30 CITADEL SECURITIES LLC 32.13 39.45 39.85 29.28 20.22 1035569.55 9.9377 295463.63 9.2941 745872.53 29.0120 250720.01 11.4442 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Virtu Americas, LLC 19.37 19.99 26.05 18.81 14.89 542540.04 9.9914 162009.06 9.0804 297883.09 23.9319 129164.92 10.1592 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Hudson River Trading (HRT) 16.13 9.28 6.92 19.61 25.21 248731.29 9.8840 57490.77 9.9883 956692.24 32.3815 182530.91 15.7333 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Jane Street Capital 12.26 6.66 11.17 15.60 12.20 188027.85 10.0009 58296.93 9.0754 363903.74 25.2585 74580.08 12.1218 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Two Sigma Securities, LLC 8.99 4.84 3.83 11.70 11.47 135146.98 9.9945 34514.09 9.9933 509787.50 32.1103 85390.66 13.6333 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. G1 Execution Services, LLC 6.30 15.73 9.28 0.65 5.62 443069.03 9.9951 97400.89 9.9896 28126.42 32.8811 87384.43 10.2479 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. 99.66 13.83 8.31 71.70 6.17 CITADEL SECURITIES LLC 28.40 39.30 40.68 25.68 19.00 7797292.54 9.8151 5523405.86 9.1143 4537744.31 26.6524 2122199.67 11.3130 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Hudson River Trading (HRT) 22.85 9.30 6.64 26.88 28.34 1931911.30 9.9079 1019600.20 9.9984 4790097.92 29.8040 1026180.07 14.0952 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Virtu Americas, LLC 14.13 19.99 25.39 11.81 12.77 4110436.98 9.9967 2915608.52 8.9435 1487349.30 20.3588 919809.61 9.8869 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Two Sigma Securities, LLC 12.96 4.88 3.68 15.54 13.58 1040670.15 9.9978 575099.20 9.9992 2094666.67 29.0614 395059.73 11.2862 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Jane Street Capital 11.89 6.70 11.38 12.94 12.06 1437844.40 9.9998 1127436.03 8.8678 1892869.83 21.4539 404063.92 10.5083 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. 99.89 8.61 5.23 48.74 37.42 CITADEL SECURITIES LLC 27.85 35.23 34.46 23.76 30.55 9980690.04 62.3327 8818369.56 60.1659 11742310.30 65.4173 6814490.28 40.4108 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Dash/IMC Financial Markets 26.35 22.01 23.26 31.20 21.45 6187383.84 62.3119 5638499.99 59.3779 15100906.00 66.3591 3334853.70 32.8025 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Jane Street Capital 19.28 25.03 25.21 23.85 11.17 7033481.24 62.1980 6169738.15 59.2929 11251413.05 66.1181 2151937.86 37.5366 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Global Execution Brokers LP 13.85 13.59 13.24 15.84 11.42 3830826.23 61.3734 3397846.34 56.7876 7231311.67 65.4718 1917562.80 35.0702 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Wolverine Execution Services, LLC 12.67 4.12 3.82 5.36 25.41 1193712.33 62.1219 1013263.98 60.4152 2499113.51 66.4594 3967557.18 34.0744 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. 2026 08 99.92 27.33 8.73 52.33 11.61 CITADEL SECURITIES LLC 31.81 41.08 40.51 28.28 19.37 1166917.03 14.8737 424267.43 14.3777 822996.25 33.0339 276957.30 17.3515 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Virtu Americas, LLC 20.78 20.56 26.02 20.80 17.31 608094.07 14.9812 222528.46 14.2095 372011.08 27.8977 142997.96 15.0129 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Hudson River Trading (HRT) 18.17 15.05 10.54 18.68 28.98 447641.51 14.7984 114987.33 14.9770 980155.04 35.3250 178429.73 15.0258 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Jane Street Capital 11.38 2.22 7.92 16.64 11.82 72537.25 14.9994 36191.36 13.8636 423685.89 29.0993 61650.27 18.7382 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Two Sigma Securities, LLC 8.46 4.72 3.94 10.95 9.43 151604.80 14.9946 44339.69 14.9930 512283.74 35.0685 83839.70 19.0753 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. G1 Execution Services, LLC 5.54 14.11 9.14 0.60 4.99 460883.09 14.9943 118436.86 14.9918 30649.62 35.8695 81268.65 15.3448 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. 99.50 18.17 10.53 63.72 7.58 CITADEL SECURITIES LLC 29.97 41.25 42.25 26.18 17.69 7430824.97 11.8630 4869621.42 10.3571 4541785.75 28.7553 1580173.00 13.8691 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Hudson River Trading (HRT) 20.71 15.17 9.66 22.93 30.64 2954353.15 11.9332 1410995.04 12.8979 4294883.93 31.8971 802729.04 12.2992 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Virtu Americas, LLC 18.02 20.59 25.93 16.20 16.18 3895763.04 12.1898 2695575.79 10.4833 1716322.27 22.4412 712737.00 12.4293 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Jane Street Capital 12.28 2.19 8.54 15.72 12.78 447979.73 11.6983 448310.47 8.7440 2221358.93 23.5942 200605.49 13.0256 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Two Sigma Securities, LLC 10.35 4.69 3.56 13.04 10.70 971427.68 11.9228 503706.60 12.9990 1989477.01 31.0377 305091.57 13.8630 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. 99.89 7.88 5.15 49.02 37.95 CITADEL SECURITIES LLC 28.86 35.20 34.60 25.91 30.58 10159731.38 70.6027 10487124.62 70.0529 12541121.88 67.4904 6740822.34 42.8481 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Dash/IMC Financial Markets 26.79 22.16 23.33 29.05 25.31 5134949.32 57.0812 5569491.46 56.9908 13464651.31 64.9811 3878463.27 33.9774 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Jane Street Capital 17.70 24.20 23.99 23.91 7.47 6995275.62 70.5550 6983698.55 69.7846 11313067.22 67.7607 1639814.25 43.8997 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Global Execution Brokers LP 16.86 17.24 16.83 18.82 14.26 5016612.62 69.9607 5188436.06 68.5465 8887892.54 69.5311 2612134.78 39.7054 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Wolverine Execution Services, LLC 9.78 1.21 1.24 2.30 22.38 352835.11 70.2598 376587.44 70.3444 1116463.79 68.3414 3601905.78 36.9834 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. 2026 09 99.92 26.46 7.82 54.13 11.59 CITADEL SECURITIES LLC 29.66 38.96 38.36 26.18 18.82 1139038.12 14.8823 382060.18 14.4641 789821.42 33.6473 263990.18 17.1690 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Hudson River Trading (HRT) 20.56 18.67 12.85 20.18 31.88 580340.71 14.8238 152324.39 14.9882 1099051.38 35.4813 210294.42 14.6205 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Virtu Americas, LLC 20.30 20.53 26.52 19.57 18.98 624252.18 14.9851 216302.74 14.2890 342954.76 28.5404 155319.25 14.5675 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Jane Street Capital 11.44 0.98 7.26 17.54 9.66 33728.52 15.0248 16468.28 14.0797 455396.35 29.5335 45026.06 20.2898 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Two Sigma Securities, LLC 8.92 4.71 3.97 11.55 9.59 158055.17 14.9904 44199.94 14.9868 540522.35 35.1386 88804.51 18.8682 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. G1 Execution Services, LLC 5.37 14.04 9.22 0.63 5.11 476161.17 14.9925 116067.86 14.9912 28306.41 35.8825 84665.97 15.2904 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. 99.47 17.50 9.64 65.70 7.16 CITADEL SECURITIES LLC 28.28 39.49 40.49 24.75 16.79 7093786.63 11.8502 4604404.44 9.9384 3872696.22 28.6186 1497016.66 13.9995 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Hudson River Trading (HRT) 22.06 18.61 11.62 23.34 32.85 3647224.08 11.8499 1776801.25 12.8643 4465523.19 31.8649 980316.30 12.2977 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Virtu Americas, LLC 17.89 20.62 26.96 15.73 18.80 3907709.49 12.1499 2617155.82 9.8682 1756672.88 22.8966 744001.80 12.1198 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Jane Street Capital 12.59 0.97 6.97 16.68 10.97 204705.71 11.9648 203666.85 8.5096 2203776.44 22.9830 133570.27 13.5082 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Two Sigma Securities, LLC 10.72 4.64 3.70 13.39 10.56 972249.75 11.8825 514960.74 12.9530 2206145.50 31.2448 368249.39 14.7346 Schwab receives payment for listed equity order flow routed to market makers. For marketable orders the payment rate is $0.0015 per share or less, for non-marketable orders the rate is $0.0036 per share or less, and for extended hours orders the rate is $0.0012 per share or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. 99.88 8.84 5.92 45.35 39.89 CITADEL SECURITIES LLC 28.73 33.24 32.57 26.07 30.19 8095235.68 62.8456 9223846.00 63.4073 10234654.31 63.7765 5805110.50 36.9001 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Dash/IMC Financial Markets 27.31 24.13 25.22 27.98 27.55 5774433.33 62.9553 6779676.97 62.7681 10910726.64 64.3534 4201029.32 32.2062 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Global Execution Brokers LP 18.40 14.74 14.54 19.98 18.00 3609655.66 62.1887 4063514.84 60.7814 7579499.33 64.7202 2813180.65 32.9230 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Jane Street Capital 17.96 26.89 26.69 24.87 6.83 6490825.90 62.7585 7197692.71 62.8004 9592152.72 64.2531 1320874.79 38.7192 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality. Wolverine Execution Services, LLC 7.60 0.99 0.99 1.10 17.43 237281.44 62.9746 270448.57 62.9089 459574.65 65.3163 2361611.39 30.5157 Schwab receives payment for multi-listed option order flow routed to market makers. For complex orders the payment rate is $0.78 per contract or less. For marketable orders the payment rate is $1.12 per contract or less. For non-marketable orders the payment rate is $0.84 per contract or less. All market makers pay the same rate to Schwab for any given order flow type. Schwab does not negotiate payment as a condition for sending more order flow to a market maker nor does Schwab negotiate a tradeoff between payment and price improvement/execution quality.