1.3 APEX Clearing 2023 2 2023-07-31T20:04:08Z 2023 04 100.00 43.85 5.65 40.06 10.44 Virtu Americas, LLC 37.02 64.46 21.98 16.13 10.04 3773.89 12.7313 2614.19 14.9942 1948.83 28.9526 1132.72 11.8747 Apex Clearing Corporation (“APEX”) received payment from Virtu Americas, LLC (“Virtu”) and all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Instinet, LLC 24.18 11.95 20.24 35.30 35.02 0.00 0.0000 0.00 0.0000 0.00 0.0000 0.00 0.0000 Instinet is APEX's order routing technology provider and APEX also routes orders to Instinet brokerage services. All non-directed orders that APEX routed to Instinet were further routed to U.S. securities exchanges, alternative trading centers or single dealer platforms pursuant to Instinet’s order routing arrangements. APEX paid Instinet a technology fee for its order routing provider services which included routes to brokers, and APEX also paid Instinet for exchange fees and ATS fees (as applicable) for orders that Instinet further routed to an exchange or an ATS and received an execution. In certain instances, APEX paid Instinet a brokerage fee for other non-directed orders that resulted in execution on an exchange or ATS. Brokerage fees paid by APEX to Instinet are based upon volume tiers. Instinet rebated to APEX exchange fees and payment that it received from exchanges, ATS’ and single broker platforms. In turn, APEX distributed the exchange rebates and other payments received to the applicable APEX client that sent such qualifying, non-directed orders resulting in execution. https://www.instinet.com/order-disclosures Jane Street Capital 13.83 13.31 32.92 12.91 9.20 6770.03 15.0049 10196.55 15.0000 5637.63 28.3597 5847.96 19.4794 Apex Clearing Corporation (“APEX”) received payment from Jane Street Capital, LLC (“Jane”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CITADEL SECURITIES LLC 13.24 2.94 7.14 19.38 36.20 1578.02 15.0000 2977.26 15.0000 3791.30 28.9456 5917.29 15.7845 Apex Clearing Corporation (“APEX”) received payment from Citadel Securities, LLC. ("Citadel")all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Hudson River Trading (Hrt) 5.98 4.53 11.33 7.91 1.75 2189.57 15.0000 3579.03 15.0000 1728.98 29.0000 1534.51 15.0000 Apex Clearing Corporation (“APEX”) received payment from Hudson River Trading (“HRT”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Two Sigma Securities, LLC 4.30 0.34 1.06 8.37 7.02 414.48 15.0000 386.58 15.0001 2274.11 27.8909 710.41 17.1597 Apex Clearing Corporation (“APEX”) received payment from Two Sigma Securities, LLC (“Two Sigma”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CODA MARKETS INC 1.46 2.46 5.34 0.00 0.77 973.29 15.0000 863.97 15.0000 0.24 15.0000 135.33 15.0000 APEX received payment from Coda Markets, Inc. ("CODA") and all other brokers for directing order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment is not received for executions priced less than $1. These payments are not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Also, note that orders routed to and executed by CODA interact with PEAK6 Capital Management LLC. CODA and PEAK6 Capital Management LLC are affiliated entities of APEX. Further, note that CODA does not qualify as a venue that APEX is required to disclose; however, APEX is choosing to disclose CODA solely for the sake of transparency due to the affiliation between APEX and CODA. 100.00 27.26 13.32 44.47 14.95 Instinet, LLC 31.42 18.78 15.13 42.77 35.20 Instinet is APEX's order routing technology provider and APEX also routes orders to Instinet brokerage services. All non-directed orders that APEX routed to Instinet were further routed to U.S. securities exchanges, alternative trading centers or single dealer platforms pursuant to Instinet’s order routing arrangements. APEX paid Instinet a technology fee for its order routing provider services which included routes to brokers, and APEX also paid Instinet for exchange fees and ATS fees (as applicable) for orders that Instinet further routed to an exchange or an ATS and received an execution. In certain instances, APEX paid Instinet a brokerage fee for other non-directed orders that resulted in execution on an exchange or ATS. Brokerage fees paid by APEX to Instinet are based upon volume tiers. Instinet rebated to APEX exchange fees and payment that it received from exchanges, ATS’ and single broker platforms. In turn, APEX distributed the exchange rebates and other payments received to the applicable APEX client that sent such qualifying, non-directed orders resulting in execution. https://www.instinet.com/order-disclosures Virtu Americas, LLC 23.03 41.70 23.72 13.69 16.19 51289.62 8.0225 82288.50 6.3640 45626.69 17.5875 16176.85 8.9012 Apex Clearing Corporation (“APEX”) received payment from Virtu Americas, LLC (“Virtu”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Jane Street Capital 16.94 21.38 34.30 12.43 6.78 63399.59 7.0657 149412.02 6.8851 90729.60 17.2783 47421.96 11.6950 Apex Clearing Corporation (“APEX”) received payment from Jane Street Capital, LLC (“Jane”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CITADEL SECURITIES LLC 15.12 6.33 8.33 16.24 33.87 19313.45 5.2393 40807.82 6.9802 57647.72 17.9053 20392.19 10.8359 Apex Clearing Corporation (“APEX”) received payment from Citadel Securities, LLC (“Citadel”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Hudson River Trading (Hrt) 6.89 7.40 11.70 7.05 1.21 18886.20 6.7004 46058.69 7.2347 27288.12 14.5352 11050.14 10.8496 Apex Clearing Corporation (“APEX”) received payment from Hudson River Trading (“HRT”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Two Sigma Securities, LLC 4.69 0.56 1.04 7.82 6.16 3428.77 3.8251 10139.19 4.9035 34052.34 18.0401 5249.24 9.5737 Apex Clearing Corporation (“APEX”) received payment from Two Sigma Securities, LLC (“Two Sigma”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CODA MARKETS INC 1.91 3.84 5.79 0.00 0.59 3014.26 14.3424 5170.83 14.1028 47.06 3.3796 525.34 15.0000 APEX received payment from Coda Markets, Inc. (CODA) and all other brokers for directing order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment is not received for executions priced less than $1. These payments are not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Also, note that orders routed to and executed by CODA interact with PEAK6 Capital Management LLC. CODA and PEAK6 Capital Management LLC are affiliated entities of APEX. Further, note that CODA does not qualify as a venue that APEX is required to disclose; however, APEX is choosing to disclose CODA solely for the sake of transparency due to the affiliation between APEX and CODA. 100.00 1.08 5.60 21.50 71.82 Dash Financial Technologies 43.72 61.38 44.77 37.15 45.33 22781.11 22.0031 122274.36 27.5964 62703.82 28.3915 363996.12 50.7747 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Dash Financial Technologies ("Dash"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CITADEL SECURITIES LLC 27.98 13.65 18.01 20.83 31.11 4103.85 24.7235 74055.81 29.2416 27062.71 32.6419 208623.60 51.9793 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Citadel Securities LLC ("Citadel"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Wolverine Execution Services, LLC 17.13 18.09 30.73 35.60 10.52 4739.40 27.3401 89931.57 28.9270 44830.70 31.5640 67029.30 52.9110 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Wolverine Execution Services LLC ("WEX"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Global Execution Brokers LP 11.18 6.88 6.50 6.41 13.03 3044.06 22.0010 14347.09 27.1777 10234.30 28.3499 80022.99 51.6128 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Global Execution Brokers LP ("G1X"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. 2023 05 100.00 47.27 5.10 38.20 9.42 Virtu Americas, LLC 38.75 66.88 21.21 13.54 9.29 3898.68 12.3007 3312.44 14.9950 2264.80 28.9553 820.35 10.2571 Apex Clearing Corporation (“APEX”) received payment from Virtu Americas, LLC (“Virtu”) and all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Instinet, LLC 21.68 11.91 15.08 31.73 33.48 0.00 0.0000 0.00 0.0000 0.00 0.0000 0.00 0.0000 Instinet is APEX's order routing technology provider and APEX also routes orders to Instinet brokerage services. All non-directed orders that APEX routed to Instinet were further routed to U.S. securities exchanges, alternative trading centers or single dealer platforms pursuant to Instinet’s order routing arrangements. APEX paid Instinet a technology fee for its order routing provider services which included routes to brokers, and APEX also paid Instinet for exchange fees and ATS fees (as applicable) for orders that Instinet further routed to an exchange or an ATS and received an execution. In certain instances, APEX paid Instinet a brokerage fee for other non-directed orders that resulted in execution on an exchange or ATS. Brokerage fees paid by APEX to Instinet are based upon volume tiers. Instinet rebated to APEX exchange fees and payment that it received from exchanges, ATS’ and single broker platforms. In turn, APEX distributed the exchange rebates and other payments received to the applicable APEX client that sent such qualifying, non-directed orders resulting in execution. https://www.instinet.com/order-disclosures CITADEL SECURITIES LLC 12.97 2.26 6.67 20.30 40.43 998.65 15.0000 1298.11 15.0001 3558.20 28.9680 1729.65 18.3690 Apex Clearing Corporation (“APEX”) received payment from Citadel Securities, LLC. ("Citadel")all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Jane Street Capital 10.83 10.25 30.84 9.77 7.23 4231.69 15.0013 5515.51 15.0001 4512.92 28.8779 3854.19 22.0220 Apex Clearing Corporation (“APEX”) received payment from Jane Street Capital, LLC (“Jane”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Hudson River Trading (Hrt) 6.65 4.25 12.81 10.23 0.90 1471.57 15.0000 1792.95 15.0000 2115.03 29.0000 512.55 15.0000 Apex Clearing Corporation (“APEX”) received payment from Hudson River Trading (“HRT”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Two Sigma Securities, LLC 4.10 0.29 0.85 8.31 7.92 167.11 15.0000 147.77 15.0028 2297.38 28.9683 509.56 16.5612 Apex Clearing Corporation (“APEX”) received payment from Two Sigma Securities, LLC (“Two Sigma”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. StoneX Financial, Inc. 4.07 2.67 8.13 6.12 0.56 880.41 15.0000 1183.80 15.0000 1142.44 29.0000 785.89 29.0000 Apex Clearing Corporation (“APEX”) received payment from StoneX Financial, Inc. (“StoneX”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CODA MARKETS INC 0.95 1.50 4.41 0.00 0.19 441.30 15.0000 328.35 15.0000 0.01 15.0000 62.50 15.0000 APEX received payment from Coda Markets, Inc. ("CODA") and all other brokers for directing order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment is not received for executions priced less than $1. These payments are not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Also, note that orders routed to and executed by CODA interact with PEAK6 Capital Management LLC. CODA and PEAK6 Capital Management LLC are affiliated entities of APEX. Further, note that CODA does not qualify as a venue that APEX is required to disclose; however, APEX is choosing to disclose CODA solely for the sake of transparency due to the affiliation between APEX and CODA. 100.00 28.78 12.48 44.10 14.64 Instinet, LLC 28.53 18.43 13.16 38.08 32.67 Instinet is APEX's order routing technology provider and APEX also routes orders to Instinet brokerage services. All non-directed orders that APEX routed to Instinet were further routed to U.S. securities exchanges, alternative trading centers or single dealer platforms pursuant to Instinet’s order routing arrangements. APEX paid Instinet a technology fee for its order routing provider services which included routes to brokers, and APEX also paid Instinet for exchange fees and ATS fees (as applicable) for orders that Instinet further routed to an exchange or an ATS and received an execution. In certain instances, APEX paid Instinet a brokerage fee for other non-directed orders that resulted in execution on an exchange or ATS. Brokerage fees paid by APEX to Instinet are based upon volume tiers. Instinet rebated to APEX exchange fees and payment that it received from exchanges, ATS’ and single broker platforms. In turn, APEX distributed the exchange rebates and other payments received to the applicable APEX client that sent such qualifying, non-directed orders resulting in execution. https://www.instinet.com/order-disclosures Virtu Americas, LLC 22.01 40.75 22.31 11.64 16.20 61220.29 10.2257 114981.31 9.9011 42059.85 20.8030 21107.44 11.1676 Apex Clearing Corporation (“APEX”) received payment from Virtu Americas, LLC (“Virtu”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CITADEL SECURITIES LLC 15.22 5.44 7.73 17.40 34.24 22672.24 8.5002 52097.45 9.7246 68948.14 21.6089 29921.64 14.5738 Apex Clearing Corporation (“APEX”) received payment from Citadel Securities, LLC (“Citadel”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Jane Street Capital 14.97 19.12 31.03 10.20 7.46 75386.63 8.9900 174491.78 9.1568 90453.76 20.4597 52435.71 14.7787 Apex Clearing Corporation (“APEX”) received payment from Jane Street Capital, LLC (“Jane”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Hudson River Trading (Hrt) 8.21 7.94 12.49 9.37 1.63 27843.65 10.0265 61226.27 9.8567 45036.35 21.0613 14438.72 13.4567 Apex Clearing Corporation (“APEX”) received payment from Hudson River Trading (“HRT”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. StoneX Financial, Inc. 4.99 4.99 7.87 5.48 1.02 12362.22 11.1354 24265.67 11.0458 19616.70 23.4825 15778.39 26.1263 Apex Clearing Corporation (“APEX”) received payment from StoneX Financial, Inc. (“StoneX”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Two Sigma Securities, LLC 4.68 0.58 1.11 7.83 6.28 5533.66 5.4501 18737.63 7.4539 40351.56 21.7661 6702.59 12.2103 Apex Clearing Corporation (“APEX”) received payment from Two Sigma Securities, LLC (“Two Sigma”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CODA MARKETS INC 1.40 2.75 4.30 0.00 0.50 2144.67 14.6534 3390.19 14.7761 10.66 14.3925 269.65 14.8759 APEX received payment from Coda Markets, Inc. (CODA) and all other brokers for directing order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment is not received for executions priced less than $1. These payments are not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Also, note that orders routed to and executed by CODA interact with PEAK6 Capital Management LLC. CODA and PEAK6 Capital Management LLC are affiliated entities of APEX. Further, note that CODA does not qualify as a venue that APEX is required to disclose; however, APEX is choosing to disclose CODA solely for the sake of transparency due to the affiliation between APEX and CODA. 100.00 1.14 6.58 28.09 64.19 Dash Financial Technologies 41.02 64.68 49.08 39.35 40.51 39541.99 21.6653 176715.28 26.6576 80098.50 27.9114 335138.42 50.7276 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Dash Financial Technologies ("Dash"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Wolverine Execution Services, LLC 30.96 19.06 30.78 38.36 27.95 5682.55 26.4292 117787.27 28.4932 61019.70 30.2488 182324.84 52.0946 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Wolverine Execution Services LLC ("WEX"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CITADEL SECURITIES LLC 24.74 14.20 18.20 20.61 27.40 6353.32 23.6455 99062.85 28.4850 35895.46 31.1058 194678.33 52.5079 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Citadel Securities LLC ("Citadel"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Global Execution Brokers LP 3.28 2.06 1.94 1.68 4.13 829.71 22.1551 3860.91 25.2331 4044.86 28.5352 29024.53 52.0330 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Global Execution Brokers LP ("G1X"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. 2023 06 99.09 50.59 5.33 34.77 9.31 Virtu Americas, LLC 40.92 66.24 22.91 13.70 15.23 4906.48 12.7456 3490.67 14.9957 1888.09 28.9388 1370.74 11.1137 Apex Clearing Corporation (“APEX”) received payment from Virtu Americas, LLC (“Virtu”) and all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Instinet, LLC 15.49 12.72 10.39 17.22 27.03 0.00 0.0000 0.00 0.0000 0.00 0.0000 0.00 0.0000 Instinet is APEX's order routing technology provider and APEX also routes orders to Instinet brokerage services. All non-directed orders that APEX routed to Instinet were further routed to U.S. securities exchanges, alternative trading centers or single dealer platforms pursuant to Instinet’s order routing arrangements. APEX paid Instinet a technology fee for its order routing provider services which included routes to brokers, and APEX also paid Instinet for exchange fees and ATS fees (as applicable) for orders that Instinet further routed to an exchange or an ATS and received an execution. In certain instances, APEX paid Instinet a brokerage fee for other non-directed orders that resulted in execution on an exchange or ATS. Brokerage fees paid by APEX to Instinet are based upon volume tiers. Instinet rebated to APEX exchange fees and payment that it received from exchanges, ATS’ and single broker platforms. In turn, APEX distributed the exchange rebates and other payments received to the applicable APEX client that sent such qualifying, non-directed orders resulting in execution. https://www.instinet.com/order-disclosures CITADEL SECURITIES LLC 13.70 2.36 7.15 24.55 38.54 1327.16 15.0000 1664.10 15.0000 4358.80 28.9640 1926.75 18.0325 Apex Clearing Corporation (“APEX”) received payment from Citadel Securities, LLC. ("Citadel")all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Jane Street Capital 10.38 9.87 31.79 8.64 7.33 5125.97 15.0092 5784.36 15.0000 3601.14 28.8473 4377.40 21.8164 Apex Clearing Corporation (“APEX”) received payment from Jane Street Capital, LLC (“Jane”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Hudson River Trading (Hrt) 8.60 4.54 14.29 15.28 2.42 2235.24 15.0000 2437.92 15.0000 3080.65 29.0000 548.33 15.0000 Apex Clearing Corporation (“APEX”) received payment from Hudson River Trading (“HRT”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. StoneX Financial, Inc. 5.91 2.82 9.10 11.00 1.81 1415.28 15.0000 1496.11 15.0000 1788.25 29.0000 977.16 29.0000 Apex Clearing Corporation (“APEX”) received payment from StoneX Financial, Inc. (“StoneX”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Two Sigma Securities, LLC 4.05 0.03 0.11 9.61 7.43 135.78 15.0000 131.18 15.0000 2028.20 28.9700 575.11 15.8634 Apex Clearing Corporation (“APEX”) received payment from Two Sigma Securities, LLC (“Two Sigma”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CODA MARKETS INC 0.97 1.42 4.27 0.00 0.20 572.04 15.0000 275.38 15.0000 0.07 15.0000 43.75 15.0000 APEX received payment from Coda Markets, Inc. ("CODA") and all other brokers for directing order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment is not received for executions priced less than $1. These payments are not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Also, note that orders routed to and executed by CODA interact with PEAK6 Capital Management LLC. CODA and PEAK6 Capital Management LLC are affiliated entities of APEX. Further, note that CODA does not qualify as a venue that APEX is required to disclose; however, APEX is choosing to disclose CODA solely for the sake of transparency due to the affiliation between APEX and CODA. 98.54 32.94 12.86 39.12 15.07 Virtu Americas, LLC 26.15 44.53 24.23 12.52 23.01 68175.61 11.5868 152848.00 9.7259 38305.20 18.0614 20666.92 10.2072 Apex Clearing Corporation (“APEX”) received payment from Virtu Americas, LLC (“Virtu”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Instinet, LLC 19.01 17.48 5.77 22.45 24.75 Instinet is APEX's order routing technology provider and APEX also routes orders to Instinet brokerage services. All non-directed orders that APEX routed to Instinet were further routed to U.S. securities exchanges, alternative trading centers or single dealer platforms pursuant to Instinet’s order routing arrangements. APEX paid Instinet a technology fee for its order routing provider services which included routes to brokers, and APEX also paid Instinet for exchange fees and ATS fees (as applicable) for orders that Instinet further routed to an exchange or an ATS and received an execution. In certain instances, APEX paid Instinet a brokerage fee for other non-directed orders that resulted in execution on an exchange or ATS. Brokerage fees paid by APEX to Instinet are based upon volume tiers. Instinet rebated to APEX exchange fees and payment that it received from exchanges, ATS’ and single broker platforms. In turn, APEX distributed the exchange rebates and other payments received to the applicable APEX client that sent such qualifying, non-directed orders resulting in execution. https://www.instinet.com/order-disclosures CITADEL SECURITIES LLC 16.15 5.23 8.56 21.63 32.26 23301.69 10.2032 66531.18 9.8923 70889.11 20.0275 30957.43 11.1057 Apex Clearing Corporation (“APEX”) received payment from Citadel Securities, LLC (“Citadel”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Jane Street Capital 14.86 17.26 32.60 9.72 7.84 77940.57 10.1109 202023.79 8.6191 96438.33 17.4916 60853.30 12.3890 Apex Clearing Corporation (“APEX”) received payment from Jane Street Capital, LLC (“Jane”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Hudson River Trading (Hrt) 10.78 8.00 14.96 14.54 3.50 33453.34 10.3561 98561.08 9.1844 60683.65 17.9886 14879.87 11.2648 Apex Clearing Corporation (“APEX”) received payment from Hudson River Trading (“HRT”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. StoneX Financial, Inc. 7.15 4.99 9.09 10.23 2.23 13816.23 11.7238 26577.92 9.7518 30668.92 21.0610 17281.77 24.8274 Apex Clearing Corporation (“APEX”) received payment from StoneX Financial, Inc. (“StoneX”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Two Sigma Securities, LLC 4.43 0.07 0.29 8.92 5.87 5776.02 8.4207 29414.96 8.7226 42969.10 17.5457 8209.40 9.6822 Apex Clearing Corporation (“APEX”) received payment from Two Sigma Securities, LLC (“Two Sigma”) all other brokers for directing NMS order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment was not received for executions priced less than $1. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CODA MARKETS INC 1.47 2.45 4.51 0.00 0.55 2870.55 14.9348 3077.04 14.8736 57.00 15.0000 239.57 14.9999 APEX received payment from Coda Markets, Inc. (CODA) and all other brokers for directing order flow that result in executions. For marketable orders the payment rate was $0.0015 per share, for non-marketable orders the rate was $0.0029 per share, and payment is not received for executions priced less than $1. These payments are not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Also, note that orders routed to and executed by CODA interact with PEAK6 Capital Management LLC. CODA and PEAK6 Capital Management LLC are affiliated entities of APEX. Further, note that CODA does not qualify as a venue that APEX is required to disclose; however, APEX is choosing to disclose CODA solely for the sake of transparency due to the affiliation between APEX and CODA. 100.00 1.59 8.33 29.92 60.16 Dash Financial Technologies 39.69 61.55 43.69 34.51 41.13 27600.59 23.0938 168527.71 25.8517 88227.65 26.5549 340154.00 50.6968 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Dash Financial Technologies ("Dash"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. Wolverine Execution Services, LLC 32.21 20.96 33.85 40.26 28.28 8057.70 27.8717 153238.50 28.0510 80197.15 29.8002 188633.79 52.1762 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Wolverine Execution Services LLC ("WEX"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality. CITADEL SECURITIES LLC 28.10 17.50 22.46 25.23 30.59 7899.38 26.5525 123014.65 27.0184 46573.28 28.6066 199102.98 52.0714 Apex Clearing Corporation (“APEX”) received payment for multi-listed option order flow routed to and executed by Citadel Securities LLC ("Citadel"). For non-complex marketable orders in the penny interval program, the payment rate was between $.21 to $.25 per contract For classes not in the penny interval program, the rate was $0.60 per contract. For complex orders in the penny interval program, the payment rate was between $.51-$.52 per contract. For classes not in the penny interval program, the rate was $0.80 per contract. All option market makers that APEX routed options orders resulting in executions paid the same rates to APEX for orders in the same categories. These payments were not contingent upon volume-based tiered payment schedules, agreements regarding minimum order flow, incentives for exceeding order flow thresholds, disincentives for failing to meet order flow thresholds, nor trade-off’s of payment or other incentives/disincentives for price improvement or other execution quality.