1.2UBS Financial Services Inc202442025-01-30T17:03:10Z202410100.0085.337.002.874.80JANE STREET CAPITAL, LLCJNST26.0029.910.330.039.900.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.Citadel Securities LLCCDRG14.6616.671.840.045.500.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.G1 Execution Services, LLCETMM14.4916.650.180.005.660.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.KNIGHT LINKKNLI14.2315.951.670.0510.340.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.UBS SECURITIES LLCUBSS12.898.9154.2925.3916.130.00000.00000.00000.00000.00000.00000.00000.0000Both UBSFS and UBS Securities LLC (UBSS) are registered broker-dealers that are wholly owned by UBS AG. UBSFS routes most of its customer held orders in NMS stocks to UBSS for further order handling. UBSS may then either route the orders as agent to other venues for execution or, with respect to UBSFS's brokerage customer orders, UBSS may execute such orders on a principal basis, subject to the principles of best execution. When executing UBSFS customer orders as principal, UBSS stands to realize any of the profits or losses generated by this activity. When handling UBSFS customer orders as agent, UBSS may route the orders to other venues, including but not limited to, national securities exchanges and broker-dealers. When UBSS routes orders to certain securities exchanges, UBSS may qualify for volume-based fees and rebates from such exchanges based on the volume-tier schedule published by the exchange. UBSS does not pass any such rebates through to UBSFS. In addition, UBSFS does not receive or make any payment for order flow or have any profit-sharing arrangement with UBSS. For more information about UBSS's routing of its customer orders in NMS securities and the material aspects of its relationships with its identified venues (including rebates received), see UBSS's quarterly public disclosure, available at: https://public.s3.com/rule606/ubss/TWO SIGMA SECURITIES, LLCSOHO4.034.481.620.021.780.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.HUDSON RIVER TRADING (HRT)HRTF3.924.391.350.031.480.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.100.0078.8915.442.233.44JANE STREET CAPITAL, LLCJNST25.1830.940.600.1719.250.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.Citadel Securities LLCCDRG14.4017.203.010.1310.360.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.KNIGHT LINKKNLI14.2016.503.230.2619.840.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.G1 Execution Services, LLCETMM13.9517.170.310.1210.310.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.UBS SECURITIES LLCUBSS11.667.2331.6227.0314.480.00000.00000.00000.00000.00000.00000.00000.0000Both UBSFS and UBS Securities LLC (UBSS) are registered broker-dealers that are wholly owned by UBS AG. UBSFS routes most of its customer held orders in NMS stocks to UBSS for further order handling. UBSS may then either route the orders as agent to other venues for execution or, with respect to UBSFS's brokerage customer orders, UBSS may execute such orders on a principal basis, subject to the principles of best execution. When executing UBSFS customer orders as principal, UBSS stands to realize any of the profits or losses generated by this activity. When handling UBSFS customer orders as agent, UBSS may route the orders to other venues, including but not limited to, national securities exchanges and broker-dealers. When UBSS routes orders to certain securities exchanges, UBSS may qualify for volume-based fees and rebates from such exchanges based on the volume-tier schedule published by the exchange. UBSS does not pass any such rebates through to UBSFS. In addition, UBSFS does not receive or make any payment for order flow or have any profit-sharing arrangement with UBSS. For more information about UBSS's routing of its customer orders in NMS securities and the material aspects of its relationships with its identified venues (including rebates received), see UBSS's quarterly public disclosure, available at: https://public.s3.com/rule606/ubss/TWO SIGMA SECURITIES, LLCSOHO4.144.622.410.053.350.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.HUDSON RIVER TRADING (HRT)HRTF4.134.592.630.062.710.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.NASDAQ - ALL MARKETSXNAS1.940.227.4017.047.090.00000.00000.00000.00000.00000.00000.00000.0000When routing orders to this market center for execution, UBSS may qualify for volume-based fees and rebates based on the volume-tier schedule publicly provided by this market center. However, UBSS does not pass through to UBSFS the rebates or fees applicable to UBSFS's customer orders.CBOE EDGX U.S. EQUITIES EXCHANGEEDGX1.760.186.4328.370.040.00000.00000.00000.00000.00000.00000.00000.0000The net payments reflected above solely include transaction fees paid to and rebates received from the CBOE, by UBSFS, in accordance with CBOE's published volume-tier schedule. Please note that CBOE in its sole discretion may add, remove, and change volume tiers as well as exchange fees and rebates month-to-month. Overall transaction fees and rebates for CBOE transactions executed by UBSFS will vary month-to-month depending on trading activity level including volume and type of order flow. From time to time, the amount of rebates that UBSFS receives from an exchange may exceed the amount of fees that UBSFS is charged by such exchange. In these limited circumstances, the receipt of net payments from an exchange would constitute payment for order flow. More information about CBOE's pricing schedule is available at: http://www.cboe.com/trading-resources/fee-schedules Please note that UBSFS does not base equities or options order routing decisions on the receipt of payment for order flow. To the extent that any exchange provides UBSFS with a rebate or similar payment, such payments: (i) are provided according to exchange fee schedules and rules approved by the SEC; (ii) are not actively solicited or sought after by UBSFS; (iii) if received, are de minimis; and (iv) do not influence UBSFS's order routing practices, which are determined by UBSFS's duty of best execution. UBSFS effectively manages this potential conflict of interest by (i) providing customer disclosures regarding its payment for order flow practices; (ii) not seeking out or negotiating payments for order flow; and (iii) making order routing determinations wholly independently from any rebates or similar payments that UBSFS may receive.99.9651.4012.8632.293.45Susquehanna Investment GroupSIGL33.4328.5120.7847.3422.820.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.CITADEL SECURITIESCDED30.1223.5116.3246.4227.670.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.CBOE OPTIONS EXCHANGECBSX14.8817.4336.883.273.85-1513.8200-1.4600-1096.3100-1.4600-222.1400-1.4600-17.6500-1.4600The net payments reflected above solely include transaction fees paid to and rebates received from the CBOE, by UBSFS, in accordance with CBOE's published volume-tier schedule. At the end of October 2024, UBSFS was charged $0.18 per share for ETF options for >=100 contracts, removing liquidity, received a rebate of $0.30 per share for XSP options < 10 contracts, $0.07 per share for XSP options >= 10 contracts, $0.00 for ETF options contracts < 100 contracts, removing liquidity, $0.0 per share, for ETF options adding liquidity, 0.45 per share for SPX, SPESG options contracts >= $1.00, $0.40 per share for customers for VIX and simple options with premiums of $1.00 - $1.99, $0.17 per share for VIX and complex options with a premium of $0.11-0.99 per share, and $0.75 per share for customer routed options to ARCA, BX, BZX, C2, ISE, GMNI, MERC, EMLD, PERL, NOM, MEMX, ETF, equity, Penny (incl SPY to PHLX). UBSFS' volume tier for the month was Tier 1. Please note that CBOE in its sole discretion may add, remove, and change volume tiers as well as exchange fees and rebates month-to-month. Overall transaction fees and rebates for CBOE transactions executed by UBSFS will vary month-to-month depending on trading activity level including volume and type of order flow. From time to time, the amount of rebates that UBSFS receives from an exchange may exceed the amount of fees that UBSFS is charged by such exchange. In these limited circumstances, the receipt of net payments from an exchange would constitute payment for order flow. More information about CBOE's pricing schedule is available at: http://www.cboe.com/trading-resources/fee-schedules. UBSFS does not base equities or options order routing decisions on the receipt of payment for order flow. To the extent that any exchange provides UBSFS with a rebate or similar payment, such payments: (i) are provided according to exchange fee schedules and rules approved by the SEC; (ii) are not actively solicited or sought after by UBSFS; (iii) if received, are de minimis; and (iv) do not influence UBSFS's order routing practices, which are determined by UBSFS's duty of best execution. UBSFS effectively manages this potential conflict of interest by (i) providing customer disclosures regarding its payment for order flow practices; (ii) not seeking out or negotiating payments for order flow; and (iii) making order routing determinations wholly independently from any rebates or similar payments that UBSFS may receive.BOX OPTIONS EXCHANGEXBOX10.8617.9012.570.040.810.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.PHILADELPHIA OPTIONS EXCHANGEXPHO3.996.086.300.180.110.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.202411100.0084.647.722.674.97JANE STREET CAPITAL, LLCJNST26.0030.150.310.0011.110.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.G1 Execution Services, LLCETMM14.2416.330.150.006.060.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.KNIGHT LINKKNLI13.8415.641.490.029.810.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.Citadel Securities LLCCDRG13.5615.501.690.026.140.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.UBS SECURITIES LLCUBSS13.419.4352.1427.2813.750.00000.00000.00000.00000.00000.00000.00000.0000Both UBSFS and UBS Securities LLC (UBSS) are registered broker-dealers that are wholly owned by UBS AG. UBSFS routes most of its customer held orders in NMS stocks to UBSS for further order handling. UBSS may then either route the orders as agent to other venues for execution or, with respect to UBSFS's brokerage customer orders, UBSS may execute such orders on a principal basis, subject to the principles of best execution. When executing UBSFS customer orders as principal, UBSS stands to realize any of the profits or losses generated by this activity. When handling UBSFS customer orders as agent, UBSS may route the orders to other venues, including but not limited to, national securities exchanges and broker-dealers. When UBSS routes orders to certain securities exchanges, UBSS may qualify for volume-based fees and rebates from such exchanges based on the volume-tier schedule published by the exchange. UBSS does not pass any such rebates through to UBSFS. In addition, UBSFS does not receive or make any payment for order flow or have any profit-sharing arrangement with UBSS. For more information about UBSS's routing of its customer orders in NMS securities and the material aspects of its relationships with its identified venues (including rebates received), see UBSS's quarterly public disclosure, available at: https://public.s3.com/rule606/ubss/HUDSON RIVER TRADING (HRT)HRTF4.815.451.210.022.110.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.TWO SIGMA SECURITIES, LLCSOHO3.954.431.320.021.970.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.NEW YORK STOCK EXCHANGE, INC.XNYS3.010.103.2021.3342.440.00000.00000.00000.00000.00000.00000.00000.0000When routing orders to this market center for execution, UBSS may qualify for volume-based fees and rebates based on the volume-tier schedule publicly provided by this market center. However, UBSS does not pass through to UBSFS the rebates or fees applicable to UBSFS's customer orders.100.0076.0618.142.353.44JANE STREET CAPITAL, LLCJNST24.2730.910.480.2018.850.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.KNIGHT LINKKNLI13.5216.213.270.2117.260.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.Citadel Securities LLCCDRG13.1116.033.120.1710.060.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.G1 Execution Services, LLCETMM13.1016.700.240.1010.220.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.UBS SECURITIES LLCUBSS12.728.2229.4527.3614.820.00000.00000.00000.00000.00000.00000.00000.0000Both UBSFS and UBS Securities LLC (UBSS) are registered broker-dealers that are wholly owned by UBS AG. UBSFS routes most of its customer held orders in NMS stocks to UBSS for further order handling. UBSS may then either route the orders as agent to other venues for execution or, with respect to UBSFS's brokerage customer orders, UBSS may execute such orders on a principal basis, subject to the principles of best execution. When executing UBSFS customer orders as principal, UBSS stands to realize any of the profits or losses generated by this activity. When handling UBSFS customer orders as agent, UBSS may route the orders to other venues, including but not limited to, national securities exchanges and broker-dealers. When UBSS routes orders to certain securities exchanges, UBSS may qualify for volume-based fees and rebates from such exchanges based on the volume-tier schedule published by the exchange. UBSS does not pass any such rebates through to UBSFS. In addition, UBSFS does not receive or make any payment for order flow or have any profit-sharing arrangement with UBSS. For more information about UBSS's routing of its customer orders in NMS securities and the material aspects of its relationships with its identified venues (including rebates received), see UBSS's quarterly public disclosure, available at: https://public.s3.com/rule606/ubss/HUDSON RIVER TRADING (HRT)HRTF4.955.712.640.083.520.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.TWO SIGMA SECURITIES, LLCSOHO4.044.512.690.053.290.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.NASDAQ - ALL MARKETSXNAS2.270.217.6317.429.120.00000.00000.00000.00000.00000.00000.00000.0000When routing orders to this market center for execution, UBSS may qualify for volume-based fees and rebates based on the volume-tier schedule publicly provided by this market center. However, UBSS does not pass through to UBSFS the rebates or fees applicable to UBSFS's customer orders.CBOE EDGX U.S. EQUITIES EXCHANGEEDGX2.050.176.6430.580.040.00000.00000.00000.00000.00000.00000.00000.0000The net payments reflected above solely include transaction fees paid to and rebates received from the CBOE, by UBSFS, in accordance with CBOE's published volume-tier schedule. Please note that CBOE in its sole discretion may add, remove, and change volume tiers as well as exchange fees and rebates month-to-month. Overall transaction fees and rebates for CBOE transactions executed by UBSFS will vary month-to-month depending on trading activity level including volume and type of order flow. From time to time, the amount of rebates that UBSFS receives from an exchange may exceed the amount of fees that UBSFS is charged by such exchange. In these limited circumstances, the receipt of net payments from an exchange would constitute payment for order flow. More information about CBOE's pricing schedule is available at: http://www.cboe.com/trading-resources/fee-schedules Please note that UBSFS does not base equities or options order routing decisions on the receipt of payment for order flow. To the extent that any exchange provides UBSFS with a rebate or similar payment, such payments: (i) are provided according to exchange fee schedules and rules approved by the SEC; (ii) are not actively solicited or sought after by UBSFS; (iii) if received, are de minimis; and (iv) do not influence UBSFS's order routing practices, which are determined by UBSFS's duty of best execution. UBSFS effectively manages this potential conflict of interest by (i) providing customer disclosures regarding its payment for order flow practices; (ii) not seeking out or negotiating payments for order flow; and (iii) making order routing determinations wholly independently from any rebates or similar payments that UBSFS may receive.99.9749.5213.4332.964.08Susquehanna Investment GroupSIGL31.4225.6218.1546.3124.710.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.CITADEL SECURITIESCDED30.5924.3316.8546.3824.610.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.CBOE OPTIONS EXCHANGECBSX16.0618.0635.926.027.56-1006.5000-0.9500-686.7900-0.9500-225.2400-0.9500-15.4600-0.9500The net payments reflected above solely include transaction fees paid to and rebates received from the CBOE, by UBSFS, in accordance with CBOE's published volume-tier schedule. At the end of November 2024, UBSFS was charged $0.00 for equity ETF options, $0.36 for SPX and SPESG options with a premium <$1.00, $0.45 for SPX and SPESG options with a premium of >=$1.00. UBSFS' volume tier for the month was Tier 1. Please note that CBOE in its sole discretion may add, remove, and change volume tiers as well as exchange fees and rebates month-to-month. Overall transaction fees and rebates for CBOE transactions executed by UBSFS will vary month-to-month depending on trading activity level including volume and type of order flow. From time to time, the amount of rebates that UBSFS receives from an exchange may exceed the amount of fees that UBSFS is charged by such exchange. In these limited circumstances, the receipt of net payments from an exchange would constitute payment for order flow. More information about CBOE's pricing schedule is available at: http://www.cboe.com/trading-resources/fee-schedules. UBSFS does not base equities or options order routing decisions on the receipt of payment for order flow. To the extent that any exchange provides UBSFS with a rebate or similar payment, such payments: (i) are provided according to exchange fee schedules and rules approved by the SEC; (ii) are not actively solicited or sought after by UBSFS; (iii) if received, are de minimis; and (iv) do not influence UBSFS's order routing practices, which are determined by UBSFS's duty of best execution. UBSFS effectively manages this potential conflict of interest by (i) providing customer disclosures regarding its payment for order flow practices; (ii) not seeking out or negotiating payments for order flow; and (iii) making order routing determinations wholly independently from any rebates or similar payments that UBSFS may receive.BOX OPTIONS EXCHANGEXBOX11.1418.9113.190.010.000.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.PHILADELPHIA OPTIONS EXCHANGEXPHO4.386.916.900.100.000.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.202412100.0087.616.361.954.08JANE STREET CAPITAL, LLCJNST27.1330.220.310.0114.810.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.KNIGHT LINKKNLI13.8515.081.310.0013.560.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.Citadel Securities LLCCDRG13.6315.091.680.017.600.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.G1 Execution Services, LLCETMM13.5715.120.160.007.620.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.UBS SECURITIES LLCUBSS11.918.0956.9227.3916.650.00000.00000.00000.00000.00000.00000.00000.0000Both UBSFS and UBS Securities LLC (UBSS) are registered broker-dealers that are wholly owned by UBS AG. UBSFS routes most of its customer held orders in NMS stocks to UBSS for further order handling. UBSS may then either route the orders as agent to other venues for execution or, with respect to UBSFS's brokerage customer orders, UBSS may execute such orders on a principal basis, subject to the principles of best execution. When executing UBSFS customer orders as principal, UBSS stands to realize any of the profits or losses generated by this activity. When handling UBSFS customer orders as agent, UBSS may route the orders to other venues, including but not limited to, national securities exchanges and broker-dealers. When UBSS routes orders to certain securities exchanges, UBSS may qualify for volume-based fees and rebates from such exchanges based on the volume-tier schedule published by the exchange. UBSS does not pass any such rebates through to UBSFS. In addition, UBSFS does not receive or make any payment for order flow or have any profit-sharing arrangement with UBSS. For more information about UBSS's routing of its customer orders in NMS securities and the material aspects of its relationships with its identified venues (including rebates received), see UBSS's quarterly public disclosure, available at: https://public.s3.com/rule606/ubss/HUDSON RIVER TRADING (HRT)HRTF8.048.891.220.004.270.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.TWO SIGMA SECURITIES, LLCSOHO4.114.471.180.012.930.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.100.0080.0214.522.013.46JANE STREET CAPITAL, LLCJNST25.3430.670.580.2520.000.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.KNIGHT LINKKNLI13.3715.382.960.1218.300.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.Citadel Securities LLCCDRG13.0915.323.320.1010.200.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.UBS SECURITIES LLCUBSS12.688.2734.9928.3012.510.00000.00000.00000.00000.00000.00000.00000.0000Both UBSFS and UBS Securities LLC (UBSS) are registered broker-dealers that are wholly owned by UBS AG. UBSFS routes most of its customer held orders in NMS stocks to UBSS for further order handling. UBSS may then either route the orders as agent to other venues for execution or, with respect to UBSFS's brokerage customer orders, UBSS may execute such orders on a principal basis, subject to the principles of best execution. When executing UBSFS customer orders as principal, UBSS stands to realize any of the profits or losses generated by this activity. When handling UBSFS customer orders as agent, UBSS may route the orders to other venues, including but not limited to, national securities exchanges and broker-dealers. When UBSS routes orders to certain securities exchanges, UBSS may qualify for volume-based fees and rebates from such exchanges based on the volume-tier schedule published by the exchange. UBSS does not pass any such rebates through to UBSFS. In addition, UBSFS does not receive or make any payment for order flow or have any profit-sharing arrangement with UBSS. For more information about UBSS's routing of its customer orders in NMS securities and the material aspects of its relationships with its identified venues (including rebates received), see UBSS's quarterly public disclosure, available at: https://public.s3.com/rule606/ubss/G1 Execution Services, LLCETMM12.5615.210.270.0910.060.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.HUDSON RIVER TRADING (HRT)HRTF7.778.992.570.096.010.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.TWO SIGMA SECURITIES, LLCSOHO4.074.502.330.043.700.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.NASDAQ - ALL MARKETSXNAS1.910.217.9218.446.240.00000.00000.00000.00000.00000.00000.00000.0000When routing orders to this market center for execution, UBSS may qualify for volume-based fees and rebates based on the volume-tier schedule publicly provided by this market center. However, UBSS does not pass through to UBSFS the rebates or fees applicable to UBSFS's customer orders.99.9852.4612.5330.734.28Susquehanna Investment GroupSIGL31.6826.4617.6047.6522.150.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.CITADEL SECURITIESCDED30.5624.8815.5347.1525.100.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.CBOE OPTIONS EXCHANGECBSX15.4416.4441.073.8111.76-1127.6000-0.9500-810.8500-0.9500-177.1200-0.9500-38.4300-0.9500The net payments reflected above solely include transaction fees paid to and rebates received from the CBOE, by UBSFS, in accordance with CBOE's published volume-tier schedule. At the end of December 2024, UBSFS was charged $0.00 for equity ETF options, $0.45 for SPX and SPESG options with a premium of >=$1.00, $0.00 per share for customer routed ETF, equity, originated on exchange sponsored terminal. UBSFS' volume tier for the month was Tier 1. Please note that CBOE in its sole discretion may add, remove, and change volume tiers as well as exchange fees and rebates month-to-month. Overall transaction fees and rebates for CBOE transactions executed by UBSFS will vary month-to-month depending on trading activity level including volume and type of order flow. From time to time, the amount of rebates that UBSFS receives from an exchange may exceed the amount of fees that UBSFS is charged by such exchange. In these limited circumstances, the receipt of net payments from an exchange would constitute payment for order flow. More information about CBOE's pricing schedule is available at: http://www.cboe.com/trading-resources/fee-schedules. UBSFS does not base equities or options order routing decisions on the receipt of payment for order flow. To the extent that any exchange provides UBSFS with a rebate or similar payment, such payments: (i) are provided according to exchange fee schedules and rules approved by the SEC; (ii) are not actively solicited or sought after by UBSFS; (iii) if received, are de minimis; and (iv) do not influence UBSFS's order routing practices, which are determined by UBSFS's duty of best execution. UBSFS effectively manages this potential conflict of interest by (i) providing customer disclosures regarding its payment for order flow practices; (ii) not seeking out or negotiating payments for order flow; and (iii) making order routing determinations wholly independently from any rebates or similar payments that UBSFS may receive.BOX OPTIONS EXCHANGEXBOX12.0519.8113.000.060.130.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.PHILADELPHIA OPTIONS EXCHANGEXPHO4.136.386.060.060.040.00000.00000.00000.00000.00000.00000.00000.0000UBSFS did not receive any payment or make any payment for order flow or have any profit-sharing arrangement with this venue during the calendar quarter.