Securities and Exchange Commission Rule 605 requires market centers that trade national market system securities disclose order execution electronic reports on a monthly basis. These reports will disclose, on a stock-by-stock basis, the previous month’s executions on the MIAX Pearl Equities Exchange.
The information in the MIAX Pearl Equities 605 reports may be different than data displayed by other market centers due to differences in market structures and computation methods.
The data used for the reports has not been audited and may contain errors; therefore, the Exchange has prepared these reports in compliance with Rule 605 on a best-efforts basis. Accordingly, any decision on whether to send orders to the MIAX Pearl Equities Exchange should not be solely based on the data provided in these reports.