1.2 Cobra Trading 2025 2 2025-07-31T13:46:32Z 2025 4 7.80 24.54 44.19 31.27 0.00 LAMPOST CAPITAL (LAMP) 58.59 22.49 24.50 11.59 0.00 11.33 0.1505 2.37 0.1505 0.33 0.1505 0.0000 0.1505 Cobra Trading LLC paid an average of $0.0015 per 100 shares to LAMPOST CAPITAL (LAMP) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. VIRTU AMERICAS, LLC. (FAN) 28.18 0.08 14.68 13.42 0.00 0.86 0.8090 32.09 0.8090 3.90 0.8090 0.0000 0.8090 Cobra Trading LLC paid an average of $0.0081 per 100 shares to VIRTU AMERICAS, LLC. (FAN) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) 7.91 1.49 3.43 2.99 0.00 44.29 25.0000 128.77 25.0000 29.14 25.0000 0.0000 25.0000 Cobra Trading LLC paid an average of $0.25 per 100 shares to MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (SMRT) 4.68 0.02 1.49 3.17 0.00 -0.33 -3.8900 -19.62 -3.8900 -15.62 -3.8900 0.0000 -3.8900 Cobra Trading LLC received an average of $0.0389 per 100 shares from INSTINET (SMRT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PSMT) 0.40 0.26 0.08 0.06 0.00 -1.82 -7.0000 -5.46 -7.0000 0.00 -7.0000 0.0000 -7.0000 Cobra Trading LLC received an average of $0.07 per 100 shares from CODA MARKETS, INC. (PSMT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PMID) 0.16 0.16 0.00 0.00 0.00 0.90 15.0000 0.00 15.0000 0.00 15.0000 0.0000 15.0000 Cobra Trading LLC paid an average of $0.15 per 100 shares to CODA MARKETS, INC. (PMID) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (TWAP) 0.08 0.04 0.00 0.04 0.00 -0.03 -0.2400 0.00 -0.2400 0.00 -0.2400 0.0000 -0.2400 Cobra Trading LLC received an average of $0.0024 per 100 shares from INSTINET (TWAP). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. 8.28 13.30 39.33 47.37 0.00 LAMPOST CAPITAL (LAMP) 44.76 9.15 21.25 14.35 0.00 175.66 0.1505 338.49 0.1505 82.37 0.1505 0.0000 0.1505 Cobra Trading LLC paid an average of $0.0015 per 100 shares to LAMPOST CAPITAL (LAMP) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. VIRTU AMERICAS, LLC. (FAN) 26.88 0.73 8.14 18.01 0.00 127.56 0.8090 786.88 0.8090 832.95 0.8090 0.0000 0.8090 Cobra Trading LLC paid an average of $0.0081 per 100 shares to VIRTU AMERICAS, LLC. (FAN) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (SMRT) 19.23 0.02 7.05 12.16 0.00 -27.83 -3.8900 -27642.27 -3.8900 -23350.93 -3.8900 -27.3925 -3.8900 Cobra Trading LLC received an average of $0.0389 per 100 shares from INSTINET (SMRT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) 5.19 0.57 2.42 2.19 0.00 808.83 25.0000 2135.79 25.0000 676.59 25.0000 0.0000 25.0000 Cobra Trading LLC paid an average of $0.25 per 100 shares to MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PMID) 2.84 2.76 0.01 0.06 0.00 944.15 15.0000 9.39 15.0000 64.34 15.0000 0.0000 15.0000 Cobra Trading LLC paid an average of $0.15 per 100 shares to CODA MARKETS, INC. (PMID) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PSMT) 0.71 0.00 0.38 0.33 0.00 -0.42 -7.0000 -73.08 -7.0000 -45.05 -7.0000 0.0000 -7.0000 Cobra Trading LLC received an average of $0.07 per 100 shares from CODA MARKETS, INC. (PSMT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CLEARPOOL EXECUTION SERVICES, LLC (DRK) 0.15 0.00 0.04 0.11 0.00 0.17 17.0000 40.58 17.0000 145.16 17.0000 0.0000 17.0000 Cobra Trading LLC paid an average of $0.17 per 100 shares to CLEARPOOL EXECUTION SERVICES, LLC (DRK) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) 0.11 0.01 0.03 0.08 0.00 0.00 29.8000 16.79 29.8000 12.73 29.8000 0.0000 29.8000 Cobra Trading LLC paid an average of $0.298 per 100 shares to DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (TWAP) 0.10 0.04 0.00 0.06 0.00 -1.90 -0.2400 0.00 -0.2400 -10.39 -0.2400 0.0000 -0.2400 Cobra Trading LLC received an average of $0.0024 per 100 shares from INSTINET (TWAP). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (VWAP) 0.04 0.02 0.00 0.02 0.00 3.53 0.8700 0.00 0.8700 6.03 0.8700 0.0000 0.8700 Cobra Trading LLC paid an average of $0.0087 per 100 shares to INSTINET (VWAP) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. 96.29 27.98 22.75 49.27 0.00 LAMPOST CAPITAL (LAMP) 83.02 27.35 17.98 37.69 0.00 -6298.88 -7.0000 -6542.27 -7.0000 -5731.95 -7.0000 0.0000 -7.0000 For Options, Cobra Trading LLC received an average of $0.07 per 100 contracts from LAMPOST CAPITAL (LAMP). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) 16.98 0.63 4.77 11.58 0.00 -365.46 -7.5727 -4390.20 -7.5727 -978.24 -7.5727 0.0000 -7.5727 For Options, Cobra Trading LLC received an average of $0.0757 per 100 contracts from DASH FINANCIAL TECHNOLOGIES (DFIN/DASH). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. 2025 5 5.81 13.74 55.21 31.01 0.03 LAMPOST CAPITAL (LAMP) 44.69 4.80 25.91 13.98 0.00 28.20 7.4500 122.65 7.4500 6.43 7.4500 0.0000 7.4500 Cobra Trading LLC paid an average of $0.0745 per 100 shares to LAMPOST CAPITAL (LAMP) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. VIRTU AMERICAS, LLC. (FAN) 33.96 0.07 23.10 10.80 0.00 3.43 2.7200 90.51 2.7200 5.47 2.7200 0.0000 2.7200 Cobra Trading LLC paid an average of $0.0272 per 100 shares to VIRTU AMERICAS, LLC. (FAN) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) 13.57 7.51 3.91 2.16 0.00 47.77 25.0000 38.50 25.0000 5.00 25.0000 0.0000 25.0000 Cobra Trading LLC paid an average of $0.25 per 100 shares to MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (SMRT) 7.03 0.65 2.26 4.08 0.03 -1.14 -1.7200 -11.95 -1.7200 -7.91 -1.7200 -0.0931 -1.7200 Cobra Trading LLC received an average of $0.0172 per 100 shares from INSTINET (SMRT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PMID) 0.69 0.69 0.00 0.00 0.00 0.33 15.0000 0.00 15.0000 0.00 15.0000 0.0000 15.0000 Cobra Trading LLC paid an average of $0.15 per 100 shares to CODA MARKETS, INC. (PMID) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PSMT) 0.07 0.03 0.03 0.00 0.00 -0.14 -7.0000 -0.28 -7.0000 0.00 -7.0000 0.0000 -7.0000 Cobra Trading LLC received an average of $0.07 per 100 shares from CODA MARKETS, INC. (PSMT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. 7.58 7.87 41.33 50.78 0.02 LAMPOST CAPITAL (LAMP) 40.57 5.14 22.34 13.10 0.00 12619.57 7.4500 27373.23 7.4500 7496.31 7.4500 0.0000 7.4500 Cobra Trading LLC paid an average of $0.0745 per 100 shares to LAMPOST CAPITAL (LAMP) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. VIRTU AMERICAS, LLC. (FAN) 32.67 0.30 8.67 23.70 0.00 560.11 2.7200 4909.76 2.7200 5102.16 2.7200 0.0000 2.7200 Cobra Trading LLC paid an average of $0.0272 per 100 shares to VIRTU AMERICAS, LLC. (FAN) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (SMRT) 19.70 0.06 7.92 11.71 0.02 -12.88 -1.7200 -4971.27 -1.7200 -3933.29 -1.7200 -16.2317 -1.7200 Cobra Trading LLC received an average of $0.0172 per 100 shares from INSTINET (SMRT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) 4.08 0.81 1.84 1.43 0.00 859.28 25.0000 4057.45 25.0000 971.11 25.0000 0.0000 25.0000 Cobra Trading LLC paid an average of $0.25 per 100 shares to MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PMID) 1.51 1.46 0.00 0.04 0.00 645.26 15.0000 0.77 15.0000 66.86 15.0000 0.0000 15.0000 Cobra Trading LLC paid an average of $0.15 per 100 shares to CODA MARKETS, INC. (PMID) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PSMT) 0.82 0.00 0.50 0.32 0.00 -0.21 -7.0000 -89.25 -7.0000 -51.70 -7.0000 0.0000 -7.0000 Cobra Trading LLC received an average of $0.07 per 100 shares from CODA MARKETS, INC. (PSMT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CLEARPOOL EXECUTION SERVICES, LLC (DRK) 0.39 0.00 0.05 0.34 0.00 0.00 16.4700 68.84 16.4700 79.42 16.4700 0.0000 16.4700 Cobra Trading LLC paid an average of $0.1647 per 100 shares to CLEARPOOL EXECUTION SERVICES, LLC (DRK) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (VWAP) 0.11 0.04 0.00 0.06 0.00 -218.44 -6.8100 -0.07 -6.8100 -3174.80 -6.8100 0.0000 -6.8100 Cobra Trading LLC received an average of $0.0681 per 100 shares from INSTINET (VWAP). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) 0.08 0.01 0.01 0.05 0.00 2.27 32.4500 51.14 32.4500 46.66 32.4500 0.0000 32.4500 Cobra Trading LLC paid an average of $0.3245 per 100 shares to DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (TWAP) 0.08 0.04 0.00 0.03 0.00 -10.87 -4.9600 -0.71 -4.9600 -105.80 -4.9600 0.0000 -4.9600 Cobra Trading LLC received an average of $0.0496 per 100 shares from INSTINET (TWAP). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. 85.01 31.62 19.03 49.35 0.00 LAMPOST CAPITAL (LAMP) 80.51 30.75 13.90 35.85 0.00 -5139.68 -7.0000 -3673.53 -7.0000 -3455.83 -7.0000 0.0000 -7.0000 For Options, Cobra Trading LLC received an average of $0.07 per 100 contracts from LAMPOST CAPITAL (LAMP). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) 19.49 0.87 5.13 13.49 0.00 -775.66 -18.6636 -2805.14 -18.6636 -2637.35 -18.6636 0.0000 -18.6636 For Options, Cobra Trading LLC received an average of $0.1866 per 100 contracts from DASH FINANCIAL TECHNOLOGIES (DFIN/DASH). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. 2025 6 4.37 22.37 48.61 28.81 0.21 LAMPOST CAPITAL (LAMP) 34.95 6.86 20.67 7.42 0.00 1.84 6.4200 45.34 6.4200 2.29 6.4200 0.0000 6.4200 Cobra Trading LLC paid an average of $0.0642 per 100 shares to LAMPOST CAPITAL (LAMP) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) 30.05 7.47 18.87 3.71 0.00 35.33 25.0000 115.40 25.0000 10.80 25.0000 0.0000 25.0000 Cobra Trading LLC paid an average of $0.25 per 100 shares to MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. VIRTU AMERICAS, LLC. (FAN) 26.13 4.64 7.32 14.18 0.00 0.62 3.9150 40.69 3.9150 15.98 3.9150 0.0000 3.9150 Cobra Trading LLC paid an average of $0.0391 per 100 shares to VIRTU AMERICAS, LLC. (FAN) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (SMRT) 6.70 1.24 1.75 3.51 0.21 -0.48 -2.3300 -1.73 -2.3300 -0.78 -2.3300 -0.0056 -2.3300 Cobra Trading LLC received an average of $0.0233 per 100 shares from INSTINET (SMRT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (TWAP) 1.13 1.13 0.00 0.00 0.00 0.37 0.7300 0.00 0.7300 0.00 0.7300 0.0000 0.7300 Cobra Trading LLC paid an average of $0.0073 per 100 shares to INSTINET (TWAP) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PSMT) 0.41 0.41 0.00 0.00 0.00 -0.14 -7.0000 0.00 -7.0000 0.00 -7.0000 0.0000 -7.0000 Cobra Trading LLC received an average of $0.07 per 100 shares from CODA MARKETS, INC. (PSMT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) 0.36 0.36 0.00 0.00 0.00 0.02 33.9600 0.00 33.9600 0.00 33.9600 0.0000 33.9600 Cobra Trading LLC paid an average of $0.3396 per 100 shares to DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PMID) 0.26 0.26 0.00 0.00 0.00 0.01 15.0000 0.00 15.0000 0.00 15.0000 0.0000 15.0000 Cobra Trading LLC paid an average of $0.15 per 100 shares to CODA MARKETS, INC. (PMID) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. 8.70 7.64 42.37 49.97 0.02 LAMPOST CAPITAL (LAMP) 38.87 5.64 22.87 10.35 0.00 6464.36 6.4200 17429.20 6.4200 3798.56 6.4200 0.0000 6.4200 Cobra Trading LLC paid an average of $0.0642 per 100 shares to LAMPOST CAPITAL (LAMP) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. VIRTU AMERICAS, LLC. (FAN) 32.35 0.45 8.86 23.05 0.00 774.13 3.9150 6940.68 3.9150 5859.18 3.9150 0.0000 3.9150 Cobra Trading LLC paid an average of $0.0391 per 100 shares to VIRTU AMERICAS, LLC. (FAN) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (SMRT) 23.60 0.12 8.44 15.03 0.02 -23.08 -2.3300 -5381.80 -2.3300 -5126.72 -2.3300 -4.8195 -2.3300 Cobra Trading LLC received an average of $0.0233 per 100 shares from INSTINET (SMRT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) 3.71 0.55 1.97 1.20 0.00 577.23 25.0000 5647.92 25.0000 958.20 25.0000 0.0000 25.0000 Cobra Trading LLC paid an average of $0.25 per 100 shares to MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PMID) 0.89 0.79 0.03 0.07 0.00 187.06 15.0000 23.66 15.0000 204.17 15.0000 0.0000 15.0000 Cobra Trading LLC paid an average of $0.15 per 100 shares to CODA MARKETS, INC. (PMID) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CODA MARKETS, INC. (PSMT) 0.27 0.01 0.18 0.08 0.00 -0.22 -7.0000 -77.80 -7.0000 -134.14 -7.0000 0.0000 -7.0000 Cobra Trading LLC received an average of $0.07 per 100 shares from CODA MARKETS, INC. (PSMT). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. CLEARPOOL EXECUTION SERVICES, LLC (DRK) 0.14 0.02 0.01 0.11 0.00 74.87 146.4600 212.38 146.4600 476.23 146.4600 0.0000 146.4600 Cobra Trading LLC paid an average of $1.4646 per 100 shares to CLEARPOOL EXECUTION SERVICES, LLC (DRK) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (TWAP) 0.09 0.04 0.00 0.05 0.00 4.02 0.7300 0.00 0.7300 21.92 0.7300 0.0000 0.7300 Cobra Trading LLC paid an average of $0.0073 per 100 shares to INSTINET (TWAP) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) 0.05 0.01 0.01 0.03 0.00 0.01 33.9600 43.49 33.9600 36.85 33.9600 0.0000 33.9600 Cobra Trading LLC paid an average of $0.3396 per 100 shares to DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. INSTINET (VWAP) 0.04 0.03 0.00 0.01 0.00 49.98 2.3300 0.00 2.3300 2.26 2.3300 0.0000 2.3300 Cobra Trading LLC paid an average of $0.0233 per 100 shares to INSTINET (VWAP) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. 86.04 20.50 15.71 63.79 0.00 LAMPOST CAPITAL (LAMP) 81.32 19.52 11.38 50.43 0.00 -2312.38 -7.0000 -2266.60 -7.0000 -3271.73 -7.0000 0.0000 -7.0000 For Options, Cobra Trading LLC received an average of $0.07 per 100 contracts from LAMPOST CAPITAL (LAMP). The amount reflects the net economic benefit to Cobra Trading in connection with the routing of customer orders to that venue. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions. DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) 18.68 0.98 4.33 13.36 0.00 293.47 9.8547 1384.39 9.8547 2160.74 9.8547 0.0000 9.8547 For Options, Cobra Trading LLC paid an average of $0.0985 per 100 contracts to DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) in connection with orders routed by the firm to that venue. The amount reflects the net economic cost to Cobra Trading of accessing that venue's order execution services. Payment levels may have varied during the period depending on order volume, order type, pricing tier, or other commercially negotiated terms that may have influenced routing decisions.