1.2 Cobra Trading 2024 1 2024-04-24T19:05:28Z 2024 1 51.85 14.67 25.35 59.92 0.06 INSTINET (SMRT) 87.67 13.17 19.53 54.91 0.06 -126.50 -1.7200 -137.80 -1.7200 -32.98 -1.7200 -0.0681 -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. LAMPOST CAPITAL (LAMP) 4.15 0.40 2.81 0.94 0.00 34.63 4.2700 80.92 4.2700 5.79 4.2700 0.0000 4.2700 Cobra Trading LLC paid an average of $0.0427 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) 2.18 0.86 0.67 0.65 0.00 218.93 25.0000 46.79 25.0000 5.51 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) 1.88 0.00 0.83 1.05 0.00 2.72 13.6240 235.52 13.6240 104.18 13.6240 0.0000 13.6240 Cobra Trading LLC paid an average of $0.1362 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. CODA MARKETS, INC. (PSMT) 1.51 0.04 0.57 0.90 0.00 -2.36 -7.0000 -4.81 -7.0000 -1.44 -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) 1.25 0.00 0.76 0.49 0.00 0.00 3.0200 15.68 3.0200 4.38 3.0200 0.0000 3.0200 Cobra Trading LLC paid an average of $0.0302 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. SPEEDROUTE, LLC (SPDRX) 1.09 0.20 0.13 0.77 0.00 8.07 6.2900 4.09 6.2900 8.22 6.2900 0.0000 6.2900 Cobra Trading LLC paid an average of $0.0629 per 100 shares to SPEEDROUTE, LLC (SPDRX) 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. SPEEDROUTE, LLC (REBATE) 0.21 0.00 0.02 0.19 0.00 0.03 1.2800 0.14 1.2800 0.48 1.2800 0.0000 1.2800 Cobra Trading LLC paid an average of $0.0128 per 100 shares to SPEEDROUTE, LLC (REBATE) 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. SPEEDROUTE, LLC (HEAT) 0.04 0.00 0.03 0.01 0.00 0.00 16.0300 4.04 16.0300 0.20 16.0300 0.0000 16.0300 Cobra Trading LLC paid an average of $0.1603 per 100 shares to SPEEDROUTE, LLC (HEAT) 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) 0.01 0.00 0.00 0.00 0.00 0.00 15.0000 0.15 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. DASH FINANCIAL TECHNOLOGIES (STRK) 0.01 0.00 0.00 0.01 0.00 0.00 3.0205 0.00 3.0205 0.00 3.0205 0.0000 3.0205 Cobra Trading LLC paid an average of $0.0302 per 100 shares to DASH FINANCIAL TECHNOLOGIES (STRK) 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. 31.62 14.49 32.97 52.52 0.02 INSTINET (SMRT) 72.40 12.04 22.07 38.27 0.01 -4463.29 -1.7200 -9625.89 -1.7200 -6568.44 -1.7200 -2.7720 -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. LAMPOST CAPITAL (LAMP) 17.56 1.34 7.63 8.58 0.00 1857.17 4.2700 5370.49 4.2700 3446.61 4.2700 0.0000 4.2700 Cobra Trading LLC paid an average of $0.0427 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) 5.73 0.09 2.05 3.59 0.00 1571.76 13.6240 16326.30 13.6240 17023.59 13.6240 0.0000 13.6240 Cobra Trading LLC paid an average of $0.1362 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. SPEEDROUTE, LLC (SPDRX) 1.89 0.26 0.52 1.10 0.01 75.71 6.2900 372.06 6.2900 194.25 6.2900 4.2362 6.2900 Cobra Trading LLC paid an average of $0.0629 per 100 shares to SPEEDROUTE, LLC (SPDRX) 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) 1.25 0.64 0.29 0.32 0.00 3654.68 25.0000 1334.65 25.0000 1421.41 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. (PSMT) 0.53 0.02 0.20 0.31 0.00 -81.91 -7.0000 -44.66 -7.0000 -30.09 -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) 0.24 0.00 0.13 0.11 0.00 0.00 3.0200 18.86 3.0200 2.70 3.0200 0.0000 3.0200 Cobra Trading LLC paid an average of $0.0302 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. SPEEDROUTE, LLC (REBATE) 0.24 0.01 0.05 0.17 0.00 5.67 1.2800 24.97 1.2800 46.32 1.2800 0.0000 1.2800 Cobra Trading LLC paid an average of $0.0128 per 100 shares to SPEEDROUTE, LLC (REBATE) 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) 0.07 0.04 0.01 0.02 0.00 130.94 15.0000 7.64 15.0000 21.76 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. SPEEDROUTE, LLC (HEAT) 0.06 0.00 0.03 0.03 0.00 0.91 16.0300 124.98 16.0300 76.93 16.0300 0.0000 16.0300 Cobra Trading LLC paid an average of $0.1603 per 100 shares to SPEEDROUTE, LLC (HEAT) 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) 0.03 0.02 0.00 0.01 0.00 47.76 3.4200 0.00 3.4200 83.55 3.4200 0.0000 3.4200 Cobra Trading LLC paid an average of $0.0342 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. INSTINET (VWAP) 0.01 0.01 0.00 0.00 0.00 -290.86 -7.0900 0.00 -7.0900 0.00 -7.0900 0.0000 -7.0900 Cobra Trading LLC received an average of $0.0709 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 (STRK) 0.01 0.00 0.00 0.01 0.00 0.01 3.0205 0.02 3.0205 0.03 3.0205 0.0000 3.0205 Cobra Trading LLC paid an average of $0.0302 per 100 shares to DASH FINANCIAL TECHNOLOGIES (STRK) 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. CLEARPOOL EXECUTION SERVICES, LLC (DRK) 0.00 0.00 0.00 0.00 0.00 0.00 17.2900 0.02 17.2900 23.31 17.2900 0.0000 17.2900 Cobra Trading LLC paid an average of $0.1729 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. 93.13 27.71 26.45 45.85 0.00 LAMPOST CAPITAL (LAMP) 69.12 23.66 20.99 24.47 0.00 -2614.36 -7.0000 -2250.15 -7.0000 -1800.96 -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) 30.88 4.04 5.46 21.38 0.00 86.88 9.6314 232.21 9.6314 309.84 9.6314 0.0000 9.6314 For Options, Cobra Trading LLC paid an average of $0.0963 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. 2024 2 57.46 13.98 27.36 58.64 0.03 INSTINET (SMRT) 87.13 12.96 19.84 54.30 0.03 -158.20 -2.8500 -187.78 -2.8500 -37.59 -2.8500 -0.0245 -2.8500 Cobra Trading LLC received an average of $0.0285 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. LAMPOST CAPITAL (LAMP) 6.23 0.28 5.24 0.71 0.00 1.85 5.1400 57.40 5.1400 3.64 5.1400 0.0000 5.1400 Cobra Trading LLC paid an average of $0.0514 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) 2.07 0.01 0.85 1.21 0.00 1.68 11.9290 229.18 11.9290 83.63 11.9290 0.0000 11.9290 Cobra Trading LLC paid an average of $0.1193 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. CODA MARKETS, INC. (PSMT) 2.05 0.07 0.70 1.28 0.00 -1.06 -7.0000 -5.74 -7.0000 -1.55 -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. MERRILL LYNCH PIERCE FENNER & SMITH, INC. (SMART) 1.52 0.62 0.56 0.34 0.00 20.41 25.0000 39.20 25.0000 0.72 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. SPEEDROUTE, LLC (SPDRX) 0.42 0.00 0.02 0.40 0.00 0.01 5.3480 0.29 5.3480 0.95 5.3480 0.0000 5.3480 Cobra Trading LLC paid an average of $0.0535 per 100 shares to SPEEDROUTE, LLC (SPDRX) 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. SPEEDROUTE, LLC (REBATE) 0.38 0.02 0.05 0.31 0.00 0.00 0.1530 0.02 0.1530 0.09 0.1530 0.0000 0.1530 Cobra Trading LLC paid an average of $0.0015 per 100 shares to SPEEDROUTE, LLC (REBATE) 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) 0.20 0.00 0.11 0.09 0.00 0.00 8.1600 3.47 8.1600 1.30 8.1600 0.0000 8.1600 Cobra Trading LLC paid an average of $0.0816 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. 32.01 12.97 35.28 51.74 0.01 INSTINET (SMRT) 68.13 10.79 22.28 35.06 0.01 -7885.98 -2.8500 -15589.46 -2.8500 -11668.83 -2.8500 -0.3543 -2.8500 Cobra Trading LLC received an average of $0.0285 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. LAMPOST CAPITAL (LAMP) 21.15 1.72 8.67 10.76 0.00 2230.65 5.1400 8572.91 5.1400 2205.65 5.1400 0.0000 5.1400 Cobra Trading LLC paid an average of $0.0514 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) 7.26 0.12 3.11 4.04 0.00 525.30 11.9290 15481.70 11.9290 18543.19 11.9290 0.0000 11.9290 Cobra Trading LLC paid an average of $0.1193 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) 1.21 0.18 0.58 0.44 0.00 1103.51 25.0000 2930.68 25.0000 2435.66 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. SPEEDROUTE, LLC (SPDRX) 1.08 0.00 0.24 0.83 0.00 0.73 5.3480 196.24 5.3480 167.67 5.3480 2.1398 5.3480 Cobra Trading LLC paid an average of $0.0535 per 100 shares to SPEEDROUTE, LLC (SPDRX) 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) 0.75 0.04 0.32 0.39 0.00 -205.74 -7.0000 -151.06 -7.0000 -130.80 -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. SPEEDROUTE, LLC (REBATE) 0.13 0.01 0.02 0.10 0.00 0.53 0.1530 0.51 0.1530 2.13 0.1530 0.0000 0.1530 Cobra Trading LLC paid an average of $0.0015 per 100 shares to SPEEDROUTE, LLC (REBATE) 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) 0.08 0.04 0.01 0.03 0.00 84.60 15.0000 11.08 15.0000 35.67 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. DASH FINANCIAL TECHNOLOGIES (DFIN/DASH) 0.07 0.00 0.03 0.03 0.00 1.36 8.1600 15.00 8.1600 4.05 8.1600 0.0000 8.1600 Cobra Trading LLC paid an average of $0.0816 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. SPEEDROUTE, LLC (HEAT) 0.06 0.02 0.02 0.02 0.00 41.69 4.9000 19.42 4.9000 4.41 4.9000 0.0000 4.9000 Cobra Trading LLC paid an average of $0.049 per 100 shares to SPEEDROUTE, LLC (HEAT) 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) 0.05 0.02 0.00 0.03 0.00 -0.18 -0.0070 0.00 -0.0070 -0.17 -0.0070 0.0000 -0.0070 Cobra Trading LLC received an average of $0.0001 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) 0.02 0.01 0.00 0.01 0.00 -116.78 -4.2000 0.00 -4.2000 -33.85 -4.2000 0.0000 -4.2000 Cobra Trading LLC received an average of $0.042 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 (STRK) 0.01 0.00 0.00 0.01 0.00 0.82 8.1600 1.72 8.1600 1.63 8.1600 0.0000 8.1600 Cobra Trading LLC paid an average of $0.0816 per 100 shares to DASH FINANCIAL TECHNOLOGIES (STRK) 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. CLEARPOOL EXECUTION SERVICES, LLC (DRK) 0.00 0.00 0.00 0.00 0.00 0.00 18.1801 1.91 18.1801 7.50 18.1801 0.0000 18.1801 Cobra Trading LLC paid an average of $0.1818 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. 93.44 26.29 20.73 52.98 0.00 LAMPOST CAPITAL (LAMP) 64.22 20.91 14.35 28.96 0.00 -1028.93 -7.0000 -1790.74 -7.0000 -1395.17 -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) 35.78 5.38 6.38 24.02 0.00 -0.01 -0.0008 -0.02 -0.0008 -0.02 -0.0008 0.0000 -0.0008 For Options, Cobra Trading LLC received an average of $0 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. 2024 3 56.59 20.63 30.01 49.32 0.05 INSTINET (SMRT) 84.04 18.34 22.43 43.22 0.05 -206.56 -2.9600 -204.19 -2.9600 -42.19 -2.9600 -0.1899 -2.9600 Cobra Trading LLC received an average of $0.0296 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. LAMPOST CAPITAL (LAMP) 9.20 2.22 4.87 2.11 0.00 55.58 4.4900 61.46 4.4900 6.80 4.4900 0.0000 4.4900 Cobra Trading LLC paid an average of $0.0449 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) 3.56 0.01 1.37 2.18 0.00 0.00 0.0000 0.00 0.0000 0.00 0.0000 0.0000 0.0000 Cobra Trading LLC paid an average of $0 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) 1.96 0.02 0.93 1.01 0.00 0.34 25.0000 38.41 25.0000 8.94 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. (PSMT) 0.50 0.01 0.26 0.23 0.00 -0.42 -7.0000 -0.70 -7.0000 -0.17 -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. SPEEDROUTE, LLC (REBATE) 0.31 0.01 0.02 0.29 0.00 0.42 16.4200 3.05 16.4200 13.05 16.4200 0.0000 16.4200 Cobra Trading LLC paid an average of $0.1642 per 100 shares to SPEEDROUTE, LLC (REBATE) 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) 0.20 0.01 0.11 0.08 0.00 0.00 5.0900 6.19 5.0900 4.02 5.0900 0.0000 5.0900 Cobra Trading LLC paid an average of $0.0509 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. SPEEDROUTE, LLC (SPDRX) 0.19 0.00 0.01 0.18 0.00 0.00 -0.3700 -0.01 -0.3700 -0.06 -0.3700 0.0000 -0.3700 Cobra Trading LLC received an average of $0.0037 per 100 shares from SPEEDROUTE, LLC (SPDRX). 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. SPEEDROUTE, LLC (HEAT) 0.03 0.00 0.02 0.01 0.00 0.00 15.6200 2.77 15.6200 1.12 15.6200 0.0000 15.6200 Cobra Trading LLC paid an average of $0.1562 per 100 shares to SPEEDROUTE, LLC (HEAT) 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) 0.01 0.00 0.00 0.00 0.00 0.60 15.0000 0.04 15.0000 0.02 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) 0.00 0.00 0.00 0.00 0.00 0.00 0.9400 0.00 0.9400 0.00 0.9400 0.0000 0.9400 Cobra Trading LLC paid an average of $0.0094 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. 23.24 13.66 32.76 53.57 0.01 INSTINET (SMRT) 67.42 11.19 20.13 36.09 0.01 -7634.67 -2.9600 -14494.17 -2.9600 -10509.71 -2.9600 -9.1212 -2.9600 Cobra Trading LLC received an average of $0.0296 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. LAMPOST CAPITAL (LAMP) 19.38 2.09 8.58 8.70 0.00 2478.53 4.4900 10738.25 4.4900 4362.20 4.4900 0.0000 4.4900 Cobra Trading LLC paid an average of $0.0449 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) 8.92 0.09 2.37 6.46 0.00 0.00 0.0000 0.00 0.0000 0.00 0.0000 0.0000 0.0000 Cobra Trading LLC paid an average of $0 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) 1.72 0.07 0.81 0.84 0.00 165.19 25.0000 3038.17 25.0000 3736.97 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. SPEEDROUTE, LLC (SPDRX) 1.16 0.00 0.32 0.84 0.00 0.00 -0.3700 -21.38 -0.3700 -16.87 -0.3700 -0.0429 -0.3700 Cobra Trading LLC received an average of $0.0037 per 100 shares from SPEEDROUTE, LLC (SPDRX). 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) 0.76 0.03 0.41 0.32 0.00 -254.06 -7.0000 -1032.87 -7.0000 -4344.02 -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. SPEEDROUTE, LLC (REBATE) 0.22 0.01 0.04 0.17 0.00 27.73 16.4200 133.86 16.4200 220.33 16.4200 0.0000 16.4200 Cobra Trading LLC paid an average of $0.1642 per 100 shares to SPEEDROUTE, LLC (REBATE) 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) 0.16 0.00 0.07 0.09 0.00 0.00 5.0900 227.21 5.0900 1640.36 5.0900 0.0000 5.0900 Cobra Trading LLC paid an average of $0.0509 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) 0.15 0.13 0.01 0.01 0.00 260.53 15.0000 32.40 15.0000 43.84 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. SPEEDROUTE, LLC (HEAT) 0.07 0.00 0.04 0.04 0.00 0.94 15.6200 164.33 15.6200 69.94 15.6200 0.0000 15.6200 Cobra Trading LLC paid an average of $0.1562 per 100 shares to SPEEDROUTE, LLC (HEAT) 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) 0.03 0.02 0.00 0.01 0.00 21.27 0.9400 0.00 0.9400 8.92 0.9400 0.0000 0.9400 Cobra Trading LLC paid an average of $0.0094 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. INSTINET (VWAP) 0.02 0.02 0.00 0.00 0.00 0.00 0.0000 0.00 0.0000 0.00 0.0000 0.0000 0.0000 Cobra Trading LLC paid an average of $0 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. CLEARPOOL EXECUTION SERVICES, LLC (DRK) 0.01 0.00 0.00 0.00 0.00 0.00 18.0000 7.48 18.0000 17.84 18.0000 0.0000 18.0000 Cobra Trading LLC paid an average of $0.18 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. 92.51 28.03 21.69 50.28 0.00 LAMPOST CAPITAL (LAMP) 63.64 23.90 11.54 28.20 0.00 -2546.53 -7.0000 -1906.59 -7.0000 -2174.62 -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) 36.36 4.13 10.15 22.07 0.00 -109.50 -12.0600 -795.24 -12.0600 -819.60 -12.0600 0.0000 -12.0600 For Options, Cobra Trading LLC received an average of $0.1206 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.