1.2COWN202312023-04-28T08:15:43Z202310.000.000.000.000.000.000.000.000.000.00100.000.000.000.00100.00CBOE EDGXEDGX13.690.000.000.0013.690.00000.00000.00000.00000.00000.0000-5854.7700-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
EDGX 0.013509709 1.68%C2 Options Exchange, Inc.C2OX13.550.000.000.0013.550.00000.00000.00000.00000.00000.0000-7976.5800-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
C2OX 0.041325765 6.69%MIAX Emerald, LLC.EMLD12.670.000.000.0012.670.00000.00000.00000.00000.00000.0000-3200.3400-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
EMLD 0.093412655 0.74%NYSE ArcaARCA12.100.000.000.0012.100.00000.00000.00000.00000.00000.0000-6623.0700-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
ARCA 0.087655205 2.41%MIAX Pearl, LLCMPRL9.230.000.000.009.230.00000.00000.00000.00000.00000.0000-6245.2800-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.ISE OptionsISE18.550.000.000.008.550.00000.00000.00000.00000.00000.0000-5711.1000-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
ISE 0.021801228 3.49%Cboe BZX ExchangeBATS7.490.000.000.007.490.00000.00000.00000.00000.00000.0000-1918.5000-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
BATS 0.022205769 8.21%Boston OptionsBOX17.100.000.000.007.100.00000.00000.00000.00000.00000.0000-875.8800-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
BOX 0.127839196 0.10%Nasdaq OMX PHLXPHLX3.120.000.000.003.120.00000.00000.00000.00000.00000.0000-1073.3700-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.NASDAQNASD3.010.000.000.003.010.00000.00000.00000.00000.00000.0000-2675.6400-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.Miami Options ExchangeMIAX2.850.000.000.002.850.00000.00000.00000.00000.00000.0000-885.8700-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.202320.000.000.000.000.000.000.000.000.000.00100.000.000.000.00100.00CBOE EDGXEDGX17.070.000.000.0017.070.00000.00000.00000.00000.00000.0000-4582.8300-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
EDGX 0.013509709 1.68%MIAX Emerald, LLC.EMLD14.300.000.000.0014.300.00000.00000.00000.00000.00000.0000-2513.6700-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
EMLD 0.093412655 0.74%C2 Options Exchange, Inc.C2OX11.090.000.000.0011.090.00000.00000.00000.00000.00000.0000-5438.8500-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
C2OX 0.041325765 6.69%Miami Options ExchangeMIAX9.780.000.000.009.780.00000.00000.00000.00000.00000.0000-355.4100-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.ISE OptionsISE19.210.000.000.009.210.00000.00000.00000.00000.00000.0000-5067.0600-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
ISE 0.021801228 3.49%MIAX Pearl, LLCMPRL7.560.000.000.007.560.00000.00000.00000.00000.00000.0000-6649.4100-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.Cboe BZX ExchangeBATS6.840.000.000.006.840.00000.00000.00000.00000.00000.0000-2358.3900-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
BATS 0.022205769 8.21%NYSE ArcaARCA5.840.000.000.005.840.00000.00000.00000.00000.00000.0000-4613.2200-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
ARCA 0.087655205 2.41%Boston OptionsBOX15.600.000.000.005.600.00000.00000.00000.00000.00000.0000-599.6400-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
BOX 0.127839196 0.10%NASDAQNASD3.570.000.000.003.570.00000.00000.00000.00000.00000.0000-2964.8100-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.Nasdaq OMX PHLXPHLX3.080.000.000.003.080.00000.00000.00000.00000.00000.0000-1056.3900-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.202330.000.000.000.000.000.000.000.000.000.00100.000.000.000.00100.00CBOE EDGXEDGX16.520.000.000.0016.520.00000.00000.00000.00000.00000.0000-8948.3400-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
EDGX 0.013509709 1.68%ISE OptionsISE112.660.000.000.0012.660.00000.00000.00000.00000.00000.0000-5354.4600-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
ISE 0.021801228 3.49%Cboe BZX ExchangeBATS12.210.000.000.0012.210.00000.00000.00000.00000.00000.0000-2148.0000-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
BATS 0.022205769 8.21%C2 Options Exchange, Inc.C2OX11.090.000.000.0011.090.00000.00000.00000.00000.00000.0000-5690.1600-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
C2OX 0.041325765 6.69%MIAX Emerald, LLC.EMLD11.020.000.000.0011.020.00000.00000.00000.00000.00000.0000-1480.1100-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
EMLD 0.093412655 0.74%Boston OptionsBOX17.610.000.000.007.610.00000.00000.00000.00000.00000.0000-437.7600-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
BOX 0.127839196 0.10%MIAX Pearl, LLCMPRL7.510.000.000.007.510.00000.00000.00000.00000.00000.0000-5644.7100-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.NYSE ArcaARCA5.890.000.000.005.890.00000.00000.00000.00000.00000.0000-4764.3000-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading business. This business has a relationship with Wolverine Execution Services (“WEXX”). WEXX provides the Firm with its Order Management System. WEXX also acts as the executing broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution. WEXX is not involved with the decision where to route an order in any manner. The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any costs or rebates associated with Exchange pricing models. The Firm does not maintain any relationship with any exchange or venue where the Firm receives volume discounts. The Firm does not receive any volume discount passed onto it by WEXX.
Destination Per Contract Rebate % of Contracts
ARCA 0.087655205 2.41%NASDAQBXNASD3.310.000.000.003.310.00000.00000.00000.00000.00000.0000-878.6400-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.NASDAQNASD3.220.000.000.003.220.00000.00000.00000.00000.00000.0000-1257.7200-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.Miami Options ExchangeMIAX2.530.000.000.002.530.00000.00000.00000.00000.00000.0000-548.1900-3.0000Cowen and Company, LLC (“Cowen” or the ”Firm”) maintains an institutional options trading
business. This business has a relationship with Wolverine Execution Services (“WEXX”).
WEXX provides the Firm with its Order Management System. WEXX also acts as the executing
broker on all of the Firm’s transactions. Cowen directs all orders to Exchanges for execution.
WEXX is not involved with the decision where to route an order in any manner.
The Firm maintains a billing relationship with WEXX whereby WEXX passes onto the Firm any
costs or rebates associated with Exchange pricing models. The Firm does not maintain any
relationship with any exchange or venue where the Firm receives volume discounts.
The Firm does not receive any volume discount passed onto it by WEXX.