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2017056224801 tastytrade, Inc. CRD 277027 AWC ks.pdf

From January 2020 to January 2023, tastytrade failed to conduct reasonable regular and rigorous reviews to ensure its customers’ equities orders obtained best execution. During this period, the firm routed all customer equity orders exclusively to five market makers that paid for order flow. However, the firm failed to compare the execution quality of its routing arrangements to the execution quality available from competing markets to which it did not route orders.