VENUE INTEL / EXECUTION CODES

Execution Codes Explorer

732 native liquidity indicator codes across 16 US NMS-equity exchanges, faceted for the fee-key thesis. Filter by venue, role, session, display state, and Rule 610-relevant sub-dollar treatment.

SNAPSHOT · 2026-08-19 · 732 rows · 217 priced to a verified rate

VENUE

ROLE

SESSION

DISPLAY

SUB DOLLAR

732 of 732 codespage 1 of 8

VENUE	CODE	DESCRIPTION	ROLE	SESSION	DISPLAY	FEE LINE	PROTOCOL / SOURCE	FACETS
ARCA	A	Add Regular Limit Order	ADD	CORE	DISPLAYED	($0.0020)add	NYSE Pillar
ARCA	AZ	Add Sub Dollar Execution	ADD	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1
ARCA	AML	Add MPL Order (when MPL Order is providing liquidity at the midpoint)	ADD	CORE	NON_DISPLAYED	non_displayed_add	NYSE Pillar	MIDPOINTMPL
ARCA	AMZ	Add MPL Sub Dollar Execution (when MPL Order is providing liquidity at the midpoint)	ADD	CORE	NON_DISPLAYED	sub_dollar	NYSE Pillar	SUB $1MIDPOINTMPL
ARCA	AND	Add Non-Displayed Order (and MPL Order when it provides liquidity at a price other than the midpoint)	ADD	CORE	NON_DISPLAYED	non_displayed_add	NYSE Pillar	MIDPOINTMPL
ARCA	ANZ	Add Non-Displayed Sub Dollar Execution (and MPL Order Sub Dollar when it provides liquidity at a price other than the midpoint)	ADD	CORE	NON_DISPLAYED	sub_dollar	NYSE Pillar	SUB $1MIDPOINTMPL
ARCA	AB	Add Non-routable Limit Order – Working at different price than display price at time of execution	ADD	CORE	DISPLAYED	($0.0020)add	NYSE Pillar
ARCA	AT	Add Tracking Order	ADD	CORE	DISPLAYED	modified_add	NYSE Pillar	TRACKING
ARCA	ASB	Add Limit Order Setting New BBO	ADD	CORE	DISPLAYED	($0.0020)add	NYSE Pillar
ARCA	ARE	Add Retail Provider (Tag 57 = RET)	ADD	CORE	DISPLAYED	($0.0032)add retail~	NYSE Pillar	RETAIL_PROVIDER
ARCA	AREI	Add Retail Provider; both orders with same MPID & Tag 57=RET	ADD	CORE	DISPLAYED	($0.0032)add retail~	NYSE Pillar	RETAIL_PROVIDER
ARCA	AREZ	Add Retail Provider Sub Dollar (Tag 57 = RET)	ADD	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1RETAIL_PROVIDER
ARCA	ARIZ	Add Retail Provider; both orders with same MPID & Tag 57=RET, Sub Dollar	ADD	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1RETAIL_PROVIDER
ARCA	ADB	Add Discretionary Peg Order – at prices between the same side PBBO and midpoint	ADD	CORE	DISPLAYED	modified_add	NYSE Pillar	MIDPOINTDISCRETIONARY_PEG
ARCA	ADM	Add Discretionary Peg Order – at the midpoint	ADD	CORE	DISPLAYED	modified_add	NYSE Pillar	MIDPOINTDISCRETIONARY_PEG
ARCA	ADZ	Add Discretionary Peg Order – at the same side PBBO or below same side PBBO	ADD	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1DISCRETIONARY_PEG
ARCA	R	Remove Regular Limit or Market	REMOVE	CORE	DISPLAYED	$0.0030take	NYSE Pillar
ARCA	RR	Remove Regular Limit or Market at or above $1.00 & Tag 57 = RET	REMOVE	CORE	DISPLAYED	$0.0030take	NYSE Pillar
ARCA	RZ	Remove Sub Dollar	REMOVE	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1
ARCA	RRZ	Remove & Tag 57 = RET, Sub Dollar	REMOVE	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1
ARCA	RI	Remove Regular Limit IOC	REMOVE	CORE	DISPLAYED	modified_remove	NYSE Pillar	IOC
ARCA	RIR	Remove Limit IOC & Tag 57 = RET	REMOVE	CORE	DISPLAYED	modified_remove	NYSE Pillar	IOC
ARCA	RIZ	Remove Sub Dollar IOC	REMOVE	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1IOC
ARCA	RIRZ	Remove Limit IOC & Tag 57 = RET, Sub Dollar	REMOVE	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1IOC
ARCA	RML	Remove MPL Order (only when executed at the midpoint)	REMOVE	CORE	NON_DISPLAYED	non_displayed_remove	NYSE Pillar	MIDPOINTMPL
ARCA	RMZ	Remove Sub Dollar MPL Order	REMOVE	CORE	NON_DISPLAYED	sub_dollar	NYSE Pillar	SUB $1MPL
ARCA	RBN	Remove when executing at prices better than the contra-side NBBO - for orders qualifying as R, RI or RND	REMOVE	CORE	DISPLAYED	$0.0030take	NYSE Pillar
ARCA	RBD	Remove when executing at prices better than the contra-side NBBO - for orders qualifying as RR or RNDR (DAY orders with retail indicator)	REMOVE	CORE	DISPLAYED	$0.0030take	NYSE Pillar
ARCA	RBI	Remove when executing at prices better than the contra side NBBO - for orders qualifying as RIR (IOC orders with retail indicator)	REMOVE	CORE	DISPLAYED	modified_remove	NYSE Pillar	IOC
ARCA	RBNZ	Remove when executing at prices better than the contra-side NBBO Sub Dollar - for orders qualifying as RZ, RIZ or RNZ	REMOVE	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1
ARCA	RBDZ	Remove when executing at prices better than the contra-side NBBO - for orders qualifying as RRZ or RNRZ (DAY orders with retail indicator), Sub Dollar	REMOVE	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1
ARCA	RBIZ	Remove when executing at prices better than the contra-side NBBO - for orders qualifying as RIRZ (IOC orders with retail indicator), Sub Dollar	REMOVE	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1IOC
ARCA	RND	Remove Non-Displayed Order	REMOVE	CORE	NON_DISPLAYED	non_displayed_remove	NYSE Pillar
ARCA	RNDR	Remove Non-Displayed Order & Tag 57 = RET	REMOVE	CORE	NON_DISPLAYED	non_displayed_remove	NYSE Pillar
ARCA	RNZ	Remove Non-Displayed Sub Dollar Execution	REMOVE	CORE	NON_DISPLAYED	sub_dollar	NYSE Pillar	SUB $1
ARCA	RNRZ	Remove Non-Displayed Order & Tag 57 = RET, Sub Dollar	REMOVE	CORE	NON_DISPLAYED	sub_dollar	NYSE Pillar	SUB $1
ARCA	RRM	Remove MPL Retail Taker (Tag 57 = RET)	REMOVE	CORE	NON_DISPLAYED	non_displayed_remove	NYSE Pillar	MPL
ARCA	RDB	Remove Discretionary Peg Order – on arrival/re-sweeping at prices other than midpoint	REMOVE	CORE	DISPLAYED	modified_remove	NYSE Pillar	MIDPOINTDISCRETIONARY_PEG
ARCA	RDM	Remove Discretionary Peg Order – on arrival/re-sweeping at the midpoint	REMOVE	CORE	DISPLAYED	modified_remove	NYSE Pillar	MIDPOINTDISCRETIONARY_PEG
ARCA	RDZ	Remove Discretionary Peg Order – on arrival/re-sweeping at same side PBBO or below same side PBBO	REMOVE	CORE	DISPLAYED	sub_dollar	NYSE Pillar	SUB $1DISCRETIONARY_PEG
ARCA	OM	Market Day and MOO	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	OMR	Market Day and MOO orders & Tag 57 = RET	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	OMZ	Market Day and MOO - Sub Dollar	AUCTION	CORE		$0.0015auction~	NYSE Pillar	SUB $1
ARCA	OL	Limit orders and additional manual PRIN interest	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	OLZ	Limit orders and additional manual PRIN interest - Sub Dollar	AUCTION	CORE		$0.0015auction~	NYSE Pillar	SUB $1
ARCA	O	LOO and Opening D-Order	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	OR	LOO and Opening D Order & Tag 57 = RET	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	OZ	LOO and Opening D-Order - Sub Dollar	AUCTION	CORE		$0.0015auction~	NYSE Pillar	SUB $1
ARCA	OIO	Imbalance Offset	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	OIOZ	Sub-Dollar Imbalance Offset	AUCTION	CORE		$0.0015auction~	NYSE Pillar	SUB $1
ARCA	CM	Market Day and MOC	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	CMR	Market Day and MOC orders & Tag 57 = RET	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	CMZ	Market Day and MOC - Sub Dollar	AUCTION	CORE		$0.0015auction~	NYSE Pillar	SUB $1
ARCA	CL	Limit and Additional manual PRIN interest	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	CLZ	Limit and Additional manual PRIN interest - Sub Dollar	AUCTION	CORE		$0.0015auction~	NYSE Pillar	SUB $1
ARCA	C	Limit on Close orders	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	CR	Limit on Close orders & Tag 57 = RET	AUCTION	CORE		$0.0015auction~	NYSE Pillar
ARCA	CZ	Limit on Close orders - Sub Dollar	AUCTION	CORE		$0.0015auction~	NYSE Pillar	SUB $1
ARCA	XN	Routed – NYSE Equities Execution	ROUTE	CORE		route	NYSE Pillar	→ XNYS
ARCA	XA	Routed – NYSE American Equities Execution	ROUTE	CORE		route	NYSE Pillar	→ XASE
ARCA	XC	Routed – NYSE National Equities Execution	ROUTE	CORE		route	NYSE Pillar	→ XCIS
ARCA	XM	Routed – NYSE Texas Equities Execution	ROUTE	CORE		route	NYSE Pillar	→ XCHI
ARCA	XNO	Routed to NYSE Equities Opening/Reopening Auction	AUCTION	CORE		route	NYSE Pillar
ARCA	XAO	Routed to NYSE American Equities Opening/Reopening Auction	AUCTION	CORE		route	NYSE Pillar
ARCA	X	Routed – Away Market Execution, Non- NYSE Group	ROUTE	CORE		route	NYSE Pillar	→ XNYS
ARCA	XNZ	Routed – NYSE Equities Sub Dollar Execution	ROUTE	CORE		route	NYSE Pillar	SUB $1→ XNYS
ARCA	XAZ	Routed – NYSE American Equities Sub Dollar Execution	ROUTE	CORE		route	NYSE Pillar	SUB $1→ XASE
ARCA	XCZ	Routed – NYSE National Equities Sub Dollar Execution	ROUTE	CORE		route	NYSE Pillar	SUB $1→ XCIS
ARCA	XMZ	Routed – NYSE Texas Equities Sub Dollar Execution	ROUTE	CORE		route	NYSE Pillar	SUB $1→ XCHI
ARCA	XZ	Routed – Away Market Sub Dollar Execution, Non- NYSE Group	ROUTE	CORE		route	NYSE Pillar	SUB $1→ XNYS
ARCA	XNO	Primary Only Executed in Opening/Reopening	ROUTE	CORE		route	NYSE Pillar
ARCA	XNA	Primary Only Adding Liquidity	ADD	CORE	DISPLAYED	($0.0020)add	NYSE Pillar
ARCA	XN	Primary Only Removing Liquidity	ROUTE	CORE		route	NYSE Pillar
ARCA	XNW	Primary Only Routed from Primary	ROUTE	CORE		route	NYSE Pillar
ARCA	XNC	Primary Only MOC/LOC	ROUTE	CORE		route	NYSE Pillar
ARCA	XNT	945/355 Executed on Primary	ROUTE	CORE		route	NYSE Pillar
ARCA	XNRT	945/355 Executed on Primary - Retail	ROUTE	CORE		route	NYSE Pillar
ARCA	XNZ	Primary Only Sub Dollar	ROUTE	CORE		route	NYSE Pillar	SUB $1
ARCA	XAO	Primary Only Executed in Opening/Reopening	ROUTE	CORE		route	NYSE Pillar
ARCA	XAA	Primary Only Adding Liquidity	ADD	CORE	DISPLAYED	($0.0020)add	NYSE Pillar
ARCA	XA	Primary Only Removing Liquidity	ROUTE	CORE		route	NYSE Pillar
ARCA	XAW	Primary Only Routed from Primary	ROUTE	CORE		route	NYSE Pillar
ARCA	XAC	Primary Only MOC/LOC	ROUTE	CORE		route	NYSE Pillar
ARCA	XAT	945/355 Executed on Primary	ROUTE	CORE		route	NYSE Pillar
ARCA	XART	945/355 Executed on Primary - Retail	ROUTE	CORE		route	NYSE Pillar
ARCA	XAZ	Primary Only Sub Dollar	ROUTE	CORE		route	NYSE Pillar	SUB $1
ARCA	XMO	Primary Only Executed in Opening/Reopening	ROUTE	CORE		route	NYSE Pillar
ARCA	XMA	Primary Only Adding Liquidity	ADD	CORE	DISPLAYED	($0.0020)add	NYSE Pillar
ARCA	XM	Primary Only Removing Liquidity	ROUTE	CORE		route	NYSE Pillar
ARCA	XMW	Primary Only Routed from Primary	ROUTE	CORE		route	NYSE Pillar
ARCA	XMC	Primary Only MOC/LOC	ROUTE	CORE		route	NYSE Pillar
ARCA	XMT	945/355 Executed on Primary	ROUTE	CORE		route	NYSE Pillar
ARCA	XMRT	945/355 Executed on Primary - Retail	ROUTE	CORE		route	NYSE Pillar
ARCA	XMZ	Primary Only Sub Dollar	ROUTE	CORE		route	NYSE Pillar	SUB $1
ARCA	XDA	Primary Only Adding/Removing Liquidity	ADD	CORE	DISPLAYED	($0.0020)add	NYSE Pillar
ARCA	XDT	945/355 Executed on Primary	ROUTE	CORE		route	NYSE Pillar
ARCA	XDRT	945/355 Executed on Primary Retail	ROUTE	CORE		route	NYSE Pillar
ARCA	XDZ	Primary Only Sub Dollar	ROUTE	CORE		route	NYSE Pillar	SUB $1
ARCA	XWA	Route to ATS Order	ROUTE	CORE		route	NYSE Pillar
ARCA	XSM	Routing Strategy Midpoint Execution	ROUTE	CORE		route	NYSE Pillar	MIDPOINT

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