SEC Rule 605 (formerly known as Rule 11Ac1-5)

Disclosure of SEC-Required Order Execution Information

If you wish to download Goldman Sachs & Co. LLC (GSCO) Disclosure of SEC-Required Order Execution Information use the links below:

Rule 605 (formerly known as Rule 11Ac1-5) eligible activity

September 2026
August 2026
July 2026
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February 2026
January 2026
December2025
November 2025
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December 2024
November 2024
October 2024
September 2024
August 2024
July 2024
June 2024
May 2024
April 2024
March 2024
February 2024
January 2024
December 2023
November 2023
October 2023
September 2023
August 2023

If you wish to download Goldman Sachs & Co. LLC (GSBD) Disclosure of SEC-Required Order Execution Information use the links below:

Rule 605 (formerly known as Rule 11Ac1-5) eligible activity

September 2026
August 2026

If you wish to download Goldman Sachs & Co. LLC SIGMA X2 (SGMT) Disclosure of SEC-Required Order Execution Information use the links below:

Rule 605 (formerly known as Rule 11Ac1-5) eligible activity

September 2026
August 2026
July 2026
June 2026
May 2026
April 2026
March 2026
February 2026
January 2026
December 2025
November 2025
October 2025
September 2025
August 2025
July 2025
June 2025
May 2025
April 2025*
March 2025*
February 2025
January 2025
December 2024
November 2024
October 2024
September 2024
August 2024*
July 2024*
June 2024*
May 2024*
April 2024*
March 2024
February 2024*
January 2024
December 2023
November 2023
October 2023
September 2023
August 2023

(zip archives of ASCII pipe-delimited data files)

*We are examining whether SGMT’s Rule 605 Reports for February, April, May, June, July, and August 2024, and March and April 2025 may be missing a small number of covered orders comprising a de minimis percentage of covered volume. If required, we will publish an updated report.

Important Note

Pursuant to U.S. Securities and Exchange Commission (SEC) Rule 605, Goldman Sachs & Co. LLC (“the Firm”), on a monthly basis, publishes reports reflecting execution quality statistics for certain orders in Regulation National Market System (Reg NMS) stocks (Rule 605 Reports) and a summary version of each report. In accordance with the Rule, the Firm publishes three (3) distinct sets of Rule 605 Reports, one for each of the Firm’s roles as a market center (over-the-counter (OTC) market maker), large broker-dealer, and owner/operator of Sigma X2, a Reg NMS stock alternative trading system (ATS): (1) GSCO OTC Market Maker Reports (GSCO), (2) GSCO Broker-Dealer Reports (GSBD), and (3) SIGMA X2 ATS Reports (SGMT). The reports contain certain standardized statistical information regarding the execution of covered orders in Reg NMS stocks. The covered orders are a subset of all orders received by the Firm.    

The required statistics are intended to provide a baseline to facilitate comparisons of execution quality among and between different reporting entities: market centers (e.g., national exchanges, ATSs, OTC market makers), large broker-dealers, and single-dealer platforms (SDPs). However, the statistics do not provide a complete comparison across the reporting entities, because each reporting entity’s statistics reflect only the types of covered orders it has received, which are in turn based on its customers’ or users’ particular objectives. Accordingly, the statistics do not create a reliable basis on which to assess whether the Firm or any other reporting entity has satisfied its duty of best execution. From time to time, the Firm may determine it necessary to update its monthly Rule 605 data. All reports, original and amended, are available upon request.

The SEC has made it clear that investors should take into account a number of factors in evaluating the quality of their order executions and in making order routing decisions. These include the size of the order, whether the dealer commits its capital to enhance liquidity for the customer, market conditions, customer objectives, technological capabilities, and other services provided.

We have made every effort to prepare these statistics in compliance with Rule 605. However, these statistics have not been audited and may contain errors. Any decision about whether to open an account or to direct orders to the Firm should not be based solely on these statistics, but on an evaluation of the full range of services we provide.

Please visit the SEC website for more information regarding Rule 605 Disclosure of Order Execution Information and answers to frequently asked interpretative questions (Frequently Asked Questions: Rule 605 of Regulation NMS).