Nasdaq

Could The SEC End Payment For Order Flow?

Robinhood, the uber-popular brokerage, helped usher in a new era of commission-free trading. It pushed established financial institutions, such as Charles Schwab and Fidelity, to follow suit. Sadly, ...
JD Supra

SEC Targets Payment for Order Flow: What Broker-Dealers and Wholesale Market Makers Should Know

In January 2021, the GameStop trading halt exploded across the headlines. Consumer advocates and the financial press pointed fingers at a number of industry players, paying particular attention to the ...
Slate

There’s Officially No Going Back From the World Robinhood Built

The old way a financial brokerage made money was to charge a fee whenever someone bought or sold stock. A company like TD Ameritrade or Charles Schwab would charge $4.95 or $6.95 (or whatever) in ...
JD Supra

FINRA Clarifies Guidance on Best Execution and Payment for Order Flow

The Financial Industry Regulatory Authority (FINRA) recently issued a Regulatory Notice (Notice) reminding firms of their obligations with respect to best execution and payment for order flow. 1 These ...
Wall Street Journal

Ending Payment for Order Flow: Easier Said Than Done

Asset bubbles are easy enough to define, but not so simple to identify. WSJ’s Gunjan Banerji explains what bubbles are exactly, how they form and what happens when they burst. Illustration: Jacob ...
Traders Magazine

Payment for Order Flow, Rebates Raise Conflicts

Thank you, Rich (Repetto), for that kind introduction. It is good to be with you again. As is customary, I’d like to note my views are my own, and I’m not speaking on behalf of my fellow Commissioners ...
InvestmentNews

SEC takes aim at payment-for-order flow

Wall Street’s top regulator previewed a set of sweeping changes to rules underpinning the U.S. stock market, setting up a major clash with some of the biggest names in equity trading. Securities and ...
Nasdaq

Exploring the SEC’s bid to Ban Payment for Order Flow: What Could Replace PFOF?

Recently, the SEC chairman, Gary Gensler sent shockwaves through the world of retail investing by stating that a full ban on the popular ‘payment for order flow’ (PFOF) operating model that enables ...
Benzinga.com

SEC Chair Gensler Could Restrict Payment For Order Flow This Week: What Investors Need To Know

More than 70% of Robinhood's total revenue in the first quarter of 2022 came from PFOF. GameStop and AMC traders accused Citadel Securities of pressuring Robinhood to place trading halts and ...
Business Insider

Retail trading app Public says its delivering better pricing for customers since it abandoned payment for order flow — and has data to prove it

Trading app Public stopped using payment for order flow and now says it's better for it. Some retail traders have petitioned for a ban on the practice, and regulators are considering it. In several ...
Business Insider

Robinhood calls potential payment for order flow ban 'draconian' as it fires back at SEC's Gary Gensler

Robinhood is hitting back at recent comments from SEC Chairman Gary Gensler, who said a payment for order flow ban was under consideration at the agency last week. Robinhood's chief legal officer Dan ...
The New York Times

The S.E.C. head is considering banning a key way Robinhood makes money.

Gary Gensler, the chair of the Securities and Exchange Commission, called payment for order flow “an inherent conflict of interest.” By Matt Phillips Gary Gensler, the chair of the Securities and ...