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They will make the market: > ...the company has quietly been laying the groundwork to become a standalone market maker, > One way to reduce its reliance on PFOF is for Robinhood to…

Another argument against PFOF is that brokers could (and Robinhood has been caught doing it) be incentivized to route orders to the highest PFOF rather than executing at the best r…

> Robinhood to pay $65 mln fine to settle SEC charges of misleading customers > The SEC charged the company with failing to inform customers about payments it received from trading…

Matt Levine: > The customers think they have no cause for complaint, because they did better than the NBBO. The whole thing is an institutional equivalent of retail payment for ord…