Viewing profile — throwacomment

PFOF does two things and you're only focusing on half of it. 1. It segments the counterparty they trade with. 2. They get dibs on new orders arriving. You're only talking about 1. …

Then find a way to tell everyone this in the open, not just Citadel. Then anyone else is free to trade against you. There can even be a micro-auction to get you the best price amon…

I'm not talking about you getting a worse price today . Suppose in some other industry, some monopolist consistently sells goods at a loss to drive out all the competition. In the …

Does anyone rebates 100% of the borrow fee or did that initially?

Yes, PFOF is woefully misunderstood but its very much not win win win. The reason its bad is because its anti-competive and gives them information that no-one else has access to. B…