Payment for Order Flow –What is it, who does it, why it matters

By Peggy Stephan | March 16, 2021

The SEC defines payment for order flow (PFOF) as “a method of transferring some of the trading profits from market making to the brokers that route customer orders to specialists for execution.”  This practice has been in the news lately, in part because of the recent scrutiny of trading practices at Robinhood – a firm…

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