Now that almost every brokerage has followed in the footsteps of Robinhood and adopted commission-free trading, how do these companies make money? One main source of revenue is from a small sum of ...

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 ...

As with Gamestop, I hesitated to write a payment for order flow post given that so much has been written about this already. But since it is a topic that comes up often, I thought I would share my ...

Payment for order flow (where market makers pay brokers to route orders for execution) and the duty of best execution (which requires a broker to seek the most favorable terms reasonably available for ...

The US Securities and Exchange Commission will stop short of banning payment for order flow, a controversial way to process retail stock trades, as it proposes new rules for the $48 trillion American ...

PFOF allows brokers to offer commission-free trades by routing orders to market makers. Investors often receive better prices than the NBBO via market maker payments. Critics argue PFOF may prevent ...