Market Makers || Payment for Order Flow Explained || Market Maker and Exchange Incentives
The Wall Street Journal published an article on 31st October named ‘How Robinhood Cashes in on the Options Boom’, this inspired me to investigate Payment for Order Flow further. According to Bloomberg the 11 largest U.S. retail brokerages collected $2.2 billion for selling customers options orders.
Payment for order flow (PFOF) is the compensation and benefit a brokerage firm receives for directing orders to different parties for trade execution (Investopedia, 2021). In this video we look at PFOF for Robinhood in Q3 2021 and the 4 largest brokerage firms in the world: TD Ameritrade, E Trade, Fidelity and Charles Schwab.
Wall Street Journal Article: https://www.wsj.com/articles/how-robi...
Breaking Down the Payment for Order Flow Debate: https://a16z.com/2021/02/17/payment-f...
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