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-0.00154479917610716 -0.00205973223480943 -0.00463439752832131 -0.00102986611740472 -0.00105046343975294 0.00411946446961886 -0.00154479917610716 -0.00617919670442848
Stock impact report

Brokerages jump on report SEC stops short of banning PFOF deals [Reuters]

Robinhood Markets, Inc. - Class A (HOOD) 
Company Research Source: Reuters
Securities and Exchange Commission (SEC) will stop short of banning payment-for-order-flow (PFOF). The SEC may still enact other changes that make the practice less profitable, Bloomberg News reported on Thursday, citing people familiar with the matter. The regulator had mulled over the controversial practice for months that critics believe creates conflicts of interest. ( https://bit.ly/3LwinJn Retail brokers route most customer orders via wholesale brokers than exchanges, as wholesalers generally offer a slightly better price. Most retail brokers also accept rebates, or payments, from wholesalers in lieu of orders. read more Shares of Robinhood Markets Inc , which makes around 75% of its revenue from PFOF, climbed 5%, while Virtu Financial (VIRT.O) added 9%. PFOF drew new scrutiny last year when an army of retail investors went on a buying spree of "meme stocks" like GameStop (GME.N) and AMC (AMC.N) , squeezing hedge funds that had shorted the shares. Many investors had pu Show less Read more
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