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 Gary Gensler’s expected confirmation as head of the SEC approaches, Charles Schwab is gearing up for his impending regulatory agenda, and in particular, how the regulator may handle payment for ...

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 Trading & Financial Compliance Examinations (TFCE) section of the Market Regulation Department (Market Regulation) at the Financial Industry Regulatory Authority, Inc. (FINRA) is conducting a ...

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 ...

With a glut of trading venues arriving on the European equity trading landscape, access to an effective smart order router (SOR) to navigate between them is now crucial for buy-side traders in their ...

The majority of brokers do not provide the buy-side with full order routing transparency. Hayley McDowell asks whether the buy-side should be probing their brokers to find out where unfilled orders ...

DFlow, a “decentralized” payment for order flow (PFOF) protocol that enables wallets and crypto trading applications to sell their flow to best-execution market makers via open and permissionless ...

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