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Robinhood jumps, then fades after report that SEC will not ban payment for order flow

Sumary of Robinhood jumps, then fades after report that SEC will not ban payment for order flow:

  • And it doesnt mean it always best execution, Gensler told CNBC Squawk on the Street last year.
  • Bloomberg News reported before the market opened that the Securities and Exchange Commission would stop short of banning payment for order flow, though the regulatory agency may still make rule changes that could lower the profitability of the practice.
  • SEC Commissioner Gary Gensler has been critical of the practice, questioning whether the payment relationships between market makers and brokerage firms was hurting the execution price for customer trades.

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