> Order execution quality. RH sells order flow. How much this matters is probably beyond my knowledge. I'm inclined to think that it wouldn't matter too much, a

> Order execution quality. RH sells order flow. How much this matters is probably beyond my knowledge. I'm inclined to think that it wouldn't matter too much, and is more likely to adversely affect competing HFT firms who are in competition against the order flow buyer(s) than it would people trading at even the upper bounds of retail frequencies. This problem is that if all of the uninformed flow is internalized then I have to quote wider on the lit exchanges because all of my fills are going to come from informed traders. This is bad for the market as a whole.