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RH could not just go elsewhere; moreover, they absolutely could not go elsewhere today. Handling order flow for automated transactions isn't something you can f
by freeone3000 6y ago
RH could not just go elsewhere; moreover, they absolutely could not go elsewhere today. Handling order flow for automated transactions isn't something you can find on short notice.
- QuesnayJr 6y agoI think they can go elsewhere. If Citadel can't beat national best offer, they are supposed to go with the national best offer. https://en.wikipedia.org/wiki/National_best_bid_and_offer https://en.wikipedia.org/wiki/National_best_bid_and_offer
- freeone3000 6y agoThey don't do this. See https://nypost.com/2020/12/17/sec-slaps-robinhood-app-with-65m-fine-for-misleading-users/ https://nypost.com/2020/12/17/sec-slaps-robinhood-app-with-6... .
- QuesnayJr 6y agoBut they can. That's why they got into legal trouble with the SEC. See page 4 on the actual SEC document on the case, the section called "Best Execution": https://www.sec.gov/litigation/admin/2020/33-10906.pdf https://www.sec.gov/litigation/admin/2020/33-10906.pdf