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Exactly. I looked for 10 minutes to see if there were brokers who didn't sell the data and whether there was a correlation with permitting GME trades on Wednesd
by LatteLazy 6y ago
Exactly. I looked for 10 minutes to see if there were brokers who didn't sell the data and whether there was a correlation with permitting GME trades on Wednesday. I could not find any major brokers that didn't sell data.
I'd like to see this more prominently declared. But as it is, RobinHood are far from unique.
- beagle3 6y agoIB has multiple tiers (and "Smart routing" vs. "Direct routing" IIRC) -- with very different cost structures; I always assumed that selling the order flow is what makes the cheaper ones cheaper. Does anyone know for sure? Is the most expensive one NOT being sold?
- Scoundreller 6y agoIB claims to only take payment for order flow on options, not on stocks: https://www1.interactivebrokers.com/en/index.php?f=44074#section-pfof-drop https://www1.interactivebrokers.com/en/index.php?f=44074#sec... "3. This revenue is from Options exchanges only, where the payment isn’t tied to specific orders." IB says 'smart routing' gets a 47cent/100share price improvement, or about half a cent per share. Unsure how that gets weighted. https://www1.interactivebrokers.com/en/index.php?f=1685 https://www1.interactivebrokers.com/en/index.php?f=1685