There's a detailed and useful description of the order flow market from Bloomberg's Matt Levine at https://archive.ph/kgApm https://archive.ph/kgApm. I don't th

There's a detailed and useful description of the order flow market from Bloomberg's Matt Levine at https://archive.ph/kgApm https://archive.ph/kgApm. I don't think it's accurate to say RH clients were getting screwed on order flow. They were getting less of the order flow benefit in exchange for no-fee trades.