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18.02 - 21:51
Charles Schwab, Citadel, Robinhood report windfall on sales of investors’ order flow
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Brokerages serving individual investors received a windfall last year for selling their customers’ order flow to electronic trading firms, even as the practice faced increasing scrutiny from regulators.
The dozen largest US brokerages earned a combined $3.8bn for selling their customers’ stock and options orders last year, up 33% from 2020, according to new data compiled by Bloomberg Intelligence and released on 1 February.
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