πΊπΈ SEC - "97% chance that it [your trade] does not go to a transparent exchange."
"It goes to the dark markets or the wholesalers. And so it's harder to get best execution."
"It's [PFOF] a cost that's... buried behind the scene."
"Can we do better... [so] that orders compete with orders... rather than one wholesaler buying half of the retail flow in America?"
β Chair Gary Gensler at youtu.be/XLc4c7vL3rM?t=1634
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