Payment for order flow: Difference between revisions

{{a|g|}}Oh lord, where to start. PFOF was a big deal in Europe for years, and the Americans — usually such fastidious over-regulators — have been strikingly blasé about it. Much of the American love of playing the markets depends on it, in point of fact. All this was brought into sharp, public relief, in the great market un-crash of January 2021, when the massed armies of the investing public — for so long a huge, docile cow, tethered to the stall and irretrievably wired into the great [[financial services]] milking machine — woke up and decided to have things their way for once. Millking machine reacted rather petulantly. In a turn of events that is rather characterising the digital revolution, they discovered they were the product, not the customer, and the means of that transmission was [[payment for order flow]].