New filing shows Robinhood brought in close to $100 million by offloading order flow in the first quarter
June 15, 2020, 5:35PM EDT · 5 min read
- A new regulatory filing shows trading firms paid Robinhood nearly $100 million in fees for stock and options order flow
- An update to Rule 606 implemented at the beginning of 2020 requires brokers to file more granular data about their order routing
- The new 606 filed at the end of May shows net payments made to Robinhood increased from $19.4 million in January to $45.4 million in March
- Payments for options orders made up the lion’s share of total payments
Brokerages are now required to file more granular information about their order routing. A recent filing by Robinhood shows electronic market makers paid the firm nearly $100 million for orders.
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