Which scenario, a PFOF ban or $VIRT crashing because of it?
If a PFOF ban is unlikely we need to stop hanging it over their heads like a never ending cloud of gloom that keeps the stock forever under $30
At this point I almost want PFOF banned just so $VIRT will crash and I can buy more of it.
Rip the band-aid, get on with market making life & give investors one less reason to sell.
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PFOF ban ->
$virt goes up. CLOB -> different story. Neither will happen. -
If that’s true why does this happen every time Gensler speakshttps://twitter.com/HideNotSlide/status/1402669978269229057 …
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I’m literally biting my tongue…
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Get involved. Public site — Reg FD-compliant!
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I’m not convinced that a PFOF ban would hurt Virtu. It’s not like retail firms would route to exchanges in the absence of PFOF. It just means that Virtu would get flow for free that they now pay for.
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PFOF would shift to PI, so i dont think it would really have too much effect. the bigger question is what would happen to retail volumes if they had to start paying for trades. what would robinhood do?
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VIRT crashing with PFOF ban will make as much sense as VIRT spiking when VIX goes brr. So, yes, probably will happen even if it makes no sense
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Why would
$VIRT even drop, much less crash. They would be free to compete on pure execution quality, which would become even more important… I expect that, if it wouldn’t radically harm the business models of some of his clients@Dougielarge would agree publicly… -
It would depend on how they ban. If they ban internalization - then it may hurt Virtu, but if they just ban payment, then wholesalers will figure out another way to compensate brokers and Virt will be fine. Banning internalization would really hurt self-directed investors
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