I'm getting tired of the narrative that Robinhood's business model is screwing retail investors. I no longer think that is true. The armchair mkt structure experts (me included) need to clearly separate naïve idealism from realistic solutions. RANT TIME:
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NBBO is determined on the lit exchanges. The wider the NBBO = the more room your "marketable" orders will have to be of lesser quality using a non-DMA broker. The HFT MMs are Reg NMS compliant b/c best ex is still being met as long as they fill you between the bid offer.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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