Great thread about the retail trading landscape. One thing I would add is that even if PFOF goes away it's highly unlikely that we'll go back to a world with $5/trade commissions because it was both a bad customer experience and not necessary for the brokerages to make $$$https://twitter.com/HideNotSlide/status/1404780934562471943 …
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I'll definitely read through that and I know that it's more complicated (due to ST borrowing against assets) but I guess I'm just surprised anybody keeps enough cash lying around in their brokerage accounts that when you add it up, just it's interest generates that much rev.
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Yeah for Schwab it's the single biggest line item in their revenues!
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Goddammit, do I have to give Mackenzie credit for being a great writer? That was an extremely good post, thanks so much for sharing it!
Thanks. Twitter will use this to make your timeline better. UndoUndo
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