The SEC’s equities overhaul: Necessary plumbing changes or a liquidity drain?
The TRADE
AUGUST 21, 2023
According to 606 reports gathered by the SEC, Citadel Securities forked out $2.6 billion in 2020 and 2021 on PFOF, most of it on options, followed by Susquehanna (G1X global execution brokers), which spent a $1.5 billion and Virtu which spent $654 million in the same period.
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