other material
confidence high
sentiment neutral
materiality 0.30
Robinhood files Q3 2023 Rule 606 reports showing Virtu received 53.7% of S&P 500 orders
Robinhood Markets, Inc.
- Virtu received 53.68% of S&P 500 non-directed orders; Citadel 23.10%; Jane Street 8.48%; G1 11.56%.
- Total PFOF for S&P 500 market orders: Virtu $126K, Citadel $67K, Jane Street $50K, G1 $72K.
- For non-S&P 500 stocks, Citadel received 38.19% of orders; Virtu 25.48%; Jane Street 25.27%.
- RHS passes 80% of PFOF revenue to RHF under a revenue and cost allocation agreement.
- Reports exclude orders for fractional shares, dollar-based orders, and certain recurring investment programs.