---
schema_version: "secwatch.filing_event.v1"
accession: "0001783879-23-000250"
form_type: "8-K"
ticker: "HOOD"
cik: "0001783879"
company_name: "Robinhood Markets, Inc."
filed_at: "2023-10-31T23:59:59+00:00"
generated_at: "2026-06-09T04:51:43.112092+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Robinhood files Q3 2023 Rule 606 reports showing Virtu received 53.7% of S&P 500 orders

## Summary
- 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.

## SEC filing metadata
- accession: 0001783879-23-000250
- form_type: 8-K
- ticker: HOOD
- cik: 0001783879
- company_name: Robinhood Markets, Inc.
- filed_at: 2023-10-31T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1783879/000178387923000250/0001783879-23-000250-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1783879/000178387923000250/hood-20231031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001783879-23-000250
- JSON: https://secwatch.observer/filing/0001783879-23-000250.json
- Plain text: https://secwatch.observer/filing/0001783879-23-000250.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.