---
schema_version: "secwatch.filing_event.v1"
accession: "0001783879-25-000305"
form_type: "8-K"
ticker: "HOOD"
cik: "0001783879"
company_name: "Robinhood Markets, Inc."
filed_at: "2025-10-31T23:59:59+00:00"
generated_at: "2026-05-17T01:08:10.787136+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Robinhood files Q3 2025 SEC Rule 606(a) order routing reports for broker-dealers

## Summary
- Reports cover July 2025 S&P 500 and non-S&P 500 stock order routing for RHF and RHS.
- Virtu Americas was top venue for S&P 500 non-directed orders at 52.9%; Citadel for non-S&P at 17.8%.
- RHS passes 80% of payment-for-order-flow revenue to RHF under cost allocation agreement.
- No other material financial or operational updates in this filing.
- Data is unaudited and excludes fractional, dollar-based, and 24-hour market orders.

## SEC filing metadata
- accession: 0001783879-25-000305
- form_type: 8-K
- ticker: HOOD
- cik: 0001783879
- company_name: Robinhood Markets, Inc.
- filed_at: 2025-10-31T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1783879/000178387925000305/0001783879-25-000305-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1783879/000178387925000305/hood-20251031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001783879-25-000305
- JSON: https://secwatch.observer/filing/0001783879-25-000305.json
- Plain text: https://secwatch.observer/filing/0001783879-25-000305.txt

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