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freeone3000
1971 days ago
RH could not just go elsewhere; moreover, they absolutely could not go elsewhere
today
. Handling order flow for automated transactions isn't something you can find on short notice.
1 comments
QuesnayJr
1970 days ago
I think they can go elsewhere. If Citadel can't beat national best offer, they are supposed to go with the national best offer.
https://en.wikipedia.org/wiki/National_best_bid_and_offer
link
freeone3000
1970 days ago
They don't do this. See
https://nypost.com/2020/12/17/sec-slaps-robinhood-app-with-6...
.
link
QuesnayJr
1970 days ago
But they can. That's why they got into legal trouble with the SEC. See page 4 on the actual SEC document on the case, the section called "Best Execution":
https://www.sec.gov/litigation/admin/2020/33-10906.pdf
link
https://en.wikipedia.org/wiki/National_best_bid_and_offer