Explainer-Robinhood makes most of its money from PFOF. What is it?

By John McCrank

Technology
Friday, 30 Jul 2021
12:13 AM MYT

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FILE PHOTO: The Robinhood App is displayed on a screen in this photo illustration January 29, 2021. REUTERS/Brendan McDermid/Illustration/File Photo

NEW YORK (Reuters) - App-based retail brokerage Robinhood Markets Inc was set to make its highly anticipated market debut on the Nasdaq on Thursday.

The brokerage, known for helping pioneer commission-free trading, relied on a controversial practice called payment for order flow (PFOF) for more than three-quarters of its revenue https://www.sec.gov/Archives/edgar/data/1783879/000162828021013318/robinhoods-1.htm in the first quarter.

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Singapore6h ago

Symbol	Open	High	Low	Last	Chg	%Chg	Vol ('00)
HSI-CWGB	0.135	0.140	0.110	0.115	-0.020	-14.81	2,133,979
HSI-CWEY	0.165	0.180	0.140	0.145	-0.040	-21.62	1,958,843
HSI-CWGA	0.070	0.070	0.050	0.050	-0.020	-28.57	1,675,003
HSI-PWFZ	0.200	0.235	0.200	0.230	0.030	15.00	1,553,120
MYEG-C9B	0.080	0.080	0.075	0.075	-0.005	-6.25	821,751
PUC	0.025	0.030	0.020	0.020	-0.010	-33.33	759,108
MYEG-C7U	0.040	0.040	0.035	0.035	-0.015	-30.00	710,600
HSI-CWC6	0.065	0.075	0.040	0.050	-0.030	-37.50	556,663
TANCO	0.980	0.985	0.950	0.955	-0.025	-2.55	492,660
HSI-PWHC	0.185	0.215	0.175	0.205	0.025	13.89	437,679
MYEG	0.930	0.935	0.905	0.905	-0.025	-2.69	345,439
HSI-CWEZ	0.085	0.085	0.065	0.070	-0.020	-22.22	336,384
SNS	0.540	0.560	0.535	0.545	0.010	1.87	275,676
RHONEMA-WA	0.070	0.105	0.035	0.045	-0.045	-50.00	259,223
BORNOIL	0.010	0.010	0.005	0.010	0.000	0.00	249,514

Explainer-Robinhood makes most of its money from PFOF. What is it?