Robinhood Is Said To Get 40% Revenue From HFT Firms Like Citadel

in robinhood •  6 years ago 

Robinhood, the cryptocurrency application that caters to millennials, is selling the trades of it's members to high frequency trading firms.

This was reported a month ago and verified by Bloomberg last week.

Since then, Robinhood updated it's "How Robinhood Makes Money Page". Vlad Tenev wrote that they do send their trades to Two Sigma, Citadel, and Virtu. He claimed they are simply market makers and do not front load trades like exchanges such as the NYSE do.

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6 years ago by

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      ·  6 years ago 

    Wow good to know

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      1 vote
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        ·  6 years ago 

      Thanks for the information

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        1 vote
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          ·  6 years ago 

        This is has been done by many firms for a long time.

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            ·  6 years ago 

          You got a 44.93% upvote from @brupvoter courtesy of @steemium!

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              ·  6 years ago 

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                ·  6 years ago 

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                  ·  6 years ago 

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                    ·  6 years ago 

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                      ·  6 years ago 

                    Great post!
                    Thanks for tasting the eden!

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                        ·  6 years ago 

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