Robinhood Supports Effort to Eliminate SEC Rule 611
Robinhood (HOOD) is supporting the Securities and Exchange Commission's proposal to rescind Rule 611, a regulation that ensures trades are executed at the best available price. The rule prevents venues from executing trades away from public exchanges at worse prices than those displayed publicly as part of the national best bid and offer (NBBO). Robinhood argues the rule is outdated in today’s fragmented trading environment.
Topics: order-protection rule Robinhood (HOOD) SEC Rule 611 trading venues