"PFOF Unveiled: Exploring the Intricacies of Brokerage Revenue Models"
Origins and Mechanics of PFOFPFOF emerged in the late 20th century as a means for brokerage firms to generate revenue by directing their clients' orders to third-party market makers or high-frequency trading (HFT) firms instead of executing them on public exchanges. In return, these market makers pay the broker a fee for the order flow, hence the t