Equity markets had record levels of value traded in 2020.
Equity markets had record levels of value traded in 2020.
Robinhood CEO said customers received more than $1bn in price improvement due to payment for order flow.
The exchange wants to meet the growing demand from sophisticated retail investors to trade smaller orders.
Innovation in displayed markets is important as off-exchange volumes are rising.
US SEFs have between 20% and 40% of European derivatives trading.
There is growing demand from retail investors around the world to trade global hours.
SEC and CFTC are reviewing trading practices.
Sprecher said current market structure paralyses the industry and stifles innovation.
New York firms would execute and process trades elsewhere to find the lowest costs for their clients.
