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A comment on Robinhood raises $323M at a $7.6B valuation. Parent comment
Correct. And Robinhood is a broker, so it is also required to.
> Robinhood doesn’t submit orders directly to exchanges
Correct, but irrelevent.
> it always passes through a middle man
Correct.
> who has to collect some fee for their service.
Incorrect. They are not charging Robinhood (or their customers) a fee.
Robinhood's clients get the NBBO, as required by law, full stop. There's no trick here.
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Correct. And Robinhood is a broker, so it is also required to.
> Robinhood doesn’t submit orders directly to exchanges
Correct, but irrelevent.
> it always passes through a middle man
Correct.
> who has to collect some fee for their service.
Incorrect. They are not charging Robinhood (or their customers) a fee.
Robinhood's clients get the NBBO, as required by law, full stop. There's no trick here.