SEC Won't Restrict Wall Street Firms to Continue to Make PFOF Deals, Sources Say

The SEC is set to allow Wall Street firms to continue to make payment-for-order-flow (PFOF) deals, sources said. This is a major part of firms such as Robinhood and Charles Schwab's business models. This system allows Robinhood to offer commission-free trading. Robinhood shares opened up 9.3% on Thursday, trading at $10.92 on the open, up from $9.92 at Wednesday's close.