Joe Moglia: Payment for order flow practice involves no conflict of interest

Joe Moglia: Payment for order flow practice involves no conflict of interest

Members of Congress spent much of their time during the hearing on the GameStop short selling saga prodding about “payment for order flow,” a practice in which a brokerage receives payment from a market maker, known as a dealer, for directing the order to them. Joe Moglia, former chairman and CEO of TD Ameritrade, joined “Squawk Box” on Friday to give his take on the practice and whether he thinks it should be regulated.

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