Personal Finance & Money Asked by TestG on September 3, 2021
I’m reading this introduction to PFOF.
https://centerpointsecurities.com/payment-for-order-flow-guide/
It claims that those buying flow are allowed to front-run that flow. For example, if a customer sends a buy order to $3 and the current best offer is $2.99, the HFT firm is allowed to buy in the lit market at $2.99 and then fill the customer at $3.
Is that legal? I thought that the HFT firm was required to give better-or-same as the current best offer?
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