"When you place a market order - 90-95% do not go to the 'lit' exchanges - do not go to NASDAQ or NYSE, they go to wholesalers and they don't have order by order competition..." - SEC Chief Gensler
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"... and part of that is because of what you just said; Payment-for-Order-Flow which is, yes, banned in the U.K., in Canada, and Australia and the European Union..."
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