Market Structure and PFOF

Healthy and well-functioning markets are built on the principles of market fairness and investor protection. PFOF is innately conflicted and opaque and price improvement claims by MMs are questionable. Good read from the written testimony of Prof. Fletcher before the US Senate. (III.A and III.B, pg 14)

https://www.banking.senate.gov/imo/media/doc/Fletcher%20Testimony%203-9-21.pdf