Payment for Order Flow

Schuster Gunnar and Raetz Marius
Additional contact information
Schuster Gunnar: Dr. iur., LL.M. (Chicago), lawyer with Freshfields Bruckhaus Deringer PartG mbB, Frankfurt/M.
Raetz Marius: LL.M. (Columbia), lawyer with Freshfields Bruckhaus Deringer PartG mbB, Frankfurt/M.

Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) / Journal of Banking Law and Banking (JBB), 2022, vol. 34, issue 3, 141-163

Abstract: Payment for Order Flow (PFOF) is the practice of execution venues to make payments to a brokerage firm if the brokerage firm routes client orders to these execution venues. Following the “Gamestop” incident, PFOF has become the subject of increased scrutiny in the US and the EU. The European Commission has recently proposed legislation to ban this practice altogether. This article assesses the admissibility of PFOF under MiFID II with a focus on the German implementation and provides an overview of the proposed PFOF ban against the broader MiFIR legislative package.

Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.15375/zbb-2022-0303 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:zfbrbw:v:34:y:2022:i:3:p:141-163:n:3

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/zbb/html

DOI: 10.15375/zbb-2022-0303

Access Statistics for this article

Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) / Journal of Banking Law and Banking (JBB) is currently edited by Johannes Köndgen

More articles in Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) / Journal of Banking Law and Banking (JBB) from RWS Verlag
Bibliographic data for series maintained by Peter Golla ().