{"id":42914,"date":"2020-08-08T02:35:00","date_gmt":"2020-08-07T23:35:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/free-trading-app-robinhood-may-be-behind-virtus-stellar-2q\/"},"modified":"2020-08-08T02:35:00","modified_gmt":"2020-08-07T23:35:00","slug":"free-trading-app-robinhood-may-be-behind-virtus-stellar-2q","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/free-trading-app-robinhood-may-be-behind-virtus-stellar-2q\/","title":{"rendered":"#Free trading app Robinhood may be behind Virtu\u2019s stellar 2Q"},"content":{"rendered":"

“#Free trading app<\/a> Robinhood may be behind Virtu\u2019s stellar 2Q<\/strong>”<\/p>\n

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August 7, 2020 |<\/span> 7:35pm <\/p>\n

\n Mom-and-pop investors spending their stimulus checks on no-fee trading apps like Robinhood weren\u2019t all winners in the June rally they fueled, but one Wall Street firm that executed their trades appears to have made out big.<\/p>\n

Virtu Financial, a $10 billion Manhattan-based provider of trading services, announced gangbuster trading income on Friday, which Wall Streeters say is due in part to the Joe Sixpack rally that helped push up stocks like bankrupt car renter Hertz in the spring and early summer.\u00a0<\/span><\/p>\n

For the three months ended in June, during which the Dow Jones Industrial Average grew by 23 percent, Virtu, a large purchaser of Robinhood order flow, said its trading income grew 180 percent over last year\u2019s second quarter \u2014 thanks in part to a trip<\/a>ling of its market-making revenues to $760 million.<\/p>\n

As of March, Virtu, which declined to comment for this story, was the second-largest purchaser of Robinhood\u2019s order flow, according to the trading app\u2019s most recent regulatory filings.<\/p>\n

As The Post has previously reported, Robinhood uses larger firms to execute its users\u2019 trades by selling its user\u2019s trading data to those firms. For firms like Virtu, buying order flow can provide a real-time look at stock movements, allowing them to capitalize on the market\u2019s interest in fad stocks, like the one that took Hertz from 50 cents to $5 a share in less than two weeks following its bankruptcy.<\/p>\n

\u201cHaving access to Robinhood flows in May and June was a great business,\u201d one equities trader told The Post. \u201cYou can almost see exactly how good it was in Virtu\u2019s numbers. And you can also see who really made the money, and it wasn\u2019t people buying Hertz at 60 cents.\u201d\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Free trading app Robinhood may be behind Virtu\u2019s stellar 2Q” August 7, 2020 | 7:35pm Mom-and-pop investors spending their stimulus checks on no-fee trading apps like Robinhood weren\u2019t all winners in the June rally they fueled, but one Wall Street firm that executed their trades appears to have made out big. Virtu Financial, a $10…<\/p>\n","protected":false},"author":1,"featured_media":42915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[50596],"class_list":["post-42914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-free-trading-app-robinhood-may-be-behind-virtus-stellar-2q"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/42914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=42914"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/42914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/42915"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=42914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=42914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=42914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}