Gensler zeroes in on Citadel Securities as SEC considers payment for order flow ban

Gensler zeroes in on Citadel Securities as SEC considers payment for order flow ban

Wall Street’s top cop said Tuesday that the dominance of Citadel Securities in the business of routing order flow may not be giving retail investors the best deal.

U.S. Securities and Exchange Commission Chair Gary Gensler told the Senate Banking Committee that he’s concerned about Citadel Securities’ 47% market share over all U.S.-listed retail volume. Virtu Financial (VIRT), another wholesaler, controls about 25% to 30%.