Schwab Blends Institutional with Retail
SPECIAL REPORT
NEW YORK--Charles Schwab has shifted its approach to market making by creating a new system to pool together the firm’s retail and institutional order flow. The system, called the Schwab Liquidity Network, relies on a series of rules and algorithms to fully automate execution for all retail trades and all institutional trades under 10,000 shares--including automatically making markets when necessary.
Schwab, which was almost entirely retail-oriented as recently as 2000, has been building its
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