Stats › Active, passive and flows › Payment for order flow
Options pay $3.0bn of the $4.4bn US brokers collect
Options generate roughly two and a half times the payments that all equities do combined. Source: Moody's Ratings analysis of 14 large US brokers' regulatory disclosures.
US retail brokers route customer orders to wholesale market makers, which pay for the flow. Of roughly $4.4 billion collected in 2025, options produced $3.0 billion and all shares $1.4 billion. Payment for order flow is now mostly an options business.
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