Germany has enough support to block EU’s PFOF ban

Possible compromise would be using consolidated tape to benchmark best execution

No entry sign Germany

Germany has enough support to form a blocking minority on draft EU rules that would ban the controversial practice of paying retail brokers to execute clients’ orders with a specific platform, say sources close to the issue.

A leaked document seen by Risk.net appears to confirm this, with other countries, including Italy, voicing objections to the ban on payment for order flow (PFOF).

“My latest understanding from Council dynamics is that there is a slight majority in favour of the PFOF ban

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