Analysis

Market Maker Accountability: A Framework for Reform

A comprehensive accountability framework for wholesale market makers like Citadel Securities.

The Framework

Mandatory competitive auctions for retail orders. Real-time execution quality disclosure at the account level. Annual independent audit of information barriers. Public disclosure of all political and lobbying spending. Enhanced FINRA oversight with SEC override authority for systemic firms.

market maker accountabilityPFOF accountability frameworkCitadel reform proposal

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