Robinhood(HOOD) - 2024 Q4 - Annual Results

Order Flow and Payments - Non-directed orders accounted for 100% of all orders, with market orders representing 24.35% of non-directed orders[2]. - Citadel Securities LLC received 42.09% of non-directed order flow, with net payments totaling $1,943,575.07[9]. - G1 Execution Services, LLC processed 13.00% of non-directed orders, with net payments of $118,277.34[2]. - For options, non-directed orders made up 100% of all orders, with market orders at 0.60%[12]. - Citadel Securities LLC led options order flow with 30.90% of non-directed orders and net payments of $150,403.65[13]. - The marketable limit orders for non-S&P 500 stocks were 32.59% of non-directed orders[7]. - The average net payment received for marketable limit orders was $20.01 per hundred shares for Citadel Securities LLC[13]. - The percentage of marketable limit orders for options was 31.08% of non-directed orders[12]. - The total net payment received for marketable limit orders by Citadel Securities LLC was $10,456,121.32[13]. - The non-marketable limit orders for non-S&P 500 stocks accounted for 40.86% of non-directed orders[7]. - Non-Directed Orders accounted for 100% of all orders, with 28.73% being Non-Directed Orders, 31.86% Market Orders, 30.28% Marketable Limit Orders, and 9.12% Other Orders[16]. - Citadel Securities LLC had a Net Payment Received for Market Orders of $261,250.40, with a rate of 52.6943 cents per hundred shares[17]. - Virtu Americas, LLC reported a Net Payment Received for Market Orders of $194,259.42, with a rate of 65.3213 cents per hundred shares[17]. - Non-Directed Orders for Non-S&P 500 Stocks were 100%, with 25.04% Non-Directed Orders, 32.78% Market Orders, 37.47% Marketable Limit Orders, and 4.71% Other Orders[23]. - Citadel Securities LLC had a total Net Payment of $2,174,092.49 for Non-Directed Orders, with a rate of 21.0519 cents per hundred shares[25]. - Virtu Americas, LLC's total Net Payment for Non-Directed Orders was $913,288.32, with a rate of 14.0642 cents per hundred shares[25]. - Jane Street Capital reported a Net Payment Received for Market Orders of $1,437,011.60, with a rate of 15.5221 cents per hundred shares[25]. - Two Sigma Securities, LLC had a Net Payment Received for Market Orders of $822,790.53, with a rate of 15.0873 cents per hundred shares[25]. - Non-Directed Orders in Options accounted for 100%, with 0.63% Non-Directed Orders, 30.02% Market Orders, 53.75% Marketable Limit Orders, and 15.59% Other Orders[29]. - Citadel Securities LLC received net payments of $169,553.53 for non-directed orders, with 37.23% of non-directed orders[30]. - Dash/IMC Financial Markets reported net payments of $93,141.07, with 28.85% of non-directed orders[30]. - Wolverine Execution Services, LLC had net payments of $44,150.38, with 16.78% of non-directed orders[30]. - Virtu Americas, LLC reported net payments of $248,744.94, with 46.22% of non-directed orders[33]. - Jane Street Capital received net payments of $171,566.88, with 13.38% of non-directed orders[33]. - Two Sigma Securities reported net payments of $76,144.03, with 7.46% of non-directed orders[33]. - Citadel Securities LLC passed 80% of revenue to its affiliated clearing firm, indicating a significant revenue-sharing model[31]. - The market orders as a percentage of non-directed orders for S&P 500 stocks was 30.72%[32]. - Non-directed orders accounted for 28.24% of all orders in the S&P 500 stocks summary[32]. - Non-directed orders as a percentage of all orders for non-S&P 500 stocks was 24.68%[38]. - Non-directed orders accounted for 100% of all orders, with market orders representing 0.67% of non-directed orders[43]. - Citadel Securities had a net payment received for market orders of $12,165,147.58, translating to 40.46 cents per hundred shares[44]. - Wolverine Execution Services reported a net payment received for market orders of $4,014,102.50, at a rate of 37.80 cents per hundred shares[45]. - Global Execution Brokers had a net payment received for market orders of $3,072,667.08, equating to 38.33 cents per hundred shares[45]. - Morgan Stanley reported a net payment received for market orders of $4,744,627.17, at a rate of 37.97 cents per hundred shares[45]. - Dash/IMC Financial Markets had a net payment received for market orders of $8,886,980.98, translating to 35.34 cents per hundred shares[44]. - The overall marketable limit orders accounted for 54.37% of non-directed orders[43]. - The percentage of non-marketable limit orders was 15.19% of all orders[43]. - The total net payment paid/received for marketable orders was $176,865.22 for Citadel Securities[44]. - The report indicates that RHF passes 60% of revenue to its affiliated clearing firm, Robinhood Securities, LLC[46].