We get it, you don't understand what happens when a broker's interest aren't aligned with yours, especially when the broker isn't honest and upfront.
"if the overall execution is the same or better." is the key here, you have no idea if a broker who showed your order to everyone willing to buy would get you a better price than a broker who only showed your order to their subsidiary. But common sense and a venn diagram would tell you that you'll get at least the same price by showing it to everyone and potentially a better price. There's a pretty well established body of research that shows that brokers profiting from order flow is detrimental to that broker's customers. And I'll happily show you a bunch of brokers who don't brag on investor calls that they don't sell order flow while effectively doing the same thing by directing order flow to their subsidiary. In fact almost every other broker in existence. Not sure wtf the talk of Cadillac's was about, but we'll certainly have to agree to disagree about what constitutes honest and forthright behavior.
