For Finance, Real Democratization Means Being Really Open

With Robinhood filing for an Initial Public Offering, we can be sure of a renewed debate about what it means to democratize finance. Robinhood's combination of zero-commission trading with a slick, intuitive app has been synonymous with the explosion in retail trading volumes: these are estimated to account for 23% of all U.S. equity trading in 2021, more than double their share in 2019.[1]