Benzinga | Oct 6, 2021 09:30AM EDT

Online Broker Firm TradeZero Explores SPAC Merger To Go Public: Bloomberg

* The software provider for stock trading TradeZero Holding Corp is amid discussions for a SPAC merger with Dune Acquisition Corp (NASDAQ:DUNE), Bloomberg reports.

* TradeZero, led by CEO Dan Pipitone, offers commission-free stock trading, short selling, free limit orders, and other services.

* It earns partly from rebates paid for order flow by market centers including EDGX, ARCA, and Nasdaq and is planning on expanding its options offerings from single to multi-legged trading.

* Dune, led by CEO Carter Glatt, raised $172.5 million in a December initial public offering.

* During the pandemic, retail investors poured into financial markets, propelling the revenue of brokerages, including Robinhood Markets Inc (NASDAQ:HOOD), which became a meme stock following its August IPO.

* Price Action: DUNE shares closed higher by 0.1% at $9.85 on Tuesday.