The Federal Reserve’s sudden shift away from forward guidance and its plan to rethink key policy tools has removed a familiar signpost for markets, and that can quickly change how money moves. When rate expectations are harder to read, trading activity often clusters around each new headline or policy hint, and some investors look for stocks that are closely linked to this kind of stop start mood. This article walks through three stocks from a Market Making and Trading Firms screener that appear closely tied to the current Fed story, providing context you can use as you consider whether they might fit, or not fit, in your own approach to volatility.

Robinhood Markets (HOOD)

Overview: Robinhood Markets is a US financial services company whose app based platform lets customers trade stocks, ETFs, American depositary receipts and cryptocurrencies, as well as use tools like fractional shares, margin, options, futures, prediction markets, retirement accounts and cash management products.

Operations: Robinhood generates its US$4.6b of revenue entirely from brokerage activities in the United States.

Market Cap: US$97.4b

Robinhood Markets gives retail investors direct exposure to bursts of trading activity that often come with policy shocks, and the Fed’s retreat from forward guidance may suit a platform built around high engagement, options, crypto and prediction markets. The company has a broad product set, strong profitability metrics, and analysts see room for further earnings growth, yet the P/E multiple is well above peers and margins have shifted lower from last year, so expectations are already demanding. Add in regulatory questions around payment for order flow, crypto and AI driven trading, plus heavy reliance on external funding, and Robinhood offers a mix of powerful growth themes and real risk that rewards closer scrutiny.

Robinhood Markets sits at the crossroads of options, crypto and prediction markets, yet its premium P/E and shifting margins raise hard questions about what is already priced in. Get the full story in the analysis report for Robinhood Markets

CMC Markets (LSE:CMCX)

Overview: CMC Markets is a London headquartered brokerage group whose platform lets retail, professional, and institutional clients trade and invest across shares, indices, forex, commodities, treasuries, contracts for difference, and financial spread bets in the UK, Australia, and internationally.

Operations: CMC Markets generates £319.6m of revenue from Trading activities and £70.1m from its Investing segment, serving clients across the UK, Australia, and other countries.

Market Cap: £1.23b

CMC Markets offers a focused exposure to market volatility, with a trading heavy revenue mix that tends to be active when policy surprises draw investors into short term positions. The company is expanding into digital assets and Web 3.0 infrastructure, and it is also building B2B partnerships with fintechs and banks that could make earnings less dependent on any single client group. At the same time, a P/E ratio that ranks above some UK capital markets peers, reliance on external borrowing, and exposure to tighter retail trading rules and DeFi execution risk present counterbalancing considerations. The core question is whether CMC Markets is being priced appropriately for this combination of potential opportunities and execution risks in an environment of less predictable central bank actions.

CMC Markets’ trading-heavy mix and expanding Web 3.0 push raise a key question: is the current pricing missing something about where earnings risk really sits or what could rerate expectations in the analysis report for CMC Markets?

Coinbase Global (COIN)

Overview: Coinbase Global runs a large cryptocurrency and tokenized asset platform that gives consumers a primary trading and payments account, institutions access to pooled crypto liquidity, and developers tools to build onchain applications.

Operations: Coinbase Global generates about US$6.3b of revenue from data processing activities, with roughly US$5.5b from the United States and US$1.1b from international markets.

Market Cap: US$43.0b

For investors watching how the Fed’s retreat from forward guidance might stir trading, Coinbase Global sits close to the action, as a large crypto exchange whose transaction revenue is closely tied to volatility and risk appetite. The company is pushing beyond spot trading into tokenized equities, derivatives, AI powered advisory tools and an “Everything Exchange” concept. This could gradually tilt its mix toward higher margin services and a broader addressable market. At the same time, earnings are sensitive to swings in trading volume, past one off cyber related costs highlight ongoing security and compliance demands, and a rich P/E alongside a DCF value well below the current price asks you to judge how much of the story is already reflected in expectations.

Coinbase Global’s push toward an “Everything Exchange” suggests the real story may be how future services reshape the earnings mix and risk profile, and the analyst forecasts for Coinbase Global hint at where that shift could surprise.

The three stocks here are a starting point, and the full Market Making and Trading Firms screener surfaces 43 more companies whose business models and financial profiles speak to the same market making and trading theme. Use Simply Wall St to identify and analyze the specific catalysts, risk factors, and narratives that matter most to you so you can focus on the ideas in this space that you understand best.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.