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Huh I didn't know that. The firm I worked for did self-clearing, and we had no customers (prop trading). I guess that means these requirements didn't really mat

• IG_Semmelweiss 6y ago
  even if you self clear , you are still a broker clearer and you end up touching the DTCC. This is exactly what Robinhood is doing too. This twitter user explains, although it gets quite technical: https://mobile.twitter.com/wallstcynic/status/1355013438154616835?prefetchtimestamp=1611896590777 https://mobile.twitter.com/wallstcynic/status/13550134381546... Look at the tweet at 7:41PM EST. " But if RH takes in 500m of new money and 300m buys GME, then at minimum they are looking at posting 30m+ from just that exposure at NSCC. They cannot use client money - RH has to use their own resources to post. And if GME stock drops, RH has to post the loss pre-settlement."
  • lukeramsden 6y ago
    Last I heard, the DTCC have raised collateral requirements on GME from 1-3% to 100%. Seriously. That's the real reason clearing houses stopped accepting new orders on GME from brokers.
    • floxy 6y ago
      Is there a way for a regular person to see the current DTCC collateral requirements for a particular stock?
      • toomuchtodo 6y ago
        I believe this is only available in the Collateral Monitor dashboard that institutions that must post collateral have access to.