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So, every broker is on margin with DDTC, they don’t have to have 100pct cash for the dollar amount of the buy orders they send to DDTC, as long as they will hav
by lukeramsden 6y ago
So, every broker is on margin with DDTC, they don’t have to have 100pct cash for the dollar amount of the buy orders they send to DDTC, as long as they will have the cash in 2 day.
I'm assuming you mean the DTCC? This actually isn't true now, as the DTCC have reportedly upped their margin requirements for GME orders to *100%*. That's according to the CEO of WeBull. That's why these clearing houses, and by extension brokers, cannot afford to sell GME stock to retail traders.