> and then used client funds as collateral? But that's not necessarily settled right? E.g. client sells AMC, then buys GME. At this point RH doesn't have the c

> and then used client funds as collateral? But that's not necessarily settled right? E.g. client sells AMC, then buys GME. At this point RH doesn't have the cash to for it (the settlement should clear, but it still needs to come up with the collateral). (I'm not an expert so take it with a grain of salt, but that makes at least some sense :))