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Well then I'm not sure why they'd find the clearinghouse explanation so hard to believe. Robinhood has a history of poor controls. A year or so ago there was a
by tedunangst 6y ago
Well then I'm not sure why they'd find the clearinghouse explanation so hard to believe. Robinhood has a history of poor controls. A year or so ago there was a story about a user who ended up negative a million because they failed to do a proper margin call. DTCC is probably rightfully skeptical that RH has the situation under control.
- tal8d 6y agoBecause it isn't an either or scenario. I'm sure they are concerned about not having a chair when the music stops. But their relationship with Citadel (who has been fined for thing like frontrunning) can't be ignored. All their incentives go in the opposite direction from their users.