5 ms·

Not completely, they have the right to add charges. Take a look at this tweet: https://mobile.twitter.com/KralcTrebor/status/1355175395642003456 https://mobile

Not completely, they have the right to add charges. Take a look at this tweet: https://mobile.twitter.com/KralcTrebor/status/1355175395642003456 https://mobile.twitter.com/KralcTrebor/status/13551753956420... It seems that they used this right by the fact that Robinhood was able to negotiate their deposit [0]. The DTCC demanded $3 billion. Robinhood negotiated down to $1.4 billion. If done by the formula, how is this possible? [0]: https://www.cnbc.com/2021/02/01/elon-musk-on-clubhouse-robinhood-ceo-explains-trading-restrictions.html https://www.cnbc.com/2021/02/01/elon-musk-on-clubhouse-robin...

JumpCrisscross 6y ago
> The DTCC demanded $3 billion. Robinhood negotiated down to $1.4 billion. If done by the formula, how is this possible? Netting out trades.
- tomp 6y ago
  Which is such a basic idea that it’s impossible that they didn’t come up with it themselves and had to be schooled by Vlad. It’s like the “smart guy” having an insightful moment in a sci-fi movie: “I got it, we’ll use gravity assist!” Astrophysics 101.
  - auntienomen 6y ago
    I think the point is that Robinhood made a promise to net out trades, by bringing some balance to the buys and sells in their book.
deleted 6y ago
[deleted]
tedunangst 6y ago
We may not find out this news cycle, but my guess would be they wanted collateral for pending trades, and they eventually agreed on future trades only. The amount RH eventually raised, $3.4 billion, is in line with that.