> what do you mean by "Robinhood's most recent miserable failure"? I mean "failure" in the literal sense. It's not a particularly reliable brokerage. "FINRA s

> what do you mean by "Robinhood's most recent miserable failure"? I mean "failure" in the literal sense. It's not a particularly reliable brokerage. "FINRA said in a statement that the brokerage failed to make sure clients were getting the most favorable prices possible from October 2016 to November 2017." (19 Dec 2019) https://qz.com/1772017/robinhood-fined-1-25-million-by-finra-for-trading-violation/ https://qz.com/1772017/robinhood-fined-1-25-million-by-finra... "As Robinhood's stock-trading app failed, the company was maxing out its credit" (10 Mar 2020) https://www.latimes.com/business/story/2020-03-10/robinhood-credit https://www.latimes.com/business/story/2020-03-10/robinhood-... "failing to satisfy its duty to seek the best reasonably available terms to execute customer orders" (17 Dec 2020) https://www.cnn.com/2020/12/17/investing/robinhood-sec-settlement-deceptive-practices/index.html https://www.cnn.com/2020/12/17/investing/robinhood-sec-settl... > Is he blaming T+2 for forcing him/Robinhood to prevent users to buy stock? How so? In a sense, he's blaming T+2 for tying up his firm's money, which his firm uses to make margin loans and put up collateral. > I still don't quite understand what T+2 means It means that if I buy stock from you today, I pay you (and you give me the shares) in two days' time. The trade is instantaneous but its settlement (where we actually exchange the goods for the dough) is not. That transaction is carried out through a clearinghouse. > all trades are recorded by a centralized entity (NYSE) NYSE is one stock exchange. It doesn't record all the trades. Look up DTC and NSCC.