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I don't know the exact situation with all of them, but at least Robinhood and WeBull both occurred due to reliance on Apex Clearinghouse
by np_tedious 5y ago
I don't know the exact situation with all of them, but at least Robinhood and WeBull both occurred due to reliance on Apex Clearinghouse
- kasey_junk 5y agohttps://blog.robinhood.com/news/2018/10/9/introducing-clearing-by-robinhood https://blog.robinhood.com/news/2018/10/9/introducing-cleari... Robinhood has been self clearing for years before the GME incident
- gruez 5y agoRight, but that just means whatever problems that the clearinghouse was experiencing (they're not just doing it willy-nilly) is passed to robinhood directly.
- np_tedious 5y agoYeah, I should've said DTCC in robinhood case. Thanks for correcting me, GP. I should've remembered this from the tax statements changing