Robinhood CEO calls for move to real-time settlement of trades (Reuters) - It’s time to consider real-time settlement in U.S. equities trading, Robinhood Chief Executive Officer Vlad Tenev said, after the online brokerage suffered immense financial strain from a retail trading frenzy that rocked Wall Street last week. "There is no reason why the greatest financial system the world has ever seen cannot settle trades in real time. Doing so would greatly mitigate the risk that such processing poses," Tenev, who is also a co-founder of Robinhood, said in a blog post bit.ly/3aw3yEi. The securities industry currently follows a two-day settlement system. Retail investors, egged on by Reddit thread WallStreetBets, have sent shares of heavily shorted companies such as GameStop Corp and AMC Entertainment through the roof, leading to what is called as a short squeeze that has forced a handful of brokerages to book heavy losses.
Robinhood CEO calls for move to real-time settlement of trades (Reuters) - It’s time to consider real-time settlement in U.S. equities trading, Robinhood Chief Executive Officer Vlad Tenev said, after the online brokerage suffered immense financial strain from a retail trading frenzy that rocked Wall Street last week. "There is no reason why the greatest financial system the world has ever seen cannot settle trades in real time. Doing so would greatly mitigate the risk that such processing poses," Tenev, who is also a co-founder of Robinhood, said in a blog post bit.ly/3aw3yEi. The securities industry currently follows a two-day settlement system. Retail investors, egged on by Reddit thread WallStreetBets, have sent shares of heavily shorted companies such as GameStop Corp and AMC Entertainment through the roof, leading to what is called as a short squeeze that has forced a handful of brokerages to book heavy losses.
laixiaofang 发表于 2021-02-02 20:19
They themselves got into clearing business and got burned because they don't have deep pockets and now they want to change the rules? How convenient... how about revoke your clearing privilege first and then we can talk... otherwise go pound sand.
(Reuters) - It’s time to consider real-time settlement in U.S. equities trading, Robinhood Chief Executive Officer Vlad Tenev said, after the online brokerage suffered immense financial strain from a retail trading frenzy that rocked Wall Street last week.
"There is no reason why the greatest financial system the world has ever seen cannot settle trades in real time. Doing so would greatly mitigate the risk that such processing poses," Tenev, who is also a co-founder of Robinhood, said in a blog post bit.ly/3aw3yEi. The securities industry currently follows a two-day settlement system.
Retail investors, egged on by Reddit thread WallStreetBets, have sent shares of heavily shorted companies such as GameStop Corp and AMC Entertainment through the roof, leading to what is called as a short squeeze that has forced a handful of brokerages to book heavy losses.
They themselves got into clearing business and got burned because they don't have deep pockets and now they want to change the rules? How convenient... how about revoke your clearing privilege first and then we can talk... otherwise go pound sand.
受花姐压力虐了两天韭菜，心虚腿软顶不住了？