Class Action Lawsuit Filed Against Robinhood

Re:Class Action Lawsuit Filed Against Robinhood by dillondoyle on Thursday January 28, 2021 @05:40PM (#25950535)

This was a better worded answer to the question I posted in a sub comment:

If I'm understanding (i might not be) this is why it feels like fraud/not following fiduciary responsibility to their clearing partners.

Does citadel clear their own trades? I could be off here, but what I'm asking is getting at like if they are on all the sides of the transaction as market maker, participating or allow others to participate in 'betting', and clearing the trades themselves? Does a trade even need to clear if it's just moving internally changing col A owner ID from 1234 to 9999?

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Re:Class Action Lawsuit Filed Against Robinhood by u10 on Thursday January 28, 2021 @06:19PM (#25950949)

Citadel has two sides to their business; Citadel Securities and Citadel. Citadel is the investment side and Citadel Securities is the MM side. I'm assuming that Citadel Securities does not clear the trades for Citadel, but don't quote me on that.

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