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A comment on Robinhood denies claims that it sold GameStop shares out from under its traders. Parent comment

Re:Robinhood denies claims that it sold GameStop shares out ... by fastball on Friday January 29, 2021 @04:58PM (#25963233)
In the UK bank transfers are instant.
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Re:Robinhood denies claims that it sold GameStop shares out ... by ur-whale on Friday January 29, 2021 @05:07PM (#25963334)
They very likely aren't. They just appear to be to the retail crowd.
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Re:Robinhood denies claims that it sold GameStop shares out ... by marcinzm on Friday January 29, 2021 @05:09PM (#25963361)
It seems to be in fact instant: https://en.wikipedia.org/wiki/Faster_Payments_Service
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Re:Robinhood denies claims that it sold GameStop shares out ... by ur-whale on Friday January 29, 2021 @05:22PM (#25963504)
There is precious little explanation in the article you cite on how this is actually implemented on the back-end.

Banking plumbing is notoriously harder than most folks realize, and I wouldn't be surprised if there wasn't very hard (and very small) limits to how big of an amount / how many TPS you can actually execute with this system.

I might be wrong, but I'd be surprised if you could move 10M pounds instantaneously with this.

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Re:Robinhood denies claims that it sold GameStop shares out ... by fastball on Friday January 29, 2021 @06:44PM (#25964378)
Stop moving the goalposts.
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Re:Robinhood denies claims that it sold GameStop shares out ... by tonfa on Friday January 29, 2021 @06:02PM (#25963978)
Got curious, for SEPA there's next day settlement and 1B EUR limit.

The instant SEPA transfers have a 100k limit.

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Re:Robinhood denies claims that it sold GameStop shares out ... by namibj on Friday January 29, 2021 @06:43PM (#25964368)
My understanding is that this is due to instant SEPA blocking chargebacks to some extend.
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