Re:Why Robinhood disabled buys but not sells
by dannyw on Sunday January 31, 2021 @12:18PM
(#25980433)
DTCC raised collateral requirements for GME from 2% to 100%.
[ Parent
| on HN ]
Re:Why Robinhood disabled buys but not sells
by tptacek on Sunday January 31, 2021 @12:20PM
(#25980451)
Is that documented somewhere? I absolutely believe it, I'm just curious.
Re:Why Robinhood disabled buys but not sells
by drexlspivey on Monday February 01, 2021 @02:50PM
(#25992823)
Robinhood CEO said on an interview with Musk that collateral went overnight from 300m to 3b (which they were later able to negotiate down to 700m by stopping buy orders)
Re:Why Robinhood disabled buys but not sells
by spurgu on Sunday January 31, 2021 @12:19PM
(#25980441)
Source?
Re:Why Robinhood disabled buys but not sells
by noughtme on Sunday January 31, 2021 @12:35PM
(#25980621)
While DTCC did not publicly confirm the amount, it did confirm that capital requirements were raised January 28. Given that numerous participants have publicly stated it was to 100%, that seems likely.
https://www.bloombergquint.com/quicktakes/what-s-the-dtcc-an...
Re:Why Robinhood disabled buys but not sells
by erichocean on Sunday January 31, 2021 @06:00PM
(#25983470)
But but but that's not market manipulation, that's just one company doing a normal thing in the normal course of business…
I'm sure it had nothing to do with GME.
Re:Why Robinhood disabled buys but not sells
by threedots on Sunday January 31, 2021 @06:23PM
(#25983663)
It had lots to do with GME in that GME was the source of the risk (because of its through the roof volatility) that the DTCC was protecting against. But if your implication is that the DTCC has a dog in that fight you are way off base - they exist several layers below hedge funds in the trading stack and have nothing to do with each other, in fact I'd be willing to bet Gabe Plotkin couldn't even tell you what DTCC stands for.