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A comment on Ask HN: Can I trust brokers with my stocks?. Parent comment

Re:Ask HN: Can I trust brokers with my stocks? by nayuki on Saturday February 20, 2021 @10:12AM (#26204641)
Give this woman an award: 03:00 "But, but, can I, if I, Thomas, if I can break in - and we should point out that Interactive Brokers is a sponsor of Bloomberg Radio and Bloomberg TV. So it's not the case that traders were doing anything wrong or illegal. It's just a case of logistically, there were going to be problems, right, in terms of clearinghouses. So that's more an operational problem versus a market problem or traders doing something wrong, correct?"

And Thomas responds: "No, no, no, not correct. So, so short squeezes are illegal. ..."

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Re:Ask HN: Can I trust brokers with my stocks? by throw0101a on Saturday February 20, 2021 @10:27AM (#26204778)
That's some inside baseball observation by her. See NSCC Procedure XV, on (virtual) page 294/385:

> Each Member of the Corporation, except as otherwise provided in this Procedure, is required to contribute to the Clearing Fund maintained by the Corporation an amount calculated by the Corporation equal to:

* https://www.dtcc.com/~/media/Files/Downloads/legal/rules/nsc...

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