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A comment on Robinhood and Didi to Kick Off a Hot IPO Summer. Parent comment

Re:Robinhood and Didi to Kick Off a Hot IPO Summer by jw1224 on Friday June 11, 2021 @08:51AM (#27472594)
I just re-read my comment and saying Citadel was Robinhood’s prime brokerage was definitely an error (too late to edit the comment now). I should’ve said market-maker.

Nonetheless, all the conflicts-of-interest between Citadel, Robinhood, and Melvin still stand. Citadel own Melvin, Citadel are market-makers for Robinhood, Citadel are members of the DTCC, Robinhood users cost Melvin billions, Citadel are footing the bill.

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Re:Robinhood and Didi to Kick Off a Hot IPO Summer by kasey_junk on Friday June 11, 2021 @11:04AM (#27474351)
Worth noting that Robinhood is a member of the DTCC directly. As is Computershare.

You don’t need the connection to Citadel. If any member of DTCC blows up DTCC holds the bag. But all that means is all members of DTCC hold the bag, including the members holding the non-settled long positions because all public equities in the US trade through DTCC or one of its members.

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Re:Robinhood and Didi to Kick Off a Hot IPO Summer by quickthrowman on Friday June 11, 2021 @05:52PM (#27478950)
Correction, Citadel is a PFOF customer of Robinhood, not a market maker for Robinhood. Market makers are retained by the exchanges.
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