Re:Robinhood to pay $70M for 'systemic supervisory failures'
by MiddleEndian on Wednesday June 30, 2021 @04:41PM
(#27693209)
Baffling that the US financial market is simultaneously run by supercomputers built as close to the physical stock market as possible to reduce latency, and then also manual letters and people personally mailing checks and such.
[ Parent
| on HN ]
Re:Robinhood to pay $70M for 'systemic supervisory failures'
by xyzelement on Wednesday June 30, 2021 @06:58PM
(#27694503)
Is it actually baffling? The computers do the very specific narrow set of operations (post order, match, accept fills, cancel) while the much broader range of "what else may come up" is less automated.
Re:Robinhood to pay $70M for 'systemic supervisory failures'
by MiddleEndian on Wednesday June 30, 2021 @07:06PM
(#27694579)
Yes. Sell stock, subtract from this account, add to account in another bank is something that should be trivially automated.