Robinhood yuav luag defaulted thaum lub GameStop luv nyem - Quartz

Nyob rau lub sijhawm ua ntej kaj ntug ntawm Lub Ib Hlis 28, 2021, lub tuam txhab lag luam nyiaj txiag Robinhood tau ntsib $ 3.7 billion nyiaj tau los ntawm lub tsev tshem tawm uas daws nws cov neeg siv khoom lag luam.

Rau txhua qhov kev lag luam Robinhood ua kom yooj yim, nws yuav tsum muaj cov peev txheej txaus, tshaj tawm raws li kev lav phib xaub, rau ob hnub nws siv rau kev lag luam los daws teeb meem. Qhov teeb meem yog tias Robinhood tsuas muaj $ 700 lab rau cov khoom lag luam - nws luv $ 3 nphom thiab tsuas muaj ob peb teev kom tau txais cov nyiaj seem.

Cov khw muag khoom lag luam tau siv lub app los yuav ntau tons ntawm kev hloov pauv meme khoom lag luam zoo li GameStop thiab AMC Kev Lom Zem, boosting lawv cov nqi hauv sim luv squeezes-uas txhais tau hais tias Robinhood yuav tsum tau tshaj tawm cov nyiaj tau los zoo sib xws kom nyob twj ywm kom txog thaum cov kev lag luam sib haum.

Nyob rau hauv cov sij hawm nruab nrab ntawm lub tsev tshem tawm daim ntawv ceeb toom - thawj zaug xa thaum 5:11 teev sawv ntxov US sab hnub tuaj - thiab 10 teev sawv ntxov hnub kawg rau kev hu xov tooj, Robinhood cov thawj coj tau nias lub tsev tshem tawm kom tsis muaj nyiaj txaus thiab ib txhij sim nce nyiaj.

Cov kev lobbying thiab nrhiav nyiaj txiag tau ua haujlwm. Lub tuam txhab kuj sai sai nres kev lag luam ntawm cov khoom lag luam tsis hloov pauv xws li GameStop rau hnub, uas txwv nws tus kheej txoj kev pheej hmoo tam sim ntawd, tab sis ua rau muaj kev kub ntxhov los ntawm nws cov neeg siv khoom thiab lub rooj sib hais hauv pawg nom tswv thiab kev tshawb nrhiav.

Lub lim tiam dhau los, ntau tshaj li ib xyoos tom qab GameStop luv nyem yog cov xov xwm pem hauv ntej, US Pawg Pabcuam Nyiaj Txiag Pabcuam Pawg Neeg Ua Haujlwm ywj pheej tau tshaj tawm cov txiaj ntsig ntawm nws qhov kev tshawb nrhiav (pdf), qhia raws nraim li cas Robinhood tiv thaiv kev puas tsuaj nyiaj txiag nyob rau ib hnub thaum nws yuav tsum tau ploj mus.

Yuav ua li cas Robinhood khwv tau nyiaj

Yog tias koj tau yuav lossis muag cov khoom lag luam hauv xyoo tas los no thiab tsis raug them los ntawm koj tus broker ua li ntawd, tej zaum koj yuav muaj Robinhood ua tsaug. Robinhood pioneered tsis-commission securities trading los ntawm kev lag luam qauv hu ua them nyiaj rau cov kev txiav txim txaus (PFOF). Lub tuam txhab muaj koob meej nrog cov neeg lag luam muag muag tau yuam cov neeg tsim khoom xws li Fidelity thiab Charles Schwab rau tshem tawm trading commissions nyob rau hauv 2019.

Robinhood tsis tau ua lag luam rau nws cov neeg siv khoom. Hloov chaw, nws muag nws cov neeg siv khoom xaj rau cov neeg tsim khoom lag luam xws li Citadel Securities thiab Ob Sigma Securities, leej twg vie kom ua tiav cov xaj.

Tseem, Robinhood yuav tsum tau tshaj tawm cov khoom lag luam rau nws cov neeg siv khoom lag luam mus rau National Securities Clearing Corporation (NSCC), uas yog ib feem ntawm Depository Trust & Clearing Corporation (DTCC), qhov loj tshaj plaws kev ruaj ntseg clearing tsev nyob rau hauv Teb Chaws Asmeskas. DTCC yog ib lub tuam txhab ntiag tug uas tau tswj hwm los ntawm US Securities thiab Exchange Commission.

Kev hu xovtooj thiab kev nrhiav nyiaj txiag

Thaum 7:15 teev sawv ntxov hnub ntawm kev hu xov tooj, Dan Gallagher, Robinhood tus thawj coj saib xyuas kev cai lij choj, tau hu xov tooj rau tus kws pab tswv yim tsis muaj npe ntawm DTCC, raws li kev tshawb nrhiav hauv tsev. Gallagher yog yav dhau los Republican tus thawj coj ntawm SEC, tus thawj tswj hwm ntawm DTCC. Nws thiab tus thawj coj ntawm DTCC tau "tau paub txog kev tshaj lij," tsab ntawv ceeb toom hais tias, ceeb toom tias ob qho dhau los ua haujlwm ua ke ntawm lub tuam txhab kev cai lij choj. Ntawm kev hu, Gallagher tau hais kom nthuav tawm qhov teeb meem rau DTCC cov thawj coj laus "los tham txog yuav ua li cas kom tau txais kev pab, zam, lossis kev zam."

Los ntawm 9: 11 teev sawv ntxov, thiab tom qab ob peb lub xov tooj ntxiv ntawm Robinhood thiab DTCC cov neeg ua haujlwm, Robinhood cov kev xav tau ntawm cov nyiaj tau los tau raug txo los ntawm $ 3.7 billion mus rau $ 1.4 billion, tseem ua rau lub tuam txhab $ 700 lab luv luv.

Qhov kev ncaj ncees rau kev tso nyiaj ntau lab daus las hauv kev zam tsis tau piav qhia. Raws li tsab ntawv ceeb toom, DTCC tus thawj coj ntawm kev pheej hmoo ua lag luam "tshaj tawm tias Robinhood's Excess Peev Nyiaj Them Nqi tau raug tshuaj xyuas rau kev hloov kho qis dua yam tsis tau hais txog vim li cas nws raug tshuaj xyuas lossis dab tsi yuav tsim nyog Robinhood rau kev hloov kho qis dua."

Thaum Gallagher tab tom sib tham nrog DTCC, Robinhood tus thawj coj nyiaj txiag Jason Warnick tau hu ua investor. Los ntawm 10 teev sawv ntxov hnub kawg, Warnick tau txais $ 1 nphom hauv kev nqis peev tshiab. Nws khaws kev nrhiav nyiaj txiag tom qab lub Ib Hlis 28 hnub kawg. Txog Lub Ib Hlis 30, lub tuam txhab tau nce tag nrho $ 3.5 billion.

Yog tsis muaj ob txoj hauv kev no, Robinhood yuav tau ua txhaum rau DTCC zoo li Lehman Brothers tau ua thaum muaj teebmeem nyiaj txiag xyoo 2008. Thaum muaj qhov tshwm sim tsis zoo, lub tsev tshem tawm "xav tias tswj hwm tus tswvcuab cov ntaub ntawv tsis raug cai thiab ua rau nws," tsab ntawv ceeb toom hais tias, txhawm rau txo kev pheej hmoo rau cov nyiaj txiag dav dav.

Robinhood tsis zoo li muaj sia nyob

Tias Robinhood tuaj yeem tawm ntawm qhov kev tsis txaus siab no tsis muaj dab tsi luv luv ntawm qhov txuj ci tseem ceeb, hais tias Tyler Gellasch, tus thawj coj ntawm Healthy Markets Association, pawg neeg lag luam lag luam, thiab yav dhau los Senate thiab SEC tus kws lij choj.

Gellasch hais tias "Nws yog qhov sib npaug ntawm lub dav hlau plaub lub cav poob tag nrho plaub lub cav ntawm 30,000 ko taw thiab tsaws nyab xeeb," Gellasch hais.

Gellasch yog qhov tseem ceeb ntawm kev tswj hwm kev pheej hmoo tsis txaus uas ua rau Robinhood teeb meem. Nws chalks txog lub tuam txhab txoj sia nyob mus rau nws txoj kev nom kev tswv. Nws tau hais tias "Qhov no qhia tau hais tias lub zog ntawm kev muaj tus thawj tswj hwm kev nom kev tswv tshwj xeeb hauv koj pab neeg," nws hais.

Robinhood qhov kev ua tsis tiav tuaj yeem ua rau muaj kev cuam tshuam loj rau kev siv nyiaj txiag dav dav, ib yam nkaus.

Gellasch hais tias "Tsis muaj qhov ua ntej rau lub tuam txhab zoo li Robinhood ua tsis tiav," Gellasch hais. "Qhov kev sib tsoo tam sim ntawd ntawm tus neeg ua lag luam-tus neeg muag khoom nrog ntau lab tus lej tuaj yeem yooj yim heev yog lub txim taws uas ua rau muaj kev cuam tshuam ntawm kev lag luam thoob plaws."

James Tierney, tus kws tshaj lij txoj cai lij choj ntawm University of Nebraska College of Law thiab yav dhau los tus kws lij choj SEC, hais tias thaum kev ua txhaum cai yog qhov kev hem thawj loj rau cov tub lag luam me, Robinhood tau tshwm sim ntseeg tias nws yog, qhov tseeb, loj dhau los ua tsis tiav.

Nws hais tias "Nws ua rau kuv nco txog cov lus qub, 'Yog tias koj tshuav lub txhab nyiaj ib lab nyiaj, qhov ntawd yog koj qhov teeb meem, tab sis yog tias koj tshuav lub txhab nyiaj ib billions, qhov ntawd yog lawv qhov teeb meem," nws hais.

Hauv ib tsab xov xwm sab hauv uas tau txais los ntawm Pawg Neeg Saib Xyuas Kev Ncaj Ncees, Robinhood tus thawj tswj hwm thiab COO David Dusseault tau hais rau ib tus npoj yaig tias lub tuam txhab yuav muaj peev xwm taug qab lub tsev tshem tawm cov cai. "Peb yuav tsum [sic] loj rau lawv kom kaw peb," nws sau.

Hauv email rau Quartz los ntawm tus kws tshaj lij, Robinhood tus kws tshaj lij tus kws lij choj Lucas Moskowitz hais tias Pawg Neeg Saib Xyuas Kev Tshawb Fawb Hauv Tsev yog "tsis muaj dab tsi tshiab, rov lees paub tias Lub Ib Hlis 2021 yog qhov txawv tshaj plaw, ib tiam dhau los uas tau hais txog txhua tus neeg koom nrog hauv kev ua lag luam."

Rau lub hlis tom qab, thaum Lub Xya Hli 2021, Robinhood mus rau pej xeem, nce qib lwm ze li $2 billion rau nws cov nyiaj.

Tau qhov twg los: https://qz.com/2184431/robinhood-nearly-defaulted-during-the-gamestop-short-squeeze/?utm_source=YPL&yptr=yahoo