Fresh off the Robinhood press today - they have developed and will be slowly rolling out their own clearing system!
I think this is a pretty incredible achievement for a startup and is definitely aligned to their clientsâ interests.
Wonder if Freetrade have feature this in their own roadmap? Maybe 2020 after weâve conquered Mars? 
Interesting! Yeah I guess it would have to be very long term if Robinhood are only moving into it nowâŠ
Iâve seen ClearBankâs shaking up clearing in the UK banking market; whilst this is a different kind of clearing you can get the impression from their story of how expensive and complicated it is to setup with all the regulations! They raised ÂŁ50m+ to do so, the founder previously founded Worldpay and so already knew the regulators etcâŠ
The TechCrunch article has more details:
I wonder what benefits bringing clearing in-house gives them in the background too..
Now thatâs interesting (you knew Iâd like that 
) what if stockbroking was just a smart acquisition strategy for a business that wants to (at least partly) be a challenger bank? Itâs definitely been more effective than the other approaches thatâve been tried in the US.
Bloomberg reported Robinhood was discussing banking products with regulators a few months ago. I donât know, feels like they could focus and get more market share as a stockbroker. But then again US Banking needs someone to disrupt it. Their IPO will be interesting for a lot of reasons.
Weâre already self-clearing in the UK and are the direct custodian of our clientsâ assets. The equivalent of DTCC in the UK is CREST, which we are members of. Just saying.
Show off! 
What about US or ex-UK stocks when we start to introduce them to the app?
I was thinking Square was going to go into banking with its Cash App, but theyâve had some stumbling blocks. Doesnât seem all that easy!
We wonât be going full-stack in every international market anytime soon, but you might find this article interesting: What is a CREST Depository Interest (CDI)? â The International Investor
Sorry Rob but
âthe founder previously founded Worldpayâ
You are sure of this? I dont think so. Any link?
yes, I think I heard this on a podcast, but thereâs an article which has the story as wellâŠ
On mobile and couldnât find the Robinhood main thread. Migrate if possible
The competitor threads have been temporary locked due to problems distinguishing planted posts Vs legitimate discussion of differences between platforms.
Itâs hard to administer, probably need to update forum guidelines. Problem is that opinions are always going to be skewed, we have to learn to accept them and let everyone make up their own minds.
But how far do you let it go and where do you draw the line with the spam and nefarious posts
If you try printing this mega thread on RHâs account, itâs 49 pages of size A4 so far with a âchat-botâ replying with the same statement over and over:
People canât day trade and it looks like itâs been 3-4 hours.
Building robust infrastructure is hard.
Iâd advise not to (day) trade and embrace longer time horizons for investing (if you can) unless you know your margin of safety.
âGo to WinchesterâŠâ
Will be interesting to see what impact this has on Robinhood in the long term. I imagine most are kicking off a storm to try and get compensation/Robinhood fined again.
Iâd also been keen to see RH handle the openness around what the tech issues are/were
T212 I can understand but I doubt there is âshillsâ from Robinhood (thereâs nothing positive to say about them in the UK right now) or even Revolut
Interesting choice of first post 
Over 6 hours in total.
Itâs system-wide now. More than 1 hour ago they posted an update and it looks bad:
Thereâs already an account:
(The sense of entitlement among some people is strong.)
But if youâre a passive investor:
Redditâs /r/RobinHood/ - it can be just like this forum :
Found it:
The day that this happens hereâŠmy phoneâs going in the bin.
"One of my most overarching principles is âknowing how to deal well with what you donât know is much more important than anything you know.â
"Related to this is my fundamental investment principle that âdiversifying well is the most important thing you need to do in order to invest well.â
âThis is true because 1) in the markets, that which is unknown is much greater than that which can be known (relative to what is already discounted in the markets) , and 2) diversification can improve your expected return-to-risk ratio by more than anything else you can do.â
â Ray Dalio
(Bookmark this link 
)
