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Not completely, they have the right to add charges. Take a look at this tweet:

https://mobile.twitter.com/KralcTrebor/status/13551753956420...

It seems that they used this right by the fact that Robinhood was able to negotiate their deposit [0]. The DTCC demanded $3 billion. Robinhood negotiated down to $1.4 billion. If done by the formula, how is this possible?

[0]: https://www.cnbc.com/2021/02/01/elon-musk-on-clubhouse-robin...



> The DTCC demanded $3 billion. Robinhood negotiated down to $1.4 billion. If done by the formula, how is this possible?

Netting out trades.


Which is such a basic idea that it’s impossible that they didn’t come up with it themselves and had to be schooled by Vlad.

It’s like the “smart guy” having an insightful moment in a sci-fi movie: “I got it, we’ll use gravity assist!” Astrophysics 101.


I think the point is that Robinhood made a promise to net out trades, by bringing some balance to the buys and sells in their book.


We may not find out this news cycle, but my guess would be they wanted collateral for pending trades, and they eventually agreed on future trades only. The amount RH eventually raised, $3.4 billion, is in line with that.




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