• Robinhood launches its own trade clearing system as customer growth surges

    10 days ago - By CNBC

    Online brokerage Robinhood built an independent clearing system that will allow it to settle and clear transactions, and custody assets, the company announced Wednesday.
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  • 'The home for all of your financial needs': The CEO of Robinhood sets out his vision after announcing another move to compete with major brokerages

    'The home for all of your financial needs': The CEO of Robinhood sets out his vision after announcing another move to compete with major brokerages

    10 days ago - By Business Insider

    Robinhood announced the launch of its own in-house clearing service on Wednesday.
    The new service required building a 70-person team at its new "Major Oak" clearing center in Florida.
    The two-year effort will allow the zero-fee brokerage to save money and better execute trades for its customers, a brokerage expert told Business Insider.
    In an interview, cofounder and CEO Vlad Tenev explained Robinhood's fight to become the Amazon of personal finance.
    Robinhood, the zero-fee stock trading app that helped kickstart a race to the bottom in brokerage fees , has a new weapon in its arsenal as...
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