VIDEO | While traditional institutions struggle to onboard any client within a day, American “super broker” pioneer Robinhood ran account openings in the hundreds of thousands – per day – through the exciting days of 28 and 29 January 2021. And, as Aite-Novarica analyst Vinod Jain could tell the audience at PostTrade 360° Helsinki, that was just one of many interesting facts from the investment-operational point of view.

Kickback payments for the order flow from Robinhood, from market makers including Citadel and Morgan Stanley, enabled Robinhood to offer its retail clients stock trading at zero commission, in a “gamified” environment. In result, its practices suddenly came to challenge the market infrastructures and their risk management.

Vinod Jain is Senior Analyst, Capital Markets, Aite-Novarica Group


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