Robinhood introduces a new clearing system

Robinhood introduces a new clearing system

The Robinhood trading application has declared the launch of Robinhood Securities. It is a new clearing system which is aimed to eliminate the involvement of third-party clearing companies that impose multiple fees on the traders. The company claimed, “Robinhood Securities will perform certain centralized cashiering, bookkeeping and trading functions for your cash and margin accounts.”

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