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by erik_seaberg
1928 days ago
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I’ve seen claims that having settled funds doesn’t matter, that the brokerage must keep collateral at the clearinghouse and they cannot use customer’s money to do it: https://news.ycombinator.com/item?id=25981493. The clearinghouse suddenly demanded a lot more collateral for that stock (because its eventual value is so uncertain) and a lot of brokers couldn’t or didn’t want to meet it. They also didn’t want to say anything that might give an impression of being insolvent (especially when it isn’t true). |
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