Citadel and Robinhood call for T+1 settlement cycle

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Vladimir Tenev, CEO of Robinhood, an American financial services company known for offering commission-free trades of stocks and exchange-traded funds via a mobile app, is pushing for the settlement infrastructure to be modernised.

This follows the course of events from January when Robinhood had to restrict trading in stocks including GameStop because of the volatility caused by retail traders.

The surge in buying of GameStop and other ‘meme stocks’ was partly aimed at creating a short squeeze on several hedge funds with known positions against the high-street games retailer.

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