41–50 of 164 posts
This is starting to look like a customer extinction level incident — Any idea which competing service their users / wsb will likely move to?
webull and thinkorswim will probably be the two biggest beneficiaries today.
I just got an email from Robinhood support on the outage, half an hour before markets close. I don't actively use RH as my main brokerage so not a big deal to me, but obviously this is unacceptable. Don't recall any other online brokerage suffering an outage like this. Suffice to say this throws cold water on any mystic around Robinhood having better tech that any incumbent.
Don't recall any other online brokerage suffering an outage like this. Brokerage firms have outages with surprising regularity. I remember Sharebuilder being particularly bad, but Vanguard was down for a bit last week. A whole day though is pretty spectacular.
Being down for an entire trading day is pretty crazy. I can't imagine what's going over there today in the engineering & devops teams. Depending on where the issue is, there might be thousands+ of orders to reconcile (manually?). It will be really interesting to read a post-mortem engineering blog post if they make one.
They don’t seem like serious enough professionals to release a postmortem. Did they do so for the “infinite leverage” bug? I have a couple grand in play money in Robinhood, because hey, zero commissions, but it’s clearly not sustainable for the long term. I’m glad my real investments are all safely parked at Vanguard, where I likely wouldn’t even notice if the brokerage seized up for a day.
What are the odds that this was a cyberterrorism attack? If you can predict this kind of market event (the bounce back), and you want to hurt a company and its users, you would simply DDoS at the right time.
My theory is that this was a leap year bug.
Earlier quoted context omitted.
Sorry thinking about this more, I guess the actual best price at the stock exchanges would be preferable
Reg NMS prevents HFTs from filling your order outside of the NBBO. if anything you’ll get slightly more favorable prices from a market maker, since they know you’re a retail trader who’s not going to run them over.
This is starting to look like a customer extinction level incident — Any idea which competing service their users / wsb will likely move to?
webull and thinkorswim will probably be the two biggest beneficiaries today.
Do they compensate their customers for this?