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Comment by colllectorof | Hacker News Reader

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colllectorof

>Trillions of dollars are moved in these markets

...and they jammed when a single subreddit decided to buy GameStop shares. Just think about what that means.

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The market was not jammed, only Robinhood was jammed. I could still buy GME on Schwab if I wanted

... or Fidelity or Vanguard or Wells Fargo or Citibank or ...

I had heard that Schwab and TD Ameritrade suspended GME trades as well, was that not true?

Theres a site for that: https://www.wherecanibuygme.com/

I was unable to look up the GME quote on TDA Thursday. In their UI, the quote is the place with the Buy button.

I used TDA via the ThinkorSwim app and it had no issues on Thursday. If you are at a PC and using the site, I'd suggest getting the TOS desktop app as it seems to be a lot more stable. It is NOT user friendly though so it may take a tad to get used to.

Related but separate. Robinhood has an internal clearinghouse which halted trading for Robinhood.

Apex is a large third-party clearinghouse used by M1 and others that restricted buys for all (most?) of its clients. TDA and Schwab both have their own internal clearinghouses so far as I know.

They did not. They did introduce restrictions: https://www.tdameritrade.com/td-ameritrade-trading-restricti...

"GameStop and AMC trading restricted by TD Ameritrade, Schwab, Robinhood others "

https://www.msn.com/en-us/money/personalfinance/gamestop-and...

"Some users are experiencing issues with trading platforms Vanguard, TD Ameritrade, and Charles Schwab due to heavy volume"

https://www.businessinsider.in/tech/news/some-users-are-expe...

Not to mention that the market is made up of all platforms and several of them were downright prohibiting GME buying. Some are listed in the article. Robinhood alone has more than 13 million users.

The restrictions at Schwab (and I'm pretty sure TD) were different than Robinhood, they only restricted shorting, buying on margin, and selling naked options. Buying and selling GME/AMC with cash were available the entire time (I could do it).

What? A few (new) trading platforms that are deliberately trying to shake up the market 'jammed'. The market itself was fine.

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