Hints and tips:
...The SEC had a nice chart in its staff report on the GameStop saga: If anything, Citadel Securities and other market-makers should have been encouraging more trading in GameStop, not discouraging it to rescue...
...Trust rests in a central counterparty, with a multinational corporation acting both as the custodian and the clearing house....
...Corporations are people, and people run on banks Despite plenty of bank failures, there were no banking panics in the US between the Great Depression and 2007....
...(See the Robinhood Gamestop saga.) As a market gets more volatile, clearinghouses require traders to put up more margin as collateral....
...No fewer than four documentaries — The Corporation (2003), Enron: The Smartest Guys in the Room (2005), Capitalism: A Love Story (2009) and Inside Job (2010) — addressed the pervasive amorality at the heart...
...A dispute over succession planning within a broadly successful family-run corporation leads to a hostile takeover that catastrophically fuses together two incompatible business cultures....
...Before markets opened on January 28, the Depository Trust and Clearing Corporation, which clears and settles all US equities transactions, notified Robinhood that its daily collateral deposit requirement...
...US earnings: GameStop, the video game store that rose to prominence during the meme stock rally last year, reports earnings after the bell....
...There is also a new minimum tax on corporations’ publicly reported book income. How big a deal is this?...
...I mean, the GameStop thing that happened, I loved all of that. I mean, that is sort of peak what I would want to be involved in....
...I’m not even sure they should be for-profit corporations; they should be mutual enterprises.”...
...US earnings GameStop, the video game store that rose to prominence during the meme stock rally last year, reports earnings after the bell....
...The settlement process became a flashpoint last year when shares of GameStop surged, prompting a roughly $3bn early morning margin call by the National Securities Clearing Corporation on Robinhood, money...
...He bet against video game retailer GameStop at the height of the meme stock bubble in early 2021. “We shorted right at the very top and made a lot,” he grinned....
...The Depository Trust & Clearing Corporation, which operates the NSCC, was not called to the first hearing....
...Media coverage tends to peak at the zaniest moments, such as when the Robinhood crowd was going gaga for GameStop and other meme stocks last winter, but the craze never slowed....
...I contacted Davis, who is now at Stanford University working on a new book about the changing nature of the corporation, to ask his thoughts about GameStop and the controversy surrounding it....
...The average daily volume of options trading in the third quarter was almost twice the 2019 average, though down from a peak in the early part of the year, according to data from the Options Clearing Corporation...
...In that time, clearing brokers have to post margin with Wall Street’s central clearing hub, the Depository Trust and Clearing Corporation (DTCC)....
...The outsized trading activity earlier this year around GameStop broke records at the National Securities Clearing Corporation, DTCC’s equities clearing house....
...Why couldn’t people buy the GameStop shares?” Elon Musk asked of Robinhood chief Vlad Tenev....
...In that time, brokers have to deposit cash margins with the US stock market’s central clearing hub, the Depository Trust and Clearing Corporation (DTCC)....
...“Who knows,” said Samuels, “we’ve seen AMC Entertainment go to $70 and GameStop go to $500 . . . It’s an opportunistic play for momentum traders using Trump cult status to run the stock.”...
...The fevered trading centred around GameStop broke records at the National Securities Clearing Corporation, DTCC’s equities clearing house....
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