- Oct 23, 2017
- 2,407
- 5,295
Robinhood and most of these up-and-coming brokerages that target the Gen Z and Millenials crowd use Apex clearing for processing their transactions. While Robinhood limited transactions in a handful of equities, including GME, AMC, and others, by mid-morning today Apex had shut down all buys and sells of these stocks/options, except closing transactions, through any of the brokers that clear through them. I received a notice from TastyWorks (where I have a small account that I was using to see if I wanted to recommend them to my daughter and friends) sent out an email around 11am that specifically placed the blame on Apex. A follow-up email just before 3pm notified that Apex had lifted the restriction.
Here's the list of brokerages and the clearing firms they use (as of Dec 8, 2020):
Here's the list of brokerages and the clearing firms they use (as of Dec 8, 2020):