On: Robinhood goes down again, during another historic...

[robjan]

Ultimately, RH is backed by a legacy system somewhere. I believe they custom built their OMS (order management system) which was the previous bottleneck but somewhere between RH and the other side of the order is a legacy system that they can't disrupt.

[dannyw → robjan]

To claim that RH would outscale NYSE, NASDAQ, and market makers like Citadel and Renaissance Technologies is absurd.

It's like saying Airbnb is taking down root level DNS servers.

[dehrmann → dannyw]

> Renaissance Technologies

I didn't realize they were a big player in this game. Citadel definitely is, though.

[manigandham → robjan]

RH doesn't fill anything, they only forward orders. All of the exchanges and other brokers are up and running just fine.

This is strictly an RH problem. Their last blog post said it was a DNS problem.

[robjan → manigandham]

Fully aware of that. RH don't even directly connect to the exchange, they use a third party execution broker.

Since all securities are affected, it probably actually is their OMS which is malfunctioning.

[yumraj → robjan]

If that were true, why are other equity trading systems, and by that I mean every other trading system, doing fine?

The problem is RH itself.