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Organization

Robinhood Markets

American retail brokerage and financial services company founded in 2013.

8 links, 8 backed by primary records

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Dates
2013 –
Also known as
Robinhood Markets, Inc., Robinhood
Over time
  1. Active 2013 –
  2. CEO Baiju Bhatt Nov 2013 – Nov 2020
  3. CEO Vlad Tenev Nov 2013 –
  4. routed customer orders to Citadel Securities 2019 – Mar 2021

Connections 8

founded by

CEO

  • Baiju Bhatt Nov 2013 – Nov 2020 Primary record 12
  • Vlad Tenev Nov 2013 – Primary record 2

    Co-CEO with Baiju Bhatt from November 2013 to November 2020; sole CEO since then.

routed customer orders to

  • Citadel Securities 2019 – Mar 2021 Primary record 13

    Through its subsidiary Robinhood Securities. Citadel Securities paid Robinhood for these orders (payment for order flow): 34% of Robinhood's total revenues in 2020 and 27% in the first quarter of 2021. The S-1 says such arrangements are not documented under binding contracts.

involved in

  • NSCC margin calls of January 2021 clearing member (Robinhood Securities); told of a deposit deficit of about $3 billion on 28 January Primary record 4

    Robinhood's figures: a deposit requirement of about $3.7 billion, with about $696 million already on deposit; NSCC later waived part of the charge for that day.

  • Robinhood trading restrictions of 2021 imposed the restrictions Primary record 15

    Restrictions ran from 28 January to 5 February 2021, through Robinhood Securities, its clearing broker.

includes

Timeline 6 dates
  1. 2013 – Robinhood Markets
  2. 2013 Baiju Bhatt founded Robinhood Markets
  3. 2013 Vlad Tenev founded Robinhood Markets
  4. Nov 2013 – Nov 2020 Baiju Bhatt CEO of Robinhood Markets
  5. Nov 2013 – Vlad Tenev CEO of Robinhood Markets
  6. 2019 – Mar 2021 Robinhood Markets routed customer orders to Citadel Securities
Proof 7 sources
  1. Robinhood Markets, Inc. registration statement (Form S-1), 1 July 2021, Robinhood Markets, 1 Jul 2021. Primary record
    Robinhood was founded in 2013 by Vladimir Tenev and Baiju Bhatt.
    From 2013 to November 2020, Mr. Tenev served alongside Mr. Bhatt as our co-CEO and co-President.
    We had revenues from market makers in excess of 10% of total revenues, as follows: Year Ended December 31, 2019 2020 Market maker: Citadel Securities, LLC 29 % 34 %
    We had transaction-based revenues from market makers in excess of 10% of total revenues, as follows: Three Months Ended March 31, 2020 2021 Market maker: Citadel Securities, LLC 31 % 27 %
    As a result, RHS temporarily limited customer purchases for certain volatile securities from January 28 to February 5, 2021 in order to comply with its deposit requirements.
  2. Robinhood Markets, Inc. proxy statement (DEF 14A), 22 April 2026, Robinhood Markets, 22 Apr 2026. Primary record
    Co-CEO and Co-President, alongside Mr. Bhatt (November 2013 - November 2020)
    CEO and President (Since November 2020)
  3. Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide (House hearing of 18 February 2021, Serial No. 117-3), U.S. Government Publishing Office, 2022. Primary record
    Citadel is indeed an important counterparty. It's our largest counterparty in terms of where we route orders to
    The 606 reports do publicly detail the payment for order flow arrangements we have with Citadel Securities and our other market makers.
    Now, Citadel Securities owes a duty of best execution for every order that comes from Robinhood
  4. Testimony of Vladimir Tenev, Robinhood Markets, Inc., before the House Committee on Financial Services, 18 February 2021, House Committee on Financial Services, 18 Feb 2021. Primary record
    At approximately 5:11 a.m. EST on January 28, the NSCC sent Robinhood Securities an automated notice stating that Robinhood Securities had a deposit deficit of approximately $3 billion.
  5. Keeping Customers Informed Through Market Volatility, Robinhood Markets, 28 Jan 2021. Primary record
    In light of recent volatility, we restricted transactions for certain securities to position closing only.
  6. Robinhood Financial, LLC: annual audited report (Form X-17A-5 Part III) for 2020, Robinhood Financial, 26 Feb 2021. Primary record
    Robinhood Financial, LLC (the “Company”, “we” or “us”) is a wholly owned subsidiary of Robinhood Markets, Inc. (the “Parent”).
  7. Letter of Acceptance, Waiver, and Consent No. 2020066971201: Robinhood Financial LLC, Financial Industry Regulatory Authority, 30 Jun 2021. Primary record
    Robinhood Financial LLC became a FINRA member firm in October 2013 and launched online trading in December 2014.
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