Robinhood Adds Offering That Allows Retail Investors to Buy into IPOs

On Wednesday, Robinhood, a leading Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, announced that it supports Directed Share Programs (DSPs) through IPO Access. According to the blog post, the service allows retail investors to buy shares at the IPO price.

“DSPs are designed to recognize ‘friends’ of the company by giving them an opportunity to buy shares at the IPO price. They can facilitate meaningful community-driven interactions between companies going public and the individuals who have been a part of their journey leading up to the IPO,” the company noted.

The feature looks forward to the company to reserve a portion of IPO shares for a specific group of people, and the platform will distribute these shares to select individuals through the program, Robinhood added. Those who are invited by an issuer to join the DSP at the IPO price can use the Robinhood app to request shares at the IPO price, the company commented.

There were no more details disclosed about the brand-new offering, which is now available on Robinhood.

Robinhood Doubling Its Headcount on Tech Team

The announcement comes in the wake of Robinhood doubling its engineering, Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term and regulatory teams for the rest of the year. Additionally, Finance Magnates reported that the company has only reached 30% of its engineering hiring goal as of press time. The new hires appointed so far this year, especially during the second quarter of 2021, belong to the technology department, including customer support, as it is considered the biggest expense line of Robinhood nowadays.

Robinhood engineers work from home most of the time. Still, the firm is establishing part of its team in New York City, which is supervised by Jean Bredeche, Co-Founder of Quantopian, and was recently acquired by the firm. Moreover, the plans could be closely related to recent moves made by Robinhood on the subject of expanding their business.