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RHF Use and Risk Disclosures
RHF Use and Risk Disclosures IT IS IMPORTANT THAT YOU READ AND FULLY UNDERSTAND THE FOLLOWING RISKS OF TRADING AND INVESTING IN YOUR SELF-DIRECTED ROBINHOOD FINANCIAL ACCOUNT. Use of Self-Directed Trading Accounts. All Customer Accounts are self-directed. Accordingly, unless Robinhood Financial clearly identifies a communication as an individualized recommendation, Customers are solely responsible for any and all orders placed in their Accounts and understand that all orders entered by them are based on their own investment decisions or the investment decisions of their duly authorized representative or agent. Consequently, any Customer of Robinhood Financial agrees that, unless otherwise agreed to in writing, neither Robinhood Financial nor any of its employees, agents, principals or representatives: ● provide investment advice in connection with a Customer Account; ● recommend any security, transaction or order; ● solicit orders; ● act as a market maker in any security; ● make discretionary trades; and ● produce or provide research. To the extent research materials or similar information is available through Robinhood.com or the websites of any of its affiliates, these materials are intended for informational and educational purposes only and they do not constitute a recommendation to enter into any securities transactions or to engage in any investment strategies. General Risks of Trading and Investing. All securities trading, whether in stocks, exchange-traded funds (“ETFs”), options, or other investment vehicles, is speculative in nature and involves substantial risk of loss. Robinhood Financial encourages its Customers to invest carefully and to use the information available at the websites of the SEC at http://www.sec.gov and FINRA at http://FINRA.org. -
IG Response to the Consultation on the Protection of Retail Investors in Relation to the Distribution of Cfds
IG Response to the Consultation on the Protection of Retail Investors in relation to the Distribution of CFDs. We would like to thank the CBI for giving us the opportunity to respond to the Consultation on the Protection of Retail Investors in relation to the Distribution of CFDs. This is an area that we feel very strongly about and we agree that as an industry we must take steps to protect retail clients. One of our main concerns is that the disproportionate implementation of investor protection measures may guide retail clients towards irresponsible firms that are outside the control or influence of the CBI, or indeed of any other EEA regulatory body. We hope that our response, including the quantitative analysis that has been provided and summarised within the appendices to this response, is useful and insightful and we ask that this information is given due consideration as part of the consultation process. 1. Which of the options outlined in this paper do you consider will most effectively and proportionately address the investor protection risks associated with the sale or distribution of CFDs to retail clients? Please give reasons for your answer. We believe that Option 2 would be the more effective and proportionate of the two options offered in CP107 (though we disagree with the details of the suggested leverage restriction regime included within that option – see answer 2(a), below). We think Option 1, a prohibition on the sale or distribution of CFDs to retail clients, would be a counterproductive and disproportionate measure that would be likely to lead to worse client outcomes – both for (i) the set of clients with sufficient understanding and a legitimate need to trade CFDs and (ii) vulnerable clients, for whom CFDs are unsuitable, who will be more likely to be successfully targeted by unscrupulous, unregulated firms. -
Thinkorswim Sharing
Reprinted from Technical Analysis of STOCK S & COMMODITIE S magazine. © 2014 Technical Analysis Inc., (800) 832-4642, http://www.traders.com PRODUCT REVIEW thinkorswim Sharing TD AMERITRADE, INC. SHORTENING THE found both within the thinkorswim AND AFFILIATES LEARNING CURVE platform and the thinkorswim web-based Website: www.thinkorswim.com, Traders who use thinkorswim as their trading platform: www.mytrade.com broker and trading, charting, and n thinkorswim is the actual trading Email: [email protected] analysis platform might just find that and analysis platform; a web and Product: Social media sharing all of those pertinent questions — and mobile version are also available tools and online community for more — can be answered within the thinkorswim users thinkorswim/MyTrade section of this n thinkorswim/Sharing is the broad, Price: Free for TD Ameritrade comprehensive analysis and trading descriptive name that encom- account holders platform. The platform already offers a passes all of the sharing features myriad of unique technical, analytical, linked to thinkorswim by Donald W. Pendergast Jr. and forecasting tools for serious trad- n thinkorswim/MyTrade is a web- ers and investors. Experienced traders site and section within the thinkor- nce an individual makes the using the thinkorswim/MyTrade tools swim platform where user-posted important decision to pursue the will have an eager audience of newer trades, ideas, and charts are dis- O goal of becoming a successful and maturing traders with whom they tributed to other MyTrade users trader, chooses a stock/option/forex/ can freely share their trade ideas, charts, commodity broker, and funds his ac- scans, watchlists, and chart layouts. -
The Law and Economics of Hedge Funds: Financial Innovation and Investor Protection Houman B
digitalcommons.nyls.edu Faculty Scholarship Articles & Chapters 2009 The Law and Economics of Hedge Funds: Financial Innovation and Investor Protection Houman B. Shadab New York Law School Follow this and additional works at: http://digitalcommons.nyls.edu/fac_articles_chapters Part of the Banking and Finance Law Commons, and the Insurance Law Commons Recommended Citation 6 Berkeley Bus. L.J. 240 (2009) This Article is brought to you for free and open access by the Faculty Scholarship at DigitalCommons@NYLS. It has been accepted for inclusion in Articles & Chapters by an authorized administrator of DigitalCommons@NYLS. The Law and Economics of Hedge Funds: Financial Innovation and Investor Protection Houman B. Shadab t Abstract: A persistent theme underlying contemporary debates about financial regulation is how to protect investors from the growing complexity of financial markets, new risks, and other changes brought about by financial innovation. Increasingly relevant to this debate are the leading innovators of complex investment strategies known as hedge funds. A hedge fund is a private investment company that is not subject to the full range of restrictions on investment activities and disclosure obligations imposed by federal securities laws, that compensates management in part with a fee based on annual profits, and typically engages in the active trading offinancial instruments. Hedge funds engage in financial innovation by pursuing novel investment strategies that lower market risk (beta) and may increase returns attributable to manager skill (alpha). Despite the funds' unique costs and risk properties, their historical performance suggests that the ultimate result of hedge fund innovation is to help investors reduce economic losses during market downturns. -
Playing with Fire
SPECIAL REPORT FINANCIAL INNOVATION February 25th 2012 Playing with fire SRFininnov1.indd 1 14/02/2012 15:09 SPECIAL REPORT FINANCIAL INNOVATION Playing with fire Financial innovation can do a lot of good, says Andrew Palmer. It is its tendency to excess that must be curbed FINANCIAL INNOVATION HAS a dreadful image these days. Paul CONTENTS Volcker, a former chairman of America’s Federal Reserve, who emerged 4 How innovation happens from the 2007-08 nancial crisis with his reputation intact, once said that The ferment of nance none of the nancial inventions of the past 25 years matches up to the ATM. Paul Krugman, a Nobel prize-winning economist-cum-polemicist, 5 Retail investors has written that it is hard to think of any big recent nancial break- The little guy throughs that have aided society. Joseph Stiglitz, another Nobel laureate, 6 Exchange-traded funds argued in a 2010 online debate hosted by The Economist that most inno- From vanilla to rocky road vation in the run-up to the crisis was not directed at enhancing the 9 High-frequency trading ability of the nancial sector to The fast and the furious perform its social functions. 11 Financial infrastructure Most of these critics have Of plumbing and promises market-based innovation in their sights. There is an enormous 12 Small rms amount of innovation going on On the side of the angels in other areas, such as retail pay- 13 Collateral ments, that has the potential to Safety rst change the way people carry and spend money. But the debate and hence this special reportfo- Glossary cuses mainly on wholesale pro- Finance has a genius for obscuring simple ducts and techniques, both be- ideas with technical jargon. -
Adame V. Robinhood Financial, LLC Et
Case 5:20-cv-01769 Document 1 Filed 03/12/20 Page 1 of 72 1 THE RESTIS LAW FIRM, P.C. William R. Restis, Esq. (SBN 246823) 2 [email protected] 402 W. Broadway, Suite 1520 3 San Diego, California 92101 Telephone: +1.619.270.8383 4 Counsel for Plaintiff and the Putative Class 5 [Additional Counsel Listed On Signature Page] 6 7 8 9 10 UNITED STATES DISTRICT COURT 11 12 FOR THE NORTHERN DISTRICT OF CALIFORNIA 13 SAN JOSE DIVISION 14 ALEXANDER ADAME, individually and on Case No: 15 behalf of all others similarly situated, 16 Plaintiff, CLASS ACTION COMPLAINT 17 v. 18 DEMAND FOR JURY TRIAL ROBINHOOD FINANCIAL, LLC, a Delaware 19 limited liability company, ROBINHOOD SECURITIES, LLC, a Delaware limited liability 20 Company, and ROBINHOOD MARKETS, INC., a Delaware corporation, 21 22 23 Defendants. 24 25 26 27 28 CLASS ACTION COMPLAINT Case 5:20-cv-01769 Document 1 Filed 03/12/20 Page 2 of 72 1 Plaintiff Alexander Adame (“Plaintiff”), individually and on behalf of all others similarly 2 situated, brings this putative Class aCtion against Defendants Robinhood Financial, LLC 3 (“Robinhood Financial”), Robinhood SeCurities, LLC (“Robinhood SeCurities”), and Robinhood 4 Markets, Inc. (“Robinhood Markets”) (colleCtively, “Robinhood”), demanding a trial by jury. 5 Plaintiff makes the following allegations pursuant to the investigation of Counsel and based upon 6 information and belief, except as to the allegations speCifiCally pertaining to himself, whiCh are 7 based on personal knowledge. ACCordingly, Plaintiff alleges as follows: 8 NATURE OF THE ACTION 9 1. Robinhood is an online brokerage firm. -
Vanguard P 0 Box 2600 Valley Forge, PA 19482-2600
Vanguard P 0 Box 2600 Valley Forge, PA 19482-2600 610-669-1000 www.vanguard.com March15,2013 Submitted electronically Elizabeth M. Murphy, Secretary U.S. Securities and Exchange Commission 100 F Street, N E Washington, D.C. 20549-1090 RE: NYSE Petition for Rulemaking Under Section 13(f) of the Securities Exchange Act of 1934; File No. 4-659 Dear Ms. Murphy: The Vanguard Group, Inc. ("Vanguard") 1 appreciates the opportunity to express its views to the Commission on the petition for rulemaking under Section 13(f) ofthe Securities Exchange Act of 1934 ("Exchange Act") that was submitted on February I, 2013 by NYSE Euronext ("NYSE"), a long with the Society ofCorporate Secretaries and Governance Professionals and the National Investor Relations Institute (the "NYSE Petition"). We strongly oppose the NYSE Petition's proposed shortening of the reporting deadline applicable to institutional investment managers under Exchange Act Rule 13f-1 from 45 calendar days after calendar quarter end to two business days after calendar quarter end . A shorter delay for release of this information could expand the opportunities for predatory trading practices that ha1m the interests ofmutual fund shareholders. Vanguard's mutual funds and ETFs invest in thousands of issuers to seek to provide long-term investment returns for fund shareholders. We are concerned that the release of information contained in Form 13F reports on a mere two-day delay provides opportunities for hedge funds, speculators, proprietary trading desks, and certain other professional traders to exploit the information in ways that are hmmful to fund shareholders, particularly by "front running" fund trades. -
Province of Newfoundland and Labrador Approved Locked-In Retirement Income Fund Arrangements Under the Pension Benefits Act, 1997
Province of Newfoundland and Labrador Approved Locked-in Retirement Income Fund Arrangements Under The Pension Benefits Act, 1997 Trustee: Allianz Life Insurance Company of North America PRODUCTS Allianz Life Insurance Company of North America RIF 1131 Trustee: B2B Trustco PRODUCTS AGF Multifund RIF 1595 B2B Bank Financial Services Inc. RIF 594 B2B Bank Intermediary Services Inc. RIF 1584 B2B Bank RIF 1577 B2B Bank Securities Services Inc. RIF 1003 Counsel Portfolio Services Inc. RIF 1186 Harmony RIF 1597 Investors Group Financial Services Inc. (Nominee) RIF 1669 Investors Group Securities Inc. RIF 1668 Mackenzie RIF 219 Primerica Concert RIF 1596 Quadrus RIF 305 Trustee: BMO Life Assurance Company PRODUCTS BMO Guaranteed Investment Funds RIF 1606 Trustee: BMO Trust Company PRODUCTS BMO InvestorLine RIF 432 BMO Nesbitt Burns Inc. RIF 089 BMO RIF 076 Guardian Group of Funds Ltd. Self-Directed RIF 062 The Trust Company of Bank of Montreal RIF 1028 Trustee: Canadian Western Trust PRODUCTS ATB Securities Inc. Self-Directed RIF 1322 Canadian Western Trust Company (M) RIF 1643 Canadian Western Trust Guaranteed RIF 215 Canadian Western Trust Self-Directed RIF 214 Canoe Financial General RIF 1665 LRIF LIST Tuesday, November 19, 2019 Page 1 of 9 Trustee: Canadian Western Trust PRODUCTS Hayward Securities Inc. Self-Directed RIF 1212 Leede Jones Gable Inc. Self-Directed RIF 1247 OceanRock Investments Inc. RIF 1378 Odlum Brown Limited Self-Directed RIF 201 Open Access Limited RIF 1542 Qtrade Asset Management Inc. Self-Directed RIF 1353 Qtrade Securities Inc. Self-Directed RIF 1253 Raymond James Ltd. Self-Directed RIF 1516 Worldsource Financial Management Inc. -
Recommending Cryptocurrency Trading Points with Deep Reinforcement Learning Approach
applied sciences Article Recommending Cryptocurrency Trading Points with Deep Reinforcement Learning Approach Otabek Sattarov 1 , Azamjon Muminov 1 , Cheol Won Lee 1, Hyun Kyu Kang 1, Ryumduck Oh 2, Junho Ahn 2, Hyung Jun Oh 3 and Heung Seok Jeon 1,* 1 Department of Software Technology, Konkuk University, Chungju 27478, Korea; [email protected] (O.S.); [email protected] (A.M.); [email protected] (C.W.L.); [email protected] (H.K.K.) 2 Department of Software and IT convergence, Korea National University of Transportation, Chungju 27469, Korea; [email protected] (R.O.); [email protected] (J.A.) 3 Department of Computer Information, Yeungnam University College, Gyeongsan 38541, Korea; [email protected] * Correspondence: [email protected]; Tel.: +82-43-840-3621 Received: 15 January 2020; Accepted: 19 February 2020; Published: 22 February 2020 Abstract: The net profit of investors can rapidly increase if they correctly decide to take one of these three actions: buying, selling, or holding the stocks. The right action is related to massive stock market measurements. Therefore, defining the right action requires specific knowledge from investors. The economy scientists, following their research, have suggested several strategies and indicating factors that serve to find the best option for trading in a stock market. However, several investors’ capital decreased when they tried to trade the basis of the recommendation of these strategies. That means the stock market needs more satisfactory research, which can give more guarantee of success for investors. To address this challenge, we tried to apply one of the machine learning algorithms, which is called deep reinforcement learning (DRL) on the stock market. -
Operation of Account Agreement
PLEASE READ CAREFULLY AND RETAIN. 2811 (08/2019) RBC DIRECT INVESTING INC. OPERATION OF ACCOUNT AGREEMENT This booklet contains important information about your account, forms and all other agreements, forms and documents relating to including the terms of your agreement with us, details on how we your Account, whether created or executed prior to or after the date of operate your account, our Commission and Fee Schedule, and our this agreement; commitment to protecting your privacy. It also includes information on “Automated Service” means any service we provide, now or in the investor protection from the Canadian Investor Protection Fund and the future, that allows you to access your account, or future accounts, Investment Industry Regulatory Organization of Canada. Please keep a information or other services we provide, and allows you to provide copy of this booklet on file for future reference. instructions regarding your account or future accounts, by regular or CONTENTS automated telephone communications, interactive voice recognition, cellular, wireless or portable phone, mobile device, interactive device, OPERATION OF ACCOUNT AGREEMENTS fax machine, email, computer, video, intelligent terminal television, DISCLOSURE DOCUMENTS modem, Internet, online or other telecommunication or electronic communication system or other similar devices. An Automated Service Part A – Leverage Risk Disclosure includes Mobile Service. Information refers to any information you Part B – Risk Disclosure Statement for Futures and Options receive or provide -
Innovation and Informed Trading: Evidence from Industry Etfs
Innovation and informed trading: Evidence from industry ETFs Shiyang Huang, Maureen O’Hara, and Zhuo Zhong*1 November 2018 We hypothesize that industry exchange traded funds (ETFs) encourage informed trading on underlying firms through facilitating hedging of industry-specific risks. We show that short interest on industry ETFs, reflecting part of the “long-the-stock/short-the-ETF” strategy, positively predicts returns on these ETFs and the percentage of positive earnings announcements of underlying stocks. We also show that hedge funds’ long-short strategy using industry ETFs and industry ETF membership reduces post-earnings-announcement- drift. Our results suggest that financial innovations such as industry ETFs can be beneficial for informational efficiency by helping investors to hedge risks. JEL Classification: G12; G14 Keywords: ETF, hedge funds, short interest, market efficiency, financial innovation * Shiyang Huang ([email protected]) is at the University of Hong Kong; Maureen O’Hara ([email protected]) is at the Johnson College of Business, Cornell University and UTS; Zhuo Zhong ([email protected]) is at the University of Melbourne. We thank Li An (discussant), Vikas Agarwal (discussant), Vyacheslav (Slava) Fos (discussant), Andrea Lu, Dong Lou,Bruce Grundy, Bryan Lim, Chen Yao (discussant), Liyan Yang, Terry Hendershott, Raymond Kan, Vincent Gregoire, Kalle Rinne (discussant) as well as seminar participants at University of Toronto, University of Melbourne, University of Technology Sydney, McGill, HEC Montreal, Wilfrid Laurier University, 2018 Luxembourg Asset Management Summit, 2018 UW Summer Finance Conference in Seattle, 2018 LSE Paul Woolley Center Conference, CICF 2018 and Bank of America Merrill Lynch Asia Quant Conference 2018 for helpful comments and suggestions. -
Technical Tuesday Shaun Murison Trading Strategy
TECHNICAL TUESDAY 20 OCTOBER 2020 TECHNICAL TUESDAY Table of contents 1 SOUTH AFRICA 40 INDEX Technical analysis of the local index 2 HIGHS AND LOWS Shares making new highs or lows over 52 weeks 3 MARKETS IN FOCUS USD/ZAR Spot Gold Brent Crude The BHP Group vs Anglo American Plc SHAUN MURISON Shaun has worked in financial markets for over ten years, and previously ran IG’s KZN branch before moving to Johannesburg. As market analyst, he presents our CFD trading seminars around the country. In addition, Shaun is a regular commentator on the local financial markets, contributing to various media (such as CNBC Africa and Business Day) and writing daily and weekly market reports. He is a registered person as well as Certified Financial Technician (CFTE). You can follow Shaun on Twitter at @ShaunMurison_IG for regular market updates and insight. TRADING STRATEGY AND MARKET UPDATE Join IG Academy to refine your trading strategy with the help of our market experts. Discover how to trade – or develop your knowledge – with free online courses, webinars and seminars. IG provides an execution-only service. The material on this website does not contain (and should not be construed as containing) investment advice or an investment recommendation, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of the above information.