Christine Hall

Robinhood, the startup brokerage, made two huge announcements Wednesday: It passed the six million customer mark, more than half the number of active accounts at mainstay retail brokerage TD Ameritrade (NASDAQ: AMTD). It had developed an internal technology for clearing and settling trades on its...

Startup brokerage Robinhood announced Wednesday it has developed a proprietary trade clearing system called “Clearing by Robinhood” that will let the company clear and settle all transactions on its trading platform. The company also announced it has recorded six million open accounts....