PYMNTS: Robinhood adds Fully Paid securities lending to mobile app

Robinhood is moving ahead with its plan to allow users to loan out their stocks to other financial institutions, a program known as fully paid securities lending, Bloomberg reported Wednesday (March 16).

The company is aiming to compete with more conventional brokerages, and said the feature, which first appeared on a beta version of the iPhone app, may be available in the next few months.

Per Bloomberg, the service is dubbed the Stock Loan Income Program (SLIP), according to code discovered by developer Steve Moser.

“Through SLIP, you have the opportunity to earn passive income by lending whole shares of stocks to other institutions,” according to an in-app explanation of the feature. “These institutions may borrow stocks to settle trades or facilitate short sales. You’ll be able to buy and sell as usual, even if your stocks are on loan.”

The full article is available at https://www.pymnts.com/mobile-applications/2022/robinhood-preps-mobile-feature-to-allow-users-to-lend-stock/

Related Posts

Previous Post
Fed moves repo rate to 50 bps, Reverse Repo Facility rate to 30 bps
Next Post
JofPM: a risk-based framework for middle and back office outsourcing

Related Posts

Fill out this field
Fill out this field
Please enter a valid email address.

Menu
X

Reset password

Create an account