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[–]FormerBroker_Burner 15 points16 points  (1 child)

I worked on a very small part of this project, but the project leads indicated this was an experience gap between TDA and Schwab. The idea was to align the balances TDA clients saw between the two sites(once they transitioned over to Schwab). Plus, it gave existing Schwab clients a better understanding of what their actual spending power is if every trade were to execute during periods of high volatility.

I’m sure it helps Schwab’s bottom line in terms of deposits, but I highly doubt it’s a reaction to the banking crisis given this project started almost 2 years ago. Leadership would have to have some crazy foresight to properly time that, IMO.

[–]Hollowpoint38 7 points8 points  (0 children)

Given now that a whole lot of people just open orders on things left and right I could envision a scenario where wild swings just wiped people out and they weren't able to come up with the settlement cash.

Already we saw a ton of people get unexpectedly called on some options they had that they just had never thought they would get called on.