Announcements or press releases from major brokerage firms

Robinhood Unveils 'Legend' Platform with Futures, Crypto Futures; Shares Rise 5%

Oct 16, 2024, 10:41 PM

Robinhood Markets Inc. announced the launch of its new desktop trading platform, Robinhood Legend, designed to cater to active traders. Unveiled by CEO Vlad Tenev at the company's summit in Miami, the platform offers advanced charting capabilities and supports configurations of up to seven monitors. In a bid to attract more sophisticated investors, Robinhood is expanding its product offerings to include futures trading and index options, which will be available to Gold subscribers. Users will soon be able to trade key index options such as the S&P 500 ($SPX), Nasdaq 100 ($NDX), VIX, Russell 2000 ($RUT), and CBOE's S&P 500 Mini-SPX Index Options ($XSP), as well as futures on cryptocurrencies Bitcoin and Ether. Robinhood Legend is set to roll out in the coming weeks. Following the announcement, shares of Robinhood rose by 5% in after-hours trading. The move marks a significant step for the retail brokerage as it seeks to compete with established brokerages by providing a more comprehensive suite of trading tools and products.