November Statements

Why am I getting two statements this month?

Due to our transition to Clearing by Robinhood, you’ll have activity with two clearing broker dealers this month: Apex and Robinhood Securities. Any activity up to 11/12/18 will be included on your monthly statement generated by our previous clearing partner, Apex, and any activity on or after 11/12/18 will be reported by Robinhood Securities.

 

What are the "CNV" and "CONV" events in my activity list?

Part of the transition to Clearing by Robinhood requires that we work with Apex to move your cash and securities onto our new clearing system. Most of your assets were moved to our in-house clearing firm on 11/12. This event will reflect as a debit of all your positions and cash on your Apex statement, and a credit of those same holdings on your Robinhood statement.

Let’s say that as of 11/9, you had the following assets in your account:

  • 10 shares of SQ
  • 2 shares of TSLA
  • $72.50 of cash

 

In this example, your Apex statement will show the following:

Transaction

Date

Description

Quantity

CNV

11/12/18

Square, Inc.
CNV to Robinhood
CUSIP: 852234103

-10

CNV

11/12/18

Tesla, Inc. Common Stock
CNV to Robinhood
CUSIP: 88160R101

-2

CNV

11/12/18

CNV to Robinhood

Debit $72.50



On your Robinhood Securities statement, you’ll see the corresponding events in your activity:

Description

Transaction

Date

Quantity

Credit

Square
Unsolicited, CUSIP: 852234103

CONV

11/12/2018

10

 

Tesla
Unsolicited, CUSIP 88160R101

CONV

11/12/2018

2

 

Apex to RHS Conversion

CONV

11/12/2018

 

$72.50

 

If you placed a trade in the few days leading up to this event, you’ll see that trade on your Robinhood statement this month.

 

Why do my two statements look different?

By taking clearing in-house, we get to have full control over the design, look, and feel of your new statements. We’ve redesigned them from the ground up to include the most critical information about your account and to give you the insight you need into where your money is going. If you have feedback or suggestions, we’d love to hear them — drop us a line through the app!

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