Blue Ocean CEO Brian Hyndman and an electronic screen at Nasdaq displays Robinhood in New York's Times Square following the company's IPO, Thursday, July 29, 2021.
Robinhood users received a notice informing them the 24-hour market was “unavailable.” A source familiar with the matter told The National Desk Robinhood had some cancelled trades in the overnight session but had been operational since the market opened Monday. “Blue Ocean had a technology issue,” Hyndman said. “ didn't ask us to go down. There's no direct relationship there where they were trying to dampen volatility. This is really Blue Ocean just having an overall capacity issue.”
“Our platform is scaled to handle roughly about 50 million different messages on any given night,” he said. “So we got to that point and on the database side, it ended up, failing.”