Gamestop, Robin Hood, operational risks and the "outlier" most risk managers never look at

Everybody knows (should know) it takes a few days before a stock settles. When trading goes crazy in several of the "hot" names, you realize there is a lot of money that needs to change hands, and given the settlement procedures there are some risks out there most never think of. Only the risk managers that have been in the game for long will have these procedures in place.