Kenneth Worthington
JPMorgan Chase & Co, Research Division

Hi. Good morning, everyone. Thank you for joining us this year at JPMorgan's TMC Conference. In this fireside chat, we have Steve Quirk, Chief Brokered Officer at Robinhood. Robinhood is a $70 billion brokerage firm that offers, I got a long list here. Retail investors access to stocks, derivatives, crypto and events contract trading as well as services, including retirement, lending, credit cards, advice, and banking.

So Steve has served as Chief Brokerage Officer at Robinhood since early 2022, and he previously oversaw strategy and development and many of the initiatives for trading at TD Ameritrade and thinkorswim. I've got to say, I think you're probably one of the best acquisitions that RobinHood has ever made. Thank you so much for joining here today for our third TMC conference appearance.

Kenneth Worthington
JPMorgan Chase & Co, Research Division

So I wanted to start off by maybe starting high-level market environment. So the core retail business, how do you judge that the health and the behavior of client -- the client retail investor, not just from a sentiment perspective, but risk capacity, staying power? And how has the volatility in the most recent environment impacted your thoughts about the narrative of the health of the retail investor these days.

Steven Quirk
Chief Brokerage Officer

It's a good question. It's a question we get a lot from the media because when they picture pure do-it-yourself retail, they kind of look to us at Robinhood. We have 27.5 million customers. Half of them are