Robinhood rises after launching desktop platform, adding F&O trading to app
** Retail trading platform Robinhood Markets' HOOD.O shares rise ~3% to $27.71 before the bell
** HOOD late on Wednesday launched its long-awaited desktop platform and added futures and index options (F&O) trading features to its mobile app
** The 11-year-old commission-free trading app, which became synonymous with mom-and-pop investors in 2021, is now seeking to mature into a full-fledged financial services provider
** "We've matured alongside our customers and have heard loud and clear that they want access to more advanced products and more active trading tools," Robinhood's chief brokerage officer Steve Quirk tells Reuters
** HOOD will now allow users to trade futures on the benchmark S&P 500 .SPX index, oil and bitcoin BTC= for a fee on its app
** Move marks a shift from its traditional business model of not charging trading commission; still, its fee per contract is well below industry standards
** As of last close, HOOD shares have more than doubled YTD, outperforming the Nasdaq Composite Index's .IXIC ~22.4% gains over the same period
Reporting by Manya Saini in Bengaluru
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