February 20, 2022
I think shortening the settlement time is a step in the right direction, but why take baby steps instead of just fixing the problem? There is no (non fraudulent) need to have a waiting period of even 1 day. Securities being sold should be owned and on hand, and the transaction should happen instantly. Crypto markets have proven that it's possible, and all without a market maker \"adding liquidity\" (eliminating price discovery when it benefits them). The 2 year time frame is a bit ridiculous when the technology has existed for many years now.