February 19, 2022
Hi Gary,
Thanks for taking comments. As a retail investor I see zero reason for anything beyond a T+0 settlement period. Of course, the T+++ system was created when trading stocks was literally done on horseback.
Until I see a bank or hedge fund delivering shares via horseback (who are we kidding, have you seen the FTDs recently?), there is literally no reason in the current digital age where transactions cannot settle day-of. Anything beyond that, and I think we can all safely assume that time is being spent by institutions ensuring they come out on top (aka crime).
If retail investors are not allowed to cheat at the stock market, why are they? (is the US a financial oligarchy? Hint: yes)
Over the last year, Ive sent you a few emails outlining my concerns and will continue to reach out until the US financial system is a more even playing field. (Aka not 90-95% OTC, to quote you)
Godspeed,
Sarah Clapp