February 19, 2022
As we all know, time in the markets is risk. Thus, I support this proposal to reduce transaction settlement times.
We should move towards T-0 or T-evening as soon as possible. The technology that exists today is more than capable of handling such a task. In fact, the innefficencies of settlement and clearing in our capital markets is reflective of an older time. A time when physical slips had to be traded, and it could be difficult to account for all of that.
In a digital world, we know longer need an army of people counting certificates in a back room. Not only could computer technology have solved this problem long ago, but the immutability of blockchain technology presents the greatest tool against fraud our markets may have ever seen. Accounting scandals the likes of Enron, 2008 GFC, and countless others would be mitigated or even avoided altogether with blockchain technology, as any attempts to \"cook the books\" or report innacurate information to the blockchain would be impossible.
Thank you,
Matt