February 19, 2022
A principle risk in securities trading is settlement risk, either the seller of a security fails to deliver the security while receiving payment or where the buyer of a security fails to deliver payment while receiving the security. Using technology to reduce settlement periods would both reduce the risk of fails to deliver and greatly improve market liquidity. Here is some market data that shows the persistence of fails to deliver in our current markets:
Ticker: XRT
Date QTY(FTD - Shares) Value($)
2022-02-14 264,331 20,998,454.64
2022-02-11 62,746 5,083,680.92
2022-02-10 20,862 1,727,582.22
2022-02-09 683,442 55,454,483.88
2022-02-08 5,333 420,720.37
2022-02-07 1,773,873 139,231,291.77
2022-02-04 449,958 35,240,710.56
2022-02-03 40,801 3,281,624.43
2022-02-02 17,433 1,442,057.76
2022-02-01 347,927 28,436,073.71
2022-01-31 801,706 62,998,057.48
2022-01-28 379,781 29,562,153.04