February 25, 2022
I support shortening the securities transaction settlement cycle. Ideally, I would like to see T+0 settlement using blockchain based technology implemented with instantaneous settlement on a publicly identifiable ledger.
I believe this proposal is a step in the right direction but does not go far enough. T+2 has proven ineffective and a breading ground for securities fraud and manipulation for the sake of liquidity. Will Naked short selling and FTD's be prevented with T+1? I think not, but thank you for pushing in the right direction.
High frequency trading firms trade algorithmically using speeds well under single milliseconds yet they need T+2 or T+1 to settle these trades. It truly is remarkable and a just bad comedy joke in 2022.