March 4, 2022
These rule changes are a step in the right direction. We have the technology to be safely and accurately settle trades at the time of the trade meaning t+0. I understand the power hunger hedge funds and Citadel and Virtu might fight against such wonderful protections for retail traders since their business model is one that conflicts with their customers. But as a retail trader t+0 or less so but still better than nothing t+1 enables me to better understand the position the company I want to invest is in. More so it will help traders analyze if the market maker or broker has a short position on the stock I want to hold. Currently we have to do business with entities that are taking our trade and with the knowledge of their current business strategy and the market as a whole, can take my order and hide it in a dark pool to be used in whatever way they decide. Which could be in direct competition to my strategy and order.
Retail traders need more enforcement of the current regulations in order to be protected. We need faster settle times for trades. We need fails to deliver to be delivered for once. And retail traders need more transparent and timely information. Right now retail traders are nothing but customers that donate their money to the rich