March 25, 2022
This rule should be passed. I would like to see all uses of the phrase 'T+1' changed to 'T+0' and remove the text that insinuates it is 'too difficult to do'. The year is 2022, and the days of having children courier paper slips around NYC are gone. It is childish to an extreme to suggest that T+0 is even difficult to do.
Using unique identifiers for transactions will allow you to settle instantaneously... assuming you actually have the securities that you are supposed to.
The settlement period being longer than T+0 is a positive only for the individuals who wish to exploit market opaqueness in order extract ill-gotten gains from the markets.
The vested interests in ensuring opaqueness in our markets are a threat to our national security, and are proof that there is no such thing as 'efficient markets'.