Mar. 3, 2022
While I do believe that shortening settlement cycles is essential in today's markets, T+1 is not short enough and 2 years to enact the change is too long. Current computer systems are able to instantaneously settle on large scale systems and this policy looks to do too little too late. I will not be happy with any regulation that does not require near-instant settling. The institutions on Wall St have enough money to lay fiber lines between Chicago and NYC, so they can scalp off the top of options trades. They have the ability to see all the order books before the public. It should not take an MBA to see that near-instant settling of transactions is not done because Wall St firms just don't want to. Why don't they want to? Just look at all the crimes they commit while the government receives their cut (an insulting .005% of the profits). -A concerned bagholder of the US economy. PS. Stop using my tax payer dollars to subsidize Wall St when they lose! The US Gov nor people receive their capitalized gains.