4 ms·
Not a meme stock investor. The penalties are pathetic in most cases. If I fail to deliver $100M in treasuries I'm paying maybe 5K a day. Folks are playing gam
by Pv9KKy3 4y ago
Not a meme stock investor.
The penalties are pathetic in most cases. If I fail to deliver $100M in treasuries I'm paying maybe 5K a day.
Folks are playing games under the hood with this. Stock price crashing on some shares you sold? Buy them late and settle late. I'd be curious what happened with FTD on things like bear sterns imploding.
I like how folks keep on assuring us that selling something you don't own is a non-issue :) That's a tell right there on where the morals of wall street are - in the toilet.
We are in 2022. We still have T+2 settlement (in part so folks can shuffle stuff on the backend). T+1 should be an obvious no brainer requirement. And frankly I'd go for gross real time personally - and nuke these firms out of the water including their financing and margin revenues.
- JumpCrisscross 4y agoAgain, if you want instantaneous settlement, you can have it. Most people do this because they’re desperate. Some do it for emotional reasons, the same way some investors refuse to allow their shares to be lent out or held in street name. It sounds like you have an emotional response to this issue, and so might benefit, mentally if not financially, from demanding special settlement.