4 ms·
1) AFAIK, big firms also aren't guaranteed to have their trades resolved in any timely manner after hours. 2) What difference does it make how long it takes tr
by HWR_14 4y ago
1) AFAIK, big firms also aren't guaranteed to have their trades resolved in any timely manner after hours.
2) What difference does it make how long it takes trades to settle? I tell my broker what I want. They have it show up in my account. Any 3 days for settlement is handled at no cost to me.
- CoolGuySteve 4y agoYou're indirectly paying the float during that settlement period. There's also a whole clearing industry that you're funding with your fees even though more efficient technologies could mostly eliminate it. Like yeah, it's fun going to fancy restaurants with your salesperson from the clearing firm, but the only reason they can do that is due to massive amounts of rent-seeking. The more I work in finance, the more I think any high touch sales activity is an indication of a broken/corrupt market.
- HWR_14 4y agoI mean, I have no faith that I will somehow make more money if my broker no longer is paying the float. In my estimation, it's likely to result in employees of my brokerage getting a slightly bigger boat and fewer comped meals from salespeople, while leaving my bottom line the same.