February 9, 2022
I am for the T-1 settlement. It will allow for a much more realistic market. I believe the scandal with Robinhood is a perfect example of this. Settlement time is essential for hedgefunds, market makers, and trading apps such as Robinhood to prove themselves on days such as the one where the buy button was shut off. It is clear to me that shortening the settlement cycle will prevent future failures and improve lost public sentiment in the markets. It will also be easier to spot bad actors, such as those who practice naked short selling stocks. I see no reason not to level the playing field to benefit the people and reign in the corporations who would abuse their privileges by taking away time for them to hide their trades in other types of trades, such as married conversion puts. If the SEC truly has the public at the heart of what they say they are trying to protect, I trust that this will be implemented as soon as possible