September 6, 2021
First, I dont see a problem with five minutes delayed for BSTX Market Data on Blockchain comparing with NASDAQ has already provided real-time data. Other exchanges offer so-called real-time data with an average 10 minutes delay, such as CBOT Real-Time, CFE Enhanced, CME Real-Time, COMEX Real-Time, NYMEX Real-Time, OneChicago, and others.
Second, regarding exchange-traded NMS stocks, if a particular NMS stock does not meet criteria or conditions on T+1 or T+0, the fallback option will be T+2.
Third, a faster settlement will bring benefit to market participants, allowing them to trade on the exchanges without concerning trading products that have yet settled with other participants.
Finally, T+0 or T+1 on NMS stocks will depend on the NSCC clearing system, so the adverse market effects should be NSCCs responsibility to address these issues if the NSCC allows T+0 or T+1 to happen, not the Exchange. If the NSCC states that NMS stocks still need to be T+2, the Exchange will follow the NSCC.