Wall Street Reverts To T+1 Settlement, What It Means For Crypto
Release: 2024/05/28 23:04 Reading: 597
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=199248
Wall Street Embraces T+1 Settlement: A Historical Shift
Wall Street, the epicenter of the United States financial stock market, has embarked on a notable shift, reverting to its T+1 settlement times, reminiscent of the 1920s era. This change, mandated by the U.S. Securities and Exchange Commission (SEC), has taken effect immediately.
Historical Context and Transition to T+1 Settlement
Eric Balchunas, Bloomberg's Senior ETF Analyst, hailed the announcement as "a nice primer." However, the transition raises concerns about potential time constraints, particularly for investors facing tight deadlines around market openings and closings.
The Last Time Trades Settled in a Day
The last time trades concluded in a single day was over a century ago. The new SEC rules, effective May 28, 2024, reintroduce the T+1 system, which was previously abandoned due to its perceived complexity.
Wall Street's Preparations and Challenges
Wall Street firms have been actively preparing for the T+1 settlement by adjusting their staff work routines. Nonetheless, the SEC acknowledges that the initial implementation may result in "a short-term uptick in settlement failures and challenges to a small segment of market participants."
Market Efficiency and Comparison to Crypto
While this move by the SEC represents a step towards faster settlement in Wall Street trades, it still falls short of the instant settlement capabilities offered by the cryptocurrency market. Cryptocurrencies continue to surpass traditional stocks in terms of settlement efficiency.
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