If anything good comes out of this whole fiasco, can it be the end of ACH and the beginning of an instant bank settlement system? Extend that to stock and options and make a T+1 and T+2 disappear. If it can’t be instant due to settlement derivatives, at least settle at close of business.
Stock trades happen in real time or as close to it as possible --- and at extremely high volumes at times. Any delay can cost someone a lot of money. No one wants to wait for a blockchain to try and reach a consensus.
https://www.brokerage-review.com/investing-firm/broker-trade...
Executing a trade is not the same thing as the underlying instrument changing hands, which is still slow.
The digital/electronic record of the trade and the transfer of monetary funds between accounts is generally sufficient to establish ownership and both happen in near real time under SEC regulations between registered brokers.
Basically, if the cross checked double entry accounts of buyer, seller and their brokers all agree that the trade took place, that is good enough for most folks and the SEC. Day traders can and often do buy and sell a stock multiple times in a day without delay.
No. You just need a bog-standard, centralized solution actually implemented.
The problem isn't tech--it's simply getting the legacy financial stuff up to circa Y2K programming standards.