diary:2024-05:2024-05-24 []

stocks, bonds, ETFs are moving to T+1 settlement
Markets moved from T+3 to T+2 in 2017
U.S. Treasuries have operated under T+1 since 1986.
Options and many derivatives also already operate on T+1 and it is typical for mutual funds and CDs.

Is there a reason why we don't have real time settlement in stocks?

It is answered in

https://www.dtcc.com/dtcc-connection/articles/2021/february/04/why-shortening-the-settlement-cycle-will-benefit-the-industry-and-investors → “Are there disadvantages to real-time settlement?”
https://www.dtcc.com/dtcc-connection/articles/2021/february/18/what-you-need-to-know-about-real-time-settlement
- → “Q: How would the lack of netting in real-time settlement negatively impact investors and the markets?”
- → “Q: Is the industry able to perform real-time reconciliation and create real-time stock records to comply with regulations?”
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real-time settlement is technically possible but eliminates important netting and financing opportunities in the market.
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in early 2020, DTC reengineered its night cycle processing
intraday settlement finality
distributed ledger technology (DLT)
predictive financing, real-time reconciliation
market structure including derivatives, securities lending, cash borrowing, foreign exchange and collateral processing.
“Steampunk Settlement,” a white paper published by Greenwich Associates in partnership with DTCC in September 2019

a white paper, “Steampunk Settlement,” which Greenwich Associates and DTCC published in June 2019
straight-through processing

How to prevent brokers from lending your shares? In particular, how to do this for IBKR, Schwab, and Fidelity accounts?