Data:
{
"text": "Funds settlement is actually very behind in-terms of technology because the authentication part is done \"manually\"(aka multiple guys on a computer in different banks, regulators, agencies, etc) to ensure it's authentic, legal and trackable. That makes funds very illiquid especially with the speed of trades(5.4 trillion USD worth of trades just for last week alone)\n\nThe articles explain it better from their perspective:\n\n[Global investors brace for U.S. shift to faster trade settlement](https://asia.nikkei.com/Business/Markets/Global-investors-brace-for-U.S.-shift-to-faster-trade-settlement)\n\n[S’pore dealers brace themselves for sleepless nights as US cuts trade settlement time](https://www.straitstimes.com/business/singapore-braces-for-sleepless-nights-as-us-cuts-trade-settlement-to-t1)\n\n[US stock changes push FX trades into Asia's 'twilight zone' ](https://economictimes.indiatimes.com/markets/stocks/news/us-stock-changes-push-fx-trades-into-asias-twilight-zone/articleshow/110378589.cms?from=mdr)\n\ntl;dr US is rushing to modernize decades worth of inefficiency, but the rest of the world are forced to work around it because they're also inefficient. It's like running before you even know how to walk properly because you realize you are very late",
"label": "r/wallstreetbets",
"dataType": "comment",
"communityName": "r/wallstreetbets",
"datetime": "2024-05-25",
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}