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Nasdaq CEO Adena Friedman said the tech supporting trade settlement hasn t kept pace with the rest of the market. You have to change everything, to get to T+0 settlement, Friedman said.
Friedman made the comments at an industry fintech conference Wednesday.
Of the many issues to come out of the retail trading frenzy in stocks like GameStop earlier this year, one was a focus on the time it takes to settle equity trades.
At the time, Robinhood CEO Vlad Tenev even took to his company s website to decry the current structure of stock settlement. The