dirt_dobber
Recycles dryer sheets
Interesting WSJ article - Why Wait Three Days to Get Your Cash After You Trade? - MoneyBeat - WSJ
Why Wait Three Days to Get Your Cash After You Trade?
Not sure if this was posted elsewhere but the whole idea of waiting 3 days for stock transaction settlement has always bugged me.
the following paragraph is something I have always believed
""What’s more, brokerage firms long made buckets of money “playing the float,” or holding onto customers’ cash during the settlement period, and by collecting fees on securities they loaned out for a couple days before having to deliver them. Today, with interest rates near zero, an extra day’s income on billions of dollars in unsettled assets isn’t the bonanza it once was.""
Thoughts?
Why Wait Three Days to Get Your Cash After You Trade?
Not sure if this was posted elsewhere but the whole idea of waiting 3 days for stock transaction settlement has always bugged me.
the following paragraph is something I have always believed
""What’s more, brokerage firms long made buckets of money “playing the float,” or holding onto customers’ cash during the settlement period, and by collecting fees on securities they loaned out for a couple days before having to deliver them. Today, with interest rates near zero, an extra day’s income on billions of dollars in unsettled assets isn’t the bonanza it once was.""
Thoughts?