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Replies to post #330393 on Spongetech Delivery Systems, Inc. (fka SPNGQ)
In the U.S. capital markets, the industry is well-served by an automated post-trade process that seamlessly clears, guarantees and settles trades that on a peak day can top 19 billion shares, or average about $2 trillion. However, regulators, policymakers and financial firms are justifiably concerned about ex-clearing trades, which are managed broker-to-broker using highly manual and error-prone processes, including phone calls and faxes to exchange information to ensure final settlement. The process is inefficient and expensive – and, more significantly, fraught with operational and counterparty risk.
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