No, the report was about the average delay needed for clearing, not delivery.
Two brokers with high volume traffic between each other would need 3 weeks to know how their accounts were then.
While you, as retail, would be debited in the minutes after the fill.
Brokers trades can be intermarket, i.e. metals (Comex) against currency (Merc), in turn hedged with swaps on a currency pair.
Needs some time to sort things out. A computer could not "sort things out" as needed, it would spill out exact positions.
Sales slips are time-stamped by the exchange, difficult to "sort things out", hence volumes and OI are reported the day after.
Been joked about, I think, on John Pitera's thread, could be 6 months or a year ago. |
