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Project Open Challenges SEC on Outdated Equity Market Infrastructure
Project Open Challenges SEC on Outdated Equity Market Infrastructure
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Project Open is making a bold case to the SEC, highlighting the antiquated infrastructure of the US equity market. Settlement delays, custodial opacity, and fractional ownership complexities persist due to legacy systems—many likely built on COBOL. Superficial updates like faster messaging fail to address CORE inefficiencies.
The project positions itself as a solution to systemic flaws: bloated fees, exclusionary practices, and an ecosystem resistant to modernization. Its critique mirrors blockchain advocates’ arguments for decentralized settlement—a domain where cryptocurrencies like BTC and ETH have demonstrated real-time finality.
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