Could Instant Payments or Stablecoins Be the Answer to 24/7 Margin Calls?

David DeCarlo
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David DeCarlo: https://www.chicagofed.org/people/d/decarlo-david-w

Chicago Fed Letter, 2026, vol. 519

Abstract: “Time equals risk” is an adage that policymakers and market participants have invoked for decades in favor of shortening the settlement cycle in financial markets.1 Today it has taken on new significance as U.S. market regulators consider opening segments of the securities and derivatives markets to 24/7 trading. Many have highlighted that one challenge to expanding trading hours over the weekend would be the current lack of availability of large-value payment systems like Fedwire to manage related settlement risks.

JEL-codes: G00 G18 G23 G28 (search for similar items in EconPapers)
Date: 2026
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