Trading
Instant exercise
Physically settled contracts deliver the tokenized share in the same block as exercise.
When you exercise a physically settled contract on Vanterra, the tokenized share is delivered in the same block. There is no T+1 wait and no settlement window.
Why it's possible#
The stocks, the settlement and the vaults all live on Robinhood Chain. Exercise and delivery happen in the same transaction on the same chain.
Cash legs#
Cash legs settle in USDC. See Settlement for the full picture.