Theoretically, that is ...... <ahem!>
These guys were operating totally off the hook with extremely large sums of money at issue. And you trust them to have squared the books .... why?
Count me among the old-timey ordoliberals: Free markets, but plenty of smart, incorruptible, unappeasable cops and capacious prisons to keep thumbs off the scales -- or lop them off. Service paid for with our taxes, of course.
Nobody has to square anything. All we need is for somebody to figure out the net, and the DTCC has already been doing that for months. You can start with this article and go to the DTCC website if you want to learn more.
Please read my post - 88.