Feb. 27, 2023
February 27, 2023 Allowing hedge funds to operate a 24x7 trading exchange in which household investors do not have access presents an essential barrier to a fair market participation and one where all investors are protected. It should be noted that Steve Cohen and his previous history with SAC should play a not insignificant role in any decision given past illegal trading behavior. Allowing such trading, without all investors having access presents once again an opportunity for large funds, institutions and others to trade in what amounts to dark markets. That such exchanges are normally self regulatory once again presents several issues. If we are to take such things as SSR, FTDs or the Threshold List, it is patently obvious that in the last several years at a minimum these have been significantly abused and there has been no oversight from the SRO or the SEC. Giving additional leeway will only result in further abuses. To wit, we can identify that Overstock (OSTK) remained on the Threshold List for well over 600 days, AMC (AMC) is currently on the Threshold List past the date when buy-in is required, even a brief glance at SSR for tickers AMC, GME and others show that the activity is well outside the norm.