Oct. 31, 2022
October 31, 2022 Transparency in the markets is vital for investor confidence. The Internet has brought about a greater level of availability of data for the average investor. A lack of transparency in the markets is causing a new generation of investors to lose confidence in our financial system. Companies should have to report their holdings, the ones that they are actually holding as collateral, and increased transparency in the reporting of swapped positions would do that. This information is vital for investors in these large institutions, and it should be reported for the international community. Any position swapped over one hundred million dollars should be reported publicly. If our financial systems are the air that we operate within, the SEC has an obligation to the investors of the world to increase transparency. The SEC should follow the precedent in Rule 13h-1, which identifies large traders using the traders entire position in all NMS securities. The overall picture of a traders appet ite for excessive risk can only be formed by looking at their total swap position. Allowing large traders to take on excessive risk via swaps in many different individual securities while avoiding reporting requirements is against the spirit of the rule, and goes against the Commissions prior rulemaking.