Oct. 29, 2022
October 29, 2022 Dear SEC representatives, as a foreign investor who is trading with/on multiple US securities and US Exchanges, it has come to my attention that there seems to be some issues with certain securities and derivatives. Since I've learned about these issues, I've tried to do my best in terms of research to gather more knowledge and have a deeper into what is going on as well as trying to expand my knowledge and understanding of the market and its mechanics. The problem I'm encountering while doing so, is that all kinds of swaps and/or swap-related derivatives are part of an exemption in terms of reporting which makes it very hard for me as an investor to find out if the securites im trading with might be falling victim to certain, big financial entities who use swaps as a method to (in)directly damage or at least harm them. I can not find any understandable data why that is the case since the CFTC seems to be quite intransparent about their motives. Transparency is one of the most crucial things a well functioning and free market, such as the US-Securities-Market claims to be, needs. If data for example about swaps is not available for any investor to see, this does make a market look somehow shady and intransparent and reduces the trust in such market in a big way. Since swaps seem to not only be a problem in relation to the securities I am trading with but also for some bigger, international financial happenings, im afraid that swaps may display a big danger to other, international marekts and so I'm hereby commenting on the proposed rule and kindly ask you to revoke the exemption of swap reporting so any investor - regardless if financial instutition or retail - gets free and open access to any available data regarding swaps, the involved counterparties, the amount of money as well as the involved securities. For my understanding it is not bearable to have an self-claimed \"open, free and fair market, just to not publish data for whatever reason that is. Especially in times like that, with a just started recession and big unkown happenings just to come, it is more important than ever that any available data is made available for anyone who wants to have a look into it so a decision about whether an investment is to be made or not. I appreciate your time and effort you took in reading this and once again kindly ask to take whatever action that is needed to make such data openly available, including letting this proposed rule change pass. Best Regards -- Jesper Lerch