Oct. 5, 2023
This is regarding SR-FINRA-2023- 010, where FINRA is proposing to add new paragraph (“Protected Options”) to FINRA Rule 4210 (Margin Requirements). Placing more obfuscation on any trades/position is **not helpful** to fair and open markets. You cannot guarantee that you can exercise a call and come up with the shares needed to fulfill your shorts. FINRA is trying to suggest that ‘any’ long position can offset a short without confirming if they are able to consistently cancel each other out. This is so sneaky and devious! Reading through their proposed language, all I can see is that it opens up more paths for price manipulation - crippling the ability of the market to accurately value securities. Copying the corrupt actions of the CBOE does not make this fair, reasonable, or necessary. All it does is obfuscate reportable data and make SEC enforcement more difficult when trying to protect free and fair markets.