Subject: File No. SR-NSCC-2021-002
From: Valentin Elsaesser

May 7, 2021

There is no counter-argument that could be made in good faith against transparency of short-selling in the markets. The world is watching to see if they can trust US Markets enough to continue investing in US Stock Exchanges. At the moment there is too much wiggle room for FTDs to be covered by borrowed stock. If a firm cannot back up their short positions with cash, they shouldn't be trading in the first place.