Subject: File No. SR-NSCC-2021-010
From: Jack Calkins

August 12, 2021

I am worried about the potential number of loopholes that can be found in this proposed rule change. There should be rules that dictate what the money swapped for stock should be used for. What happens when a company that is short a stock turns over long positions for cash and uses that cash not to close their positions but to double down on leverage. We need clear rules to help establish a fair market for all investors.