April 20, 2022
To whom it may concern,
Rule SR-NSCC-2022-003 is a flagrant and unabashed attack on a free and fair market which stands to only hurt retail investors like myself. This rule enables market makers, prime brokers, and basically everybody but retail, to hide failure to delivers behind a silly abstraction. This ultimately hurts price discovery and codifies abusive nake short selling practices by circumventing RegSHO mandates.
I, as a retail investor, am staunchly against the adoption of such a pernicious and disgusting rule.
Thanks,
Jason Ott, Ph.D.