April 20, 2022
This rule is clearly designed to save institutions that have take out incredibly stupid derivatives positions that have then gone against them. Literally diverting the abusive FTD's of these massively overexposed naked short positions onto the NSCC via the proposed SFT system and allowing FTR's to go on forever.
If the SEC truly is trying to protect retail investors, WHAT THE HELL ARE YOU DOING ALLOWING EVEN THE PROPOSAL OF THIS RULE?
HOW ABOUT NOT ALLOWING INSTITUTIONS TO NAKED SHORT IN THE FIRST PLACE I'm a European investor and I highly doubt that if this rule goes ahead that the public reaction will be quiet.
DO. YOUR. JOB.
Make those who make stupid bets win stupid prizes, as is what they signed up for WHEN THEY TOOK OUT THEIR STUPID POSITIONS.