Apr. 20, 2022
After reading dozens of pages full of propositated complicated language I've concluded that : -This rule would increase avoidance of true market price discovery through onward lending. -It removes the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be very risky business practice. -It's all upside for market makers who excessively naked short securities, and all downside for those on the wrong side of their shorting. How does this rule contribute to a "fair" market by any means? -This is basically the SR-NSCC-2021-010 rule that was dismissed last year because retail commented and showed disapproval of it. It´s the second time NSCC tries to push this rule, knowing very well that it´ll heavily hurt retail investors and allow Hedgefunds and Market Makers to roll their FTD´s indefinetly and make this problem much worse than it already is. This rule is dangerous for US markets, and it´s approval would mean the SEC is giving total control to the big players who already route our orders through Dark Pools and infinitely short ETF´s without any consequences. We the Investors, urge the SEC to act against this rule.