Apr. 20, 2022
Hello, My response to File Number SR-NSCC-2022-003 is as follows: I'm disappointed that this rule is being suggested because the market currently lacks transparency and accountability for major organisations. I've read every word of legalese in the file and have reached a clear conclusion. Through onward lending, this regulation would exacerbate the avoidance of actual market price discovery. It also eliminates the infinite risk of naked shorting, as well as the deterrent of engaging in a supposedly high-risk business practise. It's all upside for market makers who naked short securities aggressively, and all downside for those who are shorting the wrong securities. By any means, how does this rule contribute to a "fair" market...? I don't think so. This is very frustrating to see rules like this being proposed that only favor reckless institutions. Hopefully you'll consider the words of retail investors more with your decision making on regulations, as we've been educating ourselves a lot more over the past couple years. Justin