Apr. 20, 2022
These potential rule changes being presented by the NSCC are clearly a threat to market integrity and price discovery, as these rules directly affect the value of the markets “supported” and directly harmed by these synthetic positions existing. The naked short and open FTD’s that exist, if subverted from being properly closed and covered on the open market by this insulting rule change implementation, would prevent legitimate price discovery and market actions from occurring that are a natural effect of the leveraged positions of these derivative holders. If some party takes the inherent risk of a position, like anyone else, they should be held responsible for the outcome of that fiscal gamble. They should certainly not be saved from financial obligations in a way that sacrifices the integrity of the American Market structure and those who choose to participate within it’s dictated rules for the time being. Please, consider my utmost disappointment as a retail investor, and my voice of recommendation to remove this rule from consideration to allow proper market discovery and price actions to occur within the market.