Apr. 20, 2022
To whom it may concern, I, an active retail investor, am outraged by the content of this proposed rule change, and completely opposed to it. I believe it would be used solely to abuse retail investors and to give favored parties an unfair advantage in the market. SFT's, security financial transactions, the new financial tool described in NSCC-2022-003 would provide market makers a way to endlessly can-kick their obligations to investors and never have to cover their Fails-to-Deliver or their naked-short positions, or at least greatly reduce the costs of the positions they have to cover. This rule will also just add another layer of complexity to our already overly complicated market system, furthering the unfair divide between Main street and Wall street investors. I understand that these are features, not quirks, of the proposed rule, and that this would provide a massive boon to market makers, prime brokers, and short sellers by rigging the market entirely in their favor. There exists no similar protections for retail investor positions - if retail makes a bad trade they are forced to pay what they owe. If this rule is passed I, and many other furious investors, will never invest another cent in the US stock market as its regulatory bodies have clearly failed to perform their duty to protect retail investors and the public.