Apr. 20, 2022
Good day, The following is my comment for File Number SR-NSCC-2022-003: The market already lacks transparency and accountability for large institutions, so im disappointed this rule is being proposed. I've read every single page of legal speak in the file and have come to a clear conclusion. This rule would increase avoidance of true market price discovery through onward lending. It also 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 which 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...? I don't see it. FTDs are already "reset" through a variety of methods such as using deriviatives not allowing them to reach their 30 day mark where the security needs to be "delivered." 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. Further, as a Canadian citizen who has chosen to invest in the American stock market, I am extremely upset that my investments arent performing as they should due to rampant and uncontrolled corruption in the American markets. Rest assured that I will be escalating this to the highest level possible in my own country as it is very obvious that American companies such as Citadel are conducting themselves illegally, essentially taking money from my pocket. Genuinely upset, Memphis Hartwig