Apr. 20, 2022
Hello, I would like to voice my concern over the proposed SR-NSCC-2022-003. I vehemently oppose this rule going into effect and further alienating individual retail investors, like myself, from being able to fairly participate in our market. This rule would add an additional level of opaqueness and lack of transparency in a market environment where retail investors are already handicapped by not having accurate, on-time data. I also see this as providing yet another unfair advantage to non-retail investors (firms, market makers, hedge funds, etc...) by allowing them to cover any failure to deliver with the use of the proposed SFT and/or additional. If anyone is in debt for a specific share/item, they should not be able to use anything else to cover that debt. Regardless of the value of the "item" that could be used to cover the debt, it is not the specific share/item that is required. Monetary value alone does not cover a tangible item, if that item is what is owed in order to repay the debt and avoid a failure to deliver. I oppose the implementation of this rule and any future rule which would facilitate an action as described above. Regards, Eric Kwiatek