Apr. 20, 2022
To whom it may concern, As a foreign retail investor, I’m writing to express my strong objection to this new rule being proposed. I am convinced that SR-NSCC-2022-003 will allow for less transparent markets. Implementation of this rule (SR-NSCC-2022-003) will allow Failure To Delivers (FTDs) to accrue, which can be heavily abused by market makers to inhibit true price discovery. Allowing Security Financial Transactions (SFTs) proposed in this rule would add yet another way for big Wall Street firms to obfuscate data available to retail investors, therefore prohibiting everyday investors from making informed investment choices. While many rules are implemented for the sake of providing liquidity to markets, it is becoming clear that market makers take advantage of these rules. We, as retail investors, need to be able to trust the system! Additionally, I implore you to refrain from proposing similar rules like this in the future. Sincerely, Bruce Khobunthien