Apr. 20, 2022
I am writing as a retail investor to express concern over rule SR-NSCC-2022-003 and its implications. As I understand it, this essentially allows a like-exchange agnostic to the success of a company wherein $XXX,XXX of an abusively shorted stock can be exchanged for $XXX,XXX of any other stock, thereby eliminating the risk of short selling. When any person or entity short sells a stock, they knowingly take on that risk and should have no other way out of that risk other than to purchase and return that stock back to satisfy the debt that comes with a short sale. Please keep in mind, you are also dealing with entities that will gamble away the pensions and retirement accounts of hard-working Americans. If short sellers are callously risking with such high levels of leverage, they must be held accountable when they fall on the wrong side of trades. And they must stop their abuse of rules that have, for far too long, given an unfair advantage. Sincerely, Lester Kim