April 20, 2022
As a average retail investor I am more and more concerned about these \"rules\" by SRO's.
This rule effectively is a way to avoid the purchase of the underlying stock when a hedgefund does not have the means to pay for its margin or sell other securities to do so, instead can use this new \"instrument\" to effectively pay for it via a coupon like effect?
This is another way for wall street to destroy the American economy and get bailed out when everything goes wrong like back in 2008 and for the average people to bail them out and for them to wave from balcony and laugh at us.
I think this rule and any subsequent rule which is NOT in favour of retail INVESTOR should not be proposed or submitted.
I am trying to invest in companies I belive in who have potential for growth, yet these rules are here for hedge fund to profit off of my investment and ultimately bankrupt a company through abusive and naked short selling and counterfeit shares, which this \"new instrument\" is another BIGGER addition to the problem. Its not solving it, it's trying to hide it.
More to the point, I read that you have spoken with \"experts\" yet I see nowhere that you have contacted professors or anyone who critique the financial world for living, rather have gone to market participants to give you their expertise?
Ofcourse they will want everything that benefit them rather than benefit the markets and companies as a whole.
This rule should be removed and no such SFT should be introduced at all. EVER. Infact the entire financial system should be made simpler not more complex which is what this instrument will do.