April 23, 2022
This rule is a clear attempt to launder illegal naked shorts and FTDs. The DTCC and the NSCC both know there are billions upon billions (possibly trillions) of dollars worth of Naked Shorts, FTDs and the like that need cleared. So, rather than pay their debts like the rest of us, they make new rules to avoid them. In the process this will be the largest robbery of assets in world history. Comment on this rule has been pulled twice and this is the third attempt to push it through. The passage of this proposal would give hedge funds, brokers, banks, and many others an even greater advantage over retail while further suppressing market transparency.