Apr. 20, 2022
Good Morning, I am writing to comment on SR-NSCC-2022-801. From my understanding this rule would make it significantly easier to resolve a Failure to Deliver of one security with a comparable value in another security. This gives me pause as it seems like a way to can kick a large FTD issue with other securities that may be considerably more available. Adding in rules such as these also concerns me as a retail investor. More tools like these are exactly what the institutional traders use to take advantage of the retail trader and we need fewer of these, not more. Watching our markets over the last few years it truly feels as though the SEC does not have the average retail investor even remotely in mind and quite the opposite in fact. If changes like this will continue to come through the divide between institution and retail will grow ever wider and cause more system issues. Please address the inequities, especially in freely available data! Thanks, Stephen Price Chemical Engineer EHS & Quality Manager North Industrial Chemicals, Inc. 609 E. King Street, York, PA 17405 O: C: www.nmc-nic.com