Apr. 20, 2022
As a retail the current lack of transparency and accountability for larger institutions in the market is concerning. The proposal of SR-NSCC-2022-801 is of particular concern as I believe it has the potential to further erode transparency and fairness in the markets disportionately for retail and other small investors. This proposal would further move the market away from true price discovery through onward lending and further obfuscate data available to the public. This ultimately leads to more opaqueness in how the market operates, limits retail's ability to make informed investment choices in the market and adds unnecessary risk to retail investors being taken advantage of by big wall street firms who already have asymmetrical access to capital, information and mechanisms to invest in the market. I understand that in many instances these advantages are deemed necessary for larger entities such as market makers to provide liquidity and keep the market functioning healthily. However, the current proposed rule leaves an egregious amount of room to be abused by these same entities. SR-NSCC-2022-801 makes markets less fair in its current form and will only serve to erode the integrity and trust in the markets further from retail investors. Additionally I would implore you to refrain from proposing rules similar to this in the future without leaving the wriggle room possible for large financial entities to abuse them. Rules such as these should be airtight when it comes to potential in financial abuse and large entities should not be given the benefit of the doubt and held accountable for actions that take away from true price discovery, market fairness and limiting information available to all of the investing public. Thank you for taking the time to read my grievances with this proposed rule from a concerned investor. Sincerely, Joss Taylor