Subject: Comment on File No. SR-NSCC-2023-003
From: Andrew Prout
Affiliation:

Apr. 14, 2023

Hello All,

I am a personal investor, I am opposed to this change where entire exhibits (such as Exhibit 5 in these rule change proposals for File Number SR-NSCC-2023-003, SR-FICC-2023-004, and SR-DTC-2023-003) are redacted from the very public whose comments are being solicited as part of the rule change process.
 
Any rule that takes effect immediately does not give us the time to question ruling for the market and open market we need not hide behind REDACTED pages. This is not market transparency, or even market rule transparency, and I am very disappointed to see this proposal even be made.
 
Who has access to the unreacted Exhibit?  Are they market participants?  How am I to know, without the same access, that I as a household investor have fair access to the market rule changing process?  Fair markets must be the goal, and fair access to rule change proposals governing the market is obligatory in that process.
 
I believe these rules should be rejected on the basis of their lack of transparency, and reintroduced, if necessary, with an UNREDACTED Exhibit 5.
  

Thank you, 

Andrew Prout