Subject: File No. 265 - 28
From: Cedrick Baker
Affiliation:

Mar. 2, 2025

Regarding settlement in the NYSE, many securities that have a percentage of retail ownership has the upwards to 70% of the entire trading day redirected into the dark pool and not on the lit exchange. Data shows that many of these trades are buy orders. This causes unrealistic sell pressure on these securities. With Institutions betting short on these same securities this clearly seems to be criminal at the least. There are trillions of shares sold and not yet purchased in the entire market. This also created unrealistic sell pressure in the market. Daily, securities with no shares to short are still clearly being shorted. The apparent nature of this criminal behavior leads retail traders to assume that the SEC is on board with this criminal activity and fraud. Question: Why does it seem to be such a challenge to enforce settlement in the NYSE?