Aug. 16, 2022
August 16, 2022
Please support transaction by transaction reporting. This illuminates the ability of large market makers to hide illegal activities within an aggregate. Please also support the 15 minute reporting requirement you have proposed. The cost and effort to do so are justified to prevent fraud in our markets.
Companies that have been victimized by previously lax short selling rules, including but not limited to cellar boxing, illegal naked shortselling, basket swaps, and the ever-growing FTD cycle, as well as the manipulation of the retail stock market through the use of dark pools and off-exchange order routing, deserve the right to operate in a fair and equitable trading system. The mere fact that more than 50% of retail trades are routed through dark pools to take it vantage of predatory practices like payment for order flow and order routing to benefit the market makers using these practices should be enough to call for this reform proposed, as well as hopefully many more to come.
Lets bring trading into the 21st-century and out of the dark where rampant manipulation, fueled by greed at the highest levels has led to a system which only works for those privileged few who work for it, or within it.
In the past two years we have seen retail traders take greater ownership of their rights as investors in a public market. We have seen their frustration as manipulation has occurred both in the shadows, and in broad daylight. Buy button turn offs, coordinated short selling attacks on specific securities, historically unprecedented levels of FTD cycles, swaps to hide short positions and re-categorize net losses to fool the ticker - the list of malfeasance goes on and on and on.
Please institute this rule, as written, to help to aggressively ensure the transparency and fairness of our exchange. As long, complicated, and generally untract lending chains need to be brought under control and observed with scrutiny.