Nov. 10, 2022
November 10, 2022 Thank you for taking comments on this important matter. Our markets are in dire need of transparency the lack of it creates or exasperates inequities. Allowing large players to cloak trades in swaps, ETFs, derivatives, etc. - harms our markets by interfering with price discovery. Much like the abuse of dark pools - which should have a minimum lot size - or be done away with and replaced with \stealth\ open market orders where one share is the initial bid but the trade will expand to the capacity of the buyer's appetite (at that price). Along side of this change - automated reporting needs to be the normal. The fact that funds/firms/institutions resist reporting is evidence that they are seeking to hide things or duck existing regulations. Our markets are a treasure - by letting the .01% run them to their delight you are robbing all others of fair participation. You swore an oath - you have a duty - be the people's hero - not a tool of the .01%. It is beyond clear that Gamestop is VASTLY oversold - my hunch it's a symptom of a much more systemic set of abuse. \Infinite liquidly\ interferes with actual price discovery - it's also a mis-representation of market capital (total \owned\ shares x share price) a key component of assessing the fair market value of securities. By allowing this situation to deepen rather than forcing counterparties to rationalize the risk - you instead push that risk into the system --- this is how we have collapses. The rule I am commenting on will help ameliorate this issue - but more action is required. TRANSPARANCY - sunlight is the best disinfectant Fairness promotes growth We all see the \man behind the curtain\ - and can attest to the fact that he wears no pants - yet the market and news marches on as if nothing is the matter. The pending risk rationalization event is going to bankrupt the baby boomers as they head into retirement. It will be a social disaster - causing irreparable harm to America. Please live up to your potential - we need heroes. Thank you for your service and time, GLHF -kirby