February 7, 2022
Expanding the definitions of the parties that can leverage these swaps included in Rule 9j-1 is great. I think the increased transparency in rule Rule 10B-1 is important for all market participants. Weighing risk in both the firms that are leveraged and their principals who own that risk is huge for all those who want to participate in a fair market. Right now theres a lot of 'fog of war' - with the existence of HFT that should be a thing of the past. To me it appears duplicitous (we need x# of days to settle but can trade 1000x in a microsecond, over fractional arbitrage) This asymmetry is vacuuming up capital in the form of frontrunning, internalizing and failing to deliver equities - They should disclose ALL forms of manipulation but we can start here.